Net sales increased for Efore by 27% in 3Q

The increase compared with the previous quarter was EUR 3.3 million. Net sales by customer group were as follows: ICT 78,2% (61.4%) and industrial electronics 21.8% (38.6%). Geographically net sales were as follows: EMEA EUR 8.3 million (EUR 6.4 million), APAC EUR 10.2 million (EUR 7.7 million) and the Americas EUR 0.6 million (EUR 0.9 million). The result of operating activities was EUR 0.2 million (EUR 0.0 million). Key customer demand increased but the availability of components as well as their higher price level limited the deliveries and slowed the improvement of profitability during the third quarter. Business Development Investment on product development during the period under review was EUR 5.7 million (EUR 4.8 million) representing 11.6 % (9.7 %) of net sales. Focal point of Efore business has been moved to Asia. The company's plan is to maintain the level of investment in product development. Outlook According to the estimations received from the companies in the business, the overall telecommunications market is recovering and especially investments in new broadband networks have been started. Service business is estimated to grow faster than investments in networks. Resulting from the market recovery the company estimates that both net sales and result of operating activities of the current fiscal year will show an improvement compared to the previous fiscal year.