Interim report January – March 2009

First quarter of 2009 – Lower volumes and major cost adjustments in a weak market

 Net sales declined by 24 percent to 647 MSEK (852)
 Operating profit, excluding items affecting comparability, amounted to 46 MSEK (83)
 Operating profit amounted to a loss of 52 MSEK (profit: 83)
 Operating margin, excluding items affecting comparability, amounted to 7.1 percent (9.7)
 The operating margin was negative during the first quarter
 Result after tax amounted to a loss of 55 MSEK (profit: 50)
 Earnings per share, excluding items affecting comparability, amounted to 0.98 SEK (profit: 1.88)
 Earnings per share amounted to a loss of 2.07 SEK (profit: 1.88)
 Operating cash flow totalled 33 MSEK (91), excluding items affecting comparability
 Previously announced restructuring costs amounted to 98 MSEK

President’s comments
“As expected, the first quarter was extremely challenging, with a sharp decline in demand. We continued to adapt our costs quickly and comprehensively to new market conditions characterised by sharply lower volumes. Our sales declined by 24 percent but, as a result of rapid and comprehensive measures, our operating profit amounted to 46 MSEK (excluding previously announced restructuring costs related primarily to the closure of our compounding plant in Canada). This corresponds to an operating margin of 7.1 percent (9.7). We are also working actively to improve our market positions in a highly uncertain market climate.”

Georg Brunstam, President and CEO



For further information please contact;

Georg Brunstam
President and CEO
+46(0)708-55 12 51

Urban Ottosson
CFO and Investor Relations
+46(0)767-85 51 44