United Power Technology AG provided earnings guidance for the first six months of 2016 and revised earnings guidance for the full year 2016. On the basis of preliminary results, the company expects a revenue decrease of 14.6% to EUR 53.5 million in the first six months of 2016 compared with EUR 62.6 million for the same period last year. In addition, EBIT for the first six months of 2016 is expected to decrease by 56.0% to EUR 3.4 million compared to EUR 7.7 million for the same period last year.

In the light of the on-going challenging business development, which is expected to continue, the company revised its guidance for 2016. The company expects the group's revenue to fall between 20% and 30%, with the gross profit margin to decrease between 2% to 4% points and the EBIT margin to decline by up to 9% points. Before, the company expected to increase its revenue by a low single-digit percentage in EUR terms, while the EBIT margin was expected to remain stable compared to the previous fiscal year.