UR Holding S.p.A.
UR Holding S.p.A.: Publication of provisional figures
UR Holding S.p.A. / Preliminary Results Release of a Corporate News, transmitted by DGAP - a company of EquityStory AG. The issuer / publisher is solely responsible for the content of this announcement. ---------------------------------------------------------------------- UR Holding S.p.A. Publication of provisional figures Consolidated revenue virtually unchanged at €46.4 million EBIT at €0.41 million Non-recurring extraordinary effects influence consolidated result Milan, 22 April 2008: UR Holding S.p.A. has published its provisional figures for the financial year 2007. Consolidated revenue amounted to €46.4 million, slightly less than the previous year's figure of €48.8 million. At €0.41 million, EBIT was also down year-on-year from €1.47 million on account of non-recurring effects. As a result, the Company reported a slightly negative consolidated result of €–0.4 million. Non-recurring extraordinary effects and investments in the expansion of the international Group structure squeezed earnings development in 2007. The international market position was strengthened by the acquisition of 2B Tronics LTD. (Israel) and the Austrian BEST Electronics Distribution GmbH and the road into the Eastern European growth market has been cleared. As the Company exceeded its budget figures, it has already largely written down the investments for the acquisition of the new subsidiaries. Further costs were incurred by the implementation of a new SAP system and negative currency effects due to the ongoing weakness of the dollar. In addition, earnings were impaired by the performance of the German subsidiary, which fell short of expectations. Structural changes have already been implemented here to remedy the situation. 'In the financial year 2007, we were able to set course for a successful and high-growth future in a difficult market environment and in spite of the ongoing dollar situation. Had it not been for non-recurring extraordinary effects, we would have achieved a positive result. Our key business volume was further expanded, reaffirming our strategic positioning and the Group's medium-term prospects. With targeted investments we leveraged the initial consolidation on our market to expand the international position of the UR Group. The repositioning of the German subsidiary through the measures that have been implemented is expected to be concluded in 2008. Also, we have succeeded in selectively supplementing our manufacturer portfolio in the Communications area. Thanks to new partnerships with renowned manufacturers such as Cortina Systems and NeoPhotonics, we can offer our customers new, high-quality and forward-looking products and services. Attracting such high-calibre manufacturers further strengthens the special market positioning of the UR Group on the European market. UR Holding's offering has been selectively expanded, its organisation structures streamlined and its management strengthened. After extending our market position in the 2007 financial year, we are excellently equipped for the competition in the high-tech electronics industry and will systematically continue our growth in spite of the extraordinary earnings impairment due to non-recurring effects,' commented Stefan Haas, CFO of UR Holding S.p.A. The Board of Management About UR Holding: Founded in 1996 and listed in the Entry Standard since 2006, UR Holding is one of Europe’s leading Demand Creation and sales organization for high-tech electronic components and subassemblies for embedded system solutions. UR adds critical technology know how, embedded systems expertiseand resources to help its customers to define, design and manufactureembedded system applications serving their global markets and growthstrategy. Company contact: UR Holding S.p.A. Viale Edison 44 20090 Trezzano s/N (Mi.) Italy Phone : +39-02-484-0158-0 Fax: +39-02-484-0158-1 financials@ur-home.com www.ur-home.com Investor Relations: GFEI mbH Hamburger Allee 26-28 60486 Frankfurt Phone: +49-(0)-69-743-037-00 Fax: +49-(0)-69-/-743-037-22 ir-urgroup@gfei.de www.gfei.de 22.04.2008 Financial News transmitted by DGAP ----------------------------------------------------------------------
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