During the first quarter, the positive trend from the fourth quarter of 2004 continued, and order intake and sales increased significantly over the same period last year by 18% and 9% respectively. The orders were placed by a variety of industries, with particular growth for Fast Moving Consumer Goods and Assembly Automation applications. Orders received in Asia more than doubled as compared with the first quarter of 2004, whereas Europe still remained on the same level.

• Net sales amounted to MSEK 247 (226).
• Earnings before interest, taxes and amortisation of goodwill (EBITA) amounted to MSEK 21 (22). The EBITA margin was 9% (10%).
• Operating income (EBIT) amounted to MSEK 18 (4). Earnings before tax amounted to MSEK 13 (-5) and net income to MSEK 11 (-6). 
• The debt/equity ratio amounted to 1.2 (1.5) and the equity ratio was 32% (30%).
• Inventories were 5% (4%) of net sales.
        

FlexLink is a leading global supplier of innovative automation solutions to assembly and manufacturing industries. FlexLink, based in Göteborg, Sweden employs 540 people in 25 companies and is represented in 50 countries. In 2004, group turnover was MSEK 1,137.

Göteborg, April 21, 2005

FlexLink AB