Interim Report January-March 2008

(compared with the same period in the previous year)

· Sales increased by 9 percent to MSEK 1,798 (1,653).

· Operating income (EBIT) decreased by 15 percent to MSEK 99 (116),
which resulted, in an operating margin (EBIT) of 5.5 percent (7.0).

· Income before tax amounted to MSEK 62 (122) Foreign exchange rate
effects has affected the financial net with MSEK -9 (21).

· Net income amounted to MSEK 43 (85) and earnings per share amounted
to SEK 0.12 (0.23).

· In comparison with the same period previous year, calendar effects
are deemed to have impacted sales growth by approximately 2 percentage
points and operating margin by approximately 0.8 percentage points.

· Securitas Systems AB has, in April, changed its name to Niscayah
Group AB (publ), thereby achieving a uniform profile on all markets in
which the Company is active.

· Outlook for 2008 – A total sales growth of over 10 percent and an
EBITA margin around 9 percent.


Jan–Mar Jan–Mar Rolling Jan-Dec
MSEK 2008 2007 12 months 2007
Sales 1,798 1,653 7,405 7,260

Sales growth,
% 9 12 13 14

Organic sales
growth, % 5 13 9 11

Operating
income before
amortization
(EBITA) 104 120 662 678

EBITA margin,
% 5.8 7.3 8.9 9.3
Operating
income (EBIT) 99 116 641 658

Operating
margin
(EBIT), % 5.5 7.0 8.7 9.1

Income before
tax 62 122 530 590

Net income 43 85 382 423

Earnings per
share, SEK 0.12 0.23 1.05 1.16

Return on
capital

employed, % 16 16 16 16


Comments from the CEO, Juan Vallejo

The prioritization of profitability before organic growth in the segment
US/UK/Ireland gives a continued effect despite weaker market conditions.
Compared with previous year, growth and income in Mainland Europe have
been impacted by a reduced number of working days due to calendar
effects. In addition, a certain degree of slowdown, especially in the
French banking sector has been noted. The project write-downs in the
Norwegian operation have burdened operating income by MSEK 20. In all
essentials, the situation has been resolved.

The cash flow was strengthened during the quarter as a result of lower
working capital.

Following the end of the first quarter, a breakthrough has been achieved
in Germany with the acquisition of G4S' German security operation. The
acquisition means that the Group has attained the position as the third
largest player on the market and the largest product-independent
security integrator in Germany.

The impact from the project write-downs in the Norwegian operation,
uncertainties in the banking market and the acquisition of G4S’
operation in Germany means that the EBITA margin for 2008 is estimated
to be around 9 percent.



Press conference
A press conference will be held at Niscayah's head office at Lindhagensplan 70 in Stockholm on 13 May 2008 at 10.30 am, CET.


To follow the press conference by telephone (and ask questions), please call:

Sweden: +46 (0) 8 50 520 270
UK: +44 (0) 208 817 9301
US: + 1 718 354 1226


For additional information contact:

Juan Vallejo, CEO and President,
+46 10 458 8000

Peter Ragnarsson, CFO,
+46 10 458 8000

Åsa Larsson, Head of and Communication,
+46 10 458 8000


Niscayah Group AB (publ.) is a world leading security partner offering complete security solutions for clients with high security demands within market segments such as banking and finance, industry, defense, healthcare and retail. Niscayah's services are based on modern technology and include access control, video surveillance, intrusion protection and fire alarm systems.
www.niscayah.com