SEMCON: Structural Costs and Provisions Affect Semcon’s Fourth Quarter

Regulatory News:

Semcon (STO:SEMC)

Following the introduction of a market-oriented organization in the field of engineering services, structural costs will have an impact the fourth quarter by around SEK 10 million. The reorganization is expected to generate annual savings of SEK 6 million. Besides structural costs, the fourth quarter will also be affected by depreciation in a major project of SEK 5 million. In addition, Automotive R & D had a relatively weak performance in the fourth quarter mainly due to project delays.

Demand is expected to improve gradually and Semcon foresees a positive performance for 2014.

Semcon is a global company active in the areas of engineering services and product information. The Group has 3,000 employees with extensive experience from many different industries. We develop technologies, products, plants and information solutions along the entire development chain and also provide many services including quality control, training and methodology development. Semcon boosts customers’ sales and competitive strength by providing them with innovative solutions, design and solid engineering solutions. The Group has sales of SEK 2.6 billion and activities at more than 45 sites in Sweden, Germany, the UK, Brazil, Hungary, India, China, Spain and Russia.

This information was brought to you by Cision http://news.cision.com