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Specma GroupSwegon2010 2009 2010 2009(SEK m) Q4 Q4 12 mon 12 monNet sales 416 272 1,415 1,045EBITDA 28 -1 85 -24EBITA 20 -10 51 -61EBIT 20 -11 51 -642010 2009 2010 2009(SEK m) Q4 Q4 12 mon 12 m0nNet sales 673 503 2,153 2,081EBITDA 87 68 262 280EBITA 73 56 211 228EBIT 72 56 208 226EBITA % 4.8 -2.2 3.6 -5.8EBIT % 4.8 -4.0 3.6 -6.1EBITA % 10.8 11.2 9.8 11.0EBIT % 10.8 11.2 9.7 10.8Growth % 53.2 -28.2 35.4 -36.6Of which exchange effects -4.6 1.8 -2.8 2.2Of which acquisitions 5.2 0 4.3 0Growth % 33.8 -12.9 3.5 -10Of which exchange effects -7.8 1.4 -5.0 3.2Of which acquisitions 22.9 - 5.5 -Average number of employees 876 729 816 788Average number of employees 1,280 974 1,054 992Highlights fourth quarter• Continued increase in orders received and invoicing in thefourth quarter.• The market for OEM and Automotive is beginning to slowon a high level.• Increased orders received and invoicing in System whichreached its lowest point later in the business cycle.• Increasing growth in the After Sales market in the finalquarter.• Focus on controlling costs in order to achieve the full effectof the increase in volumes.Highlights fourth quarter• The interest in energy efficient solutions is rapidly increasingin European customers.• At the beginning of October Swegon acquired all theshares in Blue Box, an Italian chillers manufacturer with netsales of EUR 52 million and 250 employees.• Net sales was 19 % higher than last year adjusted forexchange effects and acquired units.• Positive trend for air treatment aggregates, both for commercialpremises and in housing.• Operating margin was influenced negatively by translationdifferences.• Future challenges are to continue winning market sharesoutside the Nordic region and integrating Blue Box in theSwegon Group.Allocation of net sales2010 2009 2010 2009(SEK m) Q4 Q4 12 mon 12 monOEM 160 81 557 350System 70 75 238 259After sales 76 50 263 214Automotive 110 66 357 222416 272 1,415 1,045Allocation of net sales2010 2009 2010 2009(SEK m) Q4 Q4 12 mon 12 monSweden 199 195 695 697Other in the Nordic Region 199 200 780 850Other in the world 275 108 714 534673 503 2,153 2,081Specma Group has operations in four divisions. The OEMdivision primarily serves customers in mobile hydraulics,System Division customers are active in marine industryand industrial hydraulics, After Sales Division is focusedon after sales customers and Automotive works withcustomers in the automotive industry.Swegon provides energy efficient air treatment aggregatesas well as air and water borne climate systems forall kinds of buildings. Swegon delivers well thought-outsystem solutions that create a good indoor climate, whichhighly contributes to saving energy.I N V E S T M E N T A B L A T O U R Y E A R - E N D R E P O R T 2 0 1 05