INTERIM REPORT JANUARY-MARCH 2012

Strong growth and substantial improvement in earnings

  · Strong growth within the Group, +30 %
  · Substantial improvement in
earnings, EBITDA of SEK 2.2 million (–24.5 m)
  · Renewable Energy grows
strongly, sales +37 %
  · Continued good development for Engine Efficiency,
sales +20 %
  · Extensive licensing and delivery in China based on SRM’s
leading compressor technology
  · New electricity generation record for Opcon
Powerbox, around 800 kW
  · Operating earnings for 2012 are expected to be
positive

Q1, January-March 2012

  · Net sales amounted to SEK 163.1
million (125.2 m)
  · Operating profit (EBITDA) was SEK 2.2 million (–24.5 m)
· Operating loss (EBIT) was SEK 6.2 million (–33.5 m)
  · Loss after tax of SEK
7.3 million (–25.8 m)
  · Earnings per share SEK –0.06 (–1.05)

Significant
events after the end of the period

  · Additional development agreement based
on SRM’s leading compressor technology signed with Chinese business active in
refrigeration. The order value for development is SEK 18 million. In addition
there will be future licence income over ten years with possible prolongation.
Overall the contracted income from development and licensing agreements signed
with this customer over the past year amounts to nearly SEK 80 million

For
further information

  · Rolf Hasselström, President and CEO: +46 8 466 45 00,
+46 70 594 79 60
  · Niklas Johansson, deputy CEO, Investor Relations: +46 8
466 45 11, +46 70 592 54 53
  · Göran Falkenström, deputy CEO and CFO: +46 532
611 22, +46 70 330 05 02