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2010-02-01 14:30:00 CET 2010-02-01 14:30:23 CET REGULATED INFORMATION PKC Group Oyj - Company AnnouncementPKC GROUP IMPROVES ITS FULL-EAR ESTIMATEPKC Group Oyj Company Announcement 1 February 2010 3.30 p.m. PKC GROUP IMPROVES ITS FULL-EAR ESTIMATE PKC Group estimated in the 2009 third quarter interim report published on 29 October 2009 that the full-year operating profit will be negative. The group's reorganisation costs recognised in 2009 were smaller than had been estimated, as a result of which the full-year operating profit shall be slightly positive. The preliminary estimates are unaudited and are not based on financial statements approved by the Board of Directors. The financial statements bulletin will be published on 18 February 2010 at 8.15 a.m. The previous outlook for the future, published in the Interim Report 1-9/2009, was in its entirety as follows: “It is currently difficult to estimate how long the economic downturn will last. We estimate that the low predictability in the demand in commercial vehicle industry and general uncertainty of financing will keep the demand for wiring harnesses exceptionally low. We also estimate that demand for electronics design and manufacturing services in the market will weaken compared to last year. We predict that the full-year net sales will decrease substantially and for operating profit to be negative. The full year estimation contains significantly more uncertainty than usual due to the customer segments' exceptionally short outlooks. Thanks to the low need for capital expenditures and decrease of working capital, cash flows after investments are expected to be positive. PKC's balance sheet, liquidity and good customer relationships all enable improvement in PKC's relative competitive position.” PKC Group Oyj Board of Directors Harri Suutari President and CEO For additional information, contact: Harri Suutari, President & CEO, PKC Group Oyj, +358 400 384 937 DISTRIBUTION NASDAQ OMX Main media www.pkcgroup.com The PKC Group offers design and contract manufacturing services for wiring harnesses, cabling and electronics. The Group has production facilities in Finland, Brazil, China, Mexico, Poland, Estonia and Russia. The Group's net sales in 2008 totalled EUR 311.7 million. PKC Group Oyj is listed on NASDAQ OMX Helsinki Ltd. |
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