Detection Technology Plc company announcement 14 August 2023 at 11:15 (EEST)

Detection Technology initiates change negotiations to improve its operational efficiency and profitability

Detection Technology Plc announced in its half-year report that it has taken measures to improve its operational efficiency and profitability. As a part of these measures the company initiates change negotiations in Finland in accordance with the Finnish Act on Co-operation within Undertakings.

The scope of the change negotiations includes the company's all senior salaried employees in Finland, a total of 95 employees. According to preliminary estimates, the measures that may be implemented after the change negotiations could lead to the termination of a maximum of nine (9) employments and changes in job roles.

Detection Technology will execute different efficiency measures and reorganizations at the Group sites globally. It is estimated that the measures will continue until the end of September 2023.

The company's business outlook and financial targets have remained unchanged. According to Detection Technology's view, demand will be strong in security and good in industrial applications. Demand in medical applications has, however, temporarily softened. The company expects its total net sales to decline in Q3 and to grow in H2 of 2023. Detection Technology aims to increase its sales by at least 10% per annum and to achieve an operating margin (EBITA) of 15% in the medium term.

Further information

Hannu Martola, President and CEO
+358 500 449 475, hannu.martola@deetee.com

Nordea is the company's Certified Advisor under the Nasdaq First North GM rules.

Detection Technology is a global provider of X-ray detector solutions and services for medical, security, and industrial applications. The company's solutions range from sensor components to optimized detector subsystems with ASICs, electronics, mechanics, software, and algorithms. It has sites in Finland, China, France, and the US. The company's shares are listed on Nasdaq First North Growth Market Finland under the ticker symbol DETEC.

Distribution: Nasdaq Helsinki, key media, www.deetee.com