Elektrobit Group Oyj - ELEKTROBIT GROUP PLC'S THIRD QUARTER
September 13, 2002
ELEKTROBIT GROUP PLC'S THIRD QUARTER
The third quarter relative profitability for the Elektrobit business segment will remain clearly under the earlier estimations and as a result, the relative profitability of the Elektrobit business segment for the whole year will be to some extent lower than in 2001. The net sales of the JOT Automation business segment in the third quarter will be lower than estimated earlier. In addition nonrecurring expenses due to personnel reductions totalling slightly under one million euros will affect the third quarter result of the JOT Automation business segment.
According to earlier estimates the Group's net sales and operating profit for the second half of 2002 is expected to exceed the pro forma level of the first half of 2002. The third quarter result will be released on October 31,2002.
The personnel negotiations concerning Elektrobit Group units were concluded on September 11, 2002. As a result of the negotiations a total of 56 persons were given a notice. Regarding the JOT Automation business segment personnel reductions in Finland concerned the Oulunsalo (14 employees), Kuopio (27 employees), Tampere (2 employees), Salo (6 employees) and Kauniainen (2 employees) units. Regarding the Elektrobit business segment personnel reductions concerned 5 employees in Oulu, Finland based Extrabit Oy, additionally 2 persons were laid off. Personnel reductions in foreign units (Germany, USA and Hungary) totalled 16 persons.
