Year-end report, January - December 2005

Framfab continues to improve

- prepared in accordance with IFRS # Net revenue for the year was SEK 474.0 million (325.8), an increase of 45% year on year. Net revenue for the fourth quarter was SEK 138.4 million (80.9), an increase of 71% year on year. Net revenue per employee rose to SEK 1,176 thousand (943), up 25% compared to last year. # Earnings after tax for the year totaled SEK 35.7 million (25.1), an improvement of 42% year on year. Earnings after tax for the fourth quarter came to SEK 16.9 million (16.2), an increase of 4%. # Earnings per share amounted to SEK 0.03 (0.03) for the full-year, an improvement of 18% year on year. Earnings per share for the fourth quarter came to SEK 0.01 (0.01) for the fourth quarter, equal to the fourth quarter 2004. Earnings per share for the fourth quarter recalculated on an annual basis are equivalent to SEK 0.06. # Operating profit for the year was SEK 38.4 million (13.6) an 182% increase year on year and fourth quarter operating profit increased by 247% to SEK 18.4 million (5.3). Operating margins for 2005 were 8.1%, nearly double that for 2004 (4.2%). # Cash flow from operating activities was SEK 30.3 million (-36.5) for the year and SEK 44.0 million (-0.3) in the fourth quarter. Including SEK 135.3 million in payments related to the Oyster acquisition, 2005 cash flow totaled SEK -98.8 million (104.6). Liquid funds were SEK 61.7 million (159.5) as at 31 December. # During the fourth quarter an extraordinary general meeting reappointed Katarina G. Bonde, Steve Callaghan, Robert Gogel, Kaj Green and Sven Skarendahl as board members. Lucas Mees and Arne Myhre were appointed as new members of the board. Sven Skarendahl was re-elected chairman.

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