Steady pace in a hesitant market.

After adjusting the operations to a lower sales volume, FlexLink managed to improve operational profitability. In the third quarter, cash flow was continually positive, and an increase of liquidity and a decrease of short-term liabilities has been achieved.
In the third quarter, order intake increased by 8% over the same period last year. An order for a larger system including the newly launched hygienic conveyor has been received for delivery early next year. In Sweden, the new PLM Factory concept was launched in September, resulting in considerable attention from the market.

• Net sales amounted to MSEK 815 (994).
• Earnings before interest, taxes and amortization of goodwill (EBITA) amounted to MSEK 104 (117). The EBITA margin amounted to 13% (12%).
• Operating income (EBIT) amounted to MSEK 54 (74). Earnings before tax amounted to MSEK -3 (49), and net income to -7 (28). The change in earnings is primarily attributed to exchange losses during the period, amounting to MSEK 33 (+15). The majority of the exchange losses are unrealised.
• The debt/equity ratio amounted to 1.4 (1.6) compared to 1.5 at the end of 2001. At the end of the period, the equity ratio was 31% (32%), compared to 30% at the end of 2001.
• The liquid ratio was 76% (73%), compared to 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 23 companies and is represented in 50 countries. In 2001, group turnover was MSEK 1,290. 

Göteborg, October 28, 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