Gunnebo year -endrelease 2003

GUNNEBO YEAR -ENDRELEASE 2003 Fourth quarter 2003 - strong result and cash flow · Invoiced sales amounted to MSEK 1,857 (1,928). · The profit after net financial items increased by 6 per cent to MSEK 134 (127). · The profit after tax amounted to MSEK 105 (116). · Gunnebo Security's operating margin improved to 10.0 per cent (9.1) and Gunnebo Engineering's to 9.0 per cent (7.9). · The operative cash flow, excluding structuring costs, was continous very strong at MSEK 289 (289). · Earnings per share declined to SEK 4.85 (5.30) pending on higher tax charges. Financial year 2003 · Invoiced sales amounted to MSEK 6,961 (6,976) negatively affected by currency effects of MSEK 210. · The profit after financial items increased by 22 per cent to MSEK 341 (280), profit influenced by a deficit of MSEK 30 resulting from currency fluctuations. · The profit after tax increased by 14 per cent to MSEK 260 (229). · Gunnebo Security's operating profit increased by 11 per cent to MSEK 428 Mkr (385) and its operating margin to 7.4 per cent (6.6). · Gunnebo Engineering's operating profit increased by 7 per cent to MSEK 87 (81) and itsoperating margin to 7.6 per cent (6.9). · The operative cash flow remained strong - excluding structuring costs it amounted to MSEK 500 (501). The cash flow per share from current operations was SEK 21.30 (21.15). · Net loan liabilities declined by MSEK 272 to MSEK 1,309 (1,581). The Group's financial position strengthened further. The equity ratio rose to 37 per cent (30). · Earnings per share increased by 13 per cent to SEK 11.95 (10:55). Proposal for dividend and split · It is proposed to increase the dividend with 12,5 per cent to SEK 4.50 per share (4.00). The Board also proposes a two-for-one share split. Outlook for 2004 · The commercial outlook for the financial year 2004 as a whole is good. According to the normal seasonal pattern the first quarter result is expected to be weak. A forecast will be published in connection with the first quarter interim report. GUNNEBO AB (publ) For further information please contact: Bjarne Holmqvist, President and CEO, tel: +46-31-83 68 00 mobile: +46- 708-40 03 70 or Lennart Gustavsson, CFO, tel: +46-31-83 68 00 mobile: +46-705-93 40 80 or Janerik Dimming, Director of information,tel: +46-31-83 68 03 mobile: +46-705-83 68 03,e-mail: janerik.dimming@gunnebo.se www.gunnebo.se ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/04/20040204BIT00450/wkr0001.pdf The full year end report

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The Gunnebo Group is a global leader in security products, services and solutions with an offering covering cash management, safes and vaults, entrance security and electronic security for banks, retail, mass transit, public & commercial buildings and industrial & high-risk sites. The Group has an annual turnover of MSEK 6,100, employs 5,600 people and has sales companies in 28 countries across Europe, Middle East & Africa, Asia-Pacific and the Americas as well as Channel Partners on over 100 additional markets. We make your world safer.

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