Revised profit forecast for the financial year 2011

Revised profit forecast for the financial year 2011

New Wave Group's performance so far in the fourth quarter differs from what has
been previously projected. The previous forecast, published in the interim
report for the third quarter of 2011, was as follows: “For 2011 we expect a
higher sales turnover and a somewhat better result than the 2010 outcome.
Incoming deliveries will be moved forward since the Chinese New Year occurs
already in January 2012, which means that our stock levels will be higher than
normal at the end of the financial year.”

”The Group’s turnover and result has been affected negatively by a weaker
development than expected in its subsidiary, Orrefors Kosta Boda AB, during the
fall. The Group has now published a forcible package of measures for this
company which includes a workforce reduction of approximately 115 employees.
However, the greatest impact on the result is the warm winter so far which,
among other things, has affected the order stock and sales of underwear, winter
clothing and warmer types of working cloths negatively during the fourth
quarter. The Group believes that part of the lower turnover can be recovered
during the first quarter of the financial year 2012”, says Torsten Jansson, CEO.

In view of these circumstances, the forecast for 2011 is revised in the way that
the turnover and result for 2011 will be somewhat below the outcome in 2010.
Measured in local currencies, we foresee a higher turnover for the financial
year 2011 compared to the outcome in 2010.

Gothenburg 16 December 2011

New Wave Group AB (publ)
Torsten Jansson
CEO

For more information, please contact:

Torsten Jansson         CEO                           Phone: +46 (0)31-712 89 01
Rolf Karp                   dCEO                          Phone: +46 (0)31-712
89 05
Lars Jönsson             CFO                            Phone: +46 (0)31-712 89
12

 

New Wave Group in Brief
New Wave Group is a growth company that designs, acquires and develops brands in
the corporate promotion, gifts and home furnishings sectors. The Group will
achieve synergies by coordinating design, purchasing, marketing, warehousing and
distribution of its product range. To ensure good risk diversification, the
Group will market its products in the corporate promo market and the retail
market.