Half-Yearly Report, 2004

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Net sales for the first half amounted to SEK 62,443m (65,375) and net income to SEK 1,743m (2,857), corresponding to SEK 5.70 (9.05) per share

HALF-YEARLY REPORT, 2004 Stockholm, July 16, 2004
* Net sales for the first half amounted to SEK 62,443m (65,375) and net income to SEK 1,743m (2,857), corresponding to SEK 5.70 (9.05) per share
* Operating income for the second quarter adversely affected by a charge of SEK 167m for the closure of the Västervik plant and SEK 239m for settlement in a vacuum-cleaner lawsuit
* Cash flow improved substantially in both the second quarter and half year
* Higher operating income and margin for Consumer Durables in Europe and Rest of the world
* Substantially lower operating income for floor-care products in North America, decision taken on restructuring
* Brand spending increased by SEK 225m compared to first half 2003, mainly within Consumer Durables in Europe and in North America

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News Source : HALF-YEARLY REPORT, 2004