Weakened growth prospects in China have decreased raw material prices during past months, and this has weakened the investment demand in construction and mining machinery industry.
The order book was however 4% higher in the beginning of October than in at the same time in previous year EUR 82 million (EUR 79 million). Based on the order book and production estimates given by the customers Componenta expects the 2015 net sales to stay at the same level as in the previous year.
Due to lower than expected net sales and delays in cost savings arising from the efficiency improvement program, Componenta’s 2015 operating profit excluding one-time items and exchange rate differences of operative balance sheet items is expected to stay behind previous year. Due to the delays, this part of the cost savings is expected to realize in 2016.
However, Componenta’s result after financial items excluding one-time items is expected to improve from previous year due to exchange rate gains of operative balance sheet items and lower interest expenses.
Componenta’s net sales on third quarter was EUR 110 (111) million, preliminary operating profit excluding one-time items and exchange rate differencies of operative balance sheet items was EUR 1 (1) million and preliminary result after financial items excluding one-time items EUR -5 (-6) million.
New prospects for 2015 are as follows:
Componenta’s operating profit excluding one-time items and exchange rate differences of operative balance sheet items is expected to stay behind previous year. However, Componenta expects the 2015 result after financial items excluding one-time items to improve from previous year.
Earlier prospects for 2015 were:
Componenta expects the 2015 operating profit excluding one-time items and exchange rate differences of operative balance sheet items to improve from the previous year, as a result of the efficiency improvement program being carried out.
Helsinki, 19 October 2015
COMPONENTA CORPORATION
Heikki Lehtonen
President and CEO
For further information, please contact:
Heikki Lehtonen
President and CEO
tel. +358 10 403 2200
Mika Hassinen
CFO
tel. +358 10 403 2723
Componenta is a metal sector company with international operations and production plants located in Finland, Turkey, the Netherlands and Sweden. The net sales of Componenta were EUR 495 million in 2014 and its share is listed on Nasdaq Helsinki. The Group employs approx. 4,250 people. Componenta specializes in supplying cast and machined components and total solutions made of them to its global customers, who are manufacturers of vehicles, machines and equipment.