Haldex - First quarter 2009

• Sales totaled SEK 1,562 m (2,131). Adjusted for currency exchange rates, sales declined 37%.

• Earnings after tax amounted to SEK -145 m (63). Earnings per share amounted to SEK -6.47 (2.85).

• Operating income* and the operating margin* amounted to SEK -80 m (112) and -5.1% (5.3) respectively.

• The cost reduction program is ahead of plan. 1700 employees have left the company since mid 2008 and the new estimate is set to 1900 employees, which is a 30% reduction by mid 2009. The cost savings are expected to be approximately SEK 600m on an annual basis.

• A restructuring cost of SEK 69 m, which is the last part of the earlier announced cost reduction program estimated to SEK 150 m, has been charged in the first quarter of 2009.

• Haldex received its largest single order ever amounting to SEK 4.5 billion from VW for All-Wheel-Drive systems for VW’s new modular platform.

• The divestment of Garphyttan Wire division is proceeding according to plan. Closing is expected in the second quarter. The purchase price, which will be paid in cash, is estimated to SEK 800 m on a cash and debt free basis.




* Excluding restructuring costs, one-off items and amortization of acquisition-related surplus values. Operating income, including items above, amounted to SEK -156 m (112).

For further information, please contact Joakim Olsson, President and CEO, Stefan Johansson, CFO, or Lena Olofsdotter, SVP Corporate Communications, at Tel. +46 (0)8 545 049 52.