Summary of Semcons Annual General Meeting 2003

Summary of Semcon's Annual General Meeting 2003 Semcon AB's Annual General Meeting was held on Thursday, 13 March 2003. CEO Hans Johansson reported on the performance for 2002. Semcon's growth for 2002 was 6.5%. Sales stood at SEK 1 200. 2 million (1 126.6) and the operating profit was SEK 10.1 million (5.7). The average number of employees was 1581 (1585). Major customers include Volvo Car Corporation, Ericsson, Saab Automobile, AB Volvo, AstraZeneca, Tetra Pak, Bombardier, ABB and Scania. In 2002 a number of strategic partnership agreements were signed with Ericsson in Sweden, Norway and Denmark. Outlook Demand was lacklustre in 2002 and further weakened at the end of the year and beginning of 2003. Business has been worse than expected during the first few months of 2003 and a loss has been seen. Semcon's Board decided at a Board meeting to go ahead with the introductory rationalisation scheme presented by the company's management. This means a significant amount of changes aimed at ensuring the year's results will be positive. Members of the Board of Directors Christian W Jansson was re-elected as Chairman of the Board. Board members Pia Gideon, Carl-Åke Jansson, Annemarie Gardshol and Hans Johansson were re-elected. Dividends Taking into account Semcon's results for the year the AGM proposed that no dividend be paid to shareholders for 2002 (0). New share issue The Annual General Meeting authorised the Board to take a decision, up to and including the annual general meeting in 2004, regarding a new share issue of 900,000 shares in the company. For more information, contact: Christian W Jansson, Chairman of the Board Semcon AB, +46 708-16 02 20 Hans Johansson, Chief Executive and Managing Director, +46 705-91 43 34 Bengt Nilsson, Chief Finance Officer, +46 704-47 28 68 Semcon is one of Scandinavia's leading design and R&D consulting businesses with approximately 1600 employees and over SEK 1.200 million in sales in 2002. Semcon develops products, processes and human resources in partnership with leading industrial companies. The combination of profitability over the past twenty years and Semcon's long relationships with leading industrial companies forms the basis for continued success. Semcon AB (publ.) is listed on Stockholmbörsen's O- list. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/03/14/20030314BIT00140/wkr0001.doc http://www.waymaker.net/bitonline/2003/03/14/20030314BIT00140/wkr0002.pdf

About Us

Semcon is an international technology company that develops products based on human needs and behaviours. We strengthen our customers’ competitiveness by always starting from the end user, because the person who knows most about the user’s needs creates the best products and the clearest benefits to humans. Semcon collaborates mainly with companies in the automotive, industry, energy and life science sectors. With more than 2000 specialised employees, Semcon has the ability to take care of the entire product development cycle, from strategy and technology development to design and product information. Semcon was founded in Sweden in 1980 and has offices in over 30 locations in eight different countries. In 2016, the Group reported annual sales of SEK 1.8 billion. Read more on semcon.com

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