Interim Report for Duni AB (publ) 1 January - 31 March 2010

Interim Report for Duni AB (publ) 1 January - 31 March 2010

Continued improvement in earnings following increased capacity utilization

1 January - 31 March 2010
- Net sales amounted to SEK 960 m (1,007). Adjusted for exchange rate changes,
net sales increased by 1.1%.
- Earnings per share for continuing operations amounted, after dilution, to SEK
1.09 (0.79).

Key financials

	     3 months   3 months    12 months    12 months
         January-March	January-March  April-March  January-December
SEK m	         2010	      2009	09/10	    2009
Net sales          960	     1 007	4 173	   4 220
Operating income1)	77	73	440	436
Operating margin1)	8.1%	7.2%	10.6%	10.3%
Income after financial items	66	50	460	444
Net income2)	51	37	350	336

1) Underlying operating income; for link to reported operating income, see the
section entitled "Non-recurring items".
2) With respect to continuing operations.

CEO's comments

"The first quarter of the year began weakly, but ended with strong sales in
March. This partly reflects the fact that the recovery is still slow, but the
severe winter weather in large parts of Europe certainly also affected people's
inclination to visit restaurants at the beginning of the year. As a consequence
of the significant strengthening of the Swedish krona compared with last year,
sales during the quarter declined to SEK 960 m. At fixed exchange rates,
however, there was a slight improvement.

Volumes in the Professional business area increased by approximately 1.5%, while
Retail lost almost 4%. Tissue had a better order situation than in the
corresponding period of last year and sales increased by almost 6%. 

Operating income increased by approximately 6%, to SEK 77 m. This is primarily
due to a higher gross margin combined with somewhat lower costs. Despite higher
raw materials costs, the margin improved as a consequence of better capacity
utilization than last year, when inventories were substantially reduced. The
lower inventory levels also contribute to an improvement in inventory quality,
which had a positive impact on the margin.

In the Professional business area, the operating margin during the quarter
improved by just over 1 percentage point to 10.8%, due to the factors mentioned
above. Within Retail, the gross margin continued to benefit from an improved
customer and product mix. The operating margin increased to 4.3%, compared with
1.3% the year before. Despite higher sales in the Tissue business area, income
weakened somewhat due to the lag which occurs when prices of raw materials and
energy increase rapidly. 

Overall, prices of input materials have continued upwards at a rapid pace. In
order to offset these substantial increases in costs, Duni has announced price
increases, most of which will take effect during the third quarter. In other
respects, our overall view regarding market trends remains unchanged, namely
that we see before us a slow recovery in the real economy," says Fredrik von
Oelreich, President and CEO, Duni.

Additional information is provided by:
Fredrik von Oelreich, President and CEO, +46 40 10 62 00
Mats Lindroth, CFO, +46 40 10 62 00
Fredrik Wahrolén, Marketing and Communications Manager, +46 734 19 62 07


Duni is a leading supplier of attractive and convenient products for table
setting and takeaway. The Duni brand is sold in more than 40 markets and enjoys
a number one position in Central and Northern Europe. Duni has some 2,000
employees in 17 countries, headquarters in Malmö and production units in Sweden,
Germany and Poland. Duni is listed on NASDAQ OMX Stockholm under the ticker name
“DUNI”. ISIN-code is SE 0000616716.