Second quarter 2003

Half Year Report 2003

Profit after financial items for the second quarter increased by SEK 71 million compared with last year and amounted to SEK 366 (295) million. Profit for the first half of the year thus amounted to SEK 780 (477) million, corresponding to earnings per share of SEK 5.40 (3.20).
Deliveries of the Group's niche products, extra and ultra high-strength sheet and quenched steels, were 18% higher during the first half of the year than last year.
Cash flow for the first half of the year amounted to SEK 37 (946) million.

Stockholm, 21 July 2003

Anders Ullberg