Aspiro's consolidation program complete

Aspiro's consolidation program complete Aspiro has now completed its rationalization of the organization and costs. Beginning March 2001, the company's monthly result will improve by SEK 6 million from SEK -17 million to SEK -11 million. The result will then gradually improve further until the company breaks even. This it expects to do during the fourth quarter 2001. Aspiro has completed its planned consolidation program, which was presented at the time of the company's half-yearly report, and now employs 125 people. Aspiro has also closed its offices in Oslo, Gothenburg and Boston. "Aspiro has completed its phase of consolidation and is now focusing on the company's core business: to produce, sell and supply mobile internet services," says Lena Wittbjer, Aspiro's CEO. "The new, slimmer organization is well prepared for this work." During the coming year Aspiro aims to achieve sales in the region of SEK 500 million, launch 200 new product ideas, including 100 complete product concepts, and deliver 190 products to customers. By the end of 2001 Aspiro expects to have 60 customers. This means Aspiro calculates that it will be in a position to secure a five-percent share of the world market for mobile internet services by the end of 2003. To achieve this requires a turnover in sales of SEK 1 billion. The calculation is based on estimates from Ericsson, Merrill Lynch and others who believe that there will be 500 million mobile internet users by 2003. Aspiro calculates that if every user buys on average two services, the value of the world market for mobile internet will amount to USD 25 billion. Aspiro's estimations are based on that only 10 percent of these revenues will go to service providers such as Aspiro. In addition, by the end of March 2001, Aspiro's new, slimmer organization and completed deliveries will improve the company's monthly result by SEK 6 million from the current SEK -17 million, excluding restructuring costs, to SEK -11 million. The result will gradually improve further until the company breaks even. This it expects to do during the fourth quarter 2001 Aspiro's total capital requirements until the end of the fourth quarter 2001 amount to SEK 130 million. As Aspiro received an infusion of capital totaling SEK 200 million from stockholders in September, the company's capital requirements have been firmly secured. For further information, please contact: Lena Wittbjer, CEO, Aspiro AB, tel: +46 (0)40 630 0300 About Aspiro Aspiro provides mobile Internet services promoting life in motion using cutting-edge knowledge and technologies. Aspiro offers operators, content providers and mobile organizations a wide range of solutions, from pre- packaged portal services to industry-specific solutions. Founded in 1998, Aspiro is today an important player in the global mobile Internet market. 125 people currently work for the company, which also has offices in Sweden, Luxembourg and USA. Aspiro's business concept, organization and operations are based on many years of experience gained in the mobile telecommunications and IT industries. For further information about Aspiro, please visit ------------------------------------------------------------ This information was brought to you by BIT The following files are available for download: