Interim report January-March 2009

Interim report January-March 2009

• Inflow of orders: SEK 2,219 million (2,381)
• Net sales: SEK 2,138 million (2,049)
• Operating earnings: SEK 61 million (90)
• Net earnings: SEK 24 million (56)
• Cash flow from operating activities after tax: SEK 366 million (46)
• Earnings per share: SEK 0.87 (1.73)2)


President and CEO Peter Aru:
“The first quarter was challenging and the inflow of orders for new products
decreased in all markets. Demand fell in all divisions, but the service trend
had a positive effect, particularly on the Group's largest division Door &
Logistics Solutions. During the quarter, there was an increase in price
competition in the market. At the end of the period, there was some
stabilization in the demand pattern, but at a lower level. There remains
uncertainty concerning the trend in the various markets going forward.
Operations were adapted to the prevailing market situation on an ongoing basis.”


Results - complete report 
Please see the enclosed pdf document for the complete report where all tables
and summaries are found. 
The report is available at www.cardo.com


First quarter 2009
During the first quarter, the inflow of orders amounted to SEK 2,219 million,
(2,381), down 17% after adjustment for the effects of exchange rate movements.
The inflow of orders decreased in all divisions, and there was a fall in demand
in Europe with the greatest decline in eastern Europe. Service continues to show
a good trend.

Net sales amounted to SEK 2,138 million (2,049), down 7% adjusted for the
effects of exchange rate movements. 

Operating earnings amounted to SEK 61 million (90). 

Invitation to conference call on May 8, 10.00 a.m.
Cardo's President and CEO Peter Aru will comment on the interim report during a
conference call today at 10.00 a.m. It will be possible to take part and ask
questions via telephone number +46 (0)8 505 137 85. The conference may also be
followed via a webcast at www.cardo.com or www.financialhearings.com, where you
will also be able to listen and see the presentation slides afterwards. The
conference will be held in Swedish. 


Financial calendar 2009
August 13, Interim Report January - June 2009 
November 13, Interim Report January - September 2009 


For further information, please contact:
Peter Aru, President and CEO, tel +46 10 47 47 401
Ulf Liljedahl, CFO, tel +46 10 47 47 402
Maria Bergving, SVP Communications & Investor Relations, 
tel +46 10 47 47 405, maria.bergving@cardo.com


Cardo is a world-leading supplier of industrial doors and logistics systems,
wastewater treatment systems, process equipment for the pulp and paper industry
and garage doors. With sales of slightly less than SEK 10 billion and almost
6,000 employees worldwide, Cardo delivers solutions that help to solve some the
toughest challenges of our time in the fields of water, transportation and
energy. Corporate headquarters are located in Malmö, Sweden.