Report January - May 2005

- The sales increase 2005 is expected to be lower than previously stated, which causes delay in reaching profitability goal.
- The Group's net sales amounted to SEK 515 m (564) during the period.
- Operating profit was SEK -1 m (40) and profit before tax was SEK -1 m (36).
- During the past 12-month period the Group's net sales amounted to SEK 1 262 m (1 217) and profit before tax to SEK 34 m (19).

January - May 2005 in brief
The Group's turnover was SEK 515 m (564) for the period, a decrease by 9 per cent compared to the corresponding period in 2004. Practically all the decrease can be assigned to a larger customer project that was invoiced in April and May of 2004.
 
Operating profit amounted to SEK -1 m (40). Profit before tax was SEK -1 m (36).
 
During the past 12-month period the Group's net sales amounted to SEK 1 262 m (1 217). Operating profit amounted to SEK 43 m (27) and profit before tax was SEK 34 m (19).
 
The period's net investments in fixed assets amounted to SEK 14 m (20), moving twelve months to SEK 37 m (46).
 
As a consequence of the market playing a waiting game, exceptional actions have been taken to adapt the Group's cost structure.
 
Outlook for the remainder of 2005
In the year end report the sales growth in 2005 was estimated to be at least 10 per cent. The objective was to reach an annual profit margin rate of 10 per cent during the second half of 2005.
 
The sales development was lower than expected during the first five months. Therefore it is judged to be difficult to reach a sales growth of 10 per cent this year.
 
As a consequence hereof, it will also be difficult to reach an annual profit margin rate of 10 per cent during the second half of 2005. The long term objective to have a sustainable profit margin of 10 percent is still in place. A more precise forecast for the full year will, as usual, be published in connection with the third quarter report.
 
The full report incl tables can be downloaded from the enclosed link.


Report January - May 2005


Stockholm 14.06.2005

Anders Remius
Managing Director