Connect Group - Interim Statement Q3 2014

Connect Group NV (Euronext Brussels: CONN) reports that sales are expected to fall by about 10 percent in the second half of this year compared with the first half (EUR 64.8 million).  In the 3rd quarter of 2014, Connect Group posted net sales of EUR 27.5 million, compared with EUR 29.7 million in Q3 2013. The operating result (EBIT) and net income are slightly negative. The order book at 30 September 2014 amounted to EUR 90 million (EUR 90 million at 30 June 2014).

Luc Switten: "Despite a structurally well-filled order book, deliveries to customers are lower than expected owing to a slowdown in the industry. We have taken a number of measures to adapt our policy and cost structure to current market conditions. In consultation with the Board of Directors we are also examining all possible scenarios to ensure the future profitability and growth of the company."   

The lower than expected sales and the implementation of a number of restructuring measures that have been decided will impact the result. The group expects to end the year with a small net loss.

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