VISIOCORP
Profit warning for 2008 / Restructuring is taking longer than expected
Ulrich Bruhnke, CEO of automotive supplier Visiocorp (Portchester / UK; www.visiocorp.com) – formerly Schefenacker – has announced that the rear view mirror specialist is unlikely to meet its profit target for 2008 even despite progress with restructuring. Visiocorp originally aimed to report sales of EUR 720m and raise EBITDA by 55% to EUR 70m. Now, EBITDA is expected to be just EUR 60.5m.
The reasons for the revised forecast are given as losses at three plants in Germany and Hungary, which will impact profits by EUR 8m more than originally expected. The situation is compounded by negative currency effects amounting to EUR 4m.
The reasons for the revised forecast are given as losses at three plants in Germany and Hungary, which will impact profits by EUR 8m more than originally expected. The situation is compounded by negative currency effects amounting to EUR 4m.
21.05.2008 Plasteurope.com [210858]
Published on 21.05.2008
German version of this article...