4/29/2003, 2:45 PM (Source: GlobeNewswire)

* Pretax loss of SEK 17.3 m reported (corresponding period of the
preceding year: loss of 26.1).

* Earnings include charge of SEK 5.1 m (charge: 11.7) for goodwill

This is Skanditek

Skanditek is an industrial holding company with investments in
Swedish companies. The Company's business concept is to be an active,
long-term owner. As a result, Skanditek is able to contribute to the
development of its portfolio companies by providing industrial and
financial expertise at Board and management level.

The portfolio companies are active in the electronics, information
technology, biotechnology and service sectors. Investments are mainly
made at a relatively early stage of the target companies'
development, since this is when Skanditek can contribute
business-development experience aimed at high growth, research and
development and internationalization.

Investment operations

During the first quarter, SEK 0.6 m was invested in newly formed
45/55 Greater Return on Marketing Investments AB. Skanditek's
ownership share is 45.0 percent.

A capital contribution of SEK 2.0 m was granted to Phonepages of
Sweden. Skanditek's ownership share is 14.9 percent.

Aptilo Networks received a shareholder contribution of SEK 2.5 m. .
Skanditek's ownership share is 17.3 percent.

Investments in portfolio companies during the period amounted to SEK
6.3 m (3.4).

VS Market was divested during the period, with no impact on
consolidated earnings.

The result of divestments of portfolio companies during the period
was SEK 0 m.

The Group's net investments in tangible fixed assets amounted to SEK
0.3 m (0.4).

Net sales and earnings

Consolidated net sales totaled SEK 127.5 m (138.6).

The Group reported a pretax loss of SEK 17.3 m (loss: 26.1.1). Profit
was charged with goodwill amortization and the reversal of negative
goodwill in a net amount of SEK 5.1 m (net charge: 11.7). Group
companies accounted for SEK 4.8 m (4.7) and associated companies for
SEK 0.3 m (7.0) of the amortization total. The latter amount is
included in "Shares in earnings of associated companies before tax."
Skanditek's principle is to amortize goodwill over five years.

The consolidated net loss amounted to SEK 14.7 m (loss: 24.0),
resulting in a loss per share of SEK 0.25 (loss: 0.41).

Since Skanditek has the character of an industrial holding company,
analyses of the financial statements should be conducted with
caution. Skanditek's composition in terms of Group and associated
companies varies over time in line with changes in Skanditek's
ownership shares in the portfolio companies.

Financial position

At the end of the period, the Group's liquid funds totaled SEK 41.0 m
(110.3). In addition, there were short-term investments in the form
of investments in mutual funds and publicly traded shares with a
market value of SEK 34.5 m (50.9). Interest-bearing liabilities
amounted to SEK 12.7 m (0).

Liquid funds available for investment activities (excluding portfolio
companies within the Group) amounted to SEK 19.5 m (71.1) and
short-term investments to SEK 34.5 m (50.9). There were no
interest-bearing liabilities (0).

The equity/assets ratio in the Group was 63 percent (71).

Shareholders' equity corresponded to SEK 7.90 (11.21) per share.

Listed portfolio companies

At the end of the period, the market value of the Group's
shareholdings in listed portfolio companies was SEK 334.4 m,
corresponding to SEK 5.76 per share. On April 28, 2003, the
corresponding values were SEK 310.1 m and SEK 5.34 per share,

The book value of the corresponding holdings at March 31 was SEK
245.6 m, or SEK 4.23 per share.
Performance of portfolio companies

Skanditek's share of the portfolio companies' net sales, calculated
as the ownership share multiplied by the individual companies' net
sales during the period when the companies were owned by Skanditek,
amounted to SEK 223.6 m (238.5).

Skanditek's share of the portfolio companies' operating profit/loss
amounted to a loss of SEK 11.1 m (loss: 11.2).

LGP Telecom is exckluded i above mentioned figures. LGP Žs interim
report are not realeased.

Axis's net sales amounted to SEK 152.6 m (164.0). Currency movements
had a negative impact of SEK 18 m on sales during the period.
Continued healthy growth was noted in the video product area, with
sales rising by 18 percent compared with the year-earlier period.
Video accounts for 52 percent of the company's total sales, making it
the largest product area, and is estimated to have long-term growth
potential. Operating profit for the period amounted to SEK 0.6 m
(profit: 10.7). Cash flow from continuing operations was negative in
an amount of SEK 0.7 m (pos: 5.4). Ray Mauritsson became new
president in February, succeeding Peter Ragnarsson.

CMA Microdialysis net sales amounted to SEK 13.2 m (16.7). An
operating loss of SEK 4.3 m (loss: 1.2) was reported for the period.
The weaker operating result was due to the fact that the expected
sales growth did not materialize and to considerable marketing costs.

LGP Telecom's public offer to shareholders of Allgon AB (publ) has
been accepted by shareholders representing 94.2 percent of the share
capital. LGP will request the compulsory redemption of the remaining

Jointly, the two companies will constitute a significant player in
the market for mobile telecommunications equipment, with particularly
strong positions in Europe, North America and Asia. The new group
will have annual sales of about SEK 2.5 billion, with approximately
1,500 employees in 13 countries.

MYDATA automation's net sales during the period amounted to SEK 114.3
m (121.9). An operating loss of SEK 7.5 m (loss: 8.3) was reported.
MYDATA automation was severely affected by weaker demand in the
market for equipment for the electronics industry. Order bookings
remained low. Mydata maintained the same level of investment in
research and development during the period, namely 20 percent (16) of
sales, for which SEK 23.2 m was charged against first-quarter

PartnerTech's net sales during the period amounted to SEK 320.2 m
(334.2). The acquisition of SAAB Bofors Dynamics in Karlskoga
accounted for SEK 39.9 m of sales. For comparable units, total volume
during the period decreased by 16 percent. The Telecom/Infrastructure
business area noted the largest decrease in volume. An operating loss
of SEK 12.9 m (loss: 21.1) was reported. Cash flow from continuing
operations amounted to SEK 27.6 m (54.4). It is estimated that the
market remains weak.

Vitrolife's net sales amounted to SEK 25.9 m (32.8). Sales within
core operations rose by 18 percent to SEK 25.9 m (22.0). An operating
loss of SEK 2.2 m (loss: 4.0) was reported. Vitrolife's gross margin
improved significantly following the savings and restructuring
program implemented around year-end. The work aimed at focusing on
the core operations of fertility and transplantation systems has
proceeded well. Cash flow from continuing operations was negative in
an amount of SEK 5.5 m (pos: 1.6).

Parent Company

The Parent Company's net sales during the period amounted to SEK 0 m
(0). A pretax loss of SEK 2.5 m (loss: 2.9) was reported, which
mainly resulted from dividend payments and expenses for management

The Parent Company's investments in portfolio companies totaled SEK
5.1 m (0). There were no investments in tangible fixed assets (0.0).

Liquid funds at the end of the period totaled SEK 2.2 m (beginning of
the year: 4.8). In addition, the Parent Company had short-term
investments in mutual funds and publicly traded shares with a market
value of SEK 18.1 m (beginning of the year: 19.0). There were no
interest-bearing liabilities (0).

The equity/assets ratio was 96 percent (98).

Accounting principles

This interim report has been prepared in accordance with Sweden's
Annual Accounts Act and the Financial Accounting Standards Council's
recommendations. The accounting and calculation principles used in
the most recent annual report, plus the Financial Accounting
Standards Council's recommendations that became effective on January
1, 2003, have been applied in this interim report.


This interim report has not been examined specifically by the
Company's auditors.

Forthcoming financial reports

The scheduled publication dates for interim reports during 2003 are
as follows:

Second quarter: August 14
Third quarter: October 23

Interim reports and press releases are published in Swedish and

Stockholm, April 29, 2003


Patrik Tigerschiöld
President and Chief Executive Officer

The full report including tables can be downloaded from the enclosed
View document
For further information, please contact:

Patrik Tigerschiöld,
Telephone +46-8-614 00 20,
mobile phone +46-70-777 71 90,

Jonas Alfredson,
Financial Manager,
Telephone +46-8-614 00 29,
mobile phone +46-733-904 912,
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