Electronics Production | July 13, 2007
PKC increased sales by 31,4%
The PKC Group's net sales in the January-June period increased by 31.4 % on the previous year to EUR 143.6 million (109.3 million). Operating profit was EUR 13.8 million (15.0 million) and profit before taxes was EUR 13.2 million (14.6 million). Diluted earnings per share were EUR 0.55 (0.55).
"The Group continued to grow strongly in both business segments. Thanks to the actions we carried out, we were able to meet the need for increased capacity. With our main customers enjoying increased volumes and as we expanded into new market areas, net sales in our Wiring Harnesses business showed strong growth on the previous year. In spite of the expansion of operations, we achieved a good level of operating profit", PKC's CEO Mika Kari commented. "In our Electronics business, we racked up significant growth in both contract manufacturing and design. During the latter part of the year, we will invest in starting up operations in China. The ability in the years ahead to offer cost-effective contract manufacturing services in China too will bring an improvement in our position as a partner of the telecommunications and electrotechnical industry. For our customer industries, the development outlook for the latter part of the year remains favourable. We are pushing ahead with actions to boost capacity and improve efficiency in order to meet growing customer needs and to maintain a good level of profitability in coming years as well", he added. The commercial vehicle market showed growth compared with the same period a year ago. Deliveries by the Wiring Harnesses business to the commercial vehicle industry in Europe and South America were at a high level. Deliveries for other types of vehicle were likewise at a good level. Sales of wiring harnesses and cabling to the telecommunications industry declined somewhat from the same period a year earlier owing to low demand from certain customers in the early part of the year. Demand for electronics contract design and manufacturing showed favourable growth in the report period. In the face of a tough competitive situation, suppliers must have cost-effective operational models in place and be able to respond swiftly to customers' changing needs, at home and worldwide. Consolidated net sales in April-June amounted to EUR 73.7 million (EUR 54.8 million), up 34.4 % on the same period a year earlier. Consolidated operating profit totalled EUR 7.3 million (6.8 million), amounting to 10.0 % of net sales (12.5 %). Depreciation amounted to EUR 1.6 million (1.5 million). Financial income and expenses were EUR 0.2 million negative (0.6 million negative). Profit before taxes was EUR 7.1 million (6.2 million). Profit for the report period rose to EUR 5.4 million (EUR 4.0 million). Diluted earnings per share were EUR 0.30 (0.22). Net sales generated by the Wiring Harnesses business during the report period were EUR 59.8 million (42.8 million), up 39.7 % on the comparison period. Its share of consolidated net sales was 81.1 % (78.0 %). Operating profit was EUR 5.6 million (5.1 million), or 9.3 % (11.8 %) of the segment's net sales. Net sales generated by the Electronics business segment rose by 15.5 % to EUR 13.9 million (12.0 million), representing 19.0% of consolidated net sales (22.0%). Operating profit was EUR 1.8 million (1.8 million), or 12.5 % (14.2 %) of the segment's net sales. The PKC Group's net sales increased by 31.4 % for the first half on the previous year, reaching EUR 143.6 million (109.3 million). Consolidated operating profit totalled EUR 13.8 million (15.0 million), amounting to 9.6 % of net sales (13.7 %). Aggregate depreciation amounted to EUR 3.7 million (3.0 million). Financial income and expenses were EUR 0.6 million negative (0.4 million negative). Profit before taxes was EUR 13.2 million (14.6 million). Profit for the report period was EUR 9.7 million (EUR 9.9 million). Diluted earnings per share were EUR 0.55 (0.55). Net sales generated by the Wiring Harnesses business during the report period rose by 36.8 % to EUR 117.9 million (86.2 million). Its share of consolidated net sales was 82.1 % (78.8 %). Operating profit of the Wiring Harnesses business totalled EUR 10.5 million (11.8 million), amounting to 8.9 % of the segment's net sales (13.6 %). The Electronics business segment saw a rise in net sales of 11.3 % to EUR 25.8 million (23.1 million), accounting for 17.9 % of consolidated net sales (21.2%). The Electronics business segment reported operating profit of EUR 3.3 million (3.3 million), amounting to 12.6 % of the segment's net sales (13.8 %). The Group's full-year net sales grew in both business segments, and a good level of profitability was maintained. World market prices of raw materials have remained at a high level. We were able to meet increased demand by increasing production capacity. The integration of operations in North America is moving ahead, but the earnings trend has not been in line with expectations. Production volumes at the new factory in Pskov, Russia were increased as planned.
Keysight, FormFactor and CompoundTek to collaborate Keysight, FormFactor and CompoundTek, have formed a joint plan to provide an advanced photonics on-wafer testing solution to include automated alignment, simultaneous optical-optical and optical-electrical device tests.
Wireless Telecom buys Holzworth Instrumentation Wireless Telecom Group Inc. has signed a definitive agreement to acquire Holzworth Instrumentation Inc., a Boulder, Colorado-based provider of specialty phase noise analyzers and signal generators.
NCAB Group acquires Altus-PCB in USA Altus-PCB is a full-service supplier of PCBs based in New Jersey, USA, that has a business model similar to NCAB’s. Tee US company has a high level of technical expertise and sells mainly to original equipment manufacturers (OEMs).
Mycronic's Thomas Stetter looks back at a successful year As the company is moving more and more towards becoming a full solutions provider, business is taking off and the numbers show very much confirms that the Mycronic's strategy is working.
Sponsored content by SourcengineComponent Aggregators vs E-Commerce Marketplaces What is the difference between electronic component aggregators and a marketplace?
67% of a buyer’s journey is now done digitally. Learn how marketplaces emerged as full-cycle procurement platforms and challenged the traditional component aggregators.
IBL Löttechnik reviews 2019 IBL Löttechnik GmbH is staying on top of the market thanks to continues R&D investments.
Second install for EFI at Mid America Display Silicon Valley’s EFI will install a second EFI Nozomi C18000 single-pass inkjet, direct-to-board printer later this month to Mid America Display.
Ron Jakeman of Electrolube looks back at a successful 2019 Electrolube has been growing, both in terms of its footprint and financially, for a number of years not; Ron Jakeman details the company's progress.
Etteplan and Scanfil to start strategic cooperation in joint customer projects Engineering company Etteplan and contract manufacturer Scanfil have today agreed to enter a strategic partnership in Finland.
Sponsored content by Nordson ASYMTEKStart-to-finish conformal coating with reliability and efficiency Nordson ASYMTEK’s flexible, modular, Panorama™ S-Line delivers conformal coating process control in a space-saving footprint with overlapping line processes that minimize manufacturing floor space. This innovative, patent-pending line layout trims 50% of the line’s length by using the lower compartment in each piece of equipment for functional use. Combined with Nordson ASYMTEK’s global support, this complete conformal coating line delivers quality, product reliability, efficiency, and safety for all your conformal coating applications.
The lovechild of ACE Production and InterSelect Carlos Bouras of Nordson Select gave us the rundown of the result of the integration and combination of ACE Production and InterSelect GmbH - the new Integra.
American Battery Metals, U.S. lawmakers convene American Battery Metals Corporation has completed a series of meetings with lawmakers and personnel in the Department of Energy and Department of the Interior in Washington, D.C., to discuss issues critical to the domestic battery production and storage industry.
Cogiscan, Critical Mfg. form strategic partnership Quebec, Canada-based Cogiscan and Critical Manufacturing, headquartered in Portugal, have forged a strategic partnership to deliver smart factory solutions for electronics manufacturers.
Collins Aerospace expanding in North Africa Collins Aerospace Systems, a unit of United Technologies Corp., has taken the first step toward the expansion of its existing site in Casablanca, Morocco.
The advantage of Vantage - Garrett Wong tells the tale Nordson Asymtek's Garrett Wong gives us a rundown of the business year and also details the Vantage Advantage
Saki’s Eddie Ichiyama details a very successful business year Eddie ichiyama from Saki gave us an update on how 2019 has been for the company and also shared some details on the recent expansion in the Czech Republic.
The ripple effect of Enrico Krog Iversen while being an active part in creating one of the fastest growing robotics companies in modern time might have been enough for most people, that does not seem to have slowed down a certain Danish entrepreneur.
Yamaha's Ichiro Arimoto on the business year and the company's new ventures Evertiq had the opportunity to talk to Ichiro Arimoto, General Manager of Yamaha Motor Europe, about the business year and the company's new ventures.
Sponsored content by NCAB Group Benelux B.V.Failure is not an option for a PCB More than 30% of the Gerbers NCAB Group Benelux B.V. reviews, have problems. However, the PCB are integrated in key end-user product with more and more High Tech PCB. We are here to support you on the new technologies growth to maintain a high reliability and quality. Contact us to review it together.
Mycronic, Indium forge strategic partnership Indium Corporation has announced a strategic partnership with Sweden-based Mycronic, to develop no-clean and water soluble solder pastes for jetting applications.
SCHMID delivers PlasmaLine to Hofstetter PCB SCHMID announced it has installed the company’s first PlasmaLine comprising ICP etch & sputter deposition of its Korean JV SCHMID AVACO at Hofstetter PCB AG in Switzerland.
Cobot market to reach USD 9+ billion by 2025 A new report from Tractica is forecasting continued rapid growth for the global collaborative robot (cobot) market over the next few years, reaching revenue of USD 9.7 billion by 2025.
MixComm scores USD 8+ million in series B round New Jersey-based fabless semiconductor company MixComm has secured USD 8.6 million in series B funding led by existing investor, Kairos Ventures.
Sponsored content by EsemdaContract manufacturer Esemda opens new facility in Vilnius and expands EMS The new facility has been built with reserved space for future expansions. As Esemda constantly grows, it is of great importance to be able to rapidly increase production capacity in large volumes.
SIA elects 2020 leadership The Semiconductor Industry Association (SIA) Board of Directors has elected ON Semiconductor CEO Keith Jackson as its 2020 Chair and Qorvo CEO Robert Bruggeworth as its 2020 Vice Chair.
Si wafer shipments recede for fourth straight quarter Worldwide silicon wafer area shipments slid for the fourth consecutive quarter of 2019, according to the SEMI Silicon Manufacturers Group (SMG) in its most recent quarterly analysis of the industry.
Decline in Q4 DRAM contract prices lessens as buying momentum recovers According to the latest analysis from the DRAMeXchange research division of TrendForce, Q4 DRAM ASP is as of yet undergoing a slight QoQ decline, but this decline has shrunk down to 5%.
Technica forms growth-focused equity fund San Jose-based Technica USA has reached an agreement on an equity investment centered on future growth for the global PCB fab and assembly supplier.Load more news