Interim report January - March 2003

Interim report January - March 2003 · Earnings net of financial items were up SEK 10.0 million compared with last year. · Earnings net of financial items totalled SEK -7.4 million (-17.4m). For the first quarter of 2003, Frango reported a loss, in line with normal seasonal trends. · The improvement in earnings is attributable to cost savings programmes completed by Frango, aimed at ensuring the company's return to profitability for the full year. · Operating expenses were reduced by 14 per cent, or SEK 10.6 million. · Revenues for the first quarter totalled SEK 56.5 million (57.4m). · Revenues from licence sales for Frango's main proprietary products for statutory consolidation continued to show strong growth, rising by 35 per cent. · Contracts for Frango Controller were signed with CEZ a.s. in the Czech Republic, Alliance UniChem Services Ltd in the UK and SIG Holding AG in Switzerland, among others. For further information, please contact: Tom Löfstedt, Managing Director, or Karl Ove Grönqvist, CFO, tel. +46(0)8 555 775 00. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/04/11/20030411BIT00290/wkr0001.doc The full report http://www.waymaker.net/bitonline/2003/04/11/20030411BIT00290/wkr0002.pdf The full report