Efore - Company Announcement

EFORE PLC LOWERS ITS FINANCIAL ESTIMATE FOR 2015

Espoo, Finland, 2015-12-14 15:15 CET (GLOBE NEWSWIRE) -- EFORE PLC  Stock
Exchange Release   December 14, 2015    4.15 p.m. 

Efore Plc lowers its financial estimate for 2015. The company will write off
capitalized product development costs as a result of the customer’s decision
not to continue to develop a certain product line. Furthermore, in connection
with inventory and balance sheet review it has been recognized other items to
be expensed in 2015. 

In a challenging market situation it is not possible to compensate costs with
sales and as a consequence, the operating result forecast is lowered. 

New financial estimate is:
The Company estimates its net sales of financial year 2015 to be EUR 86 to 92
million and results from operating activities without one-time items to be EUR
1-2 million negative. 

Previous financial estimate was:
The Company estimates its net sales of financial year 2015 to be EUR 86 to 92
million and results from operating activities without one-time items to be at
break-even level or mildly positive. 

Efore continues a cost saving and efficiency improvement programme started
during the summer. The company structure has been streamlined and the
organisation has been flattened through integration of business units.
Furthermore, the cost structure of certain products has been improved and there
are production efficiency improvements both at Tunisia and Suzhou plants. The
results of these measures will begin to show mainly during 2016. 

Efore will publish its financial statement report 2015 on February 12, 2016.

EFORE PLC

Heikki Viika
President and CEO

For further information please contact Heikki Viika, President and CEO, tel.
+358 9 4784 6312. 

DISTRIBUTION

Nasdaq Helsinki Oy
Principal media


Efore Group

Efore Group is an international company which develops and produces demanding
power products. Efore's head office is based in Finland and its production
units are located in China and Tunisia. Sales and marketing operations are
located in Europe, United States and China. In the fiscal year ending in
December 2014, consolidated net sales totalled EUR 85,3 million and the Group's
personnel averaged 914. The company's share is quoted on the Nasdaq OMX
Helsinki Ltd. www.efore.com