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Press Release september 28, 2017

Enfo’s transformation program proceeds

Enfo Group has revised its business structure. The purpose of the change is to speed up the implementation of the Group strategy and to improve customer focus in operations.

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In August, the Group launched a program to simplify its operations including possible personnel reductions affecting approximately 70 positions in Finland and Sweden totally. Enfo has now finalized the labor negotiations with the personnel. As a result of the negotiations Enfo’s headcount will decrease totally with 36, of which 16 in Finland and 20 in Sweden. The decreases concern mainly managerial and administrative positions. At the same time, totally 17 managers will move to specialist roles (Finland 5, Sweden 12). In addition, 9 persons are temporarily laid off.

“The transformation program enables us to concentrate more resources to further development of our IT services. We support our clients in digitalizing business processes by providing a modern service portfolio, covering our clients’ long-term business needs. This includes planning, maintenance and integration of complex systems and processes as well as introducing agile solutions in different projects,” says Enfo’s CEO Arto Herranen.

As a result of the changes, Enfo will recognize EUR 2.5 million of non-recurring costs in Q3 of 2017, which will make the Q3 result clearly negative. At the same time, the operating profit of Q4/2017 is expected to be above the previous year.

For additional information, please contact:

Arto Herranen, CEO, Enfo Oyj, +358 44 719 3000

Lars Aabol, Managing Director, Enfo Sweden AB, +46 73 6840 380

e-mail: firstname.lastname@enfogroup.com

Enfo – Simpler, smoother and smarter business in the Digital Dimension

Enfo is a Nordic IT service company offering business solutions, financial processes and managed IT services. Our passion is helping customers in the digital dimension by creating innovative digital solutions that develop, innovate and improve our customers’ business. In 2016, Enfo’s turnover was EUR 128 million. Enfo employs approximately 1,000 niched experts