Continued sales increase in a weaker market

Download the report in full:
Nobia Q2 2008

Nobia's sales during the second quarter of 2008 amounted to SEK 4,477
million (4,333). Profit after tax amounted to SEK 274 million (306).
Organic growth was 7 per cent. Earnings per share amounted to SEK
1.62 (1.74) after dilution.

Operating profit for the quarter amounted to SEK 421 million (447)
and the operating margin was 9.4 per cent (10.3). Exchange-rate
effects had a negative impact on operating profit for the period.

Several of Nobia's primary markets reported decreased activity. This
was most clearly observed in the UK and France, and in demand for new
builds in the Nordic region.

Comments from the CEO"Although earnings in Continental Europe were weak, we achieved an
overall satisfactory result in a weaker market, with a continuing
strengthened position in the UK and favourable development in the
Nordic region. New store establishments occurred at a calmer rate
during the period. We are following market trends in our primary
markets and adjusting our capacity accordingly. The ongoing merger of
business units in Norway and Sweden is proceeding according to plan
and enhancing the efficiency of our product line co-ordination and
contributing to lower costs," says President and CEO Preben Bager.