Statement of income 2007

MSEK | Q1 2007 | Q2 2007 | Q3 2007 | Q4 2007 |
Continuing operations | ||||
Sales | 14,982.6 | 15,303.3 | 15,605.9 | 15,660.0 |
Sales, acquired business | 234.9 | 279.3 | 404.8 | 436.8 |
Total sales | 15,217.5 | 15,582.6 | 16,010.7 | 16,096.8 |
Organic sales growth, % | 5 | 4 | 4 | 6 |
Production expenses | –12,380.3 | –12,737.5 | –13,042.1 | –12,975.6 |
Gross income | 2,837.2 | 2,845.1 | 2,968.6 | 3,121.2 |
Selling and administrative expenses | –2,017.7 | –2,067.3 | –2,142.8 | –2,380.5 |
Other operating income | 3.9 | 4.9 | 5.0 | 4.4 |
Share in income of associated companies | – | – | – | 0.3 |
Operating income before amortization | 823.4 | 782.7 | 830.8 | 745.4 |
Operating margin, % | 5.4 | 5.0 | 5.2 | 4.6 |
Amortization and impairment of acquisition related intangible assets | –24.8 | –27.4 | –372.8 | –33.0 |
Acquisition related restructuring costs | 0.0 | –0.9 | –16.2 | –21.9 |
Items affecting comparability | 23.7 | –218.8 | –4.3 | –518.7 |
Operating income after amortization | 822.3 | 535.6 | 437.5 | 171.8 |
Financial income and expense | –128.5 | –137.8 | –148.3 | –150.6 |
Revaluation of financial instruments | –0.3 | 3.6 | –7.3 | –2.7 |
Share in income of associated companies | 0.4 | 1.8 | – | – |
Income before taxes | 693.9 | 403.2 | 281.9 | 18.5 |
Net margin, % | 4.6 | 2.6 | 1.8 | 0.1 |
Current taxes | –155.9 | –129.7 | –145.9 | –84.0 |
Deferred taxes | –20.3 | –326.0 | –41.6 | 31.9 |
Net income for the year, continuing operations | 517.7 | –52.5 | 94.4 | –33.6 |
Net income for the year, discontinued operations | – | – | – | – |
Net income for the year, all operations | 517.7 | –52.5 | 94.4 | –33.6 |

Whereof attributable to: | ||||
Equity holders of the Parent Company | 517.7 | –52.5 | 94.4 | –35.2 |
Minority interests | 0.0 | 0.0 | 0.0 | 1.6 |

Earnings per share before dilution, continuing operations (SEK) | 1.42 | –0.14 | 0.26 | –0.10 |
Earnings per share before dilution, discontinued operations (SEK) | – | – | – | – |
Earnings per share before dilution, all operations (SEK) | 1.42 | –0.14 | 0.26 | –0.10 |

Earnings per share after dilution, continuing operations (SEK) | 1.41 | –0.14 | 0.26 | –0.10 |
Earnings per share after dilution, discontinued operations (SEK) | – | – | – | – |
Earnings per share after dilution, all operations (SEK) | 1.41 | –0.14 | 0.26 | –0.10 |
Statement of cash flow 2007

MSEK | Q1 2007 | Q2 2007 | Q3 2007 | Q4 2007 |
Continuing operations | ||||
Operating activities | ||||
Operating income before amortization | 823.4 | 782.7 | 830.8 | 745.4 |
Investments in fixed assets | –376.0 | –314.8 | –321.0 | –563.0 |
Reversal of depreciation and impairment losses | 359.4 | 355.8 | 368.3 | 364.5 |
Change in accounts receivable | –136.7 | –336.9 | –554.7 | 195.5 |
Change in other operating capital employed | –243.7 | 332.8 | 605.3 | 657.5 |
Cash flow from operating activities | 426.4 | 819.6 | 928.7 | 1,399.9 |
Cash flow from operating activities, % | 52 | 105 | 112 | 188 |
Financial income and expenses paid | –90.5 | –129.5 | –135.3 | –150.2 |
Current taxes paid | –131.2 | –313.8 | –112.9 | –98.8 |
Free cash flow | 204.7 | 376.3 | 680.5 | 1,150.9 |
Free cash flow, % | 38 | 73 | 127 | 225 |
Cash Flow from investment activities, acquisitions | –144.5 | –117.3 | –332.3 | –307.7 |
Cash flow for items affecting comparability | 14.1 | –42.6 | –681.9 | 146.4 |
Cash flow from financing activities | 2,039.5 | –496.2 | 197.2 | 5.4 |
Cash flow for the year, continuing operations | 2,113.8 | –279.8 | –136.5 | 995.0 |
Cash flow for the year, discontinued operations | – | – | – | – |
Cash flow for the year, all operations | 2,113.8 | –279.8 | –136.5 | 995.0 |
Capital employed and financing 2007

MSEK | March 31, 2007 | June 30, 2007 | September 30, 2007 | December 31, 2007 |
Operating capital employed, continuing operations | 5,241.6 | 5,143.3 | 5,545.2 | 4,171.0 |
Operating capital employed as % of sales, continuing operations | 8 | 8 | 9 | 7 |
Return on operating capital employed, continuing operations | 32 | 35 | 34 | 56 |
Goodwill, continuing operations | 14,423.0 | 14,228.9 | 13,635.2 | 13,793.5 |
Acquisition related intangible assets, continuing operations | 469.9 | 540.0 | 534.1 | 624.0 |
Shares in associated companies, continuing operations | 178.8 | – | – | 103.5 |
Capital employed, continuing operations | 20,313.3 | 19,912.2 | 19,714.5 | 18,692.0 |
Return on capital employed, continuing operations % | 8 | 9 | 9 | 13 |
Capital employed, discontinued operations | – | – | – | – |
Capital employed, all operations | 20,313.3 | 19,912.2 | 19,714.5 | 18,692.0 |
Net debt, all operations | –9,885.5 | –10,662.8 | –10,812.8 | –9,878.0 |
Shareholders' equity, all operations | 10,427.8 | 9,249.4 | 8,901.7 | 8,814.0 |
Net debt equity ratio/multiple, all operations | 0.95 | 1.15 | 1.21 | 1.12 |
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Statement of income 2006

MSEK | Q1 2006 | Q2 2006 | Q3 2006 | Q4 2006 |
Continuing operations | ||||
Sales | 14,804.1 | 14,801.2 | 15,076.8 | 14,870.4 |
Sales, acquired business | 143.8 | 224.4 | 292.7 | 309.6 |
Total sales | 14,947.9 | 15,025.6 | 15,369.5 | 15,180.0 |
Organic sales growth, % | 5 | 6 | 6 | 5 |
Production expenses | –12,144.6 | –12,245.0 | –12,481.5 | –12,158.7 |
Gross income | 2,803.3 | 2,780.6 | 2,888.0 | 3,021.3 |
Selling and administrative expenses | –1,994.3 | –1,951.2 | –1,931.1 | –2,030.4 |
Other operating income | – | – | – | 4.9 |
Share in income of associated companies | – | – | – | – |
Operating income before amortization | 809.0 | 829.4 | 956.9 | 995.8 |
Operating margin, % | 5.4 | 5.5 | 6.2 | 6.6 |
Amortization and impairment of acquisition related intangible assets | –23.6 | –23.2 | –25.3 | –21.2 |
Acquisition related restructuring costs | –0.2 | –0.1 | –0.2 | 0.1 |
Items affecting comparability | –10.0 | –389.0 | –158.3 | –1,502.9 |
Operating income after amortization | 775.2 | 417.1 | 773.1 | –528.2 |
Financial income and expense | –119.3 | –151.0 | –126.3 | –123.2 |
Revaluation of financial instruments | –1.8 | –8.2 | –17.8 | –8.0 |
Share in income of associated companies | 0.4 | 0.3 | 0.4 | 0.1 |
Income before taxes | 654.5 | 258.2 | 629.4 | –659.3 |
Net margin, % | 4.4 | 1.7 | 4.1 | –4.3 |
Current taxes | –165.4 | –154.3 | –160.3 | –210.7 |
Deferred taxes | –37.9 | 74.1 | –35.2 | 320.4 |
Net income for the year, continuing operations | 451.2 | 178.0 | 433.9 | –549.6 |
Net income for the year, discontinued operations | 154.5 | 116.4 | 67.6 | – |
Net income for the year, all operations | 605.7 | 294.4 | 501.5 | –549.6 |

Whereof attributable to: | ||||
Equity holders of the Parent Company | 605.4 | 292.9 | 501.7 | –549.6 |
Minority interests | 0.3 | 1.5 | –0.2 | 0.0 |

Earnings per share before dilution, continuing operations (SEK) | 1.24 | 0.48 | 1.19 | –1.50 |
Earnings per share before dilution, discontinued operations (SEK) | 0.42 | 0.32 | 0.18 | – |
Earnings per share before dilution, all operations (SEK) | 1.66 | 0.80 | 1.37 | –1.50 |

Earnings per share after dilution, continuing operations (SEK) | 1.23 | 0.48 | 1.17 | –1.50 |
Earnings per share after dilution, discontinued operations (SEK) | 0.41 | 0.31 | 0.18 | – |
Earnings per share after dilution, all operations (SEK) | 1.64 | 0.79 | 1.35 | –1.50 |
Statement of cash flow 2006

MSEK | Q1 2006 | Q2 2006 | Q3 2006 | Q4 2006 |
Continuing operations | ||||
Operating activities | ||||
Operating income before amortization | 809.0 | 829.4 | 956.9 | 995.8 |
Investments in fixed assets | –342.7 | –411.7 | –336.7 | –420.7 |
Reversal of depreciation and impairment losses | 368.0 | 370.4 | 408.2 | 331.3 |
Change in accounts receivable | –188.7 | –164.9 | –774.2 | 425.2 |
Change in other operating capital employed | –697.0 | 127.4 | 702.4 | 77.7 |
Cash flow from operating activities | –51.4 | 750.6 | 956.6 | 1,409.3 |
Cash flow from operating activities, % | –6 | 90 | 100 | 142 |
Financial income and expenses paid | –114.5 | –144.5 | –123.0 | –134.1 |
Current taxes paid | –90.1 | –249.0 | –156.8 | –273.1 |
Free cash flow | –256.0 | 357.1 | 676.8 | 1,002.1 |
Free cash flow, % | –49 | 68 | 101 | 151 |
Cash Flow from investment activities, acquisitions | –39.7 | –202.6 | –32.8 | –86.1 |
Cash flow for items affecting comparability | – | – | –102.2 | –27.1 |
Cash flow from financing activities | 849.3 | –1,421.9 | 3,125.3 | –3,659.0 |
Cash flow for the year, continuing operations | 553.6 | –1,267.4 | 3,667.1 | –2,770.1 |
Cash flow for the year, discontinued operations | 847.6 | –371.4 | –1,727.2 | – |
Cash flow for the year, all operations | 1,401.2 | –1,638.8 | 1,939.9 | –2,770.1 |
Capital employed and financing 2006

MSEK | March 31, 2006 | June 30, 2006 | September 30, 2006 | December 31, 2006 |
Operating capital employed, continuing operations | 6,651.8 | 6,337.7 | 6,512.4 | 4,669.2 |
Operating capital employed as % of sales, continuing operations | 11 | 10 | 11 | 8 |
Return on operating capital employed, continuing operations | 54 | 49 | 47 | 29 |
Goodwill, continuing operations | 15,195.2 | 14,544.9 | 14,692.9 | 14,031.6 |
Acquisition related intangible assets, continuing operations | 354.5 | 414.3 | 446.1 | 464.2 |
Shares in associated companies, continuing operations | 179.5 | 176.0 | 177.2 | 172.7 |
Capital employed, continuing operations | 22,381.0 | 21,472.9 | 21,828.6 | 19,337.7 |
Return on capital employed, continuing operations % | 15 | 14 | 13 | 8 |
Capital employed, discontinued operations | 4,837.2 | 4,980.6 | – | – |
Capital employed, all operations | 27,218.2 | 26,453.5 | 21,828.6 | 19,337.7 |
Net debt, all operations | –11,961.9 | –12,829.7 | –10,992.8 | –9,734.6 |
Shareholders' equity, all operations | 15,256.3 | 13,623.8 | 10,835.8 | 9,603.1 |
Net debt equity ratio/multiple, all operations | 0.78 | 0.94 | 1.01 | 1.01 |