BT INDUSTRIES, January-December 2004

3/21/2005 8:00 AM EST

January - December
Amounts in SEK m. 2004 2003
Orders received 13,294 12,083
Net sales 12,636 11,877
Income after net 808 736
financial items
Net income 517 471


Market development
During the year total volume in the industrial truck market reached its
highest level ever, measured in terms of orders for number of trucks. BT
estimates the global market at around 736,000 units, against
approximately 634,000 in the previous year. The highest increase in
demand was in the North American market. However, growth and rising
volumes now dominate most other markets as well.

The forklift truck market is divided into two main categories, warehouse
trucks (electric) and counterbalanced trucks (electric- and combustion-
powered). Both segments are reporting substantial gains. The global
market for warehouse trucks is estimated at 282,000 units, an increase
about 13% compared with 2003. Counterbalanced trucks have an estimated
global market volume for approximately 454,000 units, up 18%.
“The world market for trucks is at an all time high, as is our
production level. Our customers are putting even more trust in us, so
the BT Group is growing faster than the market. Obviously this is very
pleasing” says Per Zaunders, CEO of BT Industries.

BT´s primary focus is warehouse trucks. In the last several years,
however, it has also been active in counterbalanced trucks – mainly
electric-powered. Orders received during the year rose more than the
market and BT gained additional market share. In the warehouse truck
segment BT thus has strengthened its position as the world´s largest
producer in the industry.

Orders and sales
The Group´s orders received amounted to SEK 13,294 m. (12,083) an
increase of 10% compared with the previous year. Net Sales amounted to
SEK 12,636 m. (11,877), 6% higher than the previous year. Translated to
SEK, the increase was slowed by the weak dollar. At comparable exchange
rates, orders received rose by 14% and net sales by 10%.
At year-end the order backlog was 32% higher than the beginning of the
year. The significant increase is mainly due to the substantial rise in
orders received.
Of the Group´s net sales, 60% was in Europe, 34% in North America and 6%
in the rest of the world.




Handling Innovation
BT Industries is the world’s leading supplier of warehouse trucks and
related services.
We are around 8,300 employees and have a turnover of approximately SEK
13 billion. Production takes place at seven plants in four countries and
our sales network covers the entire world. Our customers are mainly
large, consumer-oriented companies with very high demands on efficient
material handling.
BT Industries is owned by Toyota Industries Corporation.

For further information, please contact CEOPer Zaunders(+46 142 860 32),
CFO Håkan Dahllöf (+46 142 863 38) or Corporate Communication Manager
AndersStålhammar
(+46 142861 21).

The complete Annual Accounts and other press material are available on
BT Industries’ home page, www.bt-industries.com.