Enedo has concluded the co-operation negotiations

Enedo Plc      Stock Exchange Release March 31, 2020 at 9:00 a.m.

Enedo has concluded the co-operation negotiations

Enedo has concluded the co-operation negotiations started on 23^rd March 2020. As a result of the negotiations, the temporary layoffs regarding Finland personnel are completed with maximum of 90 days layoff per employee. The planning of temporary layoffs has been done so that the delivery of products and customer work is not endangered. Group management team has also decided to temporarily reduce their salaries as part of the corrective measures. In addition to temporary layoffs in Finland, similar layoffs will start on 1^st April also in company’s Italy operations.

Enedo Finland unit had 40 employees in the end of December 2019.

ENEDO PLC

Vesa Leino                         
President and CEO              

For further information please contact Mr. Vesa Leino, CEO, tel. +358 40 759 8956.

DISTRIBUTION

Nasdaq Helsinki Ltd
Principal media

Enedo
Enedo is a European designer and producer of high-quality electronic power supplies and systems for critical equipment even in the most demanding environments. Enedo´s mission is to make electricity better – more reliable, more secure, more energy efficient – and just right to fit its purpose. Enedo´s three main product categories are Led Drivers, Power supplies and Power Systems. In 2019 the group´s revenue was EUR 43,3 million. Enedo has 394 employees and its main functions are located in Finland, Italy, Tunisia and USA. The group´s head office is in Finland and parent company Enedo Oyj is listed on Nasdaq Helsinki Oy.

www.enedopower.com

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