Interim Report January-March 2014

Steady margin and cash flowFirst quarter summary · Net sales in local currencies, excluding acquisitions and disposals, decreased 1.8 percent. In reported currency, net sales decreased 2.5 percent to SEK 23,972 million (24,582). · The addressable cost base in local currencies, excluding acquisitions and disposals, increased 0.1 percent. In reported currency, the addressable cost base decreased 0.3 percent to SEK 7,010 million (7,029). · EBITDA, excluding non-recurring items, was unchanged in local currencies, excluding acquisitions and disposals. In reported currency, EBITDA,