Interim Report January – March 2005

Security Services USA at turning point and continued improvement in all other divisions.
• Sales in the first quarter increased by 4 percent to MSEK 15,195 (14,453), adjusted for changes in exchange rates, acquisitions and divestitures.
• Operating income in the first quarter increased by 8 percent to MSEK 937 (885), adjusted for changes in exchange rates. Operating margin was 6.2 percent (6.1).
• Income before taxes in the first quarter increased by 16 percent to MSEK 818 (724), adjusted for changes in exchange rates.
• Net income in the first quarter increased by 10 percent to MSEK 606 (551).
• Earnings per share after full taxes increased 9 percent to SEK 1.63 (1.49) in the first quarter.
• Free cash flow in the first quarter increased to MSEK 266 (13) representing 43 percent (2) of adjusted income.