DGAP-Adhoc: Kontron AG reports second-quarter business upturn - result burdened by risk provision
27.07.2010
Kontron AG / Quarter Results
..
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
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- Second-quarter revenue rises to EUR 116.1 million
- New order intake amounts to EUR 168.8 million
- Result burdened by EUR 34 million risk provision
Eching, Munich, July 27, 2010. Kontron AG reported a marked upturn in
business trends in the second quarter of 2010, achieving revenue of EUR
116.1 million (prior year EUR 111.0 million). The low-margin Electronic
Manufacturing Services (EMS) - business was wound down entirely. First-half
revenues of EUR 213.8 million were still slightly below the previous year's
level (EUR 217.6 million). Growth of approximately 10 percent compared to
the prior-year period was nevertheless achieved in the strategic core ECT
business when taking into account the strategic renunciation of revenue
from the EMS business. Particularly in Europe, the slight economic upturn,
particularly in the mechanical engineering sector, made itself felt in a
positive way. Second-quarter new order intake performed at EUR 168.8
million. The order book position has risen since the start of the year (EUR
305.9 million) to currently EUR 398.1 million.
The strategic concentration on the high-margin core embedded systems
business was reflected in the second quarter in an increase in the gross
margin to 32.0 percent, compared with 30.4 percent in the prior-year
period. Operating earnings (EBIT) of EUR 8 million were achieved in the
second quarter. This figure was at the previous year's level as a
consequence.
After the Kontron AG Management Board formed a EUR 34 million risk position
in early July for outstanding receivables due from customers in Malaysia,
Taiwan and Hong Kong, these outstanding receivables were fully written down
in the second-quarter Kontron balance sheet. After the payment of the
dividend for the 2009 financial year and financial expenses for the
acquisition of AP Labs, cash and cash equivalents amounted to EUR 44.4
million, compared with EUR 71.6 million at the end of the first quarter.
In view of the strong new order intake, and the increasingly robust global
economy, the Kontron Management Board anticipates stable business trends
for the second half of 2010.
Investor Relations: Further information:
Gaby Moldan Dr. Udo Nimsdorf
Kontron AG Engel & Zimmermann AG
Oskar-von-Miller-Str. 1, Agentur für Wirtschaftskommunikation
D-85386 Eching Schloss Fußberg, Am Schlosspark 15,
Tel: 08165/77212,
Fax 08165/77222 D-82131 Gauting
Tel: 089-89 35 633, Fax: 089-89 39 84 29
E-mail: Gaby.Moldan@kontron.com E-mail: info@engel-zimmermann.de
.. Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
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Language: English
Company: Kontron AG
Oskar-von-Miller-Str. 1
85386 Eching
Deutschland
Phone: 08165-77-225
Fax: 08165-77-222
E-mail: martin.przybyla@kontron.com
Internet: www.kontron.com
ISIN: DE0006053952
WKN: 605395
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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Kontron AG / Quarter Results
..
Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted by
DGAP - a company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
=--------------------------------------------------------------------------
- Second-quarter revenue rises to EUR 116.1 million
- New order intake amounts to EUR 168.8 million
- Result burdened by EUR 34 million risk provision
Eching, Munich, July 27, 2010. Kontron AG reported a marked upturn in
business trends in the second quarter of 2010, achieving revenue of EUR
116.1 million (prior year EUR 111.0 million). The low-margin Electronic
Manufacturing Services (EMS) - business was wound down entirely. First-half
revenues of EUR 213.8 million were still slightly below the previous year's
level (EUR 217.6 million). Growth of approximately 10 percent compared to
the prior-year period was nevertheless achieved in the strategic core ECT
business when taking into account the strategic renunciation of revenue
from the EMS business. Particularly in Europe, the slight economic upturn,
particularly in the mechanical engineering sector, made itself felt in a
positive way. Second-quarter new order intake performed at EUR 168.8
million. The order book position has risen since the start of the year (EUR
305.9 million) to currently EUR 398.1 million.
The strategic concentration on the high-margin core embedded systems
business was reflected in the second quarter in an increase in the gross
margin to 32.0 percent, compared with 30.4 percent in the prior-year
period. Operating earnings (EBIT) of EUR 8 million were achieved in the
second quarter. This figure was at the previous year's level as a
consequence.
After the Kontron AG Management Board formed a EUR 34 million risk position
in early July for outstanding receivables due from customers in Malaysia,
Taiwan and Hong Kong, these outstanding receivables were fully written down
in the second-quarter Kontron balance sheet. After the payment of the
dividend for the 2009 financial year and financial expenses for the
acquisition of AP Labs, cash and cash equivalents amounted to EUR 44.4
million, compared with EUR 71.6 million at the end of the first quarter.
In view of the strong new order intake, and the increasingly robust global
economy, the Kontron Management Board anticipates stable business trends
for the second half of 2010.
Investor Relations: Further information:
Gaby Moldan Dr. Udo Nimsdorf
Kontron AG Engel & Zimmermann AG
Oskar-von-Miller-Str. 1, Agentur für Wirtschaftskommunikation
D-85386 Eching Schloss Fußberg, Am Schlosspark 15,
Tel: 08165/77212,
Fax 08165/77222 D-82131 Gauting
Tel: 089-89 35 633, Fax: 089-89 39 84 29
E-mail: Gaby.Moldan@kontron.com E-mail: info@engel-zimmermann.de
.. Ad hoc announcement, Financial News and Press Release distributed by DGAP.
Media archive at www.dgap-medientreff.de and www.dgap.de
=--------------------------------------------------------------------------
Language: English
Company: Kontron AG
Oskar-von-Miller-Str. 1
85386 Eching
Deutschland
Phone: 08165-77-225
Fax: 08165-77-222
E-mail: martin.przybyla@kontron.com
Internet: www.kontron.com
ISIN: DE0006053952
WKN: 605395
Indices: TecDAX
Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr
in Berlin, München, Hannover, Düsseldorf, Hamburg, Stuttgart
End of News DGAP News-Service
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