INTERIM REPORT January - June 2004

INTERIM REPORT January - June 2004 - Net sales for the period April-June 2004 amounted to MSEK 6.9 (9.7). For the period January- June 2004 net sales amounted to MSEK 11.9 (14.7). - Operating result for the second quarter amounted to MSEK -1.3 (-1.4) and the result after financial items was MSEK -0.6 (-0.6). Operating result for the period January-June amounted to MSEK -5.0 (-4.6) and the result after financial items was MSEK -3.5 (-2.8) or SEK -0.07 (-0.05) per share. - Net sales as well as order intake of Digital Broadcasting was stronger during the period January-June 2004 compared to the same period 2003. Net sales for Digital Broadcasting increased by 14 per cent and order intake by 28 per cent compared to the first six months 2003. For Header Compression sales were weaker than the previous year. - Liquid assets at the close of the period totaled MSEK 97.7 (107.8 at previous year-end) or SEK 1.78 (1.96) per share. Stockholders' equity at the close of the period amounted to MSEK 100.6 (104.2) or SEK 1.83 (1.90) per share. - During the second quarter Factum Electronics received several important orders, notably from BBC and Denmark's Radio for DAB-equipment and from Harris Broadcasting Corporation for NICAM-encoders. In all the order intake of Digital Broadcasting during the second quarter increased by 46 per cent compared to the second quarter 2003. - During the second quarter the operations of the subsidiary Wkit Security were closed down. Events after the end of the period - At the Extraordinary General Meeting of Effnet Group AB on July 2, 2004, the shareholders decided to acquire a real estate portfolio by a non-cash issue, to change the company's name to AB Sagax (publ) and to distribute the subsidiary Effnet Holding AB with the Technology operations to the shareholders. For further information, please contact: David Mindus, CEO of AB Sagax, +46 (0)8 545 835 40, mob +46 (0)70 602 76 35 Hans Runesten, CEO of Effnet Holding AB, +46 (0)8 564 605 50 or +46 (0)702 80 26 26, Krister Moberger, CFO of Effnet Holding AB, +46 (0)8 564 605 50 or +46 (0)8 564 611 02 or visit the website of AB Sagax www.absagax.se or Effnet Holding AB www.effnetholding.se The next report for AB Sagax will be the Interim Report for January-September, 2004, due for release on October 29, 2004. The next report for Effnet Holding AB will be the Interim Report for January- September, 2004, due for release on October 29, 2004. AB Sagax (previously Effnet Group AB (publ)), corporate identity number 556520-0028, is located in Stockholm, Sweden. Address: Riddargatan 23, 114 57 Stockholm. The company's stock was introduced on the New Market list in April 1999 and is traded on the Stockholm Stock Exchange. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2004/07/30/20040730BIT20060/wkr0001.pdf The full report