Interim report April-June 2012

Activities in China boost growth

• Strong growth in first half of 2012 within the Group, +19%
• Major improvement in earnings in Q1 and Q2, operating profit (EBITDA) of SEK 6.7 million (–26.2 m)
• Continued savings, workshop in Spånga closed down and assembly outsourced
• New products generate strong increase in volumes for Engine Efficiency’s Chinese factory
• New development, licensing and delivery agreement based on SRM’s leading compressor technology in China; in the past year contracts worth close to SEK 80 million have been signed with major Chinese company in refrigeration sector

Q1-2, January-June 2012

• Net sales amounted to SEK 337.2 million (283.4 m)
• Operating profit (EBITDA) was SEK 6.7 million (–26.2 m)
• Operating loss (EBIT) was SEK 12.2 million (–44.2 m)
• Loss after tax of SEK 14.5 million (–37.3 m)
• Earnings per share SEK –0.11 (–1.56)

Q2, April-June 2012

• Net sales amounted to SEK 174.1 million (158.2 m)
• Operating profit (EBITDA) was SEK 4.5 million (–1.7 m)
• Operating loss (EBIT) was SEK 6.1 million (–10.8 m)
• Loss after tax of SEK 7.3 million (–11.5 m)
• Earnings per share SEK –0.06 (–0.50)

Significant events after the end of the period

• Opcon Marine has taken a decisive step forward. The two installations of Opcon Powerbox for generation of electricity from waste heat on board Wallenius’ vessel have been approved by Lloyds – an essential precondition for further commercialisation. This also means that a specially resource-intensive development phase has been concluded.

For further information

• Rolf Hasselström, President and CEO: +46 8 466 45 00, +46 70 594 79 60
• Göran Falkenström, deputy CEO and CFO: +46 532 611 22, +46 70 330 05 02
• Niklas Johansson, deputy CEO, Investor Relations: +46 8 466 45 11, +46 70 592 54 53

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