Interim report January – March 2010

• Inflow of orders: SEK 1,947 million (2,219) • Net sales: SEK 1,728 million (2,138) • Operating earnings: SEK 57 million (61) • Net earnings: SEK 39 million (24) • Cash flow from operating activities after tax: SEK 131 million (391) • Earnings per share: SEK 1.44 (0.87)

President and CEO Peter Aru: “Demand remained weak in Europe during the first quarter, while other markets showed a positive trend. The cold winter affected business activities in Europe during January and February. The level of activity improved in March. The inflow of orders for service was marginally lower than the previous year. We are continuing our expansion in Asia and during the quarter decided to establish a new production unit in China for the assembly of pumps and mixers, among other things. There remains uncertainty concerning the market trend.” Results - complete report Please see the enclosed pdf document for the complete report where all tables and summaries are found. The report is available at www.cardo.com First quarter 2010 During the first quarter, the inflow of orders amounted to SEK 1,947 million (2,219), down 6% after adjustment for the effects of exchange rate movements. Demand remained weak in Europe during the first quarter, while other markets showed a positive trend. Net sales amounted to SEK 1,728 million (2,138), down 13% adjusted for the effects of exchange rate movements. Operating earnings amounted to SEK 57 million (61). Comparative information As has been announced previously, Cardo is coordinating its operations in the divisions Cardo Entrance Solutions and Cardo Flow Solutions. Historical comparative information for full years and quarters in respect of 2008 and 2009 is available on Cardo’s website. Invitation to conference call today May 4 at 10.00 a.m. Cardo’s President and CEO Peter Aru will comment on the interim report during a conference call today at 10.00 a.m. Notification of intention to take part may be made at www.financialhearings.comor via e-mail to hearing@financialhearings.com. It will be possible to take part and ask questions via telephone number +46 (0)8 505 136 41. The conference may also be followed via a webcast at www.cardo.com or www.financialhearings.com, where you will also be able to listen and see the presentation slides afterwards. The conference will be held in Swedish. Financial calendar 2010 August 13, Interim Report January – June November 12, Interim Report January - September

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