Framfab: Interim Report January 1 - September 30, 2002

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Interim report January 1 - September 30, 2002 Framfab AB (publ) · Operating earnings for July-September were SEK -33.4 million (- 515.9), including SEK -10.8 million in restructuring costs. Operating earnings for the first nine months totaled SEK -65.8 million (-2,218.7), including restructuring costs of SEK -19.6 million. Net revenue amounted to SEK 68.4 (114.3) million for July-September and SEK 264.1 million (532.8) for January-September. · Since the trends for the market - and thereby for Framfab - have been poorer than expected, the company took additional cost-savings measures during the third quarter. Measures carried out in the second and third quarters combined reduced Framfab's staff by 122 (77 in the third quarter). That is expected to generate savings of SEK 38.4 million in 2003. Framfab employed a total of 519 people on September 30, of whom 66 had received notices of termination. · Liquid funds amounted to SEK 63.3 million at the end of the third quarter. Cash flow from operating activities in the third quarter totaled SEK -24.9 million (-139.2), of which SEK -8.5 million was attributable to vacation pay and SEK -5.1 million to restructuring costs. · Among the companies which Framfab signed as new clients during the third quarter are Radisson SAS and Yves Saint Laurent. Furthermore, Framfab concluded new general agreements with the Volvo Group and AstraZeneca. The company also opened cooperation with Carlsberg Breweries in October. · The future is very difficult to predict. Ongoing uncertainty about the business cycle has caused many clients and potential customers to postpone their investment decisions. Companies are splitting up projects into various stages and carrying out major cost-effectiveness programs. The board believes that the group's operating earnings will approach break-even for the fourth quarter. That assessment is based on the fact that Framfab's costs have decreased and that revenue is normally higher in the fourth quarter than in the third quarter. The full report including tables can be downloaded from the enclosed links. or Framfab is a leading provider of consulting services and business solutions based on Internet technology. Most of Framfab's customers are big international companies, including 3M, AXA, the Coca-Cola Company, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, NEC Packard-Bell, Nike, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab operates in Denmark, France, Germany, the Netherlands and Sweden. The company is quoted on the O list of the Stockholm Stock Exchange (ticker symbol FRAM). For more information, please visit ------------------------------------------------------------ This information was brought to you by Waymaker The following files are available for download: The full report

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