Interim Report for Duni AB (publ) 1 January – 30 June 2012

Improved operating income in the quarter
1 January – 30 June 2012

  · Net sales amounted to SEK 1 790 m (1 827). Adjusted for exchange rate
changes, net sales fell by 2.1%.
  · Earnings per share, after dilution, amounted to SEK 1.97 (2.12).
  · Stable sales in an uncertain economic climate.

1 April – 30 June 2012

  · Net sales amounted to SEK 934 m (960). Adjusted for exchange rate changes,
net sales fell by 2.7%.
  · Earnings per share, after dilution, amounted to SEK 1.19 (1.25).
  · Improved operating margin within the Professional and Consumer business
areas.
  · The new, more market oriented organization implemented.

Key financials

SEK m         6 months  6 months  3 months  3 months  12 months  12 months
              January-  January-  April-    April-    July-      January-
              June      June      June      June      June       December
              2012      2011      2012      2011      2011/2012  2011
Net sales     1 790     1 827     934       960       3 769      3 807
Operating     150       155       90        88        398        404
income1)
Operating     8.4%      8.5%      9.6%      9.1%      10.6%      10.6%
margin1)
Income after  128       134       77        79        352        358
financial
items
Net income    93        99        56        59        254        261

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

CEO’s comments

“During the second quarter, Duni's sales performance continued to reflect the
weak economy in Europe. Sales were 2.7% lower at fixed exchange rates.

The Professional business area achieved sales of SEK 699 m, representing a
decline of 2.2% at fixed exchange rates. This reflects a somewhat weaker trend
in Germany than during the first quarter of the year, especially within the cash
and carry segment. In addition, we lost rather important sales in the UK;
however, these related to a couple of volume contracts with weak profitability.
In other respects, the trend in Professional was characterized by stability,
with a continued shift in the mix towards premium products. Our new premium
tablecover, Evolin®, is growing on a conservative market, but had only a
marginal impact on sales during the quarter.

The Consumer business area experienced a clear improvement during the second
quarter compared with the weak first quarter. Sales were SEK 126 m, which is
7.2% lower than last year. The drop in sales is related to the loss of the big
international private label-contract during 2011. Beyond this we are witnessing
an overall improvement, particularly on the important German market. In light of
the fact that the impact of a number of new contracts will be felt during the
second half of the year, we believe that Consumer will enjoy a positive trend
during the rest of the year.

During the second quarter, business area Tissue achieved sales of SEK 109 m,
which was the same as last year. Capacity utilization has improved compared with
the preceding quarter, but production was affected by trial runs and the running
in of new equipment.

In total, Duni posted an operating income of SEK 90 m, compared with SEK 88 m
last year. This represents an operating margin of 9.6% (9.1%). The improvement
in income is mainly due to an improved gross margin resulting from the price
increases carried out last year, combined with relative stability in raw
materials prices.

1 April saw the launch of the new organizational structure which is aimed at
creating a clearer focus on the various lines of business and providing improved
conditions for growth. During the quarter, the recruitments resulting from the
organizational change were also finalized.

In the coming quarters, the European sovereign debt crisis may have the effect
of curbing economic growth. Thus, we anticipate, and are prepared for, continued
uncertainty as regards demand on the market”, 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
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.