STOCKHOLM, Sweden, Feb. 17, 2005 (PRIMEZONE) -- As the first company in Sweden, Doro can today show how to use the new corporate governance code in an Annual Report. At a capital markets meeting in Stockholm, Doro is presenting its new Annual Report and explaining how its strategic work is progressing. The company is also promoting its investments in IP telephony and a wider range of accessories for portable electronic products.
"We have carefully gone through the rules and guiding principles in the code of corporate governance and have chosen to openly report in our Annual Report what we are following. We have made comments in cases where we have not followed the code. We have high aims in our communication to shareholders and the capital markets," says Rune Torbjornsen, CEO of Doro.
In the Annual Report Rune Torbjornsen looks forward to 2005. "I expect continued growth in 2005 as new products are launched. Alongside organic growth we are investigating the possibility of new product areas and different forms of partnership. Another important objective is to improve profitability compared to the profits for 2004."
He continues: "Our core skills are sourcing products, quality assurance, distribution and design. These skills allow us to work with any consumer products we want. Our mindset is to focus more on customer and market orientation." In conjunction with the AGM on 15 March, an assessment will be made of market conditions in Q1 2005. Doro will not make any forecast for full-year 2005.
Doro's Annual report for 2004, which is being distributed and is available at www.doro.com, shows that: * It is the first report a market-listed company has made regarding the "Swedish Code of Corporate Governance". * Doro estimates the market for IP telephony will expand and amount to 2-5% of the fixed telephony business in 2005, and that the European market for fixed telephony stabilised in 2004 and was worth SEK 24 billion. *Doro more than doubled its product launches and took market shares in both corded and cordless telephony.
Timetable
5 March: Record date for registration in VPC's shareholder register to participate at the AGM 9 March: Final date for applications to attend the AGM, by 3 p.m. 15 March: AGM at the Scandic Hotel Star in Lund, 5 p.m.
Future reports
Q1: 19 April, Q2: 20 July, Q3: 19 October, and the financial statement: 30 January 2006 2005 Annual Report: mid-February 2006 2005 AGM: 15 March 2006.
More information, Annual Report and pictures More information about Doro, the Annual Report and pictures from the Annual Report are available at: www.doro.com.
For further information please contact: CEO Rune Torbjornsen +46 46 280 50 60 or CFO Ingvar Karlsson +46 46 280 50 62
About Doro
Doro designs, develops and sells communication products for the home and workplace. Besides telephones for private users, companies and walkie-talkies, Doro also provides accessories such as headsets, answering machines and caller identity products. Experience and quality, focusing on user-friendliness and design have added to Doro's success on the European fixed line telephony markets. Doro also supplies broadband solutions and IP telephony through its subsidiary UpGrade Communication. In 2004 the Doro Group had sales of SEK 649 million and reported a profit of SEK 25 million. The Group's head office is in Lund, Sweden. Doro has subsidiaries in seven European countries and Australia. Doro's shares are quoted on Stockholmsborsen's O list. Read more about Doro at www.doro.com.
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