Electronics Production | October 19, 2007
PKC sales up 28,9% in Jan-Sep
The PKC Group's net sales in the first nine months increased by 28.9% on the previous year to EUR 210.6 million (163.3 million). Operating profit was EUR 21.4 million (20.3 million) and profit before taxes was EUR 20.0 million (19.7 million).
”Consolidated net sales continued to grow strongly in both business segments and profitability remained at a good level. In Wiring Harnesses business we were able to meet increased demand and to achieve a good level of operating profitability. During the rest of the year we will put the extension to the production facilities in Pskov, Russia into service, effectively doubling the factory's available capacity. Thanks to the extension, we will be able to respond to growing demand on the European markets in the future as well. Growth in Electronics business exceeded earlier forecasts. We were able to meet increased volumes thanks to investments made earlier. The phasing of project delivery sales to the current quartile was also a factor in enabling us to post an excellent operating profit. Competition for new customer relationships remains stiff, which requires us to continue investing in new customer acquisition and in boosting our capacity in China. We are looking to become more competitive in both business segments by developing sourcing operations in Asia in order to meet the challenges of thefuture. Maintaining good competitiveness and a good level of profitability stipulates that we continue to improve cost-efficiency in both business segments.” 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 vehicles were likewise at a good level. Sales of wiring harnesses and cabling to the telecommunications and electronics industries continued at a lower level than last year. The growth in electronics contract manufacturing and design exceeded previous forecasts. Investments by telecommunications customers have increased the volume of design deliveries and demand for industrial electronics remained strong. Competition for new supply contracts and customer relationships remains tough, which requires the adoption of cost-efficient operating models and the ability to rapidly respond to customers' global needs. Consolidated net sales in July-September amounted to EUR 66.9 million (54.0 million), up 24.0% on the same period a year earlier. Consolidated operating profit totalled EUR 7.6 million (5.3 million), amounting to 11.3% of net sales (9.8%). Depreciation amounted to EUR 1.9 million (1.6 million). Financial income and expenses were EUR 0.1 million negative (0.1 million negative). Profit before taxes was EUR 6.8 million (5.2 million). Profit for the report period totalled EUR 4.4 million (3.7 million). Net sales generated by the Wiring Harnesses business segment during the report period were EUR 50.2 million (42.2 million), up 19.0% on the comparison period. Its share of consolidated net sales was 74.9% (78.1%). Operating profit was EUR 3.3 million (3.3 million), or 6.6% of the segment's net sales (7.9%). Net sales generated by the Electronics business segment rose by 41.7% to EUR 16.8 million (11.8 million), representing 25.1% of consolidated net sales (21.9%). Operating profit was EUR 4.2 million (2.0 million), or 25.3% (16.0%) of the segment's net sales. Consolidated net sales during the report period totalled EUR 210.6 million (163.3 million), a growth of 28.9% on the previous year. Consolidated operating profit totalled EUR 21.4 million (20.3 million), amounting to 10.1% of net sales (12.5%). Depreciation amounted to EUR 5.6 million (4.5 million). Financial income and expenses were EUR 1.4 million negative (0.6 million negative). Profit before taxes was EUR 20.0 million (19.7 million). Profit for the report period was EUR 14.2 million (13.5 million). Diluted earnings per share were EUR 0.79 (0.76). Net sales generated by the Wiring Harnesses business segment during the report period rose by 30.9% to EUR 168.0 million (128.4 million). Its share of consolidated net sales was 79.8% (78.6%). The operating profit of the Wiring Harnesses business totalled EUR 13.8 million (15.1 million), amounting to 8.2% of the segment's net sales (11.8%). The Electronics business segment saw a rise in net sales of 21.6% to EUR 42.5 million (35.0 million), accounting for 20.2% of consolidated net sales (21.4%). The Electronics business segment reported an operating profit of EUR 7.5 million (5.2 million), amounting to 17.8% of the segment's net sales (14.5%). 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 have hedged a part of our future consumption of copper with derivative instruments. The earnings trend of the company's North American operations has fallen below expectations. Preparations for the start-up of electronics business operations in China have proceeded according to plan. Production volumes at the new factory in Pskov, Russia, were increased as planned.
Volkswagen intensifies e-mobility activities in China Volkswagen has initiated the next chapter for its business in China. The automotive giant plans to increase its share in JAC Volkswagen, its joint venture for e-mobility.
GPV Selects Aegis as global smart factory partner Driven originally by accelerating customer expectations for traceability, GPV has selected Aegis’ FactoryLogix Smart digital manufacturing solution, targeting multiple values and benefits.
REDCOM EMS expands certification for medical device manufacturing New York-based REDCOM EMS has secured ISO 13485:2016 certification, complementing the company’s existing ISO 9001:2015 and AS9100D certifications.
Ozark Integrated Circuits nabs U.S. Air Force grant Arkansas-based Ozark Integrated Circuits Inc., located in the Arkansas Research and Technology Park at the University of Arkansas, has received a USD 750,000 award from the U.S. Air Force.
Norwegian EMS adds employees to Polish unit The last couple of months Norautron has welcomed three new colleagues at its office in Sdunska Wola, Poland.
Daimler’s battery production in Kamenz gradually increases production Local battery production is described as an important success factor for Mercedes-Benz AG’s electric offensive and a key element to flexibly and efficiently meet the global demand for electrified vehicles.
Tepcomp invests in new additional production line Finnish EMS provider, Tepcomp Group, has made a significant investment at its production plant in Turku. The new surface mount technology production line will significantly improve the productivity and energy efficiency of the plant.
Valoe is on schedule with both production and expected deliveries Valoe says it will start manufacturing IBC test modules in Juva, Finland in June and cell deliveries from Lithuania to customers is scheduled to start according to plan.
AMTE Power and Britishvolt sign MoU for GigaFactory AMTE Power and Britishvolt plans to investigate collaborating to build the UK’s first full cycle battery cell GigaPlant, servicing the automotive and energy storage markets.
ALLPCB’s new SMT factory has launched production On May 10 2020, ALLPCB’s new – self-operated – SMT factory in Guangde, Anhui Province, China was officially put into production.
Schweizer starts production at its new location in China Following a construction period of one and a half years, production has now started at the company’s new high-tech printed circuit board plant in Jiangsu, China.
Jenoptik supplies generators to a US customer Through its Vincorion investment, Jenoptik received a long-term order for generators that an unnamed US customer is integrating into military vehicles.
Rolls-Royce takes heavy hit from COVID-19 – reduces workforce by 9000 The impact of COVID-19 on Rolls-Royce and the whole of the aviation industry is unprecedented. RR has already taken action to strengthen the financial resilience of its business and to reduce cash expenditure in 2020. However, this will not be enough.
Data Link Solutions to provide MIDS cabinet terminals to US Navy The U.S. Navy has awarded a USD 3.2 million production contract to Data Link Solutions (DLS), a joint venture between BAE Systems and Collins Aerospace, for new Multifunctional Information Distribution System (MIDS) cabinet terminals.
Incap restarts production in India In a move to contain the COVID-19 pandemic, the government of India instructed all state governments to introduce a lockdown in March. As a consequence, Incap had to close its factory in Karnataka, India on 23 March.
NAND Flash Revenue Undergoes 8.3% QoQ Growth in 1Q20 NAND Flash bit shipment in 1Q20 was relatively on par with 4Q19, says the DRAMeXchange research division of TrendForce. The overall ASP of NAND Flash products also climbed during the period. As a result, the global NAND Flash revenue for the quarter went up by 8.3% QoQ to USD 13.6 billion.
Gorenje reduces the number of layoffs At the end of April, due to a sharp drop in orders and revenues as a result of the COVID-19 pandemic, the Hisense Europe Group launched a redundancy program in four companies in Slovenia.
NA semiconductor equipment industry posts April 2020 billings North America-based manufacturers of semiconductor equipment posted USD 2.26 billion in billings worldwide in April 2020 (three-month average basis), according to SEMI.
AWS Electronics to wear the Incap name Following the acquisition of AWS Electronics Group by Incap Corporation in January 2020, the company's units in the UK and Slovakia will now be trading as Incap Electronics UK Ltd. and Incap Electronics Slovakia s.r.o.
PCB manufacturer SQP invests in new plasma treatment system As part of the continuous upgrade of the PCB manufacturing processes the Slovakian PCB manufacturer SQP International has invested in a new plasma treatment system.
Nordson delivers solid quarter considering COVID-19's impact on global end markets Nordson Corporation reported second quarter sales of USD 529 million, a 4% decrease compared to the prior year’s second quarter sales of USD 551 million.
Cicor expands its clean room set up in Bronschhofen Swiss EMS provider Cicor Group is currently expanding its site in Bronschhofen with a 60 square metre ISO Class 6 clean room.
Senate Dems to Trump: Release details of TSMC plant deal Democratic lawmakers are pressuring the Trump administration to respond to serious questions about Taiwan Semiconductor Manufacturing Co Ltd’s (TSMC) plans to build a USD 12 billion plant in Arizona, which the company announced last week.Load more news