United Power Technology Ag Reports Consolidated Earnings Results for the First Quarter Ended March 31, 2015; Confirms Earnings Guidance for the Full Year 2015
The Management Board of the company confirms its outlook for 2015 as published in the annual report 2014. The company expects the overall financial results in the full year 2015 again to be weaker than in 2014. Concerning the group revenues expects to halt the downward trend in 2015 assuming a stable RMB: EUR exchange rate of 6.7:1. Although the company predicts to halt the downward trend of group revenues in 2015, the Management foresees gross margin and EBIT margin to drop by about 2 to 5 percentage points. The latter is mainly due to further price adjustments, higher fixed asset depreciation as well as a significant step up in sales, brand building and distribution as well as research and development budget.