HELSINKI, FINLAND – PKC Group’s third-quarter revenue decreased 0.5% year-over-year to EUR 210.7 million (US$266 million).

EBITDA before nonrecurring items was EUR 15.2 million, 7.2% of revenue, down 10.6% year-over-year. Operating profit before nonrecurring items was EUR 8.4 million, 4% of revenue, down 12.5% compared to 2013.

For the first nine months, revenue was EUR 620.9 million, down 7.6% year-over-year. EBITDA before one-time items was EUR 39.7 million, down 29.6% year-over-year. Operating profit was EUR 19.6 million, 3.2% of revenue, down 42.7% compared to 2013.

PKC Group estimates 2014 revenue and comparable EBITDA will be lower than in 2013. In 2013, PKC’s revenue was EUR 884 million and comparable EBITDA before nonrecurring items was EUR 70.3 million. Market demand for Electronics segment’s products is expected to remain at the present level.

“In China, PKC is designing a wiring systems solution for a specialty vehicle for a Chinese truck manufacturer. Production of the specialty truck will start in 2015,” said Matti Hyytiäinen, president and CEO. “In Serbia, the foundation stone for the new factory was laid on Sept. 5. I am especially pleased that the ramp of our factory in Serbia is proceeding on schedule and that our customers have been happy with our service.”

Ed.: EUR 1 = US$1.2623

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