STOCK EXCHANGE RELEASE October 18, 2013 at 9.15 A.M.
WULFF STARTS CO-OPERATIONAL NEGOTIATIONS FOR COST SAVINGS
Wulff continues to improve the efficiency of its operations along the continuous renewal in order to increase the Group’s profitability and to reach its long-term financial targets. Wulff aims to gain savings of EUR 1.0 million which are estimated to impact the result mainly in 2014.
Wulff starts co-operational negotiations with its personnel. Wulff believes to achieve its cost saving goals with the help of the negotiations. Wulff estimates the cost saving actions to impact the Group’s result positively partly in the last quarter of 2013 and mainly in 2014.
Wulff starts the co-operational negotiations in part of the Group’s Finnish companies. With the aim to adjust Wulff’s costs with revenues, the negotiations handle the possible personnel-related actions’ reasons, consequences and alternative solutions.
Group CEO Heikki Vienola: “It is important to adjust our operations along the changes in the financial situation as quickly as possible. In order to ensure our competitiveness and ability to be the pioneer in our industry also in the future, we need to focus on issues which are most valuable to our customers. Our personnel is capable and committed. I believe that together with the personnel we will find the best solutions to change our operations to adjust with the current financial situation.”
In its stock exchange release on September 24, 2013 Wulff Group Plc informed that based on the Group management’s forecast the operating result will be negative in 2013. Typically in the industry, the annual profit is made in the last quarter of the year. Also in 2013 the last quarter will be the strongest. In 2012, the Group’s net sales totalled EUR 90 million and operating profit reached EUR 1.1 million.
Wulff will publish its interim report for January-September 2013 on Tuesday November 5, 2013.
In Vantaa on October 18, 2013.
WULFF GROUP PLC
CEO Heikki Vienola
tel. +358 9 5259 0050 or mobile: +358 50 65 110
NASDAQ OMX Helsinki Oy
Wulff Group Plc is an increasingly international listed company as well as the most significant Nordic player in office supplies and an industry pioneer. Wulff sells and markets office supplies, facility management products, business and promotional gifts, IT supplies as well as ergonomics and first aid products. Customers can also acquire international fair services from Wulff. The newest products are LED lights and lighting solutions. In addition to Finland, Wulff operates in Sweden, Norway, Denmark and Estonia. The customers are attended to personally by approx. 350 business-to-business sales professionals and also at Wulff’s stores in Helsinki, Turku and Lahti. In addition to versatile customer specific services, the Group serves its customers online with a non-exclusive webstore Wulffinkulma.fi.