2003 was the second best year ever for the VSM Group

2003 was the second best year ever for the VSM Group · Sales of Husqvarna Viking and Pfaff products rose by 1.4% during the last quarter of 2003. · Sales in the Group's principal market, North America, increased for the 18th year in succession. · The fall in the dollar (-17%) had an adverse effect on sales while the effect on results was more restrained. · Structural measures halved the operating loss in Germany. · The operating result before amortization of intangible assets was 133 MSEK (128 MSEK) for the last quarter and totalled 270 MSEK (308 MSEK) for the full year. · Operating cash flow was very strong, 323 MSEK (270 MSEK). · A continuing trend in the direction of more advanced sewing and embroidery machines. VSM Group AB SE-561 84 Huskvarna Sweden Tel: +46 3614 6000 (switchboard) CONTACTS Svante Runnquist CEO Tel: +46 3614 6682 Gunnar Vidén CFO Tel: +46 3614 7247 Pictures for free publication can be downloaded from our press room on www.vsmgroup.com This also contains other press information. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/02/19/20040219BIT00300/wkr0001.doc The full report http://www.waymaker.net/bitonline/2004/02/19/20040219BIT00300/wkr0002.pdf The full report