Year-end Report January-December 2011

16 FEBRUARY 2012, LUND, SWEDEN
Summary
Record-high quarterly sales and operating profit

Highlights of the fourth quarter of 2011:

  • Net sales rose to SEK 263.5 m (229.1), an increase of 15 percent
  • Operating profit (EBIT) rose to SEK 30.0 m (26.4), an increase of 13.6 percent.
  • The operating margin was 11.4 percent (11.5).
  • Profit for the period amounted to SEK 19.2 m (34.1)
  • Earnings per share after paid tax amounted to SEK 1.67 (1.65) while
  • Cash flow from current activities totalled SEK 65.9 m (103.3).
  • Order bookings amounted to SEK 194.6 m (164.9), an increase of 18.0 percent.
  • For the Care product range, order bookings increased by 25.3 percent.
  • Increased presence in North America, the UK and Ireland.

 Highlights of the 2011 full year:

  • Net sales rose to SEK 745.4 m (632.8) – an increase of 17.8 percent.
  • Operating profit (EBIT) rose to SEK 62.0 m (47.0), an increase of 31.9 percent.
  • The operating margin improved to 8.3 percent (7.4).
  • Profit for the year amounted to SEK 57.9 m (57.1).
  • Earnings per share after paid tax amounted to SEK 3.62 (2.04) while
  • Cash flow from current activities totalled SEK 104.9 m (80.4).
  • The Board of Directors proposes a dividend of SEK 1.00 per share.
  • Close to a million mobile phones sold in 2011.
  • The global distribution network was further extended with 12 new retailers/operators, strengthening Doro's presence mainly in North America, the UK and Ireland.
  • Doro’s protection of intellectual property was confirmed through three court rulings.
  • In order to strengthen Doro’s position in mHealth and Android-based applications Prylos SAS and Birdy Technology SAS were acquired. The acquisitions have had a marginal effect on Doro’s sales and earnings in 2011.


CEO Jérôme Arnaud: An active 2011 ends with a quarter of continued growth

“Doro’s growth has returned to double digits; 15 percent, in the fourth quarter. Growth is mainly being driven by the US and the Nordic region, but also by EMEA, where our new models have been successful. In total, Doro’s sales of mobile phones grew by
almost 40 percent.

All regions grew, delivering a positive EBIT margin and we can report improved EBIT for the 12th consecutive quarter. The positive trend can also be traced in our continued strong order bookings, which rose by 18 percent over the quarter.

In the fourth quarter we extended our global presence. Areas in which we made particular progress include the US, where our American partner signed a distribution agreement with pharmacy chain Walgreens. It now sells Doro phones in more than 800 stores across Florida. In the UK and Ireland, we signed an agreement with O2, which is part of Telefonica, one of the world’s largest operators. In total during the year, we signed 12 new agreements with leading operators and retailers on four continents. As a result, we increased our sales significantly, reinforcing our leading position. Our market share in Western Europe is now twice that of our closest competitor, and worldwide we sold nearly a million mobile phones in 2011.

Over the year, we launched seven new mobile phones, some of which were based on 3G technology, 60 software programs and nine fixed-line phones.

At the Mobile World Congress in Barcelona in February, we will showcase Doro Experience – an Android-based solution with applications that, together with our new smartphone, the Doro PhoneEasy® 740, can connect users with friends and relatives. Prylos, which we acquired during summer, has been instrumental in this development. This innovation enlarges our accessible market among seniors.
 
Three court rulings in Doro’s favor regarding the protection of our intellectual property rights confirm that Doro has established a certain entry barrier for competitors.

In 2011, we raised the pace of our product investment. Looking ahead into 2012, we will further increase such investments to feed our growth, to make our offering evolve to-gether with more tech savvy seniors, and to aid our expansion into the mHealth sector. Our strong financial position gives us favorable conditions to develop this strategy through organic development and/or acquisitions.”
 



 

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About Doro

Over Doro
Doro ontwikkelt telecomproducten en diensten voor senioren, zodat ze een vol en rijk leven kunnen leiden waarin ze op een eenvoudigere manier hun dagdagelijkse activiteiten kunnen doen die ze altijd al deden, maar ook de dingen waarvan ze dachten dat ze ze nooit zouden doen. Doro, wereldwijde marktleider in mobiele telefonie voor senioren, biedt eenvoudig te gebruiken mobiele telefoons en smartphones, mobiele toepassingen en vaste telefonie met luid en helder geluid. Binnen Doro Group biedt Doro Care sociale zorg en telecare-oplossingen voor ouderen en gehandicapten, zodat ook zij onafhankelijke en veilig kunnen wonen in hun eigen huis. Doro AB is een Zweeds bedrijf en haar aandelen zijn gequoteerd op Nasdaq OMX Stockholm, Nordic List, Small Companies. Een netto-omzet van SEK 1.838 miljoen (EUR 200 miljoen) werd gerapporteerd voor 2015. www.doronederland.nl

Over Eurodistribution
Als telecomdistributeur bieden wij onze klanten een kwalitatief productengamma aan en dit met een no-nonsense mentaliteit. Onze kernactiviteiten bestaan uit de invoer en distributie van telecomproducten naar dealers, groothandel, ketens en de gespecialiseerde vakhandelaar. Eurodistribution verzorgt de distributie voor Doro in de Benelux. Lees meer over Eurodistribution op www.eurodistribution.nl