© blotty-dreamstime.com Electronics Production | August 20, 2013
Industrial up - telecom down for Efore
After the acquisition of Roal Electronics, Efore is advancing in industrial. But even with the advancements made in industrial, the company saw their net sales decline to EUR 16.7 million (EUR 21.2 Q312).
Net sales for the third quarter totaled EUR 16.7 million (EUR 21.2 million). Net sales by customer group were as follows: Telecommunication 56.4 % (81.3 %) and industrial 43.6 % (18.7 %). Geographically Efore's deliveries were to the following areas: EMEA EUR 8.7 million (EUR 12.6 million), APAC EUR 4.3 million (EUR 6.0 million), Finland EUR 2.3 million (EUR 2.4 million) and the Americas EUR 1.5 million (EUR 0.2 million) which totaled EUR 16.7 million (EUR 21.2 million). Final geographical distribution of Efore's products deviates from the before mentioned as Efore's customers distribute further the products from the logistics centres to other markets. The results from operating activities amounted to EUR -1.7 million (EUR 0.3 million). Results from operating activities include one-time items of EUR 0.8 million related to acquisition. Vesa Vähämöttönen, Efore's President and CEO commented: "We took one of the most important steps in Efore history by acquiring the entire share capital of Roal Electronics S.p.A. (Roal). Roal acquisition is a key part of Efore's strategy to grow industrial sector and balance its businesses. Last spring started Efore's profitability and efficiency improvement is progressing as planned during the current fiscal year. As a result of the implemented actions Efore (without Roal) estimates to reach a positive result with at least EUR 15 million quarterly net sales during the last quarter of the current calendar year. Expanding in industrial sector and materializing synergy benefits from the acquisition will play a substantial role also in improving competitiveness of telecom sector." Third quarter in brief (May 1, 2012 - July 31, 2012)
- Net sales totaled EUR 16.7 million (EUR 21.2 million)
- Results from operating activities amounted to EUR -1.7 million (EUR 0.3 million)
- Results from operating activities without one-time items were EUR -0.9 million (EUR 0.0 million)
- Result before taxes was EUR -1.7 million (EUR 0.2 million)
- Result for the period was EUR -1.6 million (EUR 0.2 million)
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