INTERIM REPORT JANUARY - JUNE 2008

INTERIM REPORT JANUARY -  JUNE 2008

CONTINUED GROWTH 
• Inflow of orders: SEK 5,075 million (4,835)
• Net sales: SEK 4,530 million (4,390)
• Operating earnings: SEK 283 million (192)
• Net earnings: SEK 178 million (117)
• Net earnings per share: SEK 5.95 (3.87)


Cardo shows continued growth for the half-year 2008. After an inflow of orders
in the first quarter in line with a strong first quarter the previous year, the
second quarter saw the inflow of orders improve again. The inflow of orders was
particularly good within the divisions Wastewater Technology Solutions and Pulp& Paper Solutions. For Asia-Pacific, the inflow of orders was very satisfactory
with an especially good trend in Australia.

The service operation continues to enjoy a good trend. Price rises implemented
within the Group's door divisions had an effect during the period.

Operating earnings were affected by the weak US dollar in the sum of SEK -13
million.

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 
Second quarter 2008 
During the second quarter, the inflow of orders amounted to SEK 2,634 million
(2,426), up 9% after adjustment for the effects of exchange rate movements. The
inflow of orders rose in all divisions. Implemented price rises had an effect
during the quarter.
Net sales amounted to SEK 2,429 million (2,311), up 6% after adjustment for the
effects of exchange rate movements. Operating earnings amounted to SEK 197
million (173). Operating earnings were affected by the weak US dollar in the sum
of SEK -5 million. 

Period January - June 2008
During the first half-year, the inflow of orders amounted to SEK 5,075 million
(4,835), up 5% after adjustment for the effects of exchange rate movements. The
first half-year shows good growth in most regions with a particularly strong
trend in Asia-Pacific. Latin America shows a decline in comparison with the
strong first half-year of the previous year as a consequence of fewer project
orders within Pulp & Paper Solutions.
Net sales amounted to SEK 4,530 million (4,390), up 3% after adjustment for the
effects of exchange rate movements. Operating earnings improved to SEK 283
million (275, excluding restructuring costs). Operating earnings were affected
by the weak US dollar in the sum of SEK -13 million.
Net earnings amounted to SEK 178 million (117), which is equivalent to SEK 5.95
(3.87) per share.
Cash flow from operating activities was SEK 213 million (134) after tax, which
is equivalent to SEK 7.11 (4.47) per share. 

ACQUISITION
July, after the end of the period, saw the acquisition of the Finnish company
Kajaani Process Measurements Oy (KPM), which is one of Finland's leading
manufacturers of sophisticated measuring instruments for the pulp and paper
industry. KPM has ten employees and sales of approximately SEK 20 million. KPM,
which was founded in 2001, runs an operation in Kajaani in northern Finland. The
acquisition was realized at an enterprise value of approximately SEK 36 million.
The acquisition, which is expected to have a marginally positive effect on
Cardo's earnings during 2008, will be included in Cardo's division Pulp & Paper
Solutions.

REPURCHASE OF SHARES
At the 2008 Annual General Meeting of Cardo AB, a resolution was passed
authorizing the Board of Directors to acquire up to so many own shares before
the next Annual General Meeting that the Company's holding at no time exceeds
10% of all shares in the Company. The purpose of the repurchase is to give the
Board the opportunity to adjust the capital structure of the Company during the
period until the next Annual General Meeting. During the second quarter, Cardo
repurchased 1.5 million shares, equivalent to 5 percent of the number of
outstanding shares. The equity in the parent company and the Group has therewith
decreased by SEK 223 million. 

INVITATION TO FINANCIAL HEARINGS TODAY, AUGUST 13, AT 10.00 A.M.
Cardo's President and CEO Peter Aru will comment on the interim report at a
conference today at Operaterrassen in Stockholm at 10.00 a.m. Notification of
intention to attend may be made at www.financialhearings.com or via e-mail to
hearings@financialhearings.com. It will also be possible to take part and ask
questions via telephone number +46 (0)8 53 526 439. The conference may also be
followed via a webcast at www.cardo.com or www.financialhearings.com, where you
will also be able to listen and see the presentation slides afterwards. 
The conference will be held in Swedish. Slides in English will be available at
www.cardo.com


Calendar 2008/2009
November 12 - Interim Report January-September
February 5 2009 - Report on Operations 2008
May 8 2009 - Interim Report January-March 2009
August 13 2009 - Interim Report January-June 2009
November 13 2009 - Interim Report January-September 2009




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.