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INTERIM REPORT JANUARY–JUNE 2004

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Highlights

Q 2

Net sales MSEK 1 091 +17%
Income after tax MSEK 125 +24%
Earnings per share SEK 3.60 (3.00)
Income before tax MSEK 176 +28%
Operating margin 17.0% (16.0)
Equity/assets ratio 42% (38)

Q 1-2

Net sales MSEK 2 133 +11%
Income after tax MSEK 233 +19%
Earnings per share SEK 6.80 (5.70)
Income before tax MSEK 329 +22%
Operating margin 16.3% (15.1)
Equity/assets ratio 42% (38)

SCM’s copper operation divested - capital gain MSEK 20.

(For complete Interim Report see attached file)

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