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Elcoteq SE Elcoteq SE Stock Exchange Release July 18, 2008 at 13.00 pm (EET)
ELCOTEQ REVISES ITS FULL-YEAR ESTIMATE
Elcoteq is revising its full-year net sales and operating income forecast. The company expects the full-year net sales to be at lower level than in 2007 and the operating income to reach the level of 1% towards the end of the year.
According to the previous estimate, Elcoteq SE's full-year net sales will be on the year 2007 level and the operating income will reach the level of 2% towards the end of the year.
The main reasons for the change in the forecast are the weaker than expected development in manufacturing volumes in the Personal Communications Business Area and a temporary decrease in volumes during the third quarter due to the changing customer structure. The quarter four sales is expected to increase from quarter three and will be on the level of the second quarter of 2008.
Elcoteq's second quarter net sales totaled 904.8 million euros (968.3 million euros in April-June 2007). The second quarter operating income turned positive as expected, and totaled 0.6 million euros (-19.0). Despite the net sales being lower than in the first quarter of 2008, the operating income could be clearly improved (-9.5 million euros in January-March 2008). All Business Areas were able to reach a positive operating income in the second quarter.
Elcoteq will publish its second quarter complete interim report on July 23 at 9.00 am (EET).
ELCOTEQ SE
Jouni Hartikainen President and CEO
For more information: Jouni Hartikainen, President and CEO, +358 10 413 11 Mikko Puolakka, CFO, tel. +358 10 413 11, mobile +41 79 618 0302 Minna Aila, Director, Investor Relations and Corporate Responsibility, tel. +358 10 413 1908, mobile +358 40 513 1470
About Elcoteq: Elcoteq SE is a leading electronics manufacturing services (EMS) company in the communications technology field. Elcoteq's global service offering covers the entire lifecycle of products, from product development to after-market services. By further combining mechanics expertise into its service offering, Elcoteq's vision is to be a leading integrated electronics manufacturing services (IEMS) company. Elcoteq provides global end-to-end solutions consisting of product development services, supply chain management, NPI, manufacturing, and after-market services for the whole lifecycle of its customers' products. These products include Personal Communications products such as mobile phones and their parts, Home Communications products such as set-top boxes and electronics for flat screen TVs as well as Communications Networks products such as base-stations, tower-top amplifiers, and microwave systems.
Elcoteq operates in 15 countries on four continents and employs some 24,000 people. The Group's consolidated net sales for 2007 totaled 4.0 billion euros. Elcoteq SE is listed on the OMX Nordic Exchange Helsinki. For more information visit the Elcoteq website at www.elcoteq.com.
