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

• Consolidated Revenues grew by 6% to 11.578 mn EUR 
• EBIT improves by 0.386 mn EUR to +0.326 mn EUR 

 

UET United Electronic Technology AG (ISIN: DE000A0LBKW6), Eschborn, releases selected financial figures for the operating business units SYSTEMS, MANUFACTURING and SERVICE for the first quarter 2014. 

In the first three months (January to March) of the fiscal year 2014 the operating companies of the UET core electronic business units generated consolidated revenues of 11.578 mn EUR. Revenues were 6% higher compared with the same period of the previous year. 

Earnings before interest, taxes (EBIT) improved by 0.386 mn EUR to +0.326 mn EUR. 

All operating units and companies were able to improve the operating performance and results compared to the same period of the previous year. Excluding consolidation effects revenues and operating profit are: 

ELCON Systemtechnik within the business unit SYSTEMS grew revenues from 6.957 mn EUR to 7.948 mn EUR which represented an increase of 14%. Earnings before interests, taxes, depreciation and amortisation (EBITDA) have been improved by 33% to 0.433 mn EUR. ELCON’s EBIT grew by 78% to +0.130 mn EUR. Investments in Research and Development for the further targeted market and product development have been increased as planned. 

For the business unit MANUFACTURING LETRON Electronic reports revenues of 2.878 mn EUR which is 9% lower. After the successful restructuring performed in 2013 the EBITDA improved by 0.135 mn EUR to +0.089 mn EUR. EBIT grew from -0.051 mn EUR by 0,138 mn EUR to +0.087 mn EUR. NEWTAL Elektronik & Systeme increased revenues by 24% to 2.820 mn EUR and grew the EBITDA by 0.150 mn EUR to +0.125 mn EUR. EBIT has been improved by 0.147 mn EUR to +0.101 mn EUR. Consequently both companies within the business unit MANUFACTURING generated a positive operating profit. 

Continuing its positive development of the recent quarters SUCONI Service within the business unit SERVICE reported additional growth. Revenues grew by 35% to 0.506 mn EUR. EBITDA and EBIT improved by 0.044 mn EUR. EBIT was +0.009 mn EUR compared to -0,035 mn EUR in the first quarter 2013. 

For the 2nd quarter 2014 further additional investments in product- and market development projects are scheduled. We expect another positive development for the current quarter. 

The reported financial figures do not include consolidation effects of existing non operating UET Holding companies. Extended full consolidated financials will be released with the next half year report.