PKC Oyj : Group Half Year Financial Report January-June 2017

PKC Group Plc Half Year Financial Report 11 August 2017 8.15 a.m.

PKC Group Half Year Financial Report January-June 2017

January-June 2017 highlights

• Revenue from continuing operations increased 12.4% on the comparison period (1-6/2016), totalling EUR 486.7 million (EUR 433.1 million).
• Comparable EBITDA from continuing operations increased 10.4% on the comparison period (1-6/2016), totalling EUR 36.7 million (EUR 33.3 million) and 7.5% (7.7%) of revenue.
• Net cash from operating activities was EUR -45.7 million (EUR -18.9 million) from continuing operations
• Following the completion of the voluntary public tender offer for all outstanding shares and stock options in PKC, MSSL Estonia WH OÜ, a wholly-owned indirect subsidiary of Motherson Sumi Systems Limited ('MSSL') has obtained ownership of over 90 per cent in the shares of PKC. MSSL Estonia WH OÜ has commenced redemption proceedings in respect of PKC's minority shares.

PKC Group's outlook for 2017

Following the completion of MSSL Estonia WH OÜ's public tender offer for all outstanding shares and stock options in PKC Group Plc, the company no longer publishes outlook or guidance.

Key figures (from continuing operations)	1-6/17	1-6/16	Change %	1-12/16
EUR 1,000 (unless otherwise noted)
Revenue	486,689	433,090	+12.4	845,672
EBITDA*	36,699	33,253	+10.4	64,357
% of revenue	7.5	7.7		7.6
Items affecting comparability	-10,060	-		-5,353
Operating profit	9,987	17,634	-43.4	26,537
% of revenue	2.1	4.1		3.1
Earnings per share (EPS), EUR	0.06	0.31	-80.6	0.43
Revenue by geographical locations
Europe	169,897	159,475	+6.5	301,571
North America	249,935	233,326	+7.1	458,942
South America	26,225	16,168	+62.2	36,591
APAC	40,633	24,120	+68.5	48,568
Net cash from operating activities	-45,737	-18,883		35,464
Working capital	146,659	122,345		89,880
Net debt	100,998	91,202		46,591
Gearing, %	66.7	62.7		30.2
Equity ratio, %	29.0	27.3		27.4
Average headcount	21,994	21,545	+2.1	21,920
* before items affecting comparability

Key strategic highlights 2017

PKC Group announced on 27 January 2017 that it divests 100% of PKC Electronics Oy shares to Enics, one of the biggest Electronics Manufacturing Service (EMS) provider in the world focusing on industrial electronic. The requirements of closing have been fulfilled and the closing became effective and ownership and control transferred on 28 February 2017.

PKC Group announced on 9 February that it was negotiating on the establishment of a joint venture with a Chinese wiring systems manufacturer. Parties have since completed negotiations and signed joint venture agreement during Q2.

PKC Group signed and closed a contract to buy the rolling stock electrical distribution system company Fortitude Industries Inc., in the state of New York (USA), which was announced on 31 March 2017.

PKC Group Plc

Board of Directors

Matti Hyytiäinen

President & CEO

For additional information, contact:

Matti Hyytiäinen, President & CEO, tel. [phone]

Attachment

PKC Half Year Financial Report January-June 2017

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, Germany, Lithuania, Mexico, Poland, Russia, Serbia and the USA. The Group's revenue from continuing operations in 2016 totalled EUR 846 million. PKC Group Plc is listed on Nasdaq Helsinki.

PKC half year financial report january-june 2017.pdf