Trio to implement action programme
Trio to implement action programme In order to adapt the company's operations to the prevailing market climate, the Board of Trio has decided to implement an action programme with a view to cutting costs. In addition, the Board will be evaluating various options designed to consolidate and develop Trio's position, mainly in the mobile operator market. As a result of weak sales in the Trio PresentOffice and Objecta TeleVoice business areas, the company's full-year forecast for 2002 of continuing organic growth and a break- even result before goodwill amortisation will not be attained. System sales to mobile operators in the Trio Mobile Office business area are expected to increase in 2002 and to continue to grow in 2003. The measures to be implemented by Trio primarily involve the Trio PresentOffice and Objecta TeleVoice business areas. It is mainly the Swedish market for telephony systems based on traditional company switches that has continued to decline during the third quarter. This means that restructuring costs of approximately SEK 8 million will be charged to the Q3 result for 2002. The action programme is expected to reduce costs in the Trio PresentOffice and Objecta TeleVoice business areas by a total of SEK 25 million on an annual basis. The programme will take effect gradually from the fourth quarter this year, reaching full impact from 1 January 2003. The action programme will entail reducing staff numbers at the Group by around 20 employees to a total of approximately 90 employees. Trio consolidated its position in the mobile operator market during the first half of 2002, with Trio Mobile Office accounting for half of Trio's net sales and order inflow. This makes mobile operators Trio's most important customer group. In order to secure and develop Trio's position, primarily in the mobile operator market, the company will be reviewing its capital status and evaluating various options designed to strengthen it. For further information, please contact: Sverker Hannervall, President and CEO, Trio, tel.: +46 8 457 30 05 About Trio AB Trio is a telecommunications company that develops call-handling systems for companies, enabling them to improve both internal efficiency and customer service levels. Almost 2,000 systems have been delivered in the Nordic region, mainly to large and medium-sized companies. Trio's customers include five of the leading Nordic mobile operators. Trio operates in Sweden, Finland, Norway and Denmark and develops three product families. Trio PresentOffice offers integrated telephony and advanced call and message handling. Trio Mobile Office enables a complete transition from fixed to mobile telephony and is subscribed to as a service from mobile operators. Objecta TeleVoice offers solutions for customer support, mainly call and contact centre solutions, as well as automatic services such as voice control and interactive voice response. Trio's shares are listed on the O list of the Stockholm Stock Exchange. For more information, please visit our web site at www.trio.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/09/23/20020923BIT00310/wkr0001.doc http://www.waymaker.net/bitonline/2002/09/23/20020923BIT00310/wkr0002.pdf