Efore - Company Announcement

EFORE PLC LOWERS ITS FINANCIAL ESTIMATE FOR 2015

Espoo, Finland, 2015-10-01 08:30 CEST (GLOBE NEWSWIRE) -- EFORE PLC    Stock
Exchange Release   October 1, 2015  9.30  a.m. 



Efore Plc lowers its financial estimate for 2015 due to lower than forecasted
demand in mainly telecommunication sector during the latter part of the year. 

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 at
break-even level or mildly positive. 


Previous financial estimate was:
The Company estimates its net sales of financial year 2015 to be EUR 86-96
million and results from operating activities without one-time items to be EUR
2-5 million. 

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 interim report for the 3rd quarter on October 21, 2015.

EFORE PLC

Heikki Viika
President and CEO

For further information please contact Heikki Viika, President and CEO, tel.
+358 9 4784 6312 at 10-11 a.m. on October 1, 2015. 

DISTRIBUTION

Nasdaq OMX 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