Interim Report 1 January–31 March 2005

2005:1 2004:1 2004:4 Earnings per share, SEK 2.82 5.89 4.62 Cash flow from current operations per share, SEK -0.11 3.68 8.24 Net sales, SEK M 22,518 21,687 23,128 Earnings after financial items, SEK M 894 1,883 971 Net earnings, SEK M 662 1,384 1,082 2005 compared with 2004 • Net sales amounted to SEK 22,518 M (21,687). • Earnings after taxes amounted to SEK 662 M (1,384) 1) . • Earnings per share amounted to SEK 2.82 (5.89). • Earnings after financial items amounted to SEK 894 M (1,883). Adjusted for items affecting comparability, earnings after financial items amounted to SEK 1,319 M (1,914), a decline of 31%. Compared with fourth quarter of 2004 • Net sales amounted to SEK 22,518 M (23,128). • Earnings after taxes amounted to SEK 662 M (1,082) 1). • Earnings per share amounted to SEK 2.82 (4.62). • Earnings after financial items amounted to SEK 894 M (971). Adjusted for items affecting comparability, earnings after financial items amounted to SEK 1,319 M (1,597), a decline of 17%. Rationalization Programs • Costs during the quarter for the rationalization programs approved in January amounted to SEK 425 M. 1) As in the first and fourth quarters of 2004, earnings in the quarter were affected by efficiency enhancement measures. In addition, during the fourth quarter, financial items and taxes were affected positively by items affecting comparability, see also page 10. For further information please contact: Jan Åström, President and CEO. Telephone: +46 70 586 0701. Peter Nyquist, Senior Vice President, Communications and Investor Relations. Telephone: +46 70 575 2906.