Pergo Year End Report 2002

Year-end report - Twelve months ended December 31, 2002 (All figures within parentheses pertain to corresponding period in the preceding year.) · Operating profit amounted to MSEK 61 (loss: 889), in line with the earlier communicated forecast of at least MSEK 50. Profit after financial items amounted to MSEK 56 (loss: 937). · Net sales amounted to MSEK 3,194 (3,792). Excluding currency effects, sales for the full year declined 11% compared to full year 2001. · Cash flow from ongoing operations during the full year was positive and amounted to MSEK 467 (negative: 104). The net cash balance amounted to MSEK 141, which can be compared with a net debt of MSEK 647 at year-end 2001. · The action program continued to progress better than planned. For 2002, savings amounted to more than MSEK 500. · As previously announced, the world's largest laminate flooring group, consisting of Kaindl, Kronospan and Kronotex, signed a license agreement with Pergo during the quarter that grants them the right to manufacture click joints supported by Pergo's technology. · During the fourth quarter, a decision was taken that Pergo will launch products in the world's second-largest building supplies chain, Lowe's. Deliveries to Lowe's began in late January 2003. · After the close of the period, Pergo and HW Industries signed an agreement by which Pergo will acquire all of HW Industries' shares in Witex AG. The acquisition will be made by a directed share issue and a payment of MEUR 6 in cash. A total of 13,392,421 shares will be issued to HW Industries, which after the merger will own 20% of the shares in Pergo. The merger is amongst others conditional upon the approval of the directed share issue at an Extraordinary General Meeting. ------------------------------------------------------------ This information was brought to you by Waymaker http://www.waymaker.net The following files are available for download: http://www.waymaker.net/bitonline/2003/02/10/20030210BIT00420/wkr0001.doc Full report http://www.waymaker.net/bitonline/2003/02/10/20030210BIT00420/wkr0002.pdf Full report