Vacon lowers its full-year 2013 revenue guidelines and releases preliminary information on operating profit
Vacon Plc, Stock Exchange Release, 23 January 2014 at 8.30 am (EET)
Vacon's revenues developed weaker than expected in the final quarter of 2013.
October-December revenues declined from the corresponding period in the previous
year. Factors contributing to the decline were the postponement of some customer
deliveries until 2014 and the decline in sales in the EMEA region of products
for generating renewable energy.
The company estimates that its revenues in 2013 totalled approximately EUR 403
million (388.4 in 2012), an increase of 3.8% from 2012. Vacon estimates that its
operating profit percentage was approximately 10.1% in 2013 (9.4% excluding one-
time items in 2012). The 2013 figures presented are preliminary and unaudited.
In its market guidelines published previously, Vacon estimated that its revenues
would increase 5-15 % and that its operating profit percentage excluding one-
time items would be 10 - 12 % in 2013.
Vacon will publish its 2013 Financial Statements Bulletin on 6 February 2014.
* Â President and CEO Vesa Laisi, Vacon Plc, tel. +358 40 8371 510,
* Sebastian Linko, Director, Corporate Communications and Investor Relations,
Vacon Plc, tel. +358 40 8371 634, sebastian.linko(at)vacon.com
Vacon in brief:
Vacon is driven by a passion to develop, manufacture and sell the best AC drives
and inverters in the world - and provide customers with efficient product
lifecycle services. Our AC drives offer optimum process control and energy
efficiency for electric motors in many industrial sectors, such as building
automation, marine and offshore, mining and metals, water and wastewater, and
renewable energy. Vacon has production and R&D facilities in Europe, Asia and
North America, and sales offices in 29 countries. Further, Vacon has sales
representatives and service partners in nearly 90 countries. In 2012 Vacon had
revenues of EUR 388.4 million and globally employed some 1500 people. The shares
of Vacon Plc (VAC1V) are quoted on the main list of the Helsinki stock exchange
(NASDAQ OMX Helsinki).
Driven by Drives, www.vacon.fi
NASDAQ OMX Helsinki
Financial Supervisory Authority
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Vacon Oyj via GlobeNewswire