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INCAP LOWERS ITS RESULT ESTIMATE FOR THE YEAR 2008
Incap Corporation Stock Exchange Release 3 February 2009 at 9 a.m.
Based on the restructuring of the company's production Incap recognises a total of approx. EUR 0.9 million of non-recurring expenses in its fourth quarter result 2008. The restructuring is connected with the reorganisation programme, which was launched in 2008 and aims at clear improvement of profitability.
After the recognition, Incap Group's full-year operating profit 2008 will according to preliminary calculations be approx. EUR 3.8 million negative. Incap has previously on 5 November 2008 estimated the full-year operating profit from operations to be approx. EUR 2.8 million negative.
Based on preliminary calculations, Incap Group's full-year revenue in 2008 is approx. EUR 93 million or about 12% higher than in 2007. This is in line with the previous guidance, according to which the revenue was estimated to be clearly higher than in 2007.
Incap will publish its financial statement for 2008 on Wednesday 25 February 2009.
President and CEO
Sami Mykkänen, President and CEO, Tel. +358 40 559 9047
Eeva Vaajoensuu, CFO, Tel. +358 40 763 6570
Hannele Pöllä, Director, Communications and HR, Tel. +358 40 504 8296
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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 new competitiveness as a strategic partner. Incap has operations in Finland, Estonia and India. The Group's revenue in 2007 amounted to EUR 83 million and the company currently employs approximately 730 people. Incap's share is listed on the NASDAQ OMX Helsinki. Additional information: www.incap.fi.