© vladimir veljanovski dreamstime.com Electronics Production | October 31, 2013
PKC reports decreasing revenues
After the first half of 2013, PKC is reporting of decreasing revenue and operating profit - partly due to extra expenses related to production transfers and ramp-up of new customer programs in Europe.
PKC's Truck production volumes during the first nine months fell short from last year’s comparison period in the company's main markets in North America and Europe. Actual production in Europe during the third quarter remained in the level of previous quarter. In North America truck production volumes began to fall contrary to forecasts in the third quarter and remained below previous quarter’s production volumes. PKC’s revenue in the third quarter was EUR 211.6 million and operating profit before non-recurring items EUR 9.6 million. The weakening of operating profit margin is explained by extra expenses related to production transfers and ramp-up of new customer programs in Europe. Operating profit also continued to be burdened by losses in Brazilian operations. In Brazil, production volumes for trucks continued to grow during the third quarter. January - September 2013 highlights
- Revenue decreased 5.9% on the comparison period (1-9/2012), totalling EUR 671.9 million (EUR 714.2 million).
- EBITDA before non-recurring items was EUR 56.4 million (EUR 65.8 million) and 8.4% (9.2%) of revenue.
- EBITA was EUR 42.6 million (EUR 53.2 million) and 6.3% (7.5%) of revenue. During the report period PPA depreciation and amortisation totalled EUR 8.4 million (EUR 10.6 million).
- Operating profit before non-recurring items was EUR 34.2 million (EUR 42.6 million) and 5.1% (6.0%) of revenue.
- Cash flow after investments was EUR 6.4 million (EUR 52.1 million).
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