Interim Report for Duni AB (publ) 1 January - 30 June 2011

| Source: DUNI AB DUNI AB 

Interim Report for Duni AB (publ) 1 January - 30 June 2011

Stronger sales trend

1 January - 30 June 2011

  · Net sales amounted to SEK 1,827 m (1,930). Adjusted for exchange
rate changes, net sales increased by 0.2%.
  · Earnings per share amounted, after dilution, to SEK 2.12 (2.48).
  · Increased marketing measures within growth areas.

1 April - 30 June 2011

  · Net sales amounted to SEK 960 m (970). Adjusted for exchange rate
changes, net sales increased by 3.5%.
  · Earnings per share amounted, after dilution, to SEK 1.25 (1.40).
  · Both Professional and Retail demonstrated an improved sales
development compared with the preceding quarter.

Key financials

                              6 months      6 months      3 months
April-  3 months April-  12 months  12 months
                              January-June  January-June  June          
  June             July-      January-December
                                                                        
                   June
SEK m                         2011          2010          2011          
  2010             10/11      2010
Net sales                     1 827         1 930         960           
  970              3 868      3 971
Operating income1)            155           168           88            
  91               421        435
Operating margin1)            8.5%          8.7%          9.1%          
  9.4%             10.9%      10,9%
Income after financial items  134           156           79            
  90               397        418
Net income                    99            117           59            
  66               289        306

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

CEO's comments

"It is pleasing to note that the volume trend during the second quarter
of the year improved compared with the first quarter and largely
reflects the continued recovery on our main markets.

Both Professional and Retail increased their sales volumes compared with
last year, by just over 3% and 1.5% respectively. However, the sales
trend within the Tissue business area remained weak, primarily within
the hygiene products sector, and sales fell from SEK 125 m to SEK 109 m.
For Duni as a whole, sales experienced an upward turn during the quarter
and reached SEK 960 m. At fixed exchange rates, this corresponds to an
increase of 3.5% compared with the second quarter of last year.

Thanks to the improved sales trend, we achieved a seasonally strong
operating profit of SEK 88 m. At fixed exchange rates, this corresponds
to SEK 93 m, which is somewhat better than last year's result. Both
Professional and Retail reported increased income at fixed exchange
rates, while Tissue fell back due to a decrease in sales and lower
capacity utilization. However, the order book is expected to improve
during the second half of the year.

During the quarter, costs for certain input materials and in particular
for traded goods, continued to increase. Going forward, this will impact
on the cost of sold goods, but we believe that Duni will be able to
mitigate this effect thanks to the price increases that we are currently
implementing. As regards the market trend in general, we anticipate
continued volume growth within our main area, Professional," 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
Helena Haglund, Group Accounting Manager, +46 734 19 63 04

Attachments