Revised forecast for Componenta's second quarter result
Componenta Corporation Stock Exchange Release 10.6.2005 at 14.00
Revised forecast for Componenta's second quarter result
Componenta's result after financial items, excluding one-time items in
the second quarter of 2005 is forecast to be EUR 2-3 million and net
sales should increase some 20% from the previous year. The sales profit
of approximately EUR 2 million from selling the shares of associated
company Keycast for approximately EUR 6.6 million will improve
Componenta's 2005 result.
Componenta announced earlier that the second quarter result after
financial items, excluding one-time items was expected to be better than
the corresponding period in the previous year (MEUR 2.7). However,
ramping up production at the modernized Karkkila foundry in the second
quarter has been slower than expected. The production organization at
Karkkila was restructured and strengthened early in June and a new
melting furnace was brought into operation that will boost production
capacity. As from 13 June 2005, Karkkila foundry will switch from four
shifts to three, which will reduce by 40 the number of leased personnel
and lighten the cost structure at Karkkila. These changes are expected to
raise production efficiency at Karkkila and speed up normalizing the
production.
Helsinki, 10 June 2005
COMPONENTA CORPORATION
Heikki Lehtonen
President and CEO
Further information:
Heikki Lehtonen
President and CEO
tel. +358 10 403 00
Kimmo Virtanen
CFO
tel +358 10 403 00