Gunnebo interim report January-March 2006

Highlights January-March 2006 * An entirely new organisation was introduced during the quarter for more than 3,000 employees and having an effect on 85% of Gunnebo’s business. * Most of Gunnebo’s some 70 companies in Europe have been grouped in a new structure and the process of merging or discontinuing companies has begun in most European countries. The necessary union negotiations have been more or less completed. * The order intake rose by 6% to MSEK 1,608 (1,524) during the quarter, of which organic growth accounted for 2%, despite the fact that the far-reaching organizational changes have involved some disturbances. * Invoiced sales rose by 3% to MSEK 1,482 (1,438). Organically, sales declined by 1%. * The result after financial items and before items affecting comparability was a loss of MSEK 20 (loss 8). After these items the result was a loss of MSEK 54 (loss 52). * Items affecting comparability amounted to MSEK 34 (cost 44), comprising the cost of the previously announced Gunnebo One Company integration programme, mainly of redundancies. * The result after tax was a loss of MSEK 38 (loss 38). * The loss per share was SEK 0.85 (loss 0.85). Excluding items affecting comparability the loss per share was SEK 0.30 (loss 0.10). * The operating cash flow was a negative MSEK 59 (-38). Outlook for 2006 as a whole The result after financial items for 2006 is expected to be significantly higher than for 2005, both before and after items affecting comparability (MSEK 238 and MSEK 33), but it will still be below the company’s established financial targets. GUNNEBO AB (publ) Group Communications For further information, please contact: Göran Gezelius, President & CEO Gunnebo AB, tel. +46 31 83 68 00, mobile: +46 705 69 85 05, or Lennart Gustavsson, CFO Gunnebo AB, tel.+46 31 83 68 00, mobile +46 705 93 40 80, or Janerik Dimming, SVP Group Communications Gunnebo AB, tel. +46 31 83 68 03, mobile:+46 705 83 68 03, or e-mail janerik.dimming@gunnebo.com www.gunnebo.com