Framfab AB (publ) Interim report January-September 2003

Interim report January-September 2003 Framfab AB (publ) * Net revenue was SEK 186.1 million (264.1) for January-September and SEK 53.8 million (68.4) for the traditionally weaker third quarter. * The loss after tax for January-September was SEK -84.0 million (- 62.2), of which SEK -37.2 million was attributable to the divestment of shares in B2 Bredband AB. Third quarter earnings improved substantially from the previous quarter to SEK -11.3 million (-32.8). Earnings per share amounted to SEK -0.17 (-0.13) for January-September and SEK -0.02 (-0.07) for the third quarter. * Cash flow was SEK -3.0 million (-50.3) for January-September and SEK 24.8 million (-25.8) for the third quarter. * Framfab strengthened its financial position and ownership structure in September by carrying out a special issue of new shares that raised SEK 34.1 million after underwriting expenses. * Costs continued to decrease according to plan in the third quarter. Previously planned cost effectiveness measures implemented in the second and third quarters will reduce costs by an estimated SEK 46 million on an annual basis. * On September 3, Framfab took over 14 employees and a number of customer relationships from Icon Medialab in Denmark. The newly acquired operation is expected to make a positive contribution to operating earnings in 2003. * Framfab signed an agreement with SBI Group Inc. as of October 22 for the acquisition of SBIs London operations, including 62 employees. The deal represents considerable international expansion, uniformly distributed between Britain and the rest of Europe, of Framfabs client base. The two companies also signed a strategic collaboration agreement. The acquisition is conditional upon confirmation of certain information about SBI (UK) and approval by a special meeting of Framfab shareholders, scheduled for November 12. * The market remained weak in the third quarter. The company´s objective remains to attain profitability during the fourth quarter. However, the impact of the sluggish economy on fourth quarter revenue still appears uncertain. The full report including tables can be downloaded from the enclosed link. Framfab is a leading European specialist in digital media solutions and communication based on Internet technology. Most of Framfab's customers are big international companies, including 3M, AXA, the Coca-Cola Company, Danske Bank, Ericsson, Hydro Texaco, IKEA, Kellogg's, NEC Packard-Bell, Nike, Observer, Postbank, SAAB, Volvo Car Corporation and UBS. Framfab operates in Denmark, Germany, the Netherlands, Sweden and Switzerland. The company is quoted on the O list of the Stockholm Stock Exchange (ticker symbol FRAM). For more information, please visit ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The full report


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