BT INDUSTRIES, January-December 2004

Improved market share in a growing market.

January - December Amounts in SEK m. 2004 2003 Orders received 13,294 12,083 Net sales 12,636 11,877 Income after net 808 736 financial items Net income 517 471 Market development During the year total volume in the industrial truck market reached its highest level ever, measured in terms of orders for number of trucks. BT estimates the global market at around 736,000 units, against approximately 634,000 in the previous year. The highest increase in demand was in the North American market. However, growth and rising volumes now dominate most other markets as well. The forklift truck market is divided into two main categories, warehouse trucks (electric) and counterbalanced trucks (electric- and combustion- powered). Both segments are reporting substantial gains. The global market for warehouse trucks is estimated at 282,000 units, an increase about 13% compared with 2003. Counterbalanced trucks have an estimated global market volume for approximately 454,000 units, up 18%. “The world market for trucks is at an all time high, as is our production level. Our customers are putting even more trust in us, so the BT Group is growing faster than the market. Obviously this is very pleasing” says Per Zaunders, CEO of BT Industries. BT´s primary focus is warehouse trucks. In the last several years, however, it has also been active in counterbalanced trucks – mainly electric-powered. Orders received during the year rose more than the market and BT gained additional market share. In the warehouse truck segment BT thus has strengthened its position as the world´s largest producer in the industry. Orders and sales The Group´s orders received amounted to SEK 13,294 m. (12,083) an increase of 10% compared with the previous year. Net Sales amounted to SEK 12,636 m. (11,877), 6% higher than the previous year. Translated to SEK, the increase was slowed by the weak dollar. At comparable exchange rates, orders received rose by 14% and net sales by 10%. At year-end the order backlog was 32% higher than the beginning of the year. The significant increase is mainly due to the substantial rise in orders received. Of the Group´s net sales, 60% was in Europe, 34% in North America and 6% in the rest of the world. Handling Innovation BT Industries is the world’s leading supplier of warehouse trucks and related services. We are around 8,300 employees and have a turnover of approximately SEK 13 billion. Production takes place at seven plants in four countries and our sales network covers the entire world. Our customers are mainly large, consumer-oriented companies with very high demands on efficient material handling. BT Industries is owned by Toyota Industries Corporation. For further information, please contact CEOPer Zaunders(+46 142 860 32), CFO Håkan Dahllöf (+46 142 863 38) or Corporate Communication Manager AndersStålhammar (+46 142861 21). The complete Annual Accounts and other press material are available on BT Industries’ home page, www.bt-industries.com.