UET United Electronic Technology AG releases financial figures for operating business for the third quarter 2014

• Consolidated revenues grew by 1.671 mn EUR to 13.032 mn EUR 
• Increase in profit within the business units SYSTEMS and MANUFACTURING

 

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases selected financial figures for the operating business units SYSTEMS, MANUFACTURING and SERVICE for the third quarter from July 1st to September 30th, 2014. 

In the period from July to September of the fiscal year 2014 the operating companies of the UET core electronic business units generated consolidated revenues of 13.032 mn EUR, which represents an increase of 15% compared with the same period of the previous year. 

The operating units SYSTEMS and MANUFACTURING were able to improve the operating performance and results compared to the third quarter in 2013. Excluding consolidation effects revenues and operating profits are: 

ELCON Systemtechnik within the business unit SYSTEMS grew revenues from 7.734 mn EUR to 9.337 mn EUR which represents an increase of 21%. Despite higher expenditures for Research and Development the EBITDA improved by 0.774 mn EUR to +1.309 mn EUR. EBIT increased by 0.726 mn EUR to +0.967 mn EUR. With regard to revenue and operating result it has been the most successful quarter this year. 

For the business unit MANUFACTURING LETRON electronic reports a decline in revenues for the third quarter of 0.849 mn EUR to 2.140 mn EUR. As a result of the restructuring which took place in 2013 both EBITDA and EBIT could be improved. The improvements were +65% to +0.037 mn EUR and +95% to +0.036 mn EUR respectively. NEWTAL Elektronik & Systeme increased revenues by 14% to 3.058 mn EUR and im-´proved the EBITDA by 0.077 mn EUR to +0.136 mn EUR. EBIT has been improved by 0.074 mn EUR to +0.112 mn EUR. Consequently both companies within the business unit MANUFACTURING continued the positive results of the previous quarters. 

SUCONI Service in the business unit SERVICE reported a slight reduced revenue of 6% to 0.490 mn EUR for the 3rd quarter in comparison with the same period of the previous year. Both EBITDA and EBIT were negative and amounted to -0.012 mn EUR and therefore remain at the prior year’s level. 

We expect a stable development for the 4th quarter 2014. Started projects and programs will be continued as planned. 

The reported financial figures do not include consolidation effects of existing non operating UET Holding companies.