Orders received increased by 3% compared with the same period last year. Significant orders were received from food and optical industries. Net sales were MSEK 99 lower compared with the same period 2002, mainly due to changes in the currency exchange rates and lower sales in the USA. A positive development of the earnings is expected for the fourth quarter of 2003.

• Net sales amounted to MSEK 716 (815).
• Earnings before interest, taxes and amortization of goodwill (EBITA) amounted to MSEK 48 (104). The EBITA margin was 7% (13%).
• Operating income (EBIT) amounted to MSEK -4 (54). Earnings before tax amounted to MSEK -46 (-3), and net income to -42 (-7). 
• The debt/equity ratio amounted to 1.5 (1.4), compared to 1.4 at the end of 2002. At the end of the period the equity ratio was 29% (31%), compared to 32% at the end of 2002.
• Inventories were kept at 4% (4%) of net sales.   

FlexLink started in 1980 and is a leading global supplier of innovative automation solutions to assembly and manufacturing industries. FlexLink, based in Göteborg, Sweden employs 550 people in 25 companies and is represented in 50 countries. In 2002, group turnover was MSEK 1,152. 

Göteborg, October 15, 2003

FlexLink AB