Framfab reports profit for Q4 2001

Year-end report January - December 2001 Framtidsfabriken AB (publ) Framfab reports profit for Q4 2001 * Operating profits (EBITA) for the fourth quarter of 2001 amounted to SEK 2.8 million. Profits before tax (EBT) for the same period totalled SEK 5.0 million. * Operating profits (EBITA) improved from SEK -86.0 million in Q3 to.SEK 2.8 million in Q4 for 2001. Sales rose during the fourth quarter by SEK 19.6 million - or 17 per cent - while costs fell by SEK 69.2 million, or 35 per cent compared to the third quarter of 2001. * At December 31, 2001, cash holdings totalled SEK 114.5 million, compared with SEK 125.9 million at 30 September 2001. * Framfab works with existing long-term customer relations with major international companies. New customers such as Coca-Cola, Philippine Airlines and Ondeo were added during the fourth quarter.. * The Board confirms that Framfab now has completed the restruction programme that was presented at the ordinary General Meeting May 4, 2001. The Board believes that conditions are in place for the company to continue to generate modest profits in the first quarter of 2002. In addition, the Board believes that the Company has a comfortable cash position to continue its activities. Cash Flow for the second quarter is estimated to be positive. The long-term target is now to pursue profitable growth to become one of Europe's leading Internet consultancy companies. * Today, the Board of Framfab, appointed Anders Ekman as new CEO. He joins the company from IBM, where he was Nordic Manager of IT and business consulting within Financial Services. Anders Ekman will take up his new duties no later than April 15, 2002. Last summer, Framfab's current CEO Johan Wall informed the Board of his wish to step down once the goal of restoring profitability in Framfab had been achieved. Johan Wall became CEO in November of 2000 and has worked itensively with restructuring the business and creating a profitable company. The full report including tables can be downloaded from the enclosed links. www.waymaker.se www.framfab.com The report is presented today at 13.30 CET at a press conference at IVA, Grev Turegatan 16 in Stockholm. Framfab is a leading supplier of consultancy services and business solutions based on Internet technology. Framfab's customer base primarily consists of major international companies such as 3M, AXA, Coca-Cola, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, McDonalds, NEC Packard-Bell, Nike Europe/US/Asia Pacific, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab operates in Denmark, France, Germany, the Netherlands and Sweden. Framfab is listed on the O- list of the OM Stockholm Stock Exchange (ticker FTID). For additional information, call in at www.framfab.com. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2002/02/13/20020213BIT00440/bit0002.doc The full year-end report http://www.waymaker.net/bitonline/2002/02/13/20020213BIT00440/bit0002.pdf The full year-end report