FRIWO Revamps Vietnam Production, Confirms 2023 Targets, Eyes Profitability in 2024

• FRIWO AG is streamlining its production structures in Vietnam, with Group Intellect Power Technology from Hong Kong taking over two component production sites.
• The Hong Kong-based company will act as a contract manufacturer for FRIWO in the future.
• This move is expected to improve FRIWO's balance sheet quality and cash flow.
• The publication of the audited key figures and the annual report for 2023 has been postponed to April 25, 2024.
• FRIWO has confirmed its operating targets for 2023 and aims to return to profitability in 2024.
• FRIWO will retain two Vietnamese production sites, where the production and configuration of e-mobility power systems and power supply solutions will take place.

FRIWO

+1,77 %

-12,21 %

-18,44 %

-24,84 %

-41,62 %

-0,86 %

-8,00 %

+214,72 %

ISIN:DE0006201106WKN:620110

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