Interim Report January – June 2004

International sales increases, weak demand in Sweden

January – June 2004 • Earnings after financial items amounted to SEK -21m (-33). The Swedish operations affected the earnings with SEK -39m. • Net profit amounted to SEK -20m (-32). • Earnings per share amounted to SEK -0.25 (-0.40). • Total revenue amounted to SEK 1 131m (1 151). • The professional services margin increased by 2 percentage points to 20%. April – June 2004 • Earnings after financial items amounted to SEK -30m (-34). • Net profit amounted to SEK -24m (-31). • Earnings per share amounted to SEK -0.30 (-0.39). • Total revenue amounted to SEK 549m (569). • Acquisition in the USA. • An action program in the Swedish operation has been initiated to reduce annual costs of SEK 20m from 2005 and onwards. Full-year forecast • The full-year forecast of improved positive earnings after financial items for 2004 remains unchanged. MAGNUS WASTENSON, CEO FOR IBS, COMMENTS ON THE SECOND QUARTER, 2004: »Our interim report shows improved results, and contains both positive and negative aspects. During the quarter, we increased international licence sales in Europe and our overall professional service revenue. At the same time, weak development of our Swedish operations has had a negative impact on IBS earnings for the period. During the second quarter, we have initiated an action program that will increase the efficiency and profitability in the Swedish market.« 16 July, 2004

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International Business Systems (IBS), the leading business application supplier for wholesale and distribution helps companies differentiate themselves on the strength of their distribution operations. Founded in 1978, IBS has over 30 years of experience in the distribution industries ranging from automotive and electronics to paper, publishing, pharmaceuticals, food and beverage. This deep understanding of distribution models and best practices is embodied within IBS Enterprise, a distribution resource management application suite on which thousands of the world’s most successful companies now rely.

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