Solid year for PKC – still closes in Estonia

EBITDA before non-recurring items increased 31.5% on the comparison period (1-12/2014), totalling EUR 63.9 million (EUR 48.6 million) and 7.0% (5.9%) of revenue. Profit for the full year amounted to EUR 18.28 million, which is a rather big increase from a loss of EUR -10,5 million in 2014. “2015 was full of events. It included expansion into rolling stock customer relationships through the acquisition of Kabel-Technik-Polska Sp. z o.o. and the establishment of a joint venture in China with Huakai specialising in the manufacture of electrical distribution systems. Production reorganisation proceeded in Europe and Brazil. The new wiring systems factories in Lithuania and Serbia speeded up and production in Brazil was consolidated into one factory,” commented PKC president and CEO, Matti Hyytiäinen. The company's reorganisation of its European production will gradually end during the year, with the exception of the closure of the Keila factory situated in Estonia which, as a result of customer projects, will not be carried out until Q1/17. Competence units will remain at Keila to serve European and South American business.