INCAP LOWERS ITS RESULT ESTIMATE FOR THE YEAR 2009 AND PREPARES INCREASE OF SHARE CAPITAL
(Thomson Reuters ONE) - Incap Corporation Stock exchange release4 February 2010 at 9.15 a.m.INCAP LOWERS ITS RESULT ESTIMATE FOR THE YEAR 2009 AND PREPARES INCREASE OFSHARE CAPITALBased on the possible closing down of Vuokatti factory, Incap recognises a totalof approx. EUR 2.5 million of non-recurring expenses in its fourth quarterresult 2009. After the recognition, Incap Group's full-year operating profit2009 is estimated, according to preliminary calculations, to be approx. EUR 4.9million negative. Taking into consideration the provision made for the financialyear 2008, there is altogether EUR 3.1 million reserved for the restructuring ofproduction.Incap estimated in the interim report published on 4 November 2009 that itsoperating result for the latter half of the year will be better than of thefirst half of the year and that the operating result for the whole year isclearly better than in 2008. Operating result of the first half of the year2009 was 1.0 million negative. Full-year operating result for 2008 was 3.6million negative. Incap's revenue for 2009 is EUR 70 million as estimatedpreviously.In order to strengthen the company's financial position, the Board of Directorsplans a rights issue, which will be implemented or decided at the latest in theAnnual General Meeting that will be held on 13 April 2010. The Board has anauthorisation from the Annual General Meeting in 2009 to increase the sharecapital through one or more rights issues so that the total number of new sharesto be subscribed for on the basis of the authorisation is a maximum of1,200,000 shares.Incap will publish its financial statement for 2009 on Wednesday 24 February2010.INCAP CORPORATIONSami Mykk?nPresident and CEOFurther information:Sami Mykk?n, President and CEO, Tel. +358 40 559 9047Eeva Vaajoensuu, CFO, Tel. +358 40 763 6570Hannele P?, Director, Communications and HR, Tel. +358 40 504 8296DISTRIBUTIONNASDAQ OMX Helsinki LtdPrincipal mediawww.incap.fiINCAP IN BRIEFIncap Corporation is an internationally operating contract manufacturer whosecomprehensive services cover the entire life-cycle of electromechanical productsfrom design and manufacture to after-sales services. Incap's customers includeleading equipment suppliers in energy efficiency and well-being technologies,for which the company produces competitiveness as a strategic partner. Incap hasoperations in Finland, Estonia and India. The Group's revenue in 2008amounted toEUR 94 million and the company currently employs approximately 770 people.Incap's share is listed on the NASDAQ OMX Helsinki. Additional information:www.incap.fi.[HUG#1380455]
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Datum: 04.02.2010 - 02:17 Uhr
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