Observer AB (publ) Interim Report January-September 2006

Revised strategy and strengthened growth

Operating profit amounted to SEK -332 million (131) and profit before tax was SEK -384 million (89). Profit after tax amounted to SEK -427 million (62), while earnings per share amounted to SEK -5.74 (0.89).

Operating profit includes goodwill write-downs of SEK 469 million reported in the first quarter and restructuring expenses of SEK 35 million, of which SEK 16 million during the third quarter.

Excluding goodwill write-downs and restructuring expenses, operating profit rose by 31 percent to SEK 172 million (131) and the operating margin to 12 percent (10). For the third quarter, underlying profit amounted to SEK 57 million (45) and the operating margin to 13 percent (10).

The Group’s operating revenue increased by 11 percent to SEK 1,429 million (1,287). Organic growth in local currency was 4 percent (1). In the third quarter, organic growth reached 4 percent (3).

Cash flow from operating activities amounted to SEK 147 million (69). Cash flow after investments amounted to SEK 80 million (4).

For further information, please contact:
Niklas Flyborg, President and CEO, telephone: +46 8 507 410 10
Gunilla Rudebjer, CFO, telephone: +46 709 843 836, +46 8 507 417 23

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