Interim Report for Duni AB (publ) 1 July – 31 December 2007

(compared with the same period of the previous year)

20 February 2008

Sales increased by 4.7% and operating margin reached 11.6%.

1 July – 31 December 2007

Net sales increased by 4.7% to SEK 2,091 m (1,997).
Income after tax for the continuing operations amounted to SEK 96 m (15).
Earnings per share for the continuing operations amounted, after dilution, to SEK 2.04 (0.31).
Operating income increased to SEK 242 m (172) with an ascending operating margin from 8.6% to 11.6%.
Continued strong growth within the Professional business area: 6.6% (3.2%) and all business areas reported improved operating income.
The Board proposes a dividend of SEK 1.80 per share or SEK 85 m.

1 October – 31 December 2007

Net sales increased by 1.2% to SEK 1,124 m (1,111).
Income after tax for the continuing operations amounted to SEK 58 m (20).
Earnings per share for the continuing operations amounted, after dilution, to SEK 1.23 (0.41).
Operating income increased to SEK 145 m (100), with an ascending operating margin from 9.0% to 12.9%.

CEO's comments

On November 14, Duni was listed on the OMX Nordic Exchange in Stockholm. This was an important milestone in the Company's history that we are all proud of.

The main reason for our success in creating interest and confidence among investors in a tough stock market climate is that Duni continues to develop positively. During the split financial year, sales have continued to increase and profitability has further improved.

Within Professional, sales increased by 6.6% and the operating margin reached 14.6%. Growth in southern and eastern Europe has remained very strong. In addition, gross margins have strengthened across the board thanks to an improved mix, combined with increased productivity and price increases that compensate for higher raw material costs.

Somewhat weaker sales growth during the final quarter of the year is due to a phase shift between the quarters.

In terms of sales, Retail performed less strongly during the second half of the year. This is mainly due to less sales on the UK market, on which there was strong price competition, and with the retail sector continuing to prioritise its own brands. On the other hand, the important markets in the Nordic region and Germany have performed well. Furthermore, it is pleasing to note the result of our changes within Retail, with a focus on category work and the brand, combined with strong cost control, have resulted in an improved operating margin. Our sales within the Tissue business area have also enjoyed a strong half year. Sales of

airlaid, primarily within the hygiene sector,

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 OMX Nordic Exchange Stockholm under the ticker name "DUNI". ISIN code is SE 0000616716.

www.duni.com

have accounted for most of the increase, and the continued focus on cost efficiency has borne fruit.

The trend of rising raw material prices has continued during the year. Thus, Duni has implemented further price increases, which mainly take effect during the first quarter of 2008.

New group structure and reporting

During 2006 and at the beginning of 2007, Duni completed the work of concentrating its operations to its core business, in principle corresponding to the former Duni Europe. The American businesses, Duni Corporation and Duni Supply Corporation, were sold in August 2006 and the sale of the flight catering business was completed in March 2007, when Duni AB sold the shares in deSter Holdings B.V. In order to facilitate a relevant comparison between the years, only the new Group structure is reported in full and designated in this report as "continuing operations".

Net sales increased by 4.7%

During the period 1 July – 31 December 2007, net sales showed a growth by SEK 94 m to SEK 2,091 m (1,997). Exchange rate fluctuations had an insignificant effect on net sales.

Net sales for the period 1 October – 31 December 2007 rose by SEK 13 m to SEK 1,124 m (1,111). Exchange rate fluctuations had a marginal positive effect on net sales for the period October-December 2007.

The weaker increase in net sales during 1 October – 31 December 2007 was mainly attributable to the Retail business area and a certain phase shift between quarters.

Improved income

Operating income (EBIT) increased to SEK 242 m (172) for the period 1 July – 31 December 2007. The gross margin was 27.1% (25.1%). The operating margin increased from 8.6% to 11.6%. Exchange rate fluctuations had an insignificant effect on operating income.

Operating income (EBIT) increased to SEK 145 m (100) for the period 1 October – 31 December 2007. The gross margin was 28.1% (24.9%). The operating margin increased from 9.0% to 12.9%. Exchange rate fluctuations had We enter the new year with a strong product range and a focused organisation. The European market has lately shown a weakening economic trend, but we consider the overall market situation for Duni's products to be favourable and see good opportunities for continued growth, says Fredrik von Oelreich, CEO Duni.

an insignificant positive effect on operating income.

Continued growth in sales combined with increased productivity and sound cost control have contributed to a substantial improvement in operating income for the period. The half-year and quarter of the previous year were affected by non-recurring costs of SEK 19 m and SEK 17 m respectively.

Income after financial items for the quarter was SEK 100 m (38). Income after tax was SEK 58 m (20).

Business area reporting

Duni's operations are divided into three business areas.

The Professional business area (sales to hotels, restaurants and catering companies) accounted for 66.0% of Duni's net sales during 1 July – 31 December 2007 and for 64.1% during the period 1 October – 31 December 2007.

The Retail business area (primarily focused on sales to the consumer market via retail trade) accounted for 21.1% of net sales during 1 July – 31 December 2007 and for 23.8% during the period 1 October – 31 December 2007.

The Tissue business area (production of airlaid and tissue-based material for tabletop products and hygiene applications) represented 12.9% of sales to external customers during the period 1 July – 30 December 2007 and for 12.1% during the period 1 October – 31 December 2007.

The Professional and Retail business areas have, to a large extent, a common product range. Design and packaging solutions are adapted to suit the different sales channels. Production and support functions are shared to a large degree by the business areas. Duni report the results for the business areas on an EBIT level, after allocation of common costs over the respective business areas.

Professional business area

Sales and profitability increased favourably during the period. The markets in southern and eastern Europe demonstrated continued strong growth. The important markets of Benelux, France and UK also demonstrated very positive sales development. Net sales increased by 6.6% to SEK 1,380 m (1,295) for the period 1 July – 30 December 2007.

Operating income increased to SEK 202 m (146). The operating margin was 14.6% (11.3%). The increase in operating income was an effect of continued healthy growth, improved productivity and the full impact of the price increases, implemented to compensate for rising raw material costs.

Net sales for the period 1 October – 31 December grew by 2.6%, to SEK 721 m (703). A lower growth rate in sales was due to phasing between the quarters and that the growth during the strong Christmas season is typically somewhat lower than for the year as a whole. Operating income increased by to SEK 112 m (82) with a operating margin of 15.5% (11.7%).

Retail business area

Net turnover fell by 0.5% to SEK 441 m (443) for the period 1 July – 31 December 2007. The lower sales where primarily due to more intensive competition in the UK. Furthermore, Retail has terminated certain unprofitable customer agreements that will affect future sales development. However, this will not have any significant impact on the operating income.

Operating income improved to SEK 14 m (1). The operating margin was 3.2% (0.2%). The improvement was contributed to successes with the category work in the Nordic region, Germany and Benelux, combined with sound cost control and enhanced productivity.

Net sales for the period 1 October – 31 December declined to SEK 268 m (282). Operating income increased to SEK 20 m (9). The operating margin was 7.5% (3.2%).

Tissue business area

Net sales were up 4.2% to SEK 270 m (259) for the period 1 July – 31 December 2007.

Operating profit increased to SEK 26 m (25). The increase in income follows from higher volumes and improved cost efficiency, which largely compensates for the increase in raw material costs. The operating margin was 9.6% (9.7%).

Net sales for the period 1 October – 31 December increased 7.9% to SEK 136 m (126). Operating income was up to SEK 13 m (10). The operating margin was 9.6% (7.9%).

Cash flow

The Group's cash flow from operations during the period 1 July – 31 December 2007 was SEK 350 m (242). Cash flow including investment activities amounted to SEK 266 m (571). The same period last year included a cash flow of SEK 441 m from the divestment of the Duni Americas business area. Duni's net investments in the continuing operations amounted to SEK 83 m (73).

Operating capital

During the period, capital tied up in inventory was practically unchanged to SEK 500 m. Accounts receivables decreased by SEK 107 m to SEK 546 m (653), which is explained by seasonality variations.

Depreciation and write downs for the period amounted to SEK 46 m (41) for the continuing operations.

Financial net

The financial net for the period was SEK -77 m (-144). In connection with the IPO, a refinancing of Duni's credit facilities was carried out. The new financing resulted in realisation of previous transaction costs associated with borrowing and affected the financial net for the period 1 October – 31 December by SEK 21 m. This did not affect the cash balance. The financial net for this period was SEK - 45 m (-62). External interest expenses were lower than last year thanks to the new financing structure.

Taxes

The total reported tax costs was SEK -68 m (-13), due to the significantly improved income.

During the period 1 October – 31 December, further provisions of SEK 5.5 m were made regarding a pending tax audit in Germany and there was a write-down of SEK 2.5 m regarding losses carried forward which could not be utilised by Duni's branch in Turkey, which is being wound up. On 1 January 2008, the corporate income tax rate in Germany was reduced, which will contribute to a lower tax cost for Duni.

During the period 1 July – 31 December 2007, deferred tax asset relating to losses carried forward were reduced by SEK 28 m.

Personnel

On 31 December 2007, there were 2,001 (1,999) employees. 924 of the employees were engaged in production. Duni's production units are located in Bramsche in Germany, in Poznan in Poland and in Bengtsfors in Sweden.

Acquisitions

No acquisitions were carried out during the period.

New establishment

No new establishments were made during the period.

Risk factors for Duni

A number of risk factors may affect Duni's operations in terms of both operational and financial risks. Operational risks are normally managed by the respective operating unit and financial risks by the Treasury Department.

Operational risks

Duni is currently exposed to risks which are directly connected to the ongoing business operations. Managing the impact of fluctuations in the prices of raw materials constitutes an important element for maintaining profitability. The development of attractive collections in particular the Christmas collection is fundamental for Duni achieving strong sales and income growth.

Financial risks

Financial risks are primarily risks directly related to exchange rates, interest rates and credit risks. Risk management within Duni is regulated by a finance policy approved by the Board of Directors. The risks for the Group are in all essential respects also relevant to the parent company. Duni's management of financial risks is described in greater detail in the Annual Report of 30 June 2007.

Transactions with related parties

"Related parties" means Duni Holding AB. During the period, financial transactions have been carried out. Duni AB has paid a net amount of SEK 11 m on behalf of Duni Holding AB, which was further invoiced to Duni Holding AB.

Changes in Board of Directors

At Extraordinary General Meeting held on 10 August 2007, Pia Rudengren and Harry Klagsbrun were elected members of Duni's Board of Directors. Pia Rudengren is the Chairman of Q-Med AB, and a member of the Boards of Biophausia AB, Zodiak Television AB and Varyag Resources AB. Harry Klagsbrun is employed at EQT Partners AB. Harry Klagsbrun was previously vice President and a member of the Group Executive Committee at SEB, in charge of its Asset Management Division. Harry Klagsbrun has previously worked as CEO of the Alfred Berg Group. Pia Rudengren and Harry Klagsbrun brings capital markets and SSE listing experience to the Duni Board.

Events post 31 December

Commencing 1 January 2008, Duni's financial year is once again the calendar year.

Earnings per share

The period's earnings per share for continuing operations, after dilution, were SEK 2.04 (0.31), equal to SEK 2.04 (0.32) per share before dilution.

Proposed dividend

The Board of Directors proposes a dividend of SEK 1.80 per share or SEK 85 m. The Board assess that the proposed dividend provides scope for the Board to fulfil its obligations and carry out planed investments.

12 May 2008 is proposed as the record date for the right to receive dividends.

Annual General Meeting 2008

Duni AB (publ)'s Annual General Meeting will be held at 3.00pm on 7 May 2008 at Palladium (Södergatan 15) in Malmö. The Annual Report will be available for shareholders latest two weeks before the Annual General Meeting. Shareholders wishing to submit a proposal to Duni's Nomination Committee or who wish to have a matter addressed at the Annual General Meeting may do so by e-mail to

[email protected] or

[email protected] or by letter to Duni AB, Att: Valberedningen or Bolagsstämma, Box 237, 201 22 Malmö, not later than 19 March 2008.

Composition of the Nomination Committee

The Nomination Committee is a shareholder committee which is responsible for nominating those persons who are to be proposed to the Annual General Meeting for election to Duni's Board of Directors. The Nomination Committee submits proposals regarding the Chairman of the Board and other directors. It also produces proposals regarding fees to the Board including the allocation between the Chairman and other directors, as well as any compensation for committee work. The proposals are presented at the Annual General Meeting.

Duni's Nomination Committee for the 2008 Annual General Meeting consists of four members: Peter Nilsson (Chairman of Duni AB and Chairman of the Nomination Committee), Harry Klagsbrun (EQT Partners), Rune Andersson (Mellby Gård) and Anders Oscarsson (SEB Fonder).

Interim reporting

Quarter I	29th of April, 2008.
Quarter II	30th of July, 2008
Quarter III	29th of October, 2008

Outlook for 2008

The European market has lately shown a weakening economic trend, but Duni continues to see favourable market conditions for its products. Duni has announced new price increases which take into consideration, amongst other things, continued increases in raw material prices.

The parent company

Net sales amounted to SEK 701 m (614) for the period 1 July – 31 December 2007. Income after financial items amounted to SEK - 81 m (- 111). The income includes a capital gain from the sale of Duni Americas of SEK 15 m (52).

The external interest expenses were higher in the previous year due to the previous structure, since both the Duni Americas and de Ster business areas were still in the Company.

Net debt amounts to SEK 1,158 m, of which SEK 73 m is attributable to subsidiaries. Net investments amounted to SEK 16 m (18).

Accounting principles

This interim report is prepared in accordance with IAS 34 and according to the Swedish Financial Accounting Standards Council's recommendations RR 31 and, with regard to the parent company, RR 32. The accounting

principles applied comply with those described in the annual report of 30 June 2007.

Information in the report

The information is such that Duni is obliged to publish pursuant to the Securities Markets Act. The information will be disclosed to the media for publication at 8.00am on 20 February. This report has been prepared in both a Swedish and an English version. In the event of any discrepancy between the two, the Swedish version shall apply.

Report from the Board and the CEO

The Board and the CEO certify that this report provides a true and fair view of the Group's financial position and results and describes the material risks and uncertainties facing the Group and the companies included in the Group.

Malmö, 19 February 2008

Peter Nilsson, Chairman of the Board

Sanna Suvanto-Harsaae, Board Member

Harry Klagsbrun, Board Member

Göran Lundqvist, Board Member

Dr. Gerold Linzbach, Board Member

Gun Nilsson, Board Member

Pia Rudengren, Board Member

Göran Andreasson, Employee Representative

Per-Åke Halvordsson, Employee Representative

Fredrik von Oelreich, President and CEO

Additional information is provided by:

Fredrik von Oelreich, President and CEO, Tel.: +46 40 10 62 00 Johan L. Malmqvist, CFO, Tel.: +46 40-10 62 00

Duni AB (publ) Box 237 201 22 Malmö Tel.: +46 40-10 62 00 www.duni.com Registration no.: 556536-7488

Consolidated Income Statements

	6 months July	6 months July -	3 months October	3 months October	6 months January	12 months January
SEK m	December	December	December	December	June	December
	2007	2006	2007	2006	2007	2007
Net Sales	2 091	1 997	1 124	1 111	1 894	3 985
Cost of goods sold	-1 525	-1 495	-808	-834	-1 423	-2 948
Gross profit	566	502	316	277	471	1 037
Selling expenses Administrative expenses	-219 -111	-239 -96	-114 -62	-139 -46	-227 -98	-446 -208
Research and development expenses	-6	-1	-3	2	-6	-13
Other operating income	29	36	11	37	26	57
Other operating expenses	-17	-30	-3	-32	-15	-33
Operating income*	242	172	145	100	151	394
Interest income	9	29	15	15	19	37
Interest expenses, etc.	-86	-172	-60	-76	-139	-235
Net financial items	-77	-144	-45	-62	-120	-198
Income after financial items	165	28	100	38	31	196
Taxes	-68	-13	-42	-18	-28	-97
Net income, continuing operations	96	15	58	20	3	99
Net income, discontinued operations
(Note 2)	15	55	15	-6	457	472
Net Income	111	70	73	15	460	571
Income attributable to:
Equity holders of the Parent Company	111	70	73	15	460	571
Minority interests	-	-	-	-	-	-

* The operating income for 2006 includes restructuring costs of SEK 19 m for the period July – December 2006 and SEK 17 m for the period October - December 2006. Other operating income and expenses include valuation of derivative instruments in accordance with IAS 39.

	6 months July	6 months July -	3 months October	3 months October	6 months January	12 months January
	December	December	December	December	June	December
	2007	2006	2007	2006	2007	2007
Earnings per share, continuing operations, SEK
Before dilution	2.04	0.32	1.23	0.43	0.06	2.11
After dilution Average number of shares before dilution	2.04	0.31	1.23	0.41	0.06	2.09
(´000) Average number of shares after dilution	46 999	46 999	46 999	46 999	46 999	46 999
(´000)	46 999	48 335	46 999	48 335	47 667	47 333
Earnings per share, discontinued operations, SEK
Before dilution	0.32	1.17	0.32	-0.13	9.72	10.04
After dilution Average number of shares before dilution	0.32	1.14	0.32	-0.13	9.59	9.97
(´000) Average number of shares after dilution	46 999	46 999	46 999	46 999	46 999	46 999
(´000)	46 999	48 335	46 999	48 335	47 667	47 333
Earnings per share, attributable to equity holders of the Parent Company, SEK
Before dilution	2.36	1.49	1.55	0.32	9.78	12.15
After dilution Average number of shares before dilution	2.36	1.45	1.55	0.31	9.65	12.06
(´000) Average number of shares after dilution	46 999	46 999	46 999	46 999	46 999	46 999
(´000)	46 999	48 335	46 999	48 335	47 667	47 333

Consolidated Quarterly Income Statements in brief

SEK m	2007					2006
Quarter	Oct Dec	July Sept	Apr June	Jan March	Oct Dec	July Sept	Apr June	Jan March
Net Sales	1 124	966	971	923	1 111	886	917	848
Cost of goods sold	-808	-716	-737	-686	-834	-661	-690	-627
Gross profit	316	250	234	237	277	224	228	222
Selling expenses	-114	-105	-112	-115	-139	-100	-104	-116
Administrative expenses	-62	-49	-47	-51	-46	-50	-62	-60
Research and development expenses	-3	-3	-4	-2	2	-3	-4	-1
Other operating income	11	18	14	12	37	-1	10	3
Other operating expenses	-3	-14	-12	-3	-32	2	0	-9
Operating income *	145	97	73	78	100	72	66	39
Financial income	6	3	5	14	15	14	15	15
Financial expenses etc.	-51	-35	-18	-121	-76	-96	-86	-76
Net financial items	-45	-32	-13	-107	-62	-83	-71	-61
Income after financial items	100	65	60	-29	38	-10	-4	-23
Income tax	-42	-27	-26	-2	-18	5	0	1
Net income, continuing operations	58	38	34	-31	20	-5	-5	-22
Net income, discontinued operations (Note 2)	15	-	-	457	-6	61	27	-5
Net Income	73	38	34	426	15	55	23	-27

* The operating income for 2006 includes restructuring costs amounting to SEK 17 m in Q4 2006, SEK 2 m in Q3 2006, SEK 15 m in Q2 2006 and SEK 16 m in Q1 2006. Other operating income and expenses include valuation of derivative instruments in accordance with IAS 39.

Consolidated Balance Sheets in brief

	31 December	30 June
SEK m	2007	2007
ASSETS
Goodwill	1 199	1 199
Other intangible fixed assets	29	21
Tangible fixed assets	433	399
Financial fixed assets	398	434
Total fixed assets	2 059	2 053

Inventories	500	503
Accounts receivable	546	653
Other operating receivables	207	214
Liquid funds	202	112
Total current assets	1 455	1 482

TOTAL ASSETS	3 514	3 535

SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	1 416	1 300

Long-term loans	1 092	1 234
Other long-term liabilities	219	232
Total long-term liabilities	1 311	1 466

Accounts payable	305	256
Current financial liabilities	0	15
Other current liabilities	482	498
Total current liabilities	787	769

TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	3 514	3 535

Change in the Group's shareholders' equity

SEK m	Related to parent company's shareholders						Total Share holders' Equity
	Share capital	Other capital contrib.	Reserves	Loss carried forward incl. earnings/loss for the period	TOTAL
Closing balance 31 December 2006	59	1 681	28	-934	834	4	838

Opening balance 1 January 2007	59	1 681	28	-934	834	4	838
Currency rate differences	-	-	6	-	6	-	6
Sold business	-	-	-	-	-	-4	-4
Total transactions reported directly against shareholders' equity	0	0	6	0	6	-4	-2
Net income for the period	-	-	-	460	460	-	460
Total reported revenues and costs	0	0	6	460	466	-4	462
Closing balance 30 June 2007	59	1 681	34	-474	1 300	0	1 300

Opening balance 1 July 2007	59	1 681	34	-474	1 300	0	1 300
Exchange rate differences	-	-	5	-	5	-	5
Total transactions reported directly against shareholders' equity	0	0	5	0	5	0	5
Net income for the period	-	-	-	111	111	-	111
Total reported revenues and costs	0	0	5	111	116	-	116
Closing balance 31 December 2007	59	1 681	39	-363	1 416	0	1 416

Consolidated Cash Flow Statement

	1 July– 31	1 July– 31
	December	December 1)
SEK m	2007	2006
Current operation
Operating income, continuing operations	242	172
Operating income, discontinued operations	15	142
Adjustment for items not included in cash flow etc	25	-17
Paid interest, dividends and tax	-82	-116
Change in working capital	150	61
Cash flow from operations	350	242

Investments
Acquisition of fixed assets	-83	-116
Sales of fixed assets	0	8
Divested business	-	441
Change in interest-bearing receivables	-1	-4
Cash flow from investments	-84	329

Financing
Taken up loans	1 241	0
Amortization of debt	-1 373	-458
Change in borrowing	-45	-50
Cash flow from financing	-177	-508

Cash flow from the period	89	63
Liquid funds, opening balance	112	1
Exchange difference, liquid funds	1	-3
Liquid funds, closing balance	202	61

1) The cash flow is a mix of continuing and discontinued operations. For further details see note 3, Clarification of operational cash flow for the continuing operations, 1 July – 30 Dec 2006.

Key ratios in brief

	1 July – 31 December	1juli – 31 December
	2007	2006
Net Sales, SEK m	2 091	1 997
Gross Profit, SEK m	566	502
EBIT, SEK m	242	172
EBITDA, SEK m	288	213
Number of Employees	2 001	2 944

Sales growth, %	4.7 %	0 %
Gross margin, %	27.1 %	25.1 %
EBIT margin, %	11.6 %	8.6 %
EBITDA margin, %	13.8 %	10.7 %

Parent Company Income Statements in brief

	6 months	6 months
	July	July
SEK m	December	December
	2007	2006
Net Sales	701	614
Cost of goods sold	637	-540
Gross profit	64	74

Selling expenses	-58	-63
Administrative expenses	-74	-89
Research and development expenses	-1	0
Other operating revenue	126	165
Other operating expenses	-77	-74
Operating income	-20	13
Revenue from participations in group
companies	0	0
Other interest revenue and similar income	19	41
Interest expenses and similar expenses	-80	-165
Net financial items	-61	-124

Income after financial items	-81	-111

Appropriations	0	33
Taxes on income for the period	6	48
Net income for the period	-75	-30

Parent Company Balance Sheets in Brief

	31 December	30 June
SEK m	2007	2007
ASSETS
Goodwill	899	949
Other intangible fixed assets	28	5
Tangible fixed assets	71	75
Financial fixed assets	1 100	1 139
Total fixed assets	2 098	2 168
Inventories	133	133
Accounts receivable	129	148
Other operating receivables	466	588
Cash and bank	116	64
Total current assets	844	933
TOTAL ASSETS	2 942	3 101
SHAREHOLDERS' EQUITY AND LIABILITIES Shareholders' equity1)
	1 304	1 261
Long-term financial liabilities	1 307	1 393
Other long-term liabilities	113	115
Total long-term liabilities	1 420	1 508

Accounts payable	64	42
Current financial liabilities	0	15
Other current liabilities	154	275
Total current liabilities	218	332
TOTAL SHAREHOLDERS' EQUITY, PROVISIONS
AND LIABILITIES	2 942	3 101

1) Shareholders' equity also includes group contributions from RexCell Tissue & Airlaid AB, which is included in the same tax subject.

Duni's share

As per 31 December 2007 the share capital amounted to SEK 58,749,000 divided into 46,999,032 shares, each with a quotient value of SEK 1.25.

At an Extraordinary General Meeting held on 28 August 2007, a resolution was adopted to carry out an 8:1 share split, entailing an increase in the share capital from 5,874,879 outstanding ordinary shares to 46,999,032 outstanding ordinary shares.

Shareholders

Duni is listed on OMX Nordic Exchange Stockholm under the ticker name "DUNI". Duni's main shareholders are EQT (39%), Mellby Gård (22%), and SEB Fonder (6%).

Definitions

Cost of goods sold: Cost of goods sold including production and logistic costs.

Gross margin: Gross profit as a percentage of net sales.

EBIT: Operating income.

EBIT margin: EBIT as a percentage of net sales.

EBITA: Operating income adjusted for impairment of intangible assets and amortisation of goodwill.

EBITA margin: EBITA as percent of net sales.

EBITDA: Operating income before total depreciations and impairments.

EBITDA margin: EBITDA as percent of net sales.

Capital employed: Non-interest bearing fixed assets and current assets less non-interest bearing liabilities.

Return on capital employed: Operating income as a percentage of the capital employed.

Return on shareholders' equity: Annual net income as a percentage of shareholders' equity.

Number of employees: The number of employees at end of period.

Currency adjusted: Figures adjusted for changes in exchange rates. Figures for 2007 are calculated at exchange rates for 2006.

Earnings per share: Income for the period divided by the average number of shares.

Notes

Note 1. Accounting and valuation principles

Since January 1, 2005, Duni applies International Financial Reporting Standards (IFRS) as adopted by the European Union. For transition effects see notes 45 and 46 in the Annual Report of 30 June 2007.

This interim report has been prepared according to IAS 34 and according to the Swedish Financial Accounting Standards Council's standards RR 31 and, with regard to the parent company, RR 32. The accounting principles are the same as in the Annual Report of 30 June 2007

Note 2. Divested business

The American businesses, Duni Corporation and Duni Supply Corporation, were sold in August 2006. In November 2007, Duni and Innoware LLC came to a final agreement concerning the purchase price and the arbitration proceedings between them was avoided. The final purchase price was adjusted by SEK 31 m. The effect on cash flow was SEK - 29 m. In connection with this settlement, the provision was adjusted and SEK 15 m was dissolved as an additional capital gain on the sale of Duni Americas.

The sale of deSter Holding B.V. was completed in March 2007.

Note 3 Clarification of operating cash flow for continuing operations 1 July – 31 December 2006

For clarification of the first half-year 2007, please see Duni's six-month report for 2007.

Investments

Duni's total net investments for the period 1 July – 31 December 2006 amounted to SEK 116 m. The net investments in the continuing operations have been SEK 73 m. Net investments in the continuing operations for the full year of 2007 amounted to SEK 132 m.

Changes in working capital

The net change in operating working capital, inventory/accounts receivables/accounts payables during the period 1 July – 31 December, 2006 amounted to SEK 79 m. The change involves a net change of SEK 64 m in inventory, a net change of SEK -10 m in accounts receivable, and a net change of SEK 25 m in accounts payable for the continuing operations. The net change in the continuing operations for the full year of 2007 amounts to SEK -24 m in inventory, SEK 14 m in accounts receivable and SEK 30 m in accounts payable.