Solteq’s second quarter will be weaker than last year, company will begin co-operation negotiations

June 21st, 2006, Solteq Group’s turnover for the second quarter this year will be less than expected. The parent company’s new sales have been slower than anticipated and few significant projects have been postponed. This will also affect the result for the second quarter, which will be less than last year.

The Group’s growth for the first half of the year will remain at approximately 10 per cent and the result will be at last year’s level at the most. Estimating the whole year is difficult as turnover and result for the second half of the year will have more emphasis and there are also individual sales projects, timing of which will have a significant impact. At the moment the more than 20 per cent growth and clear improvement in the result indicated earlier entail more uncertainties than usual.

In order to adapt the costs to the present demand and to secure the expected result, the company has begun co-operation negotiations with its employees. Through lay-offs, part-time employments or terminating employments, these negotiations aim at compensating smaller income due to the postponed sales this year as well as ensuring cost effectiveness and improving the company’s knowledge structure in the future. This is estimated to mean lay-offs during this year and terminating 20 employments at the most.

The beginning of the year for Artekus Oy acquired in January has gone well. Co-operation procedures do not involve Artekus.

Solteq will publish its interim financial statements 1-6/2006 on Thursday 10.8.2006.


SOLTEQ PLC

Jorma Hänninen
Managing Director

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Jorma Hänninen

Managing Director

Solteq Plc

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