Despite decreasing sales volumes, FlexLink managed to improve operational profitability.
The EBITA margin increased and a strong cash flow and liquidity were maintained.
Order intake increased during the second quarter by 31% as compared with the first quarter, and by 55% as compared with the fourth quarter 2001.

In April, FPS, (Flexible Production Systems), was acquired from Finnish GWS Systems Oy.
For the food industry, a totally new hygienic conveyor was launched, as well as new products for the electronic industry.

Given the increased order intake during the second quarter, a carefully optimistic view is taken as regards the development of the result during the second half of the year.

• Net sales amounted to MSEK 544 (666). Earnings before interest, taxes and amortization of goodwill (EBITA) amounted to MSEK 70 (76). The EBITA margin increased to 13% (11%).
• Operating income (EBIT) amounted to MSEK 36 (47). Earnings before tax amounted toMSEK -17 (41), and net income to -14 (19). The change in earnings is primarily attributed to exchange losses during the period, amounting to MSEK 39 (+22). The majority of the exchange losses are unrealized.
• The debt/equity ratio amounted to 1.5 (1.6), compared to 1.5 at the end of 2001. At the end of the period the equity ratio was 30% (28%), compared with 30% at the end of 2001.
• The liquid ratio improved to 77% (72%), compared with 71% at the end of 2001. 

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 MSEK 1,290. 

Göteborg, August 14, 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. 
+46-31-337 3100
Fax +46-31-337 2233