logo
Share SHARE
FONT-SIZE Plus   Neg

Vacon Q1 Pre-tax Profit Down - Quick Facts

Vacon (VCNYF.PK) reported that its first-quarter profit before taxes decreased to 6.0 million euros from 6.2 million euros in the same quarter last year. Earnings per share for the quarter declined to 0.25 euros from last year's 0.29 euros.

Revenues for the quarter totalled 91.3 million euros, a growth of 8.5 % from the corresponding period in the previous year's 84.2 million euros.

The company said that there were no signs of growth in the AC drive market in the first-quarter. But it expects the market to pick up towards the end of the year. The company still estimates that the global AC drive market will grow much faster than average growth in industrial production, at an estimated rate of 5-10 % in 2013.

The company said it has retained the market guidelines it published earlier and estimates that its revenues will increase 5% - 15% and that its operating profit percentage excluding one-time items will be 10% - 12% in 2013.

The company said its goal is to achieve revenues of 500 million euros in 2014. Its profitability target for 2014 is an operating profit of 14%, and for return on equity the target is more than 30%.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Alaska Air Group Inc., which completed its $2.6 billion acquisition of Virgin America last year, said that the combined company will adopt Alaska Air's name and logo. The Virgin America name will be retired, "likely sometime in 2019," the airline added. Apple Inc. has agreed to acquire Workflow, an iOS app for automating tasks, as well as its development team for an undisclosed sum. Workflow is a personal automation tool that enables the user to drag and drop combination of actions to create workflows for the iPhone, iPad and Apple Watch. After long negotiations to win over one of the largest and fastest growing smart phone markets, Apple has decided to assemble its 4-inch screen iPhone SE in India.
comments powered by Disqus
Follow RTT