Interim report, January-September 2005

Framfab Continues to Improve

# Net revenue for January-September was SEK 335.6 million (244.9), an increase of 37% over the same period last year. Net revenue for the third quarter was SEK 129.9 million (75.0), 73% higher than the corresponding period in 2004. At SEK 1,127 thousand (933), net revenue per employee on an annual basis for January-September was up by 21% on the first nine months of 2004. # Profit after tax for the first nine months increased by 111% to SEK 18.8 million (8.9). Profit after tax for the third quarter was SEK 5.8 million (3.1), an increase of 87% over 2004. January-September operating profit rose by 141% from 2004 to SEK 20.0 million (8.3), while the third quarter operating profit increased by 154% from 2004 to SEK 6.1 million (2.4). January-September operating margins were 6%, as opposed to 3.4% for the first nine months of 2004. # Earnings per share came to SEK 0.02 (0.01) for January-September and SEK 0.00 (0.00) for the third quarter. # Framfab has posted an operating profit for the seventh quarter in succession and Framfab Netherlands turned profitable. # LB Icon AB, which controls approximately 15% of Framfab's share capital and votes, has requested that the company convenes an Extraordinary General Meeting of shareholders to elect new Board members. The EGM will be held on 28th November 2005. # Cash flow from operating activities was SEK -13.7 million (-36.2) for the first nine months and SEK -22.3 million (-16.8) for the third quarter. Including SEK 135.3 million in payments for Oyster, the January-September cash flow was SEK -130.1 million (103.5). For the third quarter cash flow was SEK -14.8 million (-21.1), of which SEK 13.6 million was payment for Oyster. Liquid funds were SEK 30.6 million as of 30 September.