Aspiro AB (publ): Interim Report, January-September 2004

Third Quarter:

• Positive Earnings after Tax; 9% Operative Margin • Operative earnings* for the third quarter amounted to SEK 5.1 m (SEK –4.6 m) and the operative margin was 9 percent. Net earnings for the same period amounted to SEK 1.6 m (SEK –7.7 m); earnings per share were 0.02 (–1.20). • Net sales totaled SEK 54.5 m (SEK 5.3 m) for the third quarter. Compared to the second quarter net sales (pro-forma) increased by 15 percent. • Liquid assets amounted to SEK 48.3 m (SEK 5.2 m) at the end of the period. Less the consideration that is to be paid to former Cellus shareholders, an interest-bearing liability and provisions for restructuring, the Group’s liquid assets amounted to SEK 28.0 m. • Net sales in the second half-year 2004, are expected to slightly exceed the previously announced SEK 95 million. Furthermore, the Board expects the minimum operating margin before amortization of goodwill and restructuring expenses of 5 percent to be exceeded.