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Electronics Production | July 31, 2009

Vogt electronic: revenue declined to €47.3 million

Due to the ongoing global economic crisis the business development at VOGT electronic slowed down clearly compared to first 6 months in 2008.
Consolidated revenue reduced to 47.3 million € (previous year 78.2 million €). The results of operations dropped to -3.6 million € (previous year 4.4 million € due to a low sales level. The Group results after tax amounted to -5.2 million € (previous year 3.3.million €). The decline in sales affected all industry sectors and regions. The revenue in automotive electronics contributing more than 54% to the total revenue of the Group declined strongly by -45.4.1% compared to previous year period. The demand was also strongly slowing down in industrial electronics with -36.7% and consumer electronics with -27.5% compared to first half year 2008. An exact prediction how demand will develop in future is still difficult. Across all industriy sectors there are still no signs showing an end of the recession. As many customers reduced their stocks to a minimum VOGT electronic sees at least a moderate increase in demand for the 2nd half of the year. Against this background VOGT expects a slightly increasing revenue for the 2nd half of the year compared to first 6 months and improved operational results due to sustaining cost savings.
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