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Revised outlook for 2016

Sweden, Lund, 2016-07-06 08:30 CEST (GLOBE NEWSWIRE) -- Press release

Lund, July 6, 2016

 

Revised outlook for 2016

According to preliminary results, Doro’s profits for the first half of 2016 will be lower than expected and therefore the Company revises its full year outlook. CEO of Doro Care Ulf Lindsten is leaving the Company.

While the earlier outlook stated that 2016 sales and profit for the group are expected to increase, the Company now expects profit for the group to be somewhat below 2015 while sales can still be expected to be higher than previous year.

Sales in Sweden in Doro Care continue to be held back due to an appeal of a new framework agreement with the procurement office of the Swedish municipalities (SKL). This issue of temporary nature has not yet been solved in the second quarter, and there is, as in the first quarter, a significant negative impact on EBIT of the group. Doro Care’s operations have been expanded on the basis of continued growth resulting in profitability below forecasts for Doro Care. The company has agreed with Ulf Lindsten, the CEO of Doro Care, that he will leave the company during the third quarter.

 

For more information, please contact:

President and CEO Jérôme Arnaud, +46 (0)46 280 50 05

CFO Magnus Eriksson, +46 (0)46 280 50 06

 

About Doro

Doro develops telecom products and services for Seniors to lead full and rich lives: to do things they want to do more easily as well as the things they thought they might never do. The global market-leader in senior mobile phone, Doro offers easy-to-use mobile phones and smartphones, mobile applications, fixed line telephony with loud and clear sound. Within Doro Group, Doro Care offers social care and telecare solutions for elder and disabled persons for independent and safe living in their own homes. Doro AB is a Swedish public company and its shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic List, Small Companies. Net sales of SEK 1,838 million (EUR 200 million) were reported for 2015. www.doro.com

This information is information that Doro AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 08:30 CET on 6 July 2016.

 

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HEAD OFFICE

Doro AB
Magistratsvägen 10
226 43 Lund
Sweden
Phone 0046 46 280 50 00

Corporate identification number
556161-9429

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