NOTE posts continously improved profitability

January-June
• Sales increased 8% to SEK 895.2 (831.6) m
• Operating profit improved by 29% to SEK 55.3 (43.0) m
• Operating margin increased to 6.2% (5.2%)
• Profit after tax was SEK 38.4 (27.9) m or SEK 3.99 (2.90) per share
• Cash flow was SEK 73.4 (8.3) m, SEK 7.63 (0.86) per share
• New Board appointed, Arne Forslund reinstated as CEO
• Long-term collaborations signed with Kongsberg and Schneider Electric
• Decision on new financial objectives

Second quarter
• Sales increased 9% to SEK 470.2 (433.1) m
• Operating profit improved by 27% to SEK 30.5 (24.1) m
• Operating margin increased to 6.5% (5.6%)
• Profit after tax was SEK 22.4 (15.8) m
• Cash flow was SEK 27.8 (-15.4) m

New financial objectives
Growth objective: NOTE will increase its market shares, organically and via acquisitions.

Profitability objective: NOTE will achieve profitable growth. Long term and on average over a business cycle, profitability, expressed as return on operating capital, will exceed 35%.

Capital structure objective: The minimum equity to assets ratio will be 30%.

NOTE’s Interim Report for January-June 2007 is now both available in PDF format at NOTE’s website, www.note.se, and attached to this message.

The Interim Report for January-September 2007 will be published on 26 October 2007.