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PCB | May 25, 2007

Weak results for GPV, CEO replaced

Danish PCB and EMS provider GPV has released it`s annual report. Turnover in 2006/07 amounted to 1.196,3 mill. DKK versus 1.003,8 mill. DKK in 2005/06, corresponding to an increase of 19%. Turnover has been increasing for all three divisions.
Turnover increased by 17% in the Mechanics Division, with 33% in the Electronics Division and with 5% in the PCB Division. Earnings before deducting interest and taxes amounted to a deficit of 15,2 mill. DKK versus a profit of 32,3 mill. DKK in 2005/06.

The result is negatively affected by a deficit of 36,8 mill DKK in the PCB Division, including a deficit of 27,1 mill DKK on the activities in China. Further EBIT is negatively affected by changes in accounting practice and depreciations of 32,0 mill. DKK. The 2006/07 result amounted to a deficit of 46,0 mill. DKK against a profit of 14,2 mill. DKK in 2005/06.

CEO Jørgen K. Hansen will be replaced. He will now be responsible for the Chinese business of GPV.

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