F-Secure Oyj

Regulatory Filings • Nov 23, 2012

Disclosure 303217

F-Secure Oyj - Company Announcement

Negotiations concluded at F-Secure's subsidiary

F-Secure Corporation Stock exchange release November 23, 2012 at 15.30 EET F-Secure has concluded the negotiations at its subsidiary, F-Secure SDC (France). The negotiations started after the Company decided to stop the development of the legacy product (see the interim report on Oct 25, 2012). As a result of the negotiations, 41 people will be reduced in F-Secure SDC (France) instead of estimated 50 people. In Q4, one-off costs based on these redundancies and other related costs in F-Secure SDC (France) are approximately 2.1 million Euros. In this connection, the Company have analyzed and evaluated the remaining value of F-Secure SDC related assets, mainly customer relationships and certain technologies, and settled upon approximately 4.6 million Euros which will be booked as write-off for the Q4 2012. In the latest interim report, published on October 25, 2012, the management guidance was the following: in Q4, one-off costs based on redundancies and other related costs in F-Secure SDC (France) are estimated not to exceed 2 million Euros. In this connection, the Company will analyze and evaluate the remaining value of F-Secure SDC related assets, mainly customer relationships and certain technologies. The value of these assets as of now is approximately 5 million Euros. The management's estimation for the year is unchanged when excluding the above mentioned one-off costs; the annual revenue growth is estimated to be between 5 % and 10 % compared to 2011. The annual profitability is estimated to remain around 15 % of revenues. F-Secure Corporation Christian Fredrikson More information: Christian Fredrikson, CEO tel. +358 9 2520 0700 Taneli Virtanen, CFO tel. +358 9 2520 5655