United Power Technology AG Reports Earnings Results for the First Quarter of 2014; Reaffirms Earnings Outlook for the Year 2014
The company confirmed its outlook for 2014 as published in the annual report 2013. Total revenues are expected to be slightly lower in 2014 compared to the previous year due to slightly lower revenues in the residential and commercial generator segments. With respect to the company's profitability, gross profit and the EBIT margin are also expected to be somewhat lower compared to 2013 due to expected further RMB appreciation and higher fixed asset depreciation as well as a larger research and development budget.