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Electronics Production | August 06, 2007

Evox Rifa increased sales but reported loss

Evox Rifa reported its financial results for the first half, 1 January - 30 June. Net sales of the first half of 2007 were EUR 46.5 million (EUR 43.9 million in 2006). Net sales increased by 5.9 % compared to the previous year but net income landed in the red.
Operating profit was EUR 0.1 million (EUR 0.2 million). Operating profit includes EUR 1.5 million of costs related to the public tender offer made by KEMET Electronics Corporation (“KEMET")for Evox Rifa Group Oyj's shares and to the organization restructuring that followed (restructuring costs
in the corresponding period in 2006 were EUR 0.6 million and profits of the sale of real estate were EUR 1.2 million). Loss before taxes was EUR 0.9 million (loss EUR 1.0 million).

Order backlog on 30 June 2007 was EUR 20 million (EUR 23.5 million).

Net sales of the Group totalled EUR 46.5 million (EUR 43.9 million in 2006). In the first half of 2007, demand remained at a satisfactory level, but price competition was challenging in all market areas.
Profit Operating profit of the Group was EUR 0.1 million (EUR 0.2 million) and loss before taxes was EUR 0.9 million (loss EUR 1.0 million). The operating profit was reduced by a EUR 0.4 million customer reclamation payment. The operating profit also includes EUR 1.5 million of costs related to the public tender offer made by KEMET for Evox Rifa Group Oyj's shares and to the organization
restructuring that followed. In the corresponding period last year, the costs related to restructuring were EUR 0.6 million and profits of the sale of real estate were EUR 1.2 million.

Loss per share were EUR –0.009 (EUR –0.008) and shareholders' equity per share was EUR 0.025 (EUR 0.032). The order backlog of the Group was EUR 20 million at the end of June 2007 (EUR 23.5 million at the end of the corresponding period in 2006).

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