Press release
Lund, November 16, 2010
Doro's French VAT receivable now recovered
In Doro's report for the third quarter of 2010, the company stated that
increased sales volumes and the delayed recovery of VAT in France were the
principal causes behind Doro's reported negative cash flow of SEK 21.2 m.
The delay arose due to a change in procedures in connection with the Doro
Group's transition to its new streamlined organization and legal structure as
of January 1, 2010. The VAT receivable in France, which amounted to SEK 23.8 m,
has now been repaid to Doro in full. Following this, the Group's future VAT
procedures in France are expected to have been normalized.
For further information, please contact:
President and CEO Jérôme Arnaud, +46 (0)46 280 50 05,
or CFO Annette Borén, +46 (0)70 630 00 09.
This is information that Doro AB (publ) is required to publish in accordance
with the Swedish Securities Markets Act and/or the Swedish Financial Trading
Act. This information was submitted for publication on Tuesday, November 16,
2010 at 11.00 am CET.
About Doro
Doro is a Swedish company focusing on the development, marketing and sales of
telecom products specially adapted to the growing worldwide population of
seniors. With over 35 years of experience in telecommunications, and sales in
more than 30 countries on 5 continents. Doro is the world's leading brand for
easy-to-use mobile phones. Doro created the Care Electronics category and in
recent years the products have received several highly distinguished
international design awards. The company had sales of SEK 493 m in 2009. Doro's
shares are quoted on the OMX Nasdaq OMX Stockholm, Nordic list, Small
companies. Read more about Doro at www.doro.com
