ENF Enfis Group

 

TIDMENF 
 
RNS Number : 3162D 
Enfis Group PLC 
30 November 2009 
 

Enfis Group Plc 
("Enfis" or the "Company") 
Trading Update, Board Change and Strategic Review Announcement 
Enfis is a leader in the design, development and manufacture of intelligent high 
power light emitting diode (LED) arrays and smart light engines and produces 
products which address the burgeoning markets of solid state lighting (SSL). 
The Company today announces an update on its trading, a change in Chairman and a 
strategic review of the business moving forward. 
 
Trading 
The Company reported in its interim results in August 2009 that it had 
experienced lower than expected revenues against the background of an uncertain 
economic outlook for end customers. Enfis markets are highly dependent on 
investment in product innovation and capital equipment expenditure by its 
customers and a number of projects have been subject to deferral as a result of 
cost cutting in the current economic climate. 
Overall there currently appears to be more confidence amongst Enfis customers in 
Europe and China than in the US market. Certain customers in Europe and China 
are now gaining sufficient confidence in improving market conditions to launch 
new products into medical lighting and industrial sectors for sale in 2010. This 
should result in increased sales in these sectors in 2010. Enfis is undertaking 
a reallocation of resources to reflect these market conditions with increased 
investment in its Shanghai operation. 
As a result of the above, the Company now expects revenues for 2009 to be c. 
GBP700,000 and its year end cash position to be in excess of GBP1m. The Company 
has minimal borrowings. Enfis has taken the appropriate actions to reduce its 
cash burn through reduced employee numbers and overheads and further steps are 
being taken before the end of 2009 to reduce the cash burn further. 
 
 
Board Change 
In addition, the Company announces that Shaun Oxenham has resigned from the 
Company as Chairman to take up a new role. He had previously served as CEO. The 
Board wishes to thank Shaun for all his hard work and wishes him well for the 
future. In the interim, Drew Nelson, currently one of the non executives has 
agreed to become interim Non Executive Chairman until such time as an 
appropriate replacement can be found. 
 
 
Strategic Review 
The market for high brightness LEDs was $5.1 billion in 2008. The lighting 
sector (including architectural, retail display and entertainment lighting) 
represented 9% of the market and was the fastest growing sector in 2008 with 
year on year growth of 39%*. 
Enfis has developed some unique SSL technology which has been deployed in a wide 
range of applications, including being used to power the spectacular LED display 
on the Yas Hotel, Abu Dhabi. The hotel and its lighting display provided a 
stunning backdrop to the Abu Dhabi Grand Prix.  The programmable display was 
built from 5,300 "smart" Enfis LED arrays supported on a grid shell that covers 
the hotel roof, representing one of the largest LED displays in the world. In 
order to rapidly capitalise on this and other successful deployments, the Board 
has decided to undertake a strategic review of the business, and expects to 
complete and announce the results of this review in late January 2010. The 
review will include key decisions on which areas of the $5.1 billion high 
brightness LED sector the Company should address as key priorities. 
 
Ends 
* Strategies Unlimited 2009 
 
+---------------------------------+----------------------+ 
| For further information, call:  |                      | 
+---------------------------------+----------------------+ 
| Enquiries                       |                      | 
+---------------------------------+----------------------+ 
| Enfis Group plc (www.enfis.com) | Tel: +44 (0) 1792    | 
|                                 | 485660               | 
| Ceri Jones, Chief Executive     |                      | 
| Giles Davies, Chief Financial   |                      | 
| Officer                         |                      | 
|                                 |                      | 
+---------------------------------+----------------------+ 
| Noble & Company Limited         | Tel: +44 (0) 20 7763 | 
| John Llewellyn-Lloyd / Sam      | 2200                 | 
| Reynolds                        |                      | 
+---------------------------------+----------------------+ 
About Enfis 
The Enfis Group Plc (AIM: ENF) designs, manufactures and markets intelligent, 
high-power, 'tunable' LED lighting with a focus on providing cutting-edge 
solutions that can be easily integrated into luminaires, fixtures and custom 
projects. The Company's expertise covers semiconductor technology, packaging, 
thermal management, optics, electronic design, software and volume 
manufacturing. 
Enfis 'smart' LED array technology offers luminaire and fixture manufacturers 
unsurpassed light output quality. Their ultra-bright, multi-watt, 
multi-wavelength 'smart' LEDs are designed so that each wavelength can be 
individually controlled and monitored. Each Enfis 'smart' LED array has active 
colour temperature and heat-sensing components that control, calibrate and 
regulate the light output of each wavelength on the array for the lifetime of 
the component. 
More information about the company's LED products and solid-state lighting 
technologies can be found at www.enfis.com. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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