Gunnebo AB: Report from Annual General Meeting

GOTEBORG, Sweden, April 26, 2002 (PRIMEZONE) -- Gunnebo AB:


The ordinary Annual General Meeting on April 25, 2002, determined a dividend to shareholders of 3:50 SEK per share (dividends for the previous year were 4:25 SEK, including a bonus of 1:00 SEK). The reconciliation day for dividends was established as April 30, 2002, and dividends are estimated to be paid via VPC on May 6, 2002.


Roger Holtback, Rolf Ekedahl, Nils-Olov Jonsson, Sten Langenius, Per- Henrik Berthelius and Bjarne Holmqvist were re-elected as ordinary members of the Board. Mikael Jonsson, previously deputy Board member, was newly elected.

Roger Holtback was elected chairman at the statutory meeting of the Board.

Decision on empowerment

The General Meeting voted to empower the Board to take a decision for the time of the next Annual General Meeting concerning a new issue of shares in an amount of a maximum of 600,000 shares to be used in cases of company acquisition.

Personnel options

The Annual General Meeting voted to approve the proposal of a personnel option program for management leaders in the Gunnebo group.

Abstract from the President's address to the AGM

Bjarne Holmqvist, CEO and president, Gunnebo AB, commented on the first quarter:

The result for the first quarter better than plan. For 2002 as a whole the profit after financial items is expected to be significantly better than the result for 2001.

Gunnebo's first quarter results always show a seasonal low. Profits in the first quarter of 2002 after financial items were 10 MSEK (17). Invoices increased by 14% to 1 603 MSEK (1 406) and operating results before goodwill depreciations increased by 9% to 48 MSEK (44). Gunnebo Security showed a continued improvement in results to 44 MSEK (34), an increase of 29% Orders for the period exceeded invoicing by 9% and the operative cash flow, which is also normally low during the first quarter, improved by 35 MSEK to - 14 MSEK. The prognosis for 2002 remains - we estimate today that the group's profit after financial items will be significantly better than the result for 2001."

Bjarne Holmqvist also commented upon the important restructuring program that is following set time and cost frames, profits during the previous year, acquisitions, and priorities for the coming year: improvements in profitability, investments in product and market development and continued strong growth.

Goteborg April 25, 2002

GUNNEBO AB Information

For further information contact:

Bjarne Holmqvist, President and CEO, Gunnebo AB, tel. 031-83 68 00/
1908-40 03 70 or Lennart Gustavsson, CFO, Gunnebo AB, tel 031-83 68 00/
0705-93 40 80 or Janerik Dimming, Director of information Gunnebo AB,
tel. 031-83 68 03/ 0705-83 68 03/e-mail

Gunnebo is today a fast-growing international security group with 100 subsidiary companies located in 30 countries. The Group has sales to a further hundred markets via agents and distributors. Annual turnover amounts to some MSEK 7,000. Gunnebo's security business comprises mainly burglar- and fire-resistant safes, security products for banks and cash- handling, electronic security, fire protection, access control and entrance control, alarm centres, outdoor and indoor perimeter protection.

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