EAB Group Plc continues measures to increase profitability and starts planning a new efficiency program

Wed, Aug 28, 2019 08:30 CET

EAB Group Plc, Inside Information, Stock Exchange Release, 28 August 2019, 9:30 a.m. (EET)

EAB Group Plc continues measures to increase profitability and starts planning a new efficiency program

EAB Group Plc (EAB, Company) continues measures to increase profitability and starts planning a new efficiency program. The planned efficiency program has a goal of achieving savings of 1 million euros in personnel and other costs.

EAB has during the last years invested into internal efficiency in the form of new it-systems and new ways to organise work. Starting from the summer 2019 the Company has in full use a new operative it-system instead of several old systems. In addition, the Company has during the years 2018-2019 implemented a new agile method of performing all its’ development and project activities. The purpose of the efficiency plan is to help the Company to achieve its profitability and other strategic goals by enhancing the client centric and scalability of the Company’s activities.

Prior to the planned efficiency program, the Company has already made efficiency measures and achieved a reduction in personnel of approximately 10%. The new efficiency program involves re-organising tasks in the whole organisation to ensure Company’s profitability in the future.

If the plan is executed, it involves changes to the organisation and tasks of the personnel, therefore the plan is discussed with the personnel in co-operation negotiations. The plan involves the entire staff of the Company and all its subsidiaries. According to a preliminary estimate the plan would, if executed, involve the lay-off of at maximum 9 persons, if their tasks are not continued.

EAB GROUP PLC

Board of Directors

Further information:

EAB Group Plc

Daniel Pasternack, CEO

+358 50 569 3416

daniel.pasternack@eabgroup.fi

Kari Juurakko, Chairman of the Board

+358 50 582 7411

kari.juurakko@eabgroup.fi

EAB Group offers versatile and high-quality saving, investment and asset management services for private investors, institutions and professional investors. The Group's parent company EAB Group Plc’s share is listed on the Nasdaq Helsinki stock exchange. EAB Group uses the name Elite Alfred Berg as its marketing name. The Group companies include EAB Asset Management Ltd offering asset management activities, and EAB Fund Management Ltd acting as a fund company and authorised alternative investment fund manager. The Groups’ customer base consists of individuals and corporations that are served nationwide in 13 different locations. The Group employs more than 100 investment professionals, and over 20 tied agents provide its services. On behalf of its clients, the Group manages assets of over EUR 3 billion in total. Check out EAB Group’s services at www.eabgroup.fi.

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Nasdaq Helsinki Oy

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