• Sales increased by 35 % to MSEK 1,290 (954)
• Earnings before interest, taxes and amortisation of goodwill (EBITA) increased by 5% to MSEK 158 (150). Adjusted for restructuring costs of MSEK 6 and capitalised R&D of MSEK 10 (accounting change), EBITA amounted to MSEK 154, i.e. an increase by 3%. 
• Operating income (EBIT) amounted to MSEK 98 (110). Earnings before tax amounted to MSEK 61 (87) and net income to MSEK 35 (45). The change in earnings is primarily attributed to increased amortisation of goodwill and increased interest expense due to this year's acquisitions.
• The debt/equity ratio improved to 1.5 (1.9). At the end of the year the equity ratio was 30% (23%)
• Inventories remained at 4% (4%) of sales.
• Sales companies were established in Malaysia, Hungary, Spain, Belgium, and operations were resumed in Brazil.
• The Swedish IHT technology group was acquired from Ericsson. Two leading suppliers of printed circuit board handling equipment in the USA, Flexible Technologies Inc., and the PCT Group were acquired.   

2001 started in a very strong business environment. New products were well received and sales were significantly up in most of the geographical markets. By the second half the pace declined sharply and a re-structuring and cost reduction program was implemented. The effects of the actions were immediate, and showed full effect at the end of the year. 

The new acquisitions contributed to the sales growth by MSEK 97 or 10%. The acquired companies reinforce FlexLink’s position in the electronics and telecom products assembly market.

During the year, the company’s infrastructure was further developed and the acquisitions were integrated. Several product development programs were concluded, preparing for launch early 2002.

Göteborg, February 6, 2002

FlexLink started in 1980 as a division within SKF. In 1997, the company was acquired by Stockholm based EQT, and is a leading global supplier of innovative automation solutions to assembly and manufacturing industries. FlexLink, based in Göteborg, Sweden, employs 550 people in 20 companies and is represented in 50 countries. 

The annual report will be issued around March 15. The printed version will be forwarded on request to the address below, attn. M. Nilsson. 

For further information, please contact:

Fredrik Jönsson
CEO
+46-31-337 1626
+46-705-17 1626 

Mats Nilsson
Corporate Communication
+46-31-337 1220
+46-703-77 1220

FlexLink AB, 415 50 Göteborg. 
+46-31-337 3100
Fax +46-31-337 2233