Pressrelease Year-end report (1 Jan-31 Dec 2007)
Continued improved results for Doro – Core business profitable and strong growth in Care Electronic
During the fourth quarter of 2007 Doro’s sales amounted to SEK 114 million (SEK 121 m), which adjusted for divestments are in line with last year. During the fourth quarter Doro increased volumes by 9 percent. Profit after tax amounted to SEK 6 million (SEK -62 m). Care Electronics continued to have strong sales growth during the quarter.
For the full year sales amounted to SEK 346 million (SEK 433 m), which adjusted for divestments represents a decrease by 5 percent. Doro increased volumes by 6 percent during the year. Operational profit was SEK 9 million (SEK -77 m) and profit after tax amounted to SEK 8 million (SEK -95 m). During the year Care Electronics had strong growth and also Business Electronics increased sales. Home Electronics decreased sales due to price pressure in the market but became profitable after restructuring. The cash flow improved considerably during the latter half of the year.
“From an operational and financial point of view Doro is now a company in better balance. During 2007 we divested loss-making subsidiaries in Australia and Poland, and streamlined the organisation. Thus, the restructuring program has resulted in a profit for 2007 as compared with the losses made during the last couples of years”, says Jérôme Arnaud, CEO of Doro, and continues:
“Care Electronics is expected to have a positive impact on future sales growth and margins of Doro. We see a strong demand especially among the aging population for simplified telephony and electronic products. The launch of our GSM phone for elderly during the fourth quarter has confirmed this and resulted in encouraging sales growth. We will make several product launches within this area during 2008. In addition, we will recruit new distributors and expand geographically. With the efforts being made in Care Electronics Doro will become a company, which is well balanced between Home telephony, Business telephony and Care telephony”.
The year end report is available at www.doro.com
For further information, please contact:
CEO Jérôme Arnaud, +46 46 280 50 05
CFO Stefan Sjölin +46 46 280 50 62