KENDRION N.V. 
By Kendrion sees pressure on profit in 2012
Kendrion stated at the time of the publication of the first
quarter 2012 figures that it expects growth in revenue and
profit for the full year 2012 in comparison to 2011.
Revenue in the Industrial Magnetic Systems business unit in
the second quarter of 2012 did, however, decrease by 15% in
comparison to the same quarter of 2011. This decrease is
connected with the continuing economic uncertainty in
primarily Europe, which is causing new projects to be delayed
and customers to purchase less.
With respect to the Commercial Vehicle Systems business unit,
the results in the bus market are being realised according to
plan, but Kendrion is encountering disappointing results in
the truck market, with amongst others much
lower-than-expected volumes in India.
Order entry and revenue performance within the Industrial
Drive Systems and Passenger Car
Systems business units are developing satisfactorily to date,
albeit at a somewhat lower level than envisaged.
Based on the above developments, Kendrion is revising the
outlook downward for the full year
2012. Kendrion expects annual profit in 2012 to be 15 to 20%
lower than the normalised net profit
(EUR 20.5 million) for the full year 2011.
Kendrion continues to look to the (medium) long term with
confidence, particularly due to new projects in both the
automotive and the industrial market that will lead to growth
in revenue in the course of 2013.
Kendrion will publish its half-year results before the start
of trading on Thursday, 23 August 2012.
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Profile of Kendrion N.V.
Kendrion N.V., a solution provider, develops, manufactures
and markets innovative high-quality electromagnetic systems
and components for customers all over the world.
Kendrion's operations are carried out by four business
units focused on specific market segments, namely Industrial
Magnetic Systems, Industrial Drive Systems, Passenger Car
Systems and Commercial Vehicle Systems.
Kendrion has leading positions in a number of
business-to-business niche markets. Germany is
Kendrion's main market, although other countries are
becoming increasingly important.
Kendrion's activities
Kendrion develops advanced electromagnetic solutions for
industrial applications. These are used by customers all over
the world in systems such as lifts, door-locking systems,
industrial robots,
medical equipment, electrical switchbox systems, diesel and
gasoline engines, air-conditioning
installations, motor cooling systems and beverage dispensers.
Kendrion's key customers include a.o. Bosch,
Continental, Daimler, Delphi, Eaton, Evobus, Hyundai, Siemens
and Yutong.
Kendrion's shares are listed on NYSE Euronext's
Amsterdam market. Zeist, 8 August 2012
The Executive Board
Piet Veenema - Chief Executive Officer
Eiko Ris - Chief Financial Officer
Kendrion N.V. Mr P. Veenema Utrechtseweg 33
3704 HA ZEIST
THE NETHERLANDS
Tel: +31 - 30 - 699.72.69
Fax: +31 - 30 - 695.11.65
Website: www.kendrion.com
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