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INTERIM REPORT, JANUARY - MARCH 2008

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Highlights

(For table see attached file.)


• Strong start to 2008 with 5% volume growth in the first quarter. Sustained very positive volume growth in Asia, as well as North and South America.

• Gross income was up 8% year on year. Price increases conducted on all markets in the first quarter. Unfavourable effect of a weaker USD, and lower metal inventory gains compared to Q1 2007.

• Operating income was MSEK 196 (188), up 4% year on year, with a negative influence of currency-related other operating items.

• Income before tax was MSEK 191 (172), up 11% year on year.

• Cash flow from operating activities was MSEK 197 (-9). Working capital increased MSEK 30, but reduced in relation to net sales.

(For full report see attached file.)

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