Interim Report, January – March 2012

Revenue growth and improved profitability

Enea has achieved growth and
improved profitability over the last few quarters. Operations were streamlined
as of the divestment of the Nordic consultancy business in December 2011,
allowing Enea to start 2012 as a focused software company.
Net sales increased to SEK 117.3 (113.6) million, which is equivalent to growth
of 3.3 (-1.0) percent during the first quarter.

Other income amounted to SEK
61.8 million which refers to capital gain from the divestment of the Nordic
consultancy business.

The operating profit for the first quarter increased to
SEK 15.6 (13.9) million which is equivalent to an operating margin of 13.3
(12.2) percent. Including capital gain, the operating profit increased to SEK
77.4 million.

Earnings per share amounted to SEK 0.66 (0.65) per share.
Including capital gain earnings per share amounted to SEK 4.31.

Cash flow
from operations amounted to SEK 6.1 million (5.4) million. The total cash flow
amounted to SEK -6.9 (-2.3) million and to SEK 110.8 million including capital
gain.

The Annual General Meeting elected to transfer SEK 8.00 (5.00) per
share via a redemption program. This is equivalent to a transfer amounting to
SEK 136.9 (86.7) million. The payment date will be 16 May 2012.

January to
March 2012

(first quarter previous year in brackets)

Excluding capital
gain

  · Net sales, SEK 117.3 (113.6) million
  · Growth, 3.3 (-1.0)%
  ·
Growth, currency adjusted, 1.8 (1.6)%
  · Operating profit, SEK 15.6 (13.9)
million
  · Operating margin, 13.3 (12.2)%
  · Net profit before tax, SEK 16.2
(16.0) million
  · Net profit after tax, SEK 11.1 (11.3) million
  · Earnings
per share, SEK 0.66 (0.65)
  · Cash flow from operations, SEK 6.1 (5.4)
million

Including capital gain

  · Net sales, SEK 117.3 million
  · Other
income, SEK 61.8 million
  · Growth, 57.7%
  · Growth, currency adjusted,
56.3%
  · Operating profit, SEK 77.4 million
  · Operating margin, 43.2%
  ·
Net profit before tax, SEK 78.0 million
  · Net profit after tax, SEK 72.9
million
  · Earnings per share, SEK 4.31
  · Cash flow from operations, SEK
6.1 million

Anders Lidbeck, President and CEO comments:

“The first quarter
was good for Enea. We saw growth of 3.3 percent compared with the same quarter
last year. Our operating margin also increased from 12.2 percent to 13.3
percent.

The massive increase in the number of wireless devices that
communicate leads to increases in data traffic which places demand on
investments in infrastructure. Our largest customer, Ericsson, is predicting
that there will be 50 billion connected devices in 2020. Cisco Systems Inc.
believes that the growing number of connected devices will lead to data traffic
increasing eighteen fold over the next four years. We work with the best
suppliers of telecom infrastructure. They have already incorporated Enea’s
operating systems in most of the infrastructure handling 3G and 4G. This is a
fantastic position held by few companies.

Focus on the global software
business

In December 2011, we divested our Nordic consultancy business to
Alten Group and its Swedish subsidiary Xdin. At the start of 2012, we were thus
a global software company with a new organization and focused strategy. We have
retained and continued to invest in our global service organization, with
delivery capacity in the USA, Romania and China. This is developing well, and as
a result we will be able handle both major global consultancy assignments and
restricted local ones.

We continued to improve our product offering during
the quarter. Enea Linux was launched on 27 March at Design West in the USA.
Linux, combined with real-time operating systems, is currently the widespread
standard when constructing telecom infrastructure equipment, and it has become a
prerequisite in order to retain our leading position among major telecom
companies all over the world. Enea’s Linux solution is a combination of software
and services offered as a customized solution. It includes telecom-specific
innovations such as LWRT, which adds certain real-time characteristics to Linux,
and PAX, which is a graphical platform for enhancing hardware performance. The
launch was met with a very positive response from customers, partners and the
media.

Dividends

Our cash flow in 2011 was good, and it was further
reinforced by the final payment for the sale of the Nordic consultancy business.
The Annual General Meeting elected to adopt the proposal of the Board concerning
a transfer to shareholders of SEK 136.9 million, which is equivalent to SEK 8.00
per share.

The market

Long-term market growth is good, with increasing
investments in networks. In the short term, we note that operators are being
slightly cautious with their investments and also experiencing a certain amount
of price pressure which affects their order placement to our customers. On the
other hand, we are receiving reports that the expansion of 4G networks is
progressing more quickly than was originally estimated. In the USA, for example,
the four largest mobile operators have now announced that they will have 4G
networks operational by late 2013.

Enea’s sales vary depending on the success
of our customers; this is due to the royalties we receive based on customers’
sales. Therefore, growth will vary from quarter to quarter. Enea’s long-term
development, on the other hand, appears to be positive. Our ambition during the
next five years is to create a global software company with considerably higher
net sales, high profitability, good cash flow and a large proportion of
recurring revenue.”

Press and analyst meeting

Press and financial analysts
are invited to a press and analyst meeting where Anders Lidbeck, President and
CEO, will present and comment on the report.

Time: Thursday April 26 at 10:00
am CET.

Link: Financial
Hearings (http://financialhearings.nu/120426/enea/)

Phone number: +46 8 506
857 57 or +44 (0) 20 7750 9950

The full report is published at
www.enea.com/investors

This information is such that Enea AB (publ) is to
publish in accordance with the Swedish Securities Markets Act and/or the
Financial Instruments Trading Act. The information was submitted for publication
on April 26, 2012 at 7.30 CET.
For more information

Anders Lidbeck, President &
CEO
Email: anders.lidbeck@enea.com

Catharina Paulcén, VP
Communications
Phone: 46 709 714133
Email: catharina.paulcen@enea.com
About Enea
Enea is a global software and services company focused on solutions
for communication-driven products. With 40 years of experience Enea is a world
leader in the development of software platforms with extreme demands on high
-availability and performance. Enea's expertise in real-time operating systems
and high availability middleware shortens development cycles, brings down
product costs and increases system reliability. Enea's vertical solutions cover
telecom handsets and infrastructure, medtech, automotive and mil/aero. Enea has
offices in Europe, North America and Asia. Enea is listed on Nasdaq OMX Nordic
Exchange Stockholm AB. For more information please visit enea.com or contact us
at info@enea.com.

Enea®, Enea OSE®, Netbricks®, Polyhedra® and Zealcore® are
registered trademarks of Enea AB and its subsidiaries. Enea OSE®ck, Enea OSE®
Epsilon, Enea® Element, Enea® Optima, Enea® Optima Log Analyzer, Enea® Black Box
Recorder, Enea® LINX, Enea® Accelerator, Polyhedra® Flashlite, Enea® dSPEED
Platform, Enea® System Manager, Accelerating Network Convergence(TM), Device
Software Optimized(TM) and Embedded for Leaders(TM) are unregistered trademarks
of Enea AB or its subsidiaries. Any other company, product or service names
mentioned above are the registered or unregistered trademarks of their
respective owner. © Enea AB 2012.