United Power Technology AG announced earnings results for the nine months of 2016. For the nine months, the company reported revenues decreased by EUR 25.3 million to EUR 66.0 million representing a decline of 27.8%. The main driver for this result is the prolonged industrial contraction that has already burdened the demand for engine-driven power equipment during the last year. EBIT decreased to EUR 3.1 million from EUR 10.1 million a decline of 69.2%. Year-on-Year the Group's profit for the period decreased by 77.4% to EUR 1.5 million as it was EUR 6.7 million in the first nine months 2015.

The company revised its guidance for the full financial year 2016. For the full financial year 2016 the Group thus expects 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.