BT Industries, January -- September 2003


MJOLBY, Sweden, Oct. 29, 2003 (PRIMEZONE) -- BT defends profit margin despite weak dollar.

                                           January - September
 Amounts in SEK m.                                2003     2002
 Orders received                                 8,761    9,396
 Net sales                                       8,552    8,999
 Income after net financial items                  502      540
 Net income                                        299      320
 Number of employees                             7,797    7,794

Market development

The global market for industrial trucks is estimated to have increased slightly during the year compared with the corresponding period of 2002. The recovery in both the global economy and the industrial truck industry has been somewhat slower than we had previously expected, especially in the third quarter. As a whole, however, the market noted slight growth in volume.

"Demand increased in North America in the third quarter, but the increase was most noticeable in Oceania and Eastern Europe," says CEO Per Zaunders."

Orders and sales

During the first nine months of 2003 the Group's orders received amounted to SEK 8,761 m. (9,396). The decrease is entirely due to currency effects, primarily from a weaker U.S. dollar. At comparable exchange rates, orders received were 2% higher than the corresponding period of 2002. Net sales amounted to SEK 8,552 m. (8,999). At comparable exchange rates, the increase was 4%, however.

"We anticipate that our industry will cautiously gain ground, though at a slower pace than we previously thought," concludes CEO Per Zaunders.

Handling Innovation

BT Industries is the world's leading supplier of warehouse trucks and related services. We are nearly 8,000 employees and have sales of approximately SEK 12 billion. Production is handled at seven plants in four countries, with a dealer network that covers the entire world. Our customers are mainly large, consumer-oriented companies with very high demands on efficient material handling. BT Industries is part of Toyota Industries Corporation.

For further information, please contact:
CEO Per Zaunders +46 142 86032
CFO Hakan Dahllof +46 142 86338 
Corporate Information Manager Anders Stalhammar (+46 142 86121)

The complete interim report and other press material are available on the BT Industries website,

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The full report