Stock Exchange Release 11 February 2014 at 8 a.m. (EET)
PRELIMINARY INFORMATION ON INCAP'S FINANCIAL PERFORMANCE IN 2013
Based on preliminary calculations, the full-year revenue 2013 of Incap Group is estimated to be approximately EUR 36.8 million in line with the financial guidance given for 2013 on 31 October 2013.
Due to the non-recurring items, which will be recognised in the profit and loss statement for 2013, the Group's operating profit/loss is preliminarily estimated to be approximately EUR -5.8 million. The respective non-recurring expenses amount to approximately EUR 2.7 million and cover write-offs of inventory and credit losses as well as provisions for rental costs and salaries for terminated job contracts.
Fredrik Berghel, CEO of Incap Group: "We are obviously not pleased to recognise the non-recurring items, which are affecting our profit for last year. These items have a historic background and cannot be changed at this point. We have in October-January implemented successfully our turnaround program, which has laid a solid base for profitable operations. We expect the full effects of realised actions to become visible during the second half of the year."
Incap estimated in its interim report for January-September on 31 October that the Group's revenue in 2013 will be approximately EUR 36 million and the full-year operating result will be negative. The operating profit/loss for January-September 2013 amounted to EUR -2.2 million.
Incap will publish the financial statement for 2013 on 25 February 2014.
President and CEO
Fredrik Berghel, President and CEO, tel. +46 73 202 2210
Kirsti Parvi, CFO, tel. +358 50 517 4569
NASDAQ OMX Helsinki Ltd.
INCAP IN BRIEF
Incap Corporation is an internationally operating contract manufacturer whose comprehensive services cover the entire life-cycle of electromechanical products from design and manufacture to maintenance services. Incap's customers include leading equipment suppliers in energy-efficiency and well-being technologies, for which the company produces competitiveness as a strategic partner. Incap has operations in Finland, Estonia, India and China. The Group's revenue in 2012 amounted to EUR 64.1 million, and the company currently employs approximately 470 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.
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Source: Incap Oyj via Globenewswire