ProfilGruppen receives compensation for damage in connection with investment in the German company PWG 2006

ProfilGruppen AB has through arbitration been awarded damages of SEK 8.0 million plus interest of approximately SEK 2.8 million, all together approximately SEK 10.8 million. The dispute was regarding deficient advice when ProfilGruppen invested in the German company Profilrollen-Werkzeugbau GmbH&Co.KG, at the end of 2006. Shortly after the investment ProfilGruppen was forced to a write off amounting to SEK 16.4 million, which caused ProfilGruppen to claim the advisor for compensation due to the inadequate due diligence.

After deducting the costs incurred, this year's operating profit is estimated to be affected positively by SEK 5.2 million and the profit before tax by SEK 8.0 million.

The effect in the fourth quarter is estimated to approximately SEK 6.9 million on operating profit and SEK 9.7 million on profit before tax.

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Contact for information:

Peter Schön, CFO, mobile +46(0)70 339 89 99
e-mail: peter.schon@profilgruppen.se  
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ProfilGruppen is a supplier of complex customised aluminium extrusions and components.

This information is published in accordance with applicable laws, listing agreements and directives. The information was released to the media on 29th of December, 2010 at 14:00.

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