Interim report January - June 2012

Reporting period January – June

• Orders received rose by 15.7% to SEK 12,025 M (10,395), and grew organically by 4.7%
• Net sales increased by 12.7% to SEK 10,858 M (9,634), and grew organically by 1.3%
• Profit before tax rose by 5.1% to SEK 1,285 M (1,223)
• Net profit increased by 5.1% to SEK 951 M (905)
• Earnings per share increased by 5.3% to SEK 3.98 (3.78)
• EBITA before restructuring rose by 8.2% to SEK 1,873 M (1,731)

Reporting period April – June

• Orders received rose by 20.9% to SEK 6,230 M (5,153), and grew organically by 8.2%
• Profit before tax rose by 9.5% to SEK 716 M (654)
• EBITA before restructuring rose by 9.7% to SEK 1,019 M (929)
• Continued favourable earnings outlook for 2012

Second quarter 2012

Expectations of a significant improvement in earnings growth during the second half of the current year are based on strong orders received during the second quarter.

Orders received

The Group’s orders received experienced a strong trend during the quarter and grew organically by a highly favourable 8.2%. Accordingly, the organic increase in orders received for the first six months of the year totalled 4.7%. Orders received for Medical Systems were particularly strong and grew organically by 15.7%. Infection Control’s orders received increased organically by slightly less than 1%, compared with strong orders received during the year-earlier period.

Extended Care’s organic orders received were slightly higher than in the year-earlier period.

Orders received remained very strong in the markets outside Western Europe and North America, which comprise a growing portion of the Group’s sales. During the first six months of the year, about one-third of orders received were generated in these markets. The volume trend in the markets in Western Europe continued to outperform expectations, while the trend for medical-technical capital goods in North America has been weak to date in 2012.