CARDO’S ANNUAL REPORT 2006

Cardo’s annual report for 2006 is being published today on our website at www.cardo.com.
The printed version is being distributed to shareholders and other parties.

In the annual report, Cardo’s President and CEO Peter Aru comments:
“During 2006, Cardo laid a good platform upon which to secure growth and good profitability. The Cardo that we are seeing develop today is an operative group focusing on selected, industrial customers.”

Some of the main points emphasized are:
• Good growth in all divisions, especially strong in markets outside Europe
• Strong improvement in profitability through increased sales and efficiency measures
• Focus on volume-intensive customers with a great need for service

The annual report shows that the price of the Cardo share rose by 34% during 2006. During the past five years, the share price has risen by an average of just under 12% a year and the average dividend yield has been slightly more than 7% a year. A dividend of SEK 9 is proposed for the financial year 2006.

The annual report can be read and downloaded at www.cardo.com, where there is also information on giving notice of intention to attend Cardo’s AGM on April 2. The printed annual report is being distributed to those shareholders and other parties who have notified Cardo’s subscription service that they wish to receive it by regular mail. Printed copies may be requested on the website or via Cardo Communications & Investor Relations at info@cardo.com.

Malmö, Sweden, March 15 2007
Cardo AB (publ)



For further information, please contact:
Maria Bergving, Senior Vice President Communications & Investor Relations,
tel +46 40 35 04 25, +46 70 602 61 81, maria.bergving@cardo.com