PKC Group Oyj - Company Announcement

PKC’s acquisition of Groclin’s Wiring and Control business is completed and PKC updates the revenue outlook as a result of completion of the acquisition

PKC Group Plc         Company Announcement 1 July 2015     05.15 pm



PKC's acquisition of Groclin's Wiring and Control business is completed and PKC
updates the revenue outlook as a result of completion of the acquisition 



PKC Group announced on 13 February 2015 that it had signed a contract to buy
the rolling stock electrical distribution system business (Wiring & Controls
business) of Groclin S.A. Group, a company listed on the Warsaw stock exchange.
The deal includes Kabel-Technik-Polska Sp. z o. o. (‘KTP') operating in Poland,
which at the time of the closing will own the entire Wiring & Controls business
of Groclin S.A. Group. The requirements of closing have been fulfilled and the
closing will become effective and ownership and control will transfer on 1 July
2015. 



The Wiring & Controls business develops and manufactures electrical cabinets,
powerpacks and electrical distribution systems for rolling stock manufacturers.
The clientele also includes the on/off highway commercial vehicle, energy and
materials handling industry. The customers are leading companies in their field
and mainly operate globally. Wiring & Controls business revenue in 2014
totalled some EUR 56 million, normalised EBITDA % totalled some 7%, and number
of personnel at the end of 2014 totalled about 2,000. 



The net debt free purchase price is EUR 50 million. The acquisition takes place
via a new company, in which PKC Group has an 80% holding and Wiring & Controls
business' management has a 20% holding. PKC Group and minority shareholders
have agreed on a call option structure, within the framework of which PKC Group
will acquire the minority shareholders' shares not before than two years from
the closing of the deal. 



PKC Group's updated outlook for 2015



PKC Group estimates that with prevailing exchange rates 2015 revenue will be
higher than previous year level, and that comparable EBITDA will be higher than
in 2014. In 2014, PKC's revenue was EUR 829.5 million and comparable EBITDA
before non-recurring items was EUR 48.6 million. Revenue and EBITDA estimates
are based on current business structure. 



Earlier announced outlook for 2015



PKC Group estimates that with prevailing exchange rates 2015 revenue will be
close to previous year level, and that comparable EBITDA will be higher than in
2014. In 2014, PKC's revenue was EUR 829.5 million and comparable EBITDA before
non-recurring items was EUR 48.6 million. Revenue and EBITDA estimates are
based on current business structure. 





PKC Group has reclassified certain financial items and operating expenses as of
the beginning of 2015. The changes are minor and comparison periods have been
adjusted accordingly. 





PKC Group Plc



Board of Directors



Matti Hyytiäinen

President & CEO



For more information, please contact:

Juha Torniainen, CFO, PKC Group Plc, tel. +358 (0)40 570 8871





Distribution

Nasdaq Helsinki

Main media

www.pkcgroup.com





PKC Group is a global partner, designing, manufacturing and integrating
electrical distribution systems, electronics and related architecture
components for the commercial vehicle industry, rolling stock manufacturers and
other selected segments. The Group has production facilities in Brazil, China,
Estonia, Finland, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the
USA. The Group's revenue in 2014 totalled EUR 829.5 million. PKC Group Plc is
listed on Nasdaq Helsinki.