INTERIM REPORT JANUARY - MARCH 2008-05-09

INTERIM REPORT JANUARY - MARCH 2008-05-09

INFLOW OF ORDERS IN LINE WITH PREVIOUS YEAR

• Inflow of orders: SEK 2,440 million (2,410)
• Net sales: SEK 2,101 million (2,079)
• Operating earnings: SEK 85 million (18)
• Net earnings: SEK 52 million (0)
• Net earnings per share: SEK 1.73 (0)


The first quarter shows an inflow of orders and net sales in line with the
previous year. The corresponding quarter of 2007 was very strong with an
increase in the inflow of orders of 18%. The inflow of orders in Asia-Pacific
and in eastern Europe and Scandinavia remained good. Service saw a positive
trend in all B2B divisions. 

In order to strengthen the margins, price rises continued to be implemented
during the quarter, principally in Door & Logistics Solutions. Operating
earnings were affected by the weak US dollar in the sum of SEK -8 million.

After having evaluated a number of alternatives for the disposal of Residential
Garage Doors, Cardo has decided to keep the division.

RESULTS - COMPLETE REPORT 
Please see the enclosed pdf document for the complete report where all tables
and summaries can be found. The report is also available at www.cardo.com

INFLOW OF ORDERS, NET SALES AND EARNINGS 
First quarter 2008 
During the first quarter, the inflow of orders amounted to SEK 2,440 million
(2,410), up 1% after adjustment for the effects of exchange rate movements. The
inflow of orders rose in all divisions except for Door & Logistics Solutions.

Net sales amounted to SEK 2,101 million (2,079), which is unchanged compared
with the previous year after adjustment for the effects of exchange rate
movements.
Operating earnings were affected by the weak US dollar in the sum of SEK -8
million. High prices of raw materials, principally in the Door & Logistics
Solutions division, and a lower volume and changed product mix in Pulp & Paper
Solutions also had an effect on operating earnings. 

REVIEW OF COMMITMENT TO RESIDENTIAL GARAGE DOORS
During 2006 and 2007, a comprehensive and successful process was carried out to
reverse the negative trend for Residential Garage Doors. During 2007, operating
earnings rose from SEK 16 million to SEK 31 million. After having evaluated a
number of alternatives for disposal, Cardo has decided to keep the division. 

CHANGED SALES ORGANIZATION FOR PULP & PAPER SOLUTIONS IN ASIA
From the first of January 2008, the operation of the Pulp & Paper Solutions
division in Asia in respect of Scanpump has been included in the Wastewater
Technology Solutions division. This involves a change in the reporting of net
sales and operating earnings by division. Comparative figures in the interim
report have been adjusted so as to be in accordance with the new organization.
Lorentzen & Wettre's operation in Asia remains part of Pulp & Paper Solutions.
Further comparative figures can be found on Cardo's website at www.cardo.com.

Invitation to conference call today, May 9, at 1.00 p.m.
Cardo's President and CEO Peter Aru will comment on the interim report during a
conference call today at 1.00 p.m. It will be possible to take part and ask
questions via telephone number +46 (0)8 535 264 58. The conference may also be
followed via a webcast at www.cardo.com or www.financialhearings.com. Here you
will also be able to listen and see the presentation slides afterwards. The
conference will be held in Swedish.

Calendar 2008
August 13 - Interim Report January - June
November 12 - Interim Report January - September
February 5 2009 - Report on Operations 2008


For further information, please contact:
Peter Aru, President and CEO, tel +46 40 35 04 53
Ulf Liljedahl, CFO, tel +46 40 35 04 42
Maria Bergving, Senior Vice President Communications & Investor Relations, tel
+46 40 35 04 25, 
+46 70 602 61 81, maria.bergving@cardo.com

Cardo is an international industrial group with leading brands, offering
solutions with quality products, a high level of service and great applications
know-how to industrial customers. Operations are pursued in the Group's
divisions: Door & Logistics Solutions, Wastewater Technology Solutions, Pulp &
Paper Solutions and Residential Garage Doors, which all enjoy strong positions
in their respective markets. The Group has approximately 6,000 employees in more
than 30 countries and sales of approximately SEK 9.5 billion. Corporate
headquarters are located in Malmö, Sweden.