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Interim Report January - June 2003

CEO Ray Mauritsson reviews Jan-Jun 2003, focusing on sales impact, market conditions, EBIT details, business development, sales by product group & region, technology evolution, revised financial targets, and outlook for 2003.

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Interim Report January - June 2003

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  1. Interim ReportJanuary - June 2003 CEO Ray Mauritsson

  2. Continued restrained market affects sales

  3. Financial Performance • Net sales: SEK 305 M (335) • Currency effects impacted negatively: SEK 40 M • Operating loss: SEK -4 M (18)

  4. Sales by quarter Q2: Restrained market conditions Continued growth in Video Weak development within Print, Scan & Store Mkr 180 160 140 Other 120 100 80 60 Video 40 20 0 Q1 Q3 Q4 Q1 Q2 Q2 2003 2002

  5. EBIT by quarter Q2: • Gross margin: 52.8% (56.6) • Operating margin: -2.8% (4.4) • Profit margin:-0.4% (5.4)

  6. Business development Q2 • Continued growth for Video • New agreements in prioritized segments • Additional developer partners; total 145 • Aggressive product road map

  7. Sales Q2 Sales by Product Group Sales by Region Access and other 3% Scan & Store 4% Asia 24% Print 38% 55% Video 49% EMEA 27% Americas

  8. A growing Video market • Global market leader • A base of more than 200,000 units installed • Significant growth potential • Growing interest in surveillance and security • Shift from analog to digital solutions • New technical possibilities

  9. Technology evolution Three stages: 1. CCTV: analog 2. DVR: digital capture 3. IP: digital networking 3. IP: digital networking CCTV IP DVR 2000 2005 2010

  10. Revised financial targets A growth target of 30 percent in sales and a pre-tax profit margin of 10-15 percent by 2005 at the latest.

  11. Outlook 2003 • Weak IT investments • Unchanged long term growth potential for Video • Goal of positive operating result for the full year 2003

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