Turbon Sustains Double Digit Decline in Revenue

As reported in the newsletter OPI, German consumables manufacturer Turbon has sustained a 12.4% year-on-year (YoY) decline in revenues for the first 9 months of 2013.

Turbon’s earnings before interest and taxes (EBIT) were $6 million, falling by about 21%. The company attributes shrinking revenue to fierce price competition. It also assigns “half of the decrease” to unfavorable currency exchange rates and the deconsolidation, last year, of Turbon’s subsidiary, Kores Nordic Belgium.

Turbon is confident of its cost-saving initiatives and asserts that revenues from full-year sales will remain at around $107.6 million. The firm claims 4Q2013 would be its strongest for the year, heading for a pre-tax profit of about $6.7 million.