Interim Report for New Wave Group AB (publ)

Organic growth 8%

The period 1 January – 31 March 2008
• Sales increased by 33 % to MSEK 1 015 (760), organic growth amounted to 8 %.
• The result after tax decreased by MSEK 23.7 to MSEK -15.0 (8.7).
• The result per share amounted to SEK -0.22 (0.13).
• The operating margin amounted to 1.5 (3.5) %.
• The result after finance net decreased by MSEK 28.3 to MSEK -16.5 (11.8).
• Acquired units have contributed with MSEK 197 in sales and MSEK -15 in result after finance net.

Significant events during the quarter
• The work with introducing the brands New Wave/Clique in the USA and Cutter & Buck in Europe is going well. The sales work has started within the business area Promo. Costs for establishing the brands have been taken during the quarter.
• The disturbance in production at Orrefors Kosta Boda AB that affected negatively during the fourth quarter last year has decreased but it has also effected this quarter negatively. The weak USD has also affected the result in Orrefors Kosta Boda Inc negatively.
• Despite the weak market in the USA, Cutter & Buck is developing according to the original expectations.

Views on 2008
• The work with regard to increasing efficiency and profitability and decreasing the working capital tied up in stock and accounts receivable continues.
• For 2008 New Wave is expecting higher sales and result then the previous year.

SALES
January – March
The turnover for the period increased by 33 % to MSEK 1 015 (760), of which acquired units have contributed MSEK 197. The currency exchange rate has had a positive effect on sales by MSEK 6.

The organic growth amounted to 8%. The period is most probably effected by a negative calendar effect due to an early Easter. Growth during the first months was higher than the quarter as a whole.

The sales growth was good in all regions except the USA. The operations in America have been effected by a weaker market in the USA, especially Orrefors Kosta Boda Inc.


FOR MORE INFORMATION, PLEASE CONTACT:
CEO, Göran Härstedt
Phone: +46 31 712 89 02
E-mail: goran.harstedt@nwg.se

CFO, Lars Jönsson
Phone: +46 31 712 89 12
E-mail: lars.jonsson@nwg.se


The information in this Report is that which New Wave is required to disclose under the Securities Exchange and clearing Operations Act and/or the Financial Instruments Trading Act. It was released for publication at 07.00 CET on 21 April, 2008.