Espoo, Finland, 2015-11-04 07:00 CET (GLOBE NEWSWIRE) -- EFORE PLC Stock Exchange Release November 4, 2015 at 8.00
Efore’s Capital Markets Day for investors, analysts and media representatives is held today in Helsinki. The programme includes CEO’s review of Efore's updated strategy. Furthermore, the Group's executive management will give presentations on power supply markets and technology as well as on financial status and targets of the company.
Efore's strategic direction remains the same, but there are some adjustments in priorities of the strategy and its implementation. According to the new strategy the company is focusing to be “The Trusted Power Partner” based on reliability of its products and operations. The cornerstones of the strategy are: Efficient cost base, Empower competent employees, Evolve game changing technologies and Expand selected markets.
The new strategic priorities are focused on improving the cost efficiency of manufacturing and streamlining other current operations, as well as to establish a solution driven operating model. Ensuring that the competencies of our personnel remain at high level will enable us to maintain long term competitiveness. The focus in technology development is on developing products in the demanding high reliability/high dependability end of market, and ensuring the developed base technology and platforms can be utilized across a broad customer base. Furthermore, the company is working on establishing new channels to market and new customer acquisition in order to increase volume. Efore is also developing service based business model to increase its value added.
Efore's long term financial targets will remain unchanged and are as follows:
Efore Group's long term target is to reach 10% EBIT level and an average annual net sales growth of 5-10%. Target is to grow especially in industrial sector. Market driven product platforms and efficient R&D investment utilization are key factors to support group's target to improve profitability.
Efore does not consider the long term targets as market guidance for any given year. The Group will issue separate financial estimate.
All presentation material are available on Efore’s website (www.efore.com) today.
EFORE PLC
Heikki Viika
President and CEO
For further information please contact Heikki Viika, President and CEO, tel. +358 9 4784 6312.
DISTRIBUTION
Nasdaq OMX Helsinki Oy
Principal media
Efore Group
Efore Group is an international company which develops and produces demanding power products. Efore's head office is based in Finland and its production units are located in China and Tunisia. Sales and marketing operations are located in Europe, United States and China. In the fiscal year ending in December 2014, consolidated net sales totalled EUR 85,3 million and the Group's personnel averaged 914. The company's share is quoted on the Nasdaq OMX Helsinki Ltd. www.efore.com