* Operating Revenues of EUR 132.6 Mill were 10.6% lower than last year. * EBIT was EUR 3.5 Mill against EUR 13.0 Mill in the same period last year. This gives an EBIT margin of 2.6% and 8.8% respectively. * The order book was at the end of 2nd quarter EUR 13.4 Mill (32.2%) higher than at the same time last year. * The restructuring processes at Klepp, Cognac, Gottmadingen and Nieuw Vennep are proceeding according to the planned timeframe, but have lead to delays in production, which have had negative effect on Operating Revenues. * Due to extraordinary costs related to restructuring activities in the 2nd quarter Kverneland Group reduces profit expectation for the year 2006. Net sales, manufacturing efficiency and costs have been affected. In connection to that a profit warning was sent out 12.07.2006.
+-------------------------------------------------------------------+ | For further information: | | Claus Udengaard Thomsen, Acting President & CEO Mobil: | | +45 306 83 423 | | E-mail: [email protected] | | | | You will also find Kverneland Group on the Internet | | Internet: http://www.kvernelandgroup.com | +-------------------------------------------------------------------+
Kverneland Group is one of the world's leading international companies within the development, production and marketing of agriculture and viticulture machinery and related services. The Group's current brand portfolio includes Kverneland, Accord, Vicon, RAU, Taarup, Grégoire, Lagarde and Vinestar. These strong, quality brands enable the Kverneland Group to offer unique and complete product ranges to both farmers and dealers within grass, soil preparation, fertilising, seeding, sprayers and machinery for vineyard mechanisation.
Kverneland ASA, the parent company, is listed on the stock exchange in Oslo and currently has production facilities in Norway, Denmark, Germany, the Netherlands, Italy, France and Australia, and sales companies in Europe, Russia, USA, South Africa, Australia and Canada. In addition, Kverneland enjoys well-established export relationships with several other countries around the world. The Group's turnover in 2005 was EUR 497 million and the Group had approximately 2300 employees throughout the world.
