GN Store Nord: Q2 Earnings Release/2003

COPENHAGEN, Denmark, Aug. 21, 2003 (PRIMEZONE) -- GN Store Nord (OtherOTC:GGNDF):

Revenue increased to DKK 1,148 million from DKK 1,141 million in Q1 2003. In Q2 2002, revenue from the existing business areas was DKK 1,170 million. Organic growth was 12% relative to Q2 2002.

EBITA improved by DKK 18 million to DKK 130 million in Q2 2003. The Q2 2002 EBITA was DKK 80 million. Implemented rationalization measures were the main drivers of the im-provement.

Profit before tax was DKK 33 million against DKK 24 million in Q1 2003 and a loss of DKK 30 million in Q2 2002.

Cash flows from operations were DKK 78 million against DKK 132 million in Q1 2003 and DKK 55 million in Q2 2002.