Interim Report 2009/10 Q4

1 January-31 March 2010 (fourth quarter)

An improvement in the business climate was seen. Action taken during prior periods had an increasingly positive effect during the financial year, especially with respect to earnings and cash flow.
Net revenue for the fourth quarter amounted to MSEK 435 (528).
Operating profit was MSEK 22 (10) and the operating margin was 5.1 percent (1.9), where the fourth quarter of the previous year was affected by items affecting comparability in an amount of MSEK-17.
Cash flow from operations amounted to MSEK 42 (56) during the fourth quarter and the Group showed a net cash position of MSEK 11, not including pension liabilities, at the end of the period.
Norwesco AB was acquired after the end of the quarter under review.

1 April 2009-31 March 2010 (Year-end Report 12 months)

Net revenue for 2009/10 amounted to MSEK 1,720 (2,138).
Operating profit amounted to MSEK 67 (105), equivalent to an operating margin of 3.9 percent (4.9). This result includes items affecting comparability in a total amount of MSEK-1 (MSEK-21).
Profit after financial items amounted to MSEK 58 (94) and the after-tax result was MSEK 42 (68).
Earnings per share amounted to SEK 1.91 (3.05). The return on equity was 8 percent (14).
Cash flow from operating activities amounted to MSEK 87 (137), equivalent to cash flow per share of SEK 3.96 (6.15).
The equity ratio was 56 percent (49).
The Board of Directors proposes a dividend of SEK 1.50 per share (1.50).

Lagercrantz Group AB (publ) PO Box 3508 SE-103 69 Stockholm, Sweden Phone +46 (0)8-700 66 70 Fax +46 (0) 8-28 18 05 Corporate identity no 556282-4556 Registered office Stockholm www.lagercrantz.com

Statement of the Chief Executive Officer

The year behind us

The 2009/10 operating year was marked by financial crisis and recession. With a clear start in November 2008, business volumes in most of the Group's units began to fall. Customers' planning horizon was shortened, many customers wanted to cancel orders already placed and some encountered financial problems. This trend was accentuated during the first six calendar months of 2009. We reacted early in Lagercrantz Group. Plans for a negative scenario were drafted business unit by business unit and these plans were implemented in lockstep with the deteriorating situation. At this stage our decentralised structure with relatively small and easy-to-grasp units with purposeful, responsible managers constituted a considerable strength. The plans were drafted locally and implemented by the subsidiary chief executives, forcefully and with good judgment, which meant a minimum of conflicts and costs.

All in all, the business volume declined by just over 20 percent from the peak in autumn of 2008 and we reduced our staff and our costs by as much. In total, we were forced to let go of approximately 200 persons from the Group, which has contributed to a reduction of the cost load by about MSEK 80 compared to the preceding financial year.

Focus during the decline was also to strengthen cash flows and reduce risk by freeing up capital tied up in inventories and trade receivables. We introduced stricter routines for follow-up and collection of outstanding accounts receivable and intensified our efforts to reduce inventories. We therefore managed to end the year without significant bad debt losses and we reduced capital tied up in inventories and trade receivables by about MSEK 70.

During the second half of the operating year we began to see a gradual improvement in the market situation. Action taken took effect simultaneously and we regained the balance between revenue and costs. In terms of profit we have not yet returned to pre-recession levels, but the situation still feels stable and hopeful for the future.

I also wish to say an extra big thank you to all of the Group's employees. I do express my gratitude every year in my comments, but last year called for something extra and everybody put their hearts into it.

Future

Looking forward, we now see great potential for developing Lagercrantz Group along the course entered upon. This means that we will continue to focus on increasing value added, in part by increasing the proportion of solution based sales, system integration and proprietary products.

The proportion of proprietary products has now reached a level of more than 20 percent of the total business volume, from having been almost non-existent a few years ago. Our most recent acquisition of Norwesco will increase the proportion further.

The Group's strategy is also to broaden operations into new technology areas. Here high tension current and electromechanics have been examples during the past few years, but we have also looked into segments such as camera surveillance and technical security, with a clear niche strategy. Other new areas may be considered as we see that our decentralised organisational model and niche strategy can be put to good use in several technology areas.

We intend to accomplish the transformation of Lagercrantz Group by organic growth and acquisitions. Projects are in progress in several companies for increased value creation, including a larger portion of systems sales. We are also focusing on winning back the business volume we have lost. With lower costs, higher volume will have beneficial effects on profit. In the current situation we will also increase the rate of acquisitions. During the recession we pursued a wait-and-see policy with respect to acquisitions, but now we intend to increase the activities. In an extended perspective Lagercrantz Group shall consist of a number of well managed, profitable, clearly niched technology companies, each a leader in its respective area.

We now have an excellent platform on which to continue building Lagercrantz. We have some 20 strong, wellfunctioning units, we have growing volumes and results and we have a financial position that makes pursuing an active acquisitions policy possible.

May 2010

Jörgen Wigh President & CEO

Net revenue and profit

Lagercrantz Group's net revenue for the financial year 2009/10 (1 April 2009-31 March 2010) amounted to MSEK 1,720 $(2,138)$ . For the fourth quarter $(1)$ January-31 March 2010) revenue amounted to MSEK 435 (528). The lower revenue during the financial year is a consequence of the weak economy during most of the period and of the action taken in the Group to restructure certain businesses. A better business climate was seen in the third quarter than previously during the year. This trend was reinforced during the fourth quarter. The improvement was particularly noticeable from certain export-oriented customers during the second half of the year. Towards the end of the fourth quarter stronger demand was also noted from customers in power and electricity distribution. Demand from customers in the public sector, which among other things affects the Group's digital image/technical security area, was stable during the year.

The effects of realignment of the Group's businesses were seen in gradually strengthened margins during the year. Action taken has included closing of the Norwegian Access business and restructuring of the businesses in Finland and Poland. In division Electronics concentration of the businesses to the larger markets was carried out. In all, action taken resulted in items affecting comparability in an amount of MSEK $-1$ $(-21)$ during the year, mainly related to personnel reductions. With these measures the headcount has declined by about 200 persons since autumn 2008 and operating expenses have declined by about MSEK 80 compared to the preceding financial year.

In addition to cost-cutting measures, focus has been on strengthening cash flows by reducing the Group's working capital. Streamlining action implemented contributed to lowering inventories and trade receivables by MSEK 70 during the financial year, MSEK 54 of which constitutes inventory reductions.

Operating profit for 2009/10 amounted to MSEK 67 $(105)$ , equivalent to an operating margin of 3.9 percent $(4.9)$ . The result was impacted by foreign exchange effects arising in conversion of operating receivables and liabilities in the amount of MSEK $-4$ (5), aside from the aforementioned items affecting comparability.

The operating margin during the fourth quarter was 5.1 percent (1.9) when the operating profit was MSEK 22 (10). The preceding year contains items affecting comparability in the amount of MSEK-17. Foreign exchange effects amounted to $MSEK-1$ (0) during the fourth quarter. Profit after net finance items amounted to MSEK 58 (94) and MSEK 19 (5) during the fourth quarter. The net of

finance items was affected by changes in foreign exchange rates applied to convert financial receivables and liabilities in the amount of MSEK $-1$ $(-2)$ for the financial year and MSEK 0 (0) during the fourth quarter.

Profit for the year after taxes amounted to MSEK 42 (68), equivalent to earnings per share of SEK 1.91 (3.05). During the fourth quarter the corresponding figures were MSEK 13 $(4)$ and SEK 0.59 $(0.18)$ , respectively.

Profitability and financial position

The return on capital employed for the financial year was 11 percent as against 17 percent for the previous year. The corresponding figures for return on equity were 8 percent and 14 percent, respectively.

Equity per share stood at SEK 22.50, compared to SEK 23.60 at the beginning of the financial year. The equity was 56 percent compared to 49 percent at the beginning of the financial year.

At the end of the period the Group's financial net liability stood at MSEK 38 (78), including a pension liability in the amount of MSEK 49 (52). The Group's net debt equity ratio was 0.1 (0.2).

Cash flow and capital expenditures

Cash flow from operating activities amounted to MSEK 87 (137) during the financial year. Cash flow was affected in a positive direction by measures taken to reduce working capital. Capital investments in non-current assets declined to a gross amount of MSEK 17 (23). No shares were repurchased during the quarter.

Distribution of revenue

Segment and group reconciliation

	Net revenue				Operating result
MSEK	3 months 2009/10	3 months 2008/09	12 months 2009/10	12 months 2008/09	3 months 2009/10	3 months 2008/09	12 months 2009/10	12 months 2008/091
Electronics	135	187	552	727		7	17	24
Operating margin					5.2%	3.7%	3.1%	3.3%
Mechatronics	124	140	511	628		$\overline{4}$	30	49
Operating margin					6.5%	2.9%	5.9%	7.8%
Communications	176	201	657	783	11	7	34	52
Operating margin					6.3%	3.5%	5.2%	6.6%
Parent company/Consolidation items		0	$\Omega$	$\mathbf 0$	-4	-8	$-14$	$-20$
Group total	435	528	1,720	2,138	22	10	67	105
Operating margin					5.1%	1.9%	3.9%	4.9%
Financial items					-3	$-5$	-9	$-11$
PROFIT BEFORE TAXES					19	5	58	94

1 Operating profit and operating margin for 2008/09 are shown including items affecting comparability in the amount of MSEK-21.

Net revenue and profit by division - fourth quarter

Electronics

Net revenue for the fourth quarter amounted to MSEK 135 (187). Sales were lower, as a result of the state of the market, restructuring of businesses with low profitability and the move of the electronics operations in Finland to the Finnish trading operations in division Mechatronics. This business was included in an amount of about MSEK 13 in fourth quarter business volume last year.

Sales volumes stabilised during the latter part of the year for most of the businesses within the division. Increased activity has been seen in some of the division's customer segments. This has had a gradual positive effect on demand.

Adaptation of the businesses has been carried out, which increased the margins during the year. Measures taken have included concentration of businesses to the Nordic markets, Germany and Poland as well as product line development with focus on gross margins, cost-cutting measures and shrinking the organisation.

Operating profit for the fourth quarter amounted to MSEK 7 (7), which is equivalent to an operating margin of 5.2 percent (3.7).

Mechatronics

Net revenue for the fourth quarter amounted to MSEK 124 (140). The drop in revenue is predominantely explained by the state of the market. Growing demand was seen from the division's customers during the quarter, both in industry and power and electricity distribution.

Efforts to reduce costs and streamline operations continued during the quarter. Action was taken in the form of personnel reductions and working capital reduction, as well as integration of the Finnish electronics trading activities.

Fourth quarter operating profit amounted to MSEK 8 (4), equivalent to a margin of 6.5 percent (2.9).

Communications

Net revenue amounted to MSEK 176 (201). Demand was strong in the area of digital image/technical security in several customer segments, especially from the public sector. The software area recorded lower sales compared to last year. On the other hand, a stabilisation of the business climate was seen during the fourth quarter, particularly in the area's main business, which is selling CAD software. Weak demand continued to be seen in the Access area.

Measures have been implemented to adapt the businesses in the division. Closing of the Access business in Norway was completed as planned.

Fourth quarter operating profit amounted to MSEK 11 (7), which is equivalent to an operating margin of 6.3 percent $(3.5).$

Other financial information

Parent Company and other consolidation items

The Parent Company's internal net revenue for the financial year amounted to MSEK 22 (26) and profit after finance items was MSEK 60 (77). This result includes exchange rate adjustments on intra-Group lending in the amount of MSEK $-3$ (3). Dividend income from subsidiaries amounted to MSEK 86 (140). Investments in non-current assets were made in a net amount of MSEK 0 (0). The Parent Company has a credit facility of MSEK 250. Utilisation at the end of the period was MSEK 22, as against a positive balance of MSEK 7 at the beginning of the financial year. There were liquid funds in the amount of MSEK 0 at the end of the period as compared with MSEK 0 at the beginning of the financial year. The Parent Company's equity ratio stood at 76 percent at the end of the period as against 65 percent at the beginning of the year.

Employees

At the end of the period the number of employees in the Group was 608, which can be compared to 742 at the beginning of the financial year and just over 800 persons in the autumn of 2008. The decrease of just over 20 percent compared to this point in time is the result of action taken in the Group.

Share distribution and repurchases

The share capital at the end of the period amounted to MSEK 48.9. The distribution on classes of shares is as follows:

Repurchased B shares Total	$-1.195.500$ 21,977,809

Class B shares	22,078,655
Class A shares	1.094.654
Classes of shares

Lagercrantz owns 1,195,500 class B shares, equivalent to 5.2 percent of the number of shares outstanding and 3.6 percent of the votes in Lagercrantz. Shares held in treasury cover, inter alia, the Company's obligations under outstanding option programmes, where a total of 665,500 options have been acquired by members of senior management (awards 2007, 2008 and 2009) with a strike price of SEK 44.40, SEK 36.80 and SEK 31.10, respectively, per call option. The average acquisition cost for repurchased shares amounts to SEK 25.57 per share. The quotient value per share is SEK

2.11. At the end of December 2009 the incentive programme was terminated with the 2006 award. The strike price was higher than the share price at the time of redemption so the call options expired without value.

Risks and uncertainty factors

The most important risk factors for the Group are the state of the economy, structural changes in the market, supplier and customer dependence, the competitive situation and foreign exchange trends. A broad and general downward economic trend and increased uncertainty have affected demand for most of the Group's companies. The Group has therefore taken a number of steps with respect to costs, working capital and capital expenditures and there is growing vigilance concerning the future development. Reference is made to the 2008/09 Annual Report for additional detail. The Parent Company is affected by the above mentioned risks and uncertainty factors by virtue of its function as owner of its subsidiaries.

Related party disclosures

Transactions between Lagercrantz and related parties that have had a significant effect on the Group's financial position and profit have not occurred.

Annual General Meeting 2010

The 2010 Annual General Meeting will be held 31 August 2010 at IVA konferenscenter, Grev Turegatan 16, Stockholm. In order to bring a matter before the Annual General Meeting, a request must be received from the shareholder not later than by 18 June 2010. Such request should be sent to the Company for forwarding to the Board of Directors.

The Annual Report will be published at the end of June 2010 and will be available on the website.

Notice for the Annual Meeting will be advertised not later than six weeks before the Meeting in Dagens Industri and Post- och Inrikes Tidningar, and will also be published on the Company's website. All shareholders whose names are entered in the share register five days before the Annual Meeting may participate in person or by proxy. Notice must be given in accordance with instructions contained in the notice.

The Annual Meeting appoints the Company's Board of Directors and determines the fees to be paid. The Annual Meeting also adopts the financial statements and resolves the disposition of earnings and discharge form liability for the

Board of Directors and the chief executive. The Annual Meeting also resolves the form of how a nomination committee should be appointed and also resolves any mandates or authorisations for the Board of Directors.

Dividend

The Board of Directors propose a dividend of SEK 1.50 (1.50) per share. This is equivalent to a total of MSEK 33 $(33)$ .

Accounting policies

This Interim Report for the Group has been prepared in accordance with IAS 34 Interim Financial Reporting. The interim report for the Parent Company has been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Securities Market Act, which is accordance with the provisions of RFR 2.2 Accounting for legal entities. For the Group and the Parent Company the same accounting principles and calculation methods have been applied as in the most recent Annual Report.

Starting in 2009/10, the Group applies IFRS 8 Operating segments and amendments to IAS 8 Presentation of Financial Statements, IAS 23 Borrowing Costs and IAS 27, which deals with matters such as reporting of dividend income from subsidiaries. None of these have a significant effect on the Group's reports or any effect on profit and financial position.

Events after the balance sheet date

Swedish company Norwesco AB was acquired on 3 May 2010. Norwesco develops, manufactures and markets a niche line of products for the electronics and construction industries. Norwesco had sales of approximately MSEK 50 in 2009 with good profitability. The company is headquartered in Täby and production takes place in Öregrund. The company will be a part of division Mechatronics. The acquisition is expected to make a small positive contribution to the group's earnings per share during the financial year 2010/11.

Jörgen Wigh President & Chief Executive Officer

This information is published in accordance with the Swedish securities market act, the Swedish act on trading in financial instruments, or the body of regulations at Nasdaq OMX Stockholm. The information was submitted for publication at 12:30 p.m., 2010-05-11.

Review Report

We have performed a review of the twelve-month period covered by the interim report for Lagercrantz Group AB as of 31 March 2010. The preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act are the responsibility of the Board of Directors and the President. Our responsibility is to express an opinion on the basis of our review.

Focus and scope of the review

We have performed our review in accordance with the Standard for Review, SÖG 2410 Review of interim financial information performed by the company's elected auditor. A review comprises making inquiries, primarily of individuals responsible for financial and accounting matters, and performing analytical procedures and other review procedures. A review has a different focus and significantly smaller scope compared with an audit in accordance with Auditing Standards in Sweden (RS) and generally accepted auditing standards in other respects. Given the procedures performed in a review, it is not possible for us to obtain such a degree of assurance that we would become aware of all important circumstances which could have been identified had an audit been performed. Therefore, the opinion expressed on the basis of a review does not have the assurance of an opinion based on an audit.

Conclusion

Based on our review, no circumstances have come to our attention which would give us reason to consider that this interim report has not, in all material respects, been prepared, as far as the group is concerned, in accordance with IAS 34 and the Swedish Annual Accounts Act and, as far as the parent company is concerned, in accordance with the Swedish Annual Accounts Act.

Stockholm, 11 May 2010 KPMG AB

Joakim Thilstedt Authorised Public Accountant

Segment information per quarter

NET REVENUE				2009/10				2008/09
MSEK	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Electronics	135	132	136	149	187	181	176	183
Mechatronics	124	149	120	118	140	163	159	166
Communications	176	167	147	167	201	213	186	183
Parent company/Consolidation items	-	-	0	-	-	-	-	-
GROUP TOTAL	435	448	403	434	528	557	521	532
OPERATING PROFIT				2009/10				2008/09
MSEK	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Electronics	7	5	2	3	7	3	6	8
Mechatronics	8	9	8	5	4	13	17	15
Communications	11	10	5	8	7	17	16	12
Parent company/Consolidation items	-4	-4	-3	-3	-8	-3	-7	-2
GROUP TOTAL	22	20	12	13	10	30	32	33

Consolidated income statement

MSEK	3 months Jan–Mar 2009/10	3 months Jan–Mar 2008/09	Financial year Apr–Mar 2009/10	Financial year Apr–Mar 2008/09
Net revenue	435	528	1,720	2,138
Cost of goods sold	-317	-398	-1,265	-1,576
GROSS PROFIT	118	130	455	562
Selling costs	-67	-76	-257	-302
Administrative expenses	-26	-45	-120	-157
Research and development expenses	-5	-4	-13	-10
Other operating income and operating expenses	2	5	2	12
OPERATING PROFIT	22	10	67	105
(of which depreciation)	(-6)	(-7)	(-25)	(-25)
Net finance items	-3	-5	-9	-11
PROFIT AFTER FINANCE ITEMS	19	5	58	94
Taxes	-6	-1	-16	-26
NET PROFIT FOR THE PERIOD	13	4	42	68

Earnings per share, SEK	0.59	0.18	1.91	3.05
Earnings per share after dilution, SEK	0.59	0.18	1.91	3.05

Number of shares outstanding after repurchases ('000)	21,978	21,978	21,978	22,287
Weighted number of shares outstanding after repurchases ('000)	21,978	21,978	21,978	22,287
Number of shares outstanding after period's repurchases ('000)	21,978	21,978	21,978	21,978

Consolidated statement of recognised

income and expense

MSEK	3 months Jan–Mar 2009/10	3 months Jan–Mar 2008/09	Financial year Apr–Mar 2009/10	Financial year Apr–Mar 2008/09
Net profit for the period	13	4	42	68
Other total profit
Change in fair value of hedging reserve	0	-1	1	-3
Change in translation reserve	-16	-1	-34	39
RECOGNISED RESULT FOR THE PERIOD	-3	2	9	104

Statement of consolidated financial position

MSEK	2010-03-31	2009-03-31
ASSETS
Goodwill	179	192
Other intangible non-current assets	104	114
Tangible non-current assets	51	56
Financial non-current assets	17	23
Inventories	177	240
Short-term receivables	326	364
Cash and cash equivalents	29	60
TOTAL ASSETS	883	1,049

SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	494	518
Long-term liabilities	81	162
Current liabilities	308	369
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	883	1,049

Interest-bearing assets	29	60
Interest-bearing liabilities	67	138

Consolidated cash flow statement

			Financial	Financial
		3 months 3 months	year	year
	Jan–Mar	Jan–Mar	Apr–Mar	Apr–Mar
MSEK	2009/10	2008/09	2009/10	2008/09
Operating activities
Result after finance items	19	5	58	94
Adjustment for paid taxes, items not included in cash flow, etc.	3	10	-2	1
Cash flow from operating activities before changes in working capital	22	15	56	95

Cash flow from changes in working capital
Increase(–)/Decrease(+) in inventories	19	42	54	17
Increase (–)/Decrease (+) in operating receivables	0	31	16	95
Increase (+)/Decrease (-) in operating liabilities	1	-32	-39	-70
Cash flow from operating activities	42	56	87	137
Investing activities
Investments in businesses	-1	-10	-2	-57
Investment in/disposals of other non-current assets, net	-4	-2	-16	-20
Cash flow from investing activities	-5	-12	-18	-77
Financing activities
Dividend & repurchase of own shares	0	0	-33	-45
Financing activities	-61	-74	-66	-32
Cash flow from financing activities	-61	-74	-99	-77

CASH FLOW FOR THE PERIOD	-24	-30	-30	-17
Cash and cash equivalents at the beginning of the period	54	93	60	79
Exchange rate differences in cash and cash equivalents	-1	-3	-1	-2
Cash and cash equivalents at the end of the period	29	60	29	60

Consolidated statement of changes in equity

MSEK	Apr–Mar 2009/10	Apr–Mar 2008/09
Opening balance	518	459
Dividend	-33	-34
Repurchase of own shares	-	-11
Recognised result for the period	9	104
Closing balance	494	518

Key financial indicators

		Financial year
	2009/10	2008/09	2007/08	2006/07	2005/06
Revenue	1,720	2,138	2,172	1,974	1,608
Change in revenue, %	-19.6	-1.6	10.0	22.8	5.9
Profit after taxes	42	68	91	65	39
Operating margin,%	3.9	4.9	6.0	5.0	3.5
Profit margin,%	3.4	4.4	5.6	4.6	3.4
Equity ratio,%	56	49	44	39	52
Return on capital employed, %	11	17	21	18	13
Return on equity, %	8	14	21	16	10
Debt equity ratio	0.1	0.3	0.4	0.6	0.1
Net debt equity ratio	0.1	0.2	0.2	0.4	0.0
Times interest earned	6	7	9	9	14
Net interest-bearing liabilities (+)/receivables (–), MSEK	38	78	93	161	-9
Number of employees at end of period	608	742	763	751	541
Revenue outside Sweden, MSEK	1,155	1,486	1,496	1,352	1,053

Per-share data

	Financial year
	2009/10	2008/09	2007/08	2006/07	2005/06
Number of shares outstanding at end ofperiod after repurchases ('000)	21,978	21,978	22,478	23,678	23,678
Weighted number of shares outstanding after repurchases ('000)	21,978	22,287	23,212	23,678	23,923
	21,978	22,287	23,212	23,678	23,923
Operating profit per share, SEK	3.05	4.71	5.64	4.18	2.38
Earnings per share, SEK	1.91	3.05	3.92	2.75	1.63
	1.91	3.05	3.92	2.75	1.63
Cash flow from operations per share, SEK	3.96	6.15	5.17	3.21	3.59
Cash flow per share, SEK	-1.37	-0.76	-0.60	1.69	-1.00
Equity per share, SEK	22.50	23.60	20.40	18.20	16.60
Latest market price per share, SEK	31.50	23.50	28.80	33.50	30.10

Definitions will be found in the 2008/09 Annual Report.

Parent company income statement

MSEK	3 months Jan-Mar 2009/10	3 months Jan-Mar 2008/09	Financial year Apr-Mar 2009/10	Financial year Apr-Mar 2008/09
Net revenue	6	6	22	26
Administrative expenses	$-10$	-5	$-34$	$-32$
Other operating income and operating expense	$\Omega$	$\Omega$	$\Omega$	0
OPERATING RESULT	$-4$		$-12$	-6
Financial income	$\Omega$		88	146
Financial expense	$-3$	$-54$	$-16$	$-63$
PROFIT AFTER FINANCE ITEMS	$-7$	-52	60	77
	$-2$	0	$-2$
Taxes	$\overline{2}$	$\Omega$	5	3
NET PROFIT FOR THE PERIOD	$-7$	-52	63	80

Parent company balance sheet

	2010-03-31	2009-03-31
ASSETS
Tangible non-current assets	0	0
Financial non-current assets	586	611
Short-term receivables	51	52
Cash and cash equivalents	$\Omega$
TOTAL ASSETS	637	670
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	485	435
	3	$\Omega$
Long-term liabilities	39	123
Current liabilities	110	112
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	637	670

Pledged assets and contingent liabilities	30	50

Reporting schedule

Annual Report for 2009/10
Quarterly Report Q1 for the period 1 April 2010–30 June 2010
Annual General Meeting 2010
9 November 2010 Quarterly Report for the period 1 April 2010-30 September 2010
Quarterly Report Q3 for the period 1 April 2010-31 December 2010

For additional information, contact

Jörgen Wigh, President and CEO, telephone +46 (0)8-700 66 70 Niklas Enmark, Executive vice president and CFO, telephone +46 (0)8-700 66 70

Lagercrantz Group AB (publ)

Box 3508, 103 69 Stockholm, Sweden Telephone +46 (0)8-700 66 70 • Telefax +46 (0)8-28 18 05 Corporate identity no 556282-4556 www.lagercrantz.com