Nobia: Earnings per share up 12 per cent

Sales for kitchen company nobia increased by 4 per cent during the
second quarter to SeK 4,464 million (4,288). organic growth amounted
to 6 per cent. Profit after tax totalled SeK 306 million (273).
Earnings per share increased by 12 per cent to SeK 1.74 (1.55) after
dilution.

Operating profit amounted to SEK 447 million (422) and the operating
margin was 10.0 per cent (9.8). The largest earnings improvement was
in the UK region.

Demand for kitchens remained favourable in all principal markets
except Germany. Higher prices for raw materials resulted in upward
pressure on purchasing costs.

Effective from the second quarter, the acquisition of German company
Plana is included in 50 per cent-owned Culinoma's accounts. After the
end of the period, Culinoma signed an agreement for the acquisition
of the majority holding in the German Marquardt Group.

Since the beginning of the year, a total of 17 new stores have been
opened by the Group. At the end of the second quarter, Nobia had a
total of 664 stores.

Comments from the CEO:"Although the Group's earnings have improved, earnings in the Nordic
region are unsatisfactory. Measures have been taken to resolve the
production problems. We are very pleased that we have succeeded in
completing another exciting German store acquisition, this time with
a unique concept, thereby creating a strong platform for further
organic growth in Germany. Furthermore, Nobia has also decided today
to increase the pace of store openings in the UK and France, as well
as entering Spain," says President and CEO Fredrik Cappelen.