Interim Report 1 January - 30 September 2008

Broström AB (publ) – Reg. no. 556005-1467

• Volatile but improved freight market during third quarter 2008
- Operations in Europe were characterised by a stronger market at the start of the quarter, but ended on a weaker note, although mainly for large tonnage.
- The market in the Atlantic sector was favourably affected by the major need for imported gasoline that arose in the wake of the hurricane season, which curbed domestic production in the USA.
- In Asia, the freight market was relatively strong for almost the entire third quarter.

• On 27 August A.P. Møller – Mærsk A/S announced a recommended cash offer of SEK 57 per share for Broström AB

• Profit after net financial items for the third quarter SEK 115 m (41). No capital gains related to sales of vessels and operations are included (SEK 12 m).
- Net sales were SEK 1,071 m (819).
- Profit after tax was SEK 111 m (45).
- Earnings per share totalled SEK 1.73 (0.69).

• Profit after net financial items for the first nine months SEK 189 m (460). This includes SEK 66 m (120) of capital gains related to sales of vessels, operations and dissolution of negative goodwill (incurred in 2007).
- Net sales were SEK 2,855 m (2,660).
- Profit after tax was SEK 187 m (431).
- Earnings per share were SEK 2.94 (6.55).
- Return on capital employed was 6.9% (12.1).

• Cash flow and disposable liquidity
- Cash flow per share was SEK 5.00 (10.82).
- Disposable liquidity amounted to SEK 780 m (993 on 31 December 2007).

• Change in transport capacity during the third quarter
- The BRO ALMA (17,000 dwt) was delivered and is now operating in Broström’s European sector.
- The CPO GERMANY, the CPO FINLAND, the CPO NORWAY and the CPO RUSSIA (all 37,000 dwt) were delivered to Broström's partner Claus-Peter Offen. The vessels are now trading in Broström’s European sector.

• Outlook
The trend in shipments for the immediate future in Broström's market segments is currently exceptionally difficult to judge. A large volume of new tonnage will be added to the market next year. Despite the drop in oil prices that has been noted recently, there is a growing sense of urgency to reduce dependence on oil, and growth forecasts for oil consumption have been adjusted downward. This trend has been strengthened by the more negative outlook for global economic development in the years ahead. Broström believes that major fluctuations will take place from period to period in both transport volume and freight rates.