Press release; Jul 20, 2011 8:00 AM CET

Half Year Report January – June 2011


· Comparable sales1) for the second quarter increased by 3 percent to 2,944 MSEK (2,849) and by 11 percent in local currencies. Sales for the second quarter of 2010 including businesses transferred to STG amounted to 3,701 MSEK
· Comparable operating profit2) for the second quarter increased by 5 percent to 829 MSEK (793) and by 13 percent in local currencies
· Operating profit including businesses transferred to STG last year, share of net profit from STG and larger one time items3) for the second quarter amounted to 904 MSEK (945)
· EPS (basic) for the second quarter amounted to 2.94 SEK (2.78)

1)   Sales excluding businesses transferred to STG on October 1, 2010.

2)   Operating profit excluding businesses transferred to STG on October 1, 2010, share of net profit from STG and larger one time items.

3)   Larger one time items include reversals of amortizations and depreciations relating to assets held for sale in 2010.


For further information, please contact:
Lars Dahlgren, President and Chief Executive Officer
Office +46 8 658 0441, Mobile +46 70 958 0441
Joakim Tilly, Chief Financial Officer
Office +46 8 658 0213, Mobile +46 76 860 9597
Emmett Harrison, Senior Vice President Corporate Communications and Sustainability
Office +46 8 658 0173, Mobile +46 70 938 0173
Richard Flaherty, President US Division, US Investor Relations contact
Office +1 804 787 5130, Mobile +1 804 400 1774