• Sales amounted to MSEK 278 (318), a decrease of 13% compared to the same period previous year.
• Earnings before interest, taxes and amortisation of goodwill (EBITA) amounted to MSEK 34 (38), a decrease of 11%, however maintaining an EBITA margin of 12 % (12%).
• Operating income (EBIT) amounted to MSEK 18 (26). Earnings before tax amounted to MSEK -1 (26) and net income to MSEK -4 (13). The change in earnings is primarily attributed to an increase in the financial exchange losses of MSEK 15 as well as increased amortisation of goodwill of MSEK 4 and increased interest expense of MSEK 3, due to the acquisitions made in 2001.
• The debt/equity ratio amounted to 1.6 (1.7) compared to 1.5 at the end of 2001. At the end of the period the equity ratio was 31% (27%) compared to 30% at the end of 2001.
• The liquid ratio improved to 80% (68%) compared to 71% at the end of 2001.          

The decline in the business climate was foreseen at an early stage last year, and the sales level is a result of the low order intake during the second half of 2001. The cost level has been reduced accordingly and therefore the result for the quarter is in line with expectations.

The order intake from the electronics and telecom segment continues to be weak, whereas food, packaging and automotive segments continued to place orders on an ongoing basis complemented with new investment projects. 

Significant orders have been received from customers in the tissue paper industry in the USA and Europe. Breakthrough orders for newly launched products have been received from the beverage industry as well as aseptic applications for the food and dairy segment.

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 20 companies and is represented in 50 countries. In 2001, group turnover was 139 million Euro. 

Göteborg, April 29, 2002
FlexLink AB

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. 
Phone +46-31-337 3100
Fax +46-31-337 2233