Interim Report January-September 2008

Interim Report January-September 2008

	Sales during the period increased by 9 percent to MSEK 5,620 (5,163) and
during the third quarter by 10 percent to MSEK 1,876 (1,702).
	Impairment losses of goodwill, mainly attributable to the UK operations,
impacted net income by MSEK 490 during the period and in the third quarter. 
	Operating income (EBIT)* before impairment losses of goodwill decreased during
the period by 22 percent and amounted to MSEK 325 (416), which resulted in an
operating margin (EBIT) of 5.8 percent (8.1). During the third quarter,
operating income (EBIT) decreased by 28 percent to MSEK 104 (145). The operating
margin (EBIT) during the third quarter was 5.5 percent (8.5).
	Income before tax for the period amounted to MSEK -251 (386). Foreign exchange
rate effects impacted financial net by MSEK -6 (7) during the period.
	Net income amounted to MSEK -324 (268) during the period, and to MSEK -440
(78) during the third quarter. Earnings per share amounted to SEK -0.89 (0.73)
during the period, and to SEK -1.21 (0.21) during the third quarter.

*Operating profit (EBIT) before impairment losses of goodwill is referred to
throughout the report unless otherwise stated. 


Comments from the CEO, Juan Vallejo
We saw sales growth of 10 percent in the third quarter, despite a declining
share within the banking customer segment, 24 percent (27 percent). The decrease
in sales to the banking sector is mainly attributable to implementation
projects. Price pressure, particularly in relation to sales of larger security
solutions within implementation projects, has contributed to decreasing margins,
while at the same time, selling and administrative expenses are increasing at a
higher rate than gross income. As part of an increased focus on profitability,
all costs are now being reviewed in the Group, particularly as regards to that
part of the operations covering implementation projects. At the same time we are
increasing our activities to develop our service offering and drive profitable
growth. Service accounted for 39 percent of our total sales during the period.
It is too early to say how the recent financial market turbulence will impact us
in the near term, but we are preparing to encounter a tougher market. 

Press conference
A press conference will be held at Niscayah's head office at Lindhagensplan 70
in Stockholm on November 4, 2008 at 10.30 am, CET. To follow the press
conference by telephone (and ask questions), please call:
Sweden: + 46 (0) 8 50 520 270
UK: + 44 (0) 208 817 9301 
US: + 1 718 354 1226



For additional information, contact:
Juan Vallejo, CEO and President 	 + 46 10 458 8000
Håkan Gustavson, CFO		 + 46 10 458 8000
Else Trägårdh, Investor Relations	 + 46 10 458 8080


Niscayah Group AB (publ.) is a world leading security partner offering complete
security solutions for clients with high security demands within market segments
such as banking and finance, industry, defense, healthcare and retail.
Niscayah's services are based on modern technology and include access control,
video surveillance, intrusion protection and fire alarm systems.
www.niscayah.com

Niscayah Group AB discloses the information provided herein pursuant to the
Swedish Securities Markets Act and/or the Swedish Financial Instruments Trading
Act. This information was submitted for publication at CET 08.30 am on November
4, 2008.