STOCKHOLM, Sweden, May 7, 2002 (PRIMEZONE) --Framtidsfabriken AB (publ) Interim report January 1 - March 31, 2002.
* Framfab shows operating profit before restructuring costs for the second consecutive quarter.The profit was SEK 0.1 million (-1,049.2) compared to 2.8 million for the fourth quarter of 2001.A restructuring provision of SEK -8.8 million has been recorded in the quarter, chiefly for measures taken in France. Operating loss (EBIT) after restructuring provisions was SEK -8.7 million (-1,545.5). Profit after financial items before restructuring costs for the period was 2.4 million (-1,433.3) and Loss after financial items and restructuring costs (EBT) was SEK -6.4 million (-1,929.6). * Liquid funds ended the quarter at SEK 96.4 million. Cash flow from operating activities amounted to SEK -15.3 million (-196.2) for the period, compared to SEK -23.4 million for the fourth quarter of 2001. * Thus far in 2002, Framfab has entered into a number of new long- term contracts with major organizations including Avanturo and HDI in Germany, Blumenburo and the TV channel BNN in the Netherlands as well as Clarins in France. * In the first quarter, the board appointed Anders Ekman CEO and Christian Luiga CFO for the Company. Both assumed their positions in April 2002. * Due to the uncertain market situation, the future is difficult to forecast. It is currently difficult to predict whether the second quarter revenue will exceed the first quarter. Positive cash flow will be reached later than in the second quarter as previously forecasted. The Board confirms that the Company's cash balance is satisfactory for the ongoing operation. Framfab is cautiously assessing possible growth opportunities for the second half of the year. Framfab continues to attract new customers in all of its markets and is well positioned in the industry to take advantage of a possible upswing in the market.
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Framfab is a leading supplier of consulting services and business solutions based on Internet technologies. Our clients consists primarily of major multinational corporations, such as 3M, AXA, Coca-Cola, Danske Bank, Electrolux, Ericsson, Hydro Texaco, IKEA, Kellogg's, Maersk Sealand, NEC Packard-Bell, Nike Europe/US/Asia Pacific, Observer, Postbank, Quelle Versicherungen, SAAB, Volvo Car Corporation, Volvo Group and UBS. Framfab has operations in Denmark, France, the Netherlands, Sweden and Germany. Framfab's shares (ticker FTID) are quoted on the O list of Stockholmsborsen, the stock exchange in Stockholm. For more information, please visit www.framfab.com.
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