Annual Accounts, 1999

*Global market volume for warehouse trucks grew by 7% *Orders received SEK 10,050 m. (SEK 8,924 m.), up 13% *Income after net financial items +24 %, SEK 675 m. (SEK 544 m.) *Earnings per share rose 39% to SEK 15.40 (SEK 11.10) *Agreement to acquire remaining 55% of CESAB Financial summary October - December Full-year SEK m. 3 months 1999 1998 1999 1998 Orders received 2,684 2,330 10,050 8,924 Net sales 2,774 2,635 9,759 8,838 EBITDA 1) 347 298 1,077 956 Operating income 239 190 660 576 Income after net financial 242 172 675 544 items 1) EBITDA = Earnings Before Interest, Tax, Depreciation and Amortization of intangible assets Market development Demand for warehouse trucks continued to develop positively in 1999. With an estimated growth rate of 7%, the overall global market for warehouse trucks amounts to around 220,000 units. In the counterbalance truck product area, growth is lower. The market for electric counterbalance trucks is improving more than for combustion-powered trucks. In Western Europe, the market for warehouse trucks continued to grow. The small truck segment ("walkies") is reporting the strongest growth. Demand was also strong in North America, where growth is concentrated in the walkie segment. Markets in South America and some parts of Asia and Eastern Europe are reporting growth, while other parts of Asia and Eastern Europe declined slightly. Total volume for warehouse trucks outside Western Europe and North America remained largely unchanged compared with the previous year. During the year, BT's global market share for warehouse trucks is estimated to have increased by around 2 percentage points to approximately 22 percent, primarily owing to higher market shares in North America. ------------------------------------------------------------ Please visit http://www.bit.se for further information The following files are available for download: http://www.bit.se/bitonline/2000/02/14/20000214BIT00050/bit0002.pdf http://www.bit.se/bitonline/2000/02/14/20000214BIT00050/bit0001.doc

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