ABS Interim Report: January – March 2002

07.05.2002

Invoiced sales amounted to 78.7 MEUR (67.9), which adjusted for the effect of exchange rate movements is a rise of 15 percent. Company acquisitions account for 7 percentage points of this figure. Operating earnings amounted to 3.3 MEUR (3.4).

The expansion in Asia continued, where major orders of pumps for wastewater projects in China and mixers for Japan were secured.

Earnings were adversely affected by unsatisfactory margins for a number of major project deliveries to the pulp and paper industry. The inflow of orders rose by 1 percent for the current structure after adjustment for the effects of exchange rate movements.

Demand increased in the Water and Wastewater segment during the period compared with the previous year. In the Building Services segment, demand stabilised after the downward trend during most of 2001. Demand from the Industry segment decreased compared with the previous year.

Major orders in Venezuela and Chile

In the USA, an order worth 0.3 MEUR was received for submersible pumps for Portland Airport; and in Venezuela a major government customer placed an order for 43 big dewatering pumps worth 0.5 MEUR.

Process pumps, worth 0.6 MEUR, were sold to Chile for a major project in the paper industry as well as pumps and mixers for a new water and wastewater treatment plant. In Spain, a number of major orders were received for wastewater treatment projects; and in Sweden an order was won for rental of a number of big pumps in connection with a tunnel construction project in Gothenburg. This tunnel project, with an estimated project cost totalling 243.6 MEUR, will be under way over a five-year period.

Interesting orders for Swedmeter and Nopon

The newly acquired companies Swedmeter and Nopon secured a number of interesting orders during the period. This includes one for Swedmeter products for the remote monitoring of 21 pumping stations in Italy, where a large order for Nopon's fine-bubble aeration systems was also received from a major customer. Nopon also secured a major order in Switzerland for similar products and orders from Poland and Germany for compressors for use in aeration systems.

Exchanges rates from SEK to EUR: 9.03115 (2002) and 9.17223 (2001)

For further information, please contact Annika Lemming, Marketing Communications, phone +46 31 83 64 08 or e-mail: annika.lemming@abspumps.com.

Source: Sulzer Ltd.

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