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PKC Group Oyj (PKC1V.HE)

PKC1V.HE on Helsinki Stock Exchange

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Latest Key Developments (Source: Significant Developments)

PKC Group H1 comparable EBITDA from continuing operations rises 15%
Wednesday, 10 Aug 2016 01:15am EDT 

PKC Group Oyj : H1 revenue from continuing operations 433.1 million euros ($483 million) versus 415.2 million euros year ago . H1 comparable EBITDA from continuing operations increased 15.0 pct on comparison period (1-6/2015), totalling 33.3 million euros . Estimates that with prevailing exchange rates 2016 revenue from continuing will be close to previous year level .Outlook for 2016 comparable EBITDA remains unchanged to be higher than previous year level..  Full Article

PKC Group awarded rolling stock contract with total value up to EUR 200 mln
Wednesday, 10 Aug 2016 01:10am EDT 

PKC Group Oyj : Says has been awarded major rolling stock contract with total value up to 200 million euros ($223.02 million) . Days has won new rolling stock business contracts from Bombardier Transportation (BT) following the recently signed global partnership agreement in the amount of about 50 million euros as fixed orders and about an additional 150 million euros as options . Deliveries to this contract will commence immediately and will continue with fixed portion of contract until year 2019 . In addition, PKC Group has been awarded by BT a first contract to enter the UK railway market which is expected to grow strongly in the coming years . The value of the first UK contract is estimated to be maximum 5 million euros .Deliveries are expected to begin already during the remainder of the year and continue until 2019.  Full Article

PKC Group to lay off up to 1,000 employess in its North American organization
Wednesday, 10 Aug 2016 01:05am EDT 

PKC Group Oyj : Decided to reduce production capacity and to cut fixed cost in its North AmericanoOperations. . Estimates that North American truck production volumes continue to decrease and to be on a lower level for medium term. . Estimated annual cost reduction is 9 million euros ($10 million) for 2017 onwards. . Related non-recurring items will amount 4.5 million euros .Personnel reductions will be maximum 1,000 persons.  Full Article

PKC Group signs global partnership agreement with Bombardier Transportation
Wednesday, 25 May 2016 01:00am EDT 

Pkc Group Oyj : Signs global partnership agreement with Bombardier Transportation . Agreement makes PKC partner to Bombardier Transportation with opportunity to capture 40-70 pct of Bombardier Transportation's annual buy of electrical systems commodity .Agreement is global extension to previous local agreement with Bombardier Transportation in Europe.  Full Article

PKC Group comments on FY 2016 guidance
Wednesday, 4 May 2016 01:15am EDT 

PKC Group Oyj:Sees FY 2016 comparable EBITDA from continuing operations to be higher than previous year level.Sees FY 2016 revenue from continuing operations (i.e. excluding Electronics business) to be at or above previous year level.  Full Article

PKC Group to start negotiations on creating JV with an electronics manufacturer
Tuesday, 3 May 2016 02:00am EDT 

PKC Group Oyj:Signed an agreement to start negotiations on creating a joint venture (JV) with a company specialized on electronics manufacturing.Establishment of joint venture is subject to e.g. negotiating definitive agreements and authority approvals.Finalization is targeted to take place in Q1 2017.As of January-March 2016 interim statement PKC’s Electronics business will be classified as a non-current asset held for sale and reported as discontinued operations.Classification will have an impact on PKC's outlook on revenue and comparable EBITDA for year 2016.  Full Article

PKC Group and JAC form joint venture in China
Tuesday, 29 Mar 2016 04:20am EDT 

PKC Group Oyj:Says makes a major breakthrough in China by establishing a joint venture with Anhui Jianghuai Automobile Co., Ltd's (JAC) subsidiary Hefei Jianghuai Automobile Co., Ltd (Hefei JAC).50/50 joint venture is accomplished through a new company that will be established by Hefei JAC and PKC in city of Hefei in Anhui province in China with an equity value of 100 million yuan (14 million euros at current exchange rate).Finalization is targeted in H2 2016.Joint venture will deliver full design & development, manufacturing and sequence delivery services to JAC group companies.Joint venture is estimated to generate about 350 million yuan (about 50 million euros at current exchange rate) revenue.PKC contributes 50 million yuan (7 million euros at current exchange rate) via equity to be financed from PKC's cash resources.Says joint venture is estimated not to have a significant impact yet on PKC Group's 2016 result.  Full Article

PKC Group Oyj proivdes a dividend for FY 2015, proposes outlook for FY 2016
Thursday, 11 Feb 2016 01:15am EST 

PKC Group Oyj:Dividend proposal is 0.70 euro per share​ for FY 2015.Estimates that with prevailing exchange rates 2016 revenue will be at or above previous year level and comparable EBITDA will be higher than previous year level​.Sees 2016 ‍revenue and comparable EBITDA improvement is to take place in second half of year​.  Full Article

PKC Group tax appeal for 2009 business restructuring rejected
Thursday, 7 Jan 2016 01:00am EST 

PKC Group Oyj:PKC's tax appeal for business restructuring carried out in 2009 rejected by Board of Adjustment of Finnish Tax Authorities.According to Board of Adjustment's decision company is obliged to pay 8.3 million euros additional taxes, punitive tax increases and interests in case concerning wiring systems business restructuring carried out in 2009​.‍Says is of opinion that it has complied with tax laws, OECD's transfer pricing guidelines and tax administration's guidelines.  Full Article

PKC Group raises FY 2015 revenue outlook
Thursday, 6 Aug 2015 01:15am EDT 

PKC Group Oyj:Sees FY 2015 revenue will be higher than previous year level, and that comparable EBITDA will be higher than in FY 2014.In FY 2014, PKC's revenue was 829.5 million euros and comparable EBITDA before non-recurring items was 48.6 million euros.FY 2015 revenue 900.03 million euros - Thomson Reuters I/B/E/S.  Full Article

BRIEF-PKC Group to lay off up to 1,000 employess in its North American organization

* Decided to reduce production capacity and to cut fixed cost in its North AmericanoOperations.