PEIXIN (PEX): Information on expected financial results for the year 2016 - raport 4

Raport bieżący nr 4/2017

Podstawa Prawna:
Art. 17 ust. 1 MAR - informacje poufne.

The Management Board of Peixin International Group N.V. with its incorporated seat in Amsterdam, the Netherlands /the "Company"/ informs that on 18 April 2017 the Company completed analysis regarding the preliminary financial results for the year 2016.

The Company anticipates that the revenues generated by the Group in 2016 will decrease approx. by 56% in comparison to the year 2015, from EUR 68,5 million for the year ended on 31 December 2015 to EUR 30,4 million for year ended on 31 December 2016. The decrease of revenues was mainly the result of the economic transformation of China, the pressure from the economic downturn has brought about the decrease of the demand of production and the purchase of machineries.

With the declining economy, the Company had to give up much more sale margin to the downstream consumers, the Company reduced the unit price of the machineries to get more orders, what influenced on profits as well. In consequence the Company expects fall of the gross profit approx. by 69% in 2016 in comparison to the year 2015, from EUR 20,1 million for the year ended on 31 December 2015 to EUR 6,3 million for year ended on 31 December 2016. The Company expects also decline of the net profit approx. by 93% in 2016 in comparison to the year 2015, from EUR 10,5 million for the year ended on 31 December 2015 to EUR 0,8 million for year ended on 31 December 2016.

Simultaneously the Company remains that complete information on consolidated financial results achieved by the Group of Peixin in year 2016 will be presented in the consolidated annual report for 2016, which will be disclosed on 28 April 2017.