Lund May 29th 2018
Doro enters in to a new financing structure to support strategy execution
In order to support the overall strategy to use and develop their current position as leader in senior mobile phones in Europe and develop their service offer for Doro Care and Response across their footprint, Doro have entered into a new financing structure with SEB. The new bank facility of SEK 450m will be used to close existing financing agreements, drive the geographical expansion of telecare and create a strong foundation for the roll out of new services such as Response and SmartCare by Doro.
During the Capital Markets Day 2017-11-14 Doro announced new long term financial targets, in relation to capital structure they announced a long term target of Net debt / EBITDA ratio < 2,5x. At end of Q1 Doro had a Net debt / EBITDA ratio of 0.5, well below the sector average and the long term target.
“I am pleased to have a new financing structure in place that enables us to continue our planned execution of our long term strategic ambitions. We appreciate the approach from SEB showing that they want to be part of the transformation with a competitive and flexible solution”, says Robert Puskaric CEO Doro Group.
For more information, please contact:
Robert Puskaric, President and CEO Doro Group, +46 (0)46 280 50 05
Carl-Johan Zetterberg Boudrie, CFO, +46 (0)46 280 50 47
Doro develops telecom products and services for seniors to lead full and rich lives: to do things they want to do more easily as well as the things they thought they might never do. The global market-leader in senior mobile phone, Doro offers easy-to-use mobile phones and smartphones, mobile applications, fixed line telephony with loud and clear sound. Within Doro Group, Doro Care offers social care and telecare solutions for elder and disabled persons for independent and safe living in their own homes. Doro AB is a Swedish public company and its shares are quoted on the Nasdaq OMX Stockholm exchange, Nordic List, Small Companies. Net sales of SEK 1,924 million (EUR 200 million) were reported for 2017. www.doro.com
This information is information that Doro AB is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, of the contact person set out above, at 08:00 CET on May 29th, 2018.