United Power Technology AG Announces Earnings Results for the Six Months of 2015; Confirms Earnings Guidance for the Full Year of 2015
The company confirmed its outlook for 2015. It expects the overall financial results in the full year 2015 again to be weaker than in 2014. Concerning the group revenues United Power predicts 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% - 5% 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.