RTX — Interim / Quarterly Report 2013

May 19, 2014

(THE PERIOD 1 JANUARY 2014 TO 31 MARCH 2014)

INTERIM REPORT FOR THE SECOND QUARTER OF 2013/14

Announcement no. 28/2014

HIGHLIGHTS

GROWTH IN TURNOVER GIVES CONSIDERABLE INCREASE IN OPERATING PROFITS IN THE SECOND QUARTER

The Supervisory Board of RTX A/S has today considered and adopted the Group's interim report for the second quarter of the financial year 2013/14 (covering the period 1 January to 31 March 2014).

SUMMARY OF THE INTERIM REPORT OF THE RTX GROUP FOR THE SECOND QUARTER OF 2013/14

• Group revenue amounts to DKK 75.4 million in the second quarter of 2013/14 compared to DKK 59.2 million in the same period last year. The growth in revenue of 27.2% is primarily caused by increased sales in Enterprise & VoIP, where revenue increased by 42.0%, and the business unit Design Services realized a growth in revenue of 2.8%.
• The Group's gross profit increased from DKK 34.0 million to DKK 42.3 million, but due to the mix in revenue the Group's gross margin decreased slightly in the second quarter of 2013/14 to 56.1% compared to 57.4% last year.
• Capacity costs in the second quarter were on par with last year.
• As scheduled the depreciation on intangible assets increased in the second quarter of 2013/14 by DKK 0.4 million compared to the same period last year.
• Operating profit (EBIT) amounts to DKK 10.7 million compared to DKK 3.1 million last year.
• Profit after tax amounts to DKK 10.1 million compared to DKK 3.0 million in the same period last year.
• The Group's total cash flow in the second quarter was DKK 9.0 million compared to negative DKK 1.5 million in the same period last year.
• The development in the second quarter substantiates the revised announced expectations for the financial year 2013/14 (ref. announcement no. 17/2014 dated 27 March 2014), which are therefore maintained.

SUMMARY OF THE FIRST HALF-YEAR OF 2013/14 FOR THE RTX GROUP

• Revenue amounts to DKK 144.0 million in the first half-year of 2013/14 compared to DKK 109.8 million in the same period last year equivalent to an increase of 31.1%.
• The Group's gross profit increased from DKK 63.8 million to DKK 80.4 million, but due to the mix in revenue the Group's gross margin decreased slightly in the first half-year of 2013/14 to 55.9% compared to 58.1% in the same period last year.
• Capacity costs in the first half-year were slightly below last year's level.
• Operating profit (EBIT) amounts to DKK 19.5 million compared to DKK 4.2 million last year.
• The Group's total cash flow in the first half-year was DKK 14.3 million compared to DKK 3.2 million in the same period last year.

After the first six months of the financial year RTX has experienced an increase in orders and forecasts from our major customers compared to Management's expectations announced in connection with the published annual report (ref. announcement no. 13/2013 dated 6 December 2013). Based on this increase Management raised expectations for revenue and EBIT for the financial year 2013/14 by the end of March 2014, so revenue for 2013/14 is now expected in the range of DKK 285-300 million, EBIT in the range of DKK 30-38 million and EBITDA in the range of DKK 38-46 million (ref. announcement no. 17/2014 dated 27 March 2014). Particularly the order intake and received customer forecasts in the business unit Enterprise & VoIP are developing better than anticipated. Also in the business unit Design Services the order book is developing positively within the consultancy business.

Yours sincerely RTX A/S

Peter Thostrup Flemming Hynkemejer Chairman President & CEO

Questions and further information: President & CEO Flemming Hynkemejer, tel. +45 96 32 23 00.

Meeting for investors and analysts

On 13 June RTX participates in SEB's annual Small- & Mid Cap seminar in SEB-Huset, Bernstorffsgade 50, DK-1577 Copenhagen V. Registration via e-mail to: selma.dizdarevic@seb.dk

GROUP FINANCIAL HIGHLIGHTS AND KEY RATIOS (NOT AUDITED)

Amounts in million DKK	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
INCOME STATEMENT ITEMS
Revenue	75.4	59.2	144.0	109.8	241.5
Gross profit	42.3	34.0	80.4	63.8	138.8
EBITDA	13.0	5.0	24.2	7.9	22.1
Operating profit/loss (EBIT)	10.7	3.1	19.5	4.2	14.4
Net financials	-0.5	-0.1	-1.7	0.1	-1.6
Profit/loss before tax (EBT)	10.2	3.0	17.9	4.3	12.8
Profit/loss for the period, discontinued activities	0	0	0.7	0	0
Profit/loss for the period	10.1	3.0	18.6	4.3	32.6
BALANCE SHEET ITEMS
Cash and current asset investments	78.4	46.3	78.4	46.3	70.8
Total assets	255.3	211.9	255.3	211.9	250.5
Equity	192.2	154.9	192.2	154.9	176.3
Liabilities	63.1	56.9	63.1	56.9	74.2
OTHER KEY FIGURES
Development costs (own) before capitalization	4.9	6.0	9.8	14.0	24.0
Capitalized development costs	0	0	0	1.2	1.2
Depreciation, amortization and impairment	2.3	1.9	4.6	3.7	7.7
Cash flow from operations	9.0	-1.5	14.3	3.2	32.1
Cash flow from investments	-1.2	14.0	-2.8	13.5	14.6
Investments in property, plant and equipment	1.2	0.1	2.8	0.5	0.9
Increase/decrease in cash and cash equivalents	2.9	6.0	7.0	9.9	33.9
KEY RATIOS
Growth in net turnover (percentage)	27.2	27.1	31.1	20.7	26.3
Profit margin (percentage)	14.2	5.1	13.6	3.8	6.0
Return on invested capital (percentage)	7.5	4.1	13.3	6.4	10.7
Return on equity (percentage)	5.8	1.9	10.7	2.7	19.6
Equity ratio (percentage)	75.3	73.1	75.3	73.1	70.4
EMPLOYMENTS
Average number of full-time employees	155	160	155	165	158
Revenue per employee 1) (DKK '000)	486	370	929	665	1,528
Operating profit/loss per employee 1) (DKK '000)	69	19	126	25	91
SHARES
Average number of shares in circulation ('000)	8,581	9,154	8,627	9,154	8,973
Average number of diluted shares ('000)	9,303	9,327	9,349	9,327	9,796
SHARE DATA, DKK PER SHARE AT DKK 5
Profit/loss for the period (EPS) 1)	1.2	0.3	2.2	0.5	3.6
Profit/loss for the period, diluted (DEPS) 1)	1.1	0.3	2.0	0.5	3.3
Dividends	4.3	0	4.3	0	0
Equity value	22.4	17.6	22.3	17.6	20.6
Listed price	38.9	12.7	38.9	12.7	19.8

Note: The Group's financial year runs from 1 October to 30 September.

Definitions of the key ratios used are stated in the annual report for 2012/13 in the accounting policies.

1) Not annualized.

MANAGEMENT'S REVIEW

COMMENTS ON THE DEVELOPMENT IN THE SECOND QUARTER OF THE FINANCIAL YEAR 2013/14

ACTIVITIES

Enterprise & VoIP realized an increase in revenue in the second quarter of 2013/14 of DKK 15.3 million equivalent to 42%. The increase comes from higher sales to the major Enterprise customers, Alcatel Lucent and NEC, and the revenue from the sale of the telephone concept for hearing aid users that RTX launched by the end of the financial year 2012/13 in cooperation with a manufacturer of hearing aids. In the quarter the business unit has achieved a significant new order ensuring the future expansion of the distribution platform for the company's VoIP platform.

In the second quarter the business unit Design Services realized revenue of DKK 22.7 million, equivalent to an increase of 2.8% compared to last year. The sales efforts have previously been aimed at geographical areas, but sales have now been oriented more with a market segment approach, and this has resulted in a growth in the core business of customer financed development projects. Among other achievements the business area has in the quarter obtained a significant order within the market segment "Audio" from JVC-Kenwood in Japan. Revenue from the sale of the customized modules (the ODM business) developed better than last year, whereas the business unit's sale of test solutions in the second quarter has not lived up to last year's revenue.

COMMENTS ON GROUP FINANCIAL FIGURES FOR THE SECOND QUARTER OF 2013/14

In the second quarter of 2013/14 the Group realized revenue of DKK 75.4 million compared to DKK 59.2 million in the same period last year equal to an increase of 27.2%. Enterprise & VoIP realized revenue of DKK 51.9 million equal to an increase of 42.0%. Design Services realized revenue of DKK 22.7 million equal to an increase of 2.8%.

The increased revenue resulted in a growth in the gross profit of DKK 8.2 million in the second quarter of 2013/14. As the increase in revenue comes from the sale of products, the gross margin has slightly decreased, and the Group's gross margin decreased from 57.4% in the second quarter of 2012/13 to 56.1% in the second quarter of 2013/14.

Other external costs and staff costs amounted to a total of DKK 29.2 million which was the same level as the year before.

Development costs amounted to DKK 4.9 million in the second quarter compared to the year before, when they amounted to DKK 6.0 million. Development costs for own financed development decreased by DKK 1.1 million. This is mainly due to an increased demand for customized solutions with continuous payments from the customers.

As scheduled the provision for depreciation on intangible assets increased from DKK 1.9 million in the second quarter of 2012/13 to DKK 2.3 million in the second quarter of 2013/14. The increase is caused by depreciations on intangible development assets.

Operating profit (EBIT) for the second quarter of 2013/14 amounted to DKK 10.7 million compared to DKK 3.1 million in the same period last year.

Net financials amounted to a cost of DKK 0.5 million compared to a cost of DKK 0.1 million in the same period last year. The change is primarily due to USD exchange rate fluctuations. Income from interests is slightly lower in the quarter compared to last year, as the company reduced its holding of bonds in the second quarter of 2012/13.

The Group profit before tax for the second quarter of 2013/14 amounted to a profit of DKK 10.2 million compared to a profit of DKK 3.0 million in the same period last year.

The Group profit after tax amounted to DKK 10.1 million in the second quarter of 2013/14 compared to DKK 3.0 million in the same period last year.

In the second quarter of 2013/14 the Group's equity was influenced by the decision made on the general assembly to initiate a share buy-back programme and pay dividends. Under the current share buy-back programme 48,955 treasury shares were acquired at a total value of DKK 1.7 million in the second quarter of 2013/14. The equity ratio is 75.3%, which is an increase of 2.2 percentage points compared to the same time last year.

By the end of the second quarter the Group's total assets amounted to DKK 255.3 million. This is an increase of DKK 43.4 million compared to the same time last year. The increasing assets are due to a decrease in the intangible assets of DKK 7.4 million and an increase in other long-term assets of DKK 19.5 million partly caused by the tax asset included in the fourth quarter of 2012/13. In total the short-term current assets increased by DKK 31.0 million because of the increase in cash and cash equivalents.

In the second quarter of 2013/14 the Group realized a positive cash flow from operations of DKK 9.0 million compared to a negative cash flow of DKK 1.5 million in the second quarter of 2012/13. In continuation of actions for the shareholders decided at the company's general assembly, the Group's cash flow from the financial activities were influenced by DKK 4.9 million in the second quarter of 2013/14. The Group's cash and short-term asset investments less bank debt amounted to DKK 78.4 million at the end of the quarter, equal to an increase of DKK 32.2 million compared to the same period last year.

PROSPECTS FOR THE FINANCIAL YEAR 2013/14

After the first six months of the financial year RTX has experienced an increase in orders and forecasts from our major customers compared to Management's expectations announced in connection with the published annual report. Based on this increase Management raised expectations for revenue and EBIT for the financial year 2013/14 by the end of March 2014, so revenue for 2013/14 is now expected in the range of DKK 285-300 million, EBIT in the range of DKK 30-38 million and EBITDA in the range of DKK 38-46 million (ref. announcement no. 17/2014 dated 27 March 2014).

RISKS AND UNCERTAINTIES RELATING TO THE REST OF THE FINANCIAL YEAR 2013/14

Statements about the future

The above statements on the Group's future conditions, including in particular future revenue and operating profit/loss (EBIT), reflect the Management's current expectations and are subject to risks. These statements might be influenced by a number of risks and uncertainty factors, and consequently, the actual development might be different from the expectations indicated. These risks and uncertainty factors include – but are not limited to include – a number of factors such as general business and financial conditions, dependence on co-operators, delivery time of components, integration of acquired enterprises as well as exchange rate and interest rate fluctuations.

FINANCIAL CALENDAR

Expected dates for announcement of financial information until January 2015:

29 August 2014	Interim report for third quarter of 2013/14
28 November 2014	Annual report for 2013/14
January 2015	Interim report for the first quarter of 2014/15 and Annual General Meeting

STATEMENT BY THE MANAGEMENT ON THE INTERIM REPORT

The Supervisory Board and the Executive Board have today considered and adopted the interim report of RTX A/S for the second quarter of the financial year 2013/14 (covering the period 1 January to 31 March 2014).

The interim report has been prepared in accordance with IAS 34, Interim Financial Reporting, as adopted by the EU and further Danish disclosure requirements for interim reporting for listed companies. The interim report has not been audited or reviewed by the Company's auditor.

We consider the applied accounting policies appropriate for the interim report to provide, in our opinion, a true and fair view of the Group's assets, liabilities and financial position as of 31 March 2014 and of its financial performance and cash flow for the second quarter of 2013/14.

We consider Management's review to give a true and fair view of the Group's activities and finances, profit/loss for the period and the Group's financial position as a whole, as well as a true and fair description of the most material risks and uncertainties facing the Group.

Nørresundby, 19 May 2014

EXECUTIVE BOARD

Flemming Hynkemejer President & CEO

SUPERVISORY BOARD

Peter Thostrup Jesper Mailind Chairman of the Board Deputy Chairman

Jørgen Dalby-Jakobsen Rune Strøm Jensen Employee representative Employee representative

Jens Hansen Katrin Calderon Thomas Sieber

GROUP INCOME STATEMENT (NOT AUDITED)

Amounts in DKK '000	Note	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
Revenue	3	75,365	59,248	143,968	109,778	241,488
Value of work transferred to assets	4	0	0	0	1,242	1,242
Costs of sales etc.		-33,082	-25,223	-63,560	-45,943	-102,692
Other external expenses		-5,666	-6,463	-12,069	-12,698	-27,106
Staff costs		-23,581	-22,602	-44,168	-44,447	-90,752
Depreciation, amortization and impairment	4	-2,335	-1,909	-4,628	-3,729	-7,746
Operating profit/loss (EBIT)		10,701	3,051	19,543	4,203	14,434
Financial income	5	43	70	90	434	299
Financial expenses	5	-542	-148	-1,748	-302	-1,940
Profit/loss before tax		10,202	2,973	17,885	4,335	12,793
Tax of profit/loss for the period		-93	-19	-2	-51	19,847
Profit/loss for the period after tax		10,109	2,954	17,883	4,284	32,640
Profit/loss from discontinued operations		0	0	745	0	0
Profit/loss for the period		10,109	2,954	18,628	4,284	32,640
Profit/loss per share (EPS)
Profit/loss for the period (DKK)		1.2	0.3	2.2	0.5	3.6
Profit/loss for the period, diluted (DKK)		1.1	0.3	2.0	0.5	3.3

GROUP BALANCE SHEET (NOT AUDITED)

Amounts in DKK '000	31 March 2014	31 March 2013	30 Sept. 2013
Assets
Own development projects	6,495	5,606	9,749
Ongoing development projects	0	8,266	0
Goodwill	7,797	7,797	7,797
Intangible assets	14,292	21,669	17,546
Land and buildings	73,671	73,384	72,811
Plant and machinery	324	404	346
Other fixtures and fittings, tools and equipment, etc.	1,066	689	521
Leasehold improvements	335	615	462
Tangible assets	75,396	75,092	74,140
Investments in subsidiaries	0	0	0
Deposits	361	420	368
Deferred tax assets	19,567	0	19,579
Other long-term assets	19,928	420	19,947
Total long-term assets	109,616	97,181	111,633
Inventories	11,961	11,851	12,443
Trade receivables	47,080	44,950	42,725
Contract development projects in progress	5,440	7,564	3,071
Income taxes	0	1,061	1,250
Other receivables	442	751	7,290
Accruals	2,305	2,282	1,284
Receivables	55,267	56,608	55,620
Short-term current asset investments	35,427	34,251	34,771
Cash at bank and in hand	43,029	11,961	35,988
Total short-term assets	145,684	114,671	138,822
Total assets	255,300	211,852	250,455

GROUP BALANCE SHEET (NOT AUDITED)

Amounts in DKK '000	31 March 2014	31 March 2013	30 Sept. 2013
Equity and liabilities
Share capital	47,677	47,170	47,170
Share premium account	301,752	301,166	301,166
Retained earnings	-157,258	-191,932	-170,760
Equity belonging to the Parent's shareholders	192,171	156,404	177,576
Minority interests	0	-1,462	-1,272
Equity	192,171	154,942	176,304
Mortgage debt	11,510	12,815	12,156
Provisions	560	1,335	671
Employee bonds	0	1,855	1,855
Long-term liabilities	12,070	16,005	14,682
Current portion of long-term mortgage debt	1,307	1,284	1,303
Trade payables	17,109	15,912	23,008
Contract development in progress	2,642	1,450	2,814
Income taxes	482	225	683
Provisions	2,904	1,775	4,979
Employee warrants	1,855	0	0
Other payables	24,760	20,259	26,682
Short-term liabilities	51,059	40,905	59,469
Total liabilities	63,129	56,910	74,151
Total equity and liabilities	255,300	211,852	250,455

EQUITY STATEMENT FOR THE GROUP (NOT AUDITED)

Amounts in DKK '000	Share capital	Share premium	Retained earnings	Minority interests	Total
Equity at 1 October 2012	47,170	301,166	-190,596	-1,419	156,321
Exchange rate adjustments of foreign subsidiaries	0	0	-499	-22	-521
Fair value adjustment of short-term current asset investments	0	0	592	0	592
Income and expenses recognized directly on equity	0	0	93	-22	71
Profit/loss for the period	0	0	4,305	-21	4,284
Total income for the period	0	0	4,398	-43	4,355
Share-based remuneration, incl. tax effect	0	0	476	0	476
Acquisition of treasury shares	0	0	-6,210	0	-6,210
Other transactions	0	0	-5,734	0	-5,734
Equity at 31 March 2013	47,170	301,166	-191,932	-1,462	154,942
Equity at 1 October 2013	47,170	301,166	-170,760	-1,272	176,304
Exchange rate adjustments of foreign subsidiaries etc.	0	0	-1,161	1,272	111
Fair value adjustment of short-term current asset investments	0	0	676	0	676
Income and expenses recognized directly on equity	0	0	-485	1,272	787
Profit/loss for the period	0	0	18,628	0	18,628
Total income for the period	0	0	18,143	1,272	19,415
Share-based remuneration incl. tax effect	0	0	1,037	0	1,037
Exploitation of warrants	507	586	0	0	1,093
Dividends for 2012/13	0	0	-4,284	0	-4,284
Acquisition of treasury shares	0	0	-1,394	0	-1,394
Other transactions	507	586	-4,641	0	-3,548
Equity at 31 March 2014	47,677	301,752	-157,258	0	192,171

Share capital of DKK 47,677,400 consists of 9,535,480 shares at DKK 5.

The Group holds 913,262 treasury shares at 31 March 2014 (610,964 shares at 31 March 2013).

There are no shares carrying special rights.

GROUP CASH FLOW STATEMENT (NOT AUDITED)

HIGHLIGHTS FINANCIAL HIGHLIGHTS AND KEY RATIOS MANAGEMENT'S REVIEW STATEMENT BY THE MANAGEMENT INTERIM FINANCIAL REPORT

Amounts in DKK '000	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
Operating profit/loss (EBIT)	10,701	3,051	19,543	4,203	14,434
Reversal of items with no effect on cash flow
Depreciation, amortization and impairment	2,335	1,909	4,628	3,729	7,746
Other items with no effect on cash flow	788	-688	-835	-1,812	-633
Change in working capital
Change in inventories	438	2,848	482	3,589	2,964
Change in receivables	-967	-12,143	353	-9,260	-8,805
Change in trade payable etc.	-3,687	3,652	-8,194	2,684	17,542
Cash flow from operating activities	9,608	-1,371	15,977	3,133	33,248
Financial income received	43	70	90	434	299
Financial expenses paid	-542	-148	-1,748	-302	-1,940
Income taxes paid	-93	-19	-2	-51	448
Cash flow from operations	9,016	-1,468	14,317	3,214	32,055
Acquisition of development projects	0	0	0	-1,242	-1,242
Acquisition of property, plant and equipment	-1,217	-51	-2,794	-524	-878
Acquisition of other long-term assets Income from sale of short-term asset investments	0	0	0	0	346
(more than 3 months)	0	11,918	0	12,251	11,928
Reimbursements, own development projects	0	2,167	0	3,000	4,412
Cash flow from investments	-1,217	14,034	-2,794	13,485	14,566
Capital increase related to incentive program	1,093	0	1,093	0	0
Repayment and redeption of long-term debt	-319	-326	-642	-633	-1,273
Dividends	-4,717	0	-4,717	0	0
Dividends of treasury shares	433	0	433	0	0
Acquisition of treasury shares	-1,394	-6,210	-1,394	-6,210	-11,465
Cash flow from financing activities	-4,904	-6,536	-5,227	-6,843	-12,738
Cash flow from discontinued activities	0	0	745	0	0
Change in cash and cash equivalents	2,895	6,030	7,041	9,856	33,883
Cash at the beginning of the period, net Cash at the end of the period, net	40,134 43,029	5,931 11,961	35,988 43,029	2,105 11,961	2,105 35,988
Cash at the end of the period, net, is composed as follows:
Cash at bank and in hand	43,029	11,961	43,029	11,961	35,988
Bank debt	0	0	0	0	0
Cash at the end of the period, net	43,029	11,961	43,029	11,961	35,988

NOTES

1. ACCOUNTING POLICIES

The interim report is presented in accordance with IAS 34, Interim Financial Reporting, and further Danish disclosure requirements for interim reporting for listed companies. An interim report has not been prepared for the Parent.

The accounting policies applied in this interim report are consistent with those applied in the Company's annual report for 2012/13, which was presented in accordance with International Financial Reporting Standards (IFRS) as adopted by the EU and additional Danish disclosure requirements for annual reports of listed companies. We refer to the annual report for 2012/13 for a more detailed description of the accounting policies.

The applied accounting policy is unchanged compared to the annual report for 2012/13. New or amended standards and interpretations becoming effective for the financial year 2013/14 have no material impact on the interim report.

2. ESTIMATES AND ASSUMPTIONS

The preparation of interim reports requires management to make financial estimates and assumptions that affect the application of accounting policy and recognised assets, obligations, income and expenses. Actual results might be different from these estimates.

The material estimates that management makes when applying the accounting principles of the Group, and the material uncertainty connected with these estimates and assumptions are unchanged in the preparation of the interim report compared to the preparation of the annual report as per 30 September 2013.

3. GROUP REVENUE

Amounts in DKK '000	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
Business segments
Design Services	22,696	22,079	45,425	43,158	98,986
Enterprise & VoIP	51,900	36,558	97,129	65,443	140,018
Undivided posts	769	611	1,414	1,177	2,484
Total	75,365	59,248	143,968	109,778	241,488
Geographical segments
Denmark	2,754	2,499	4,926	4,741	8,823
Other Europe	56,499	37,404	101,352	69,441	138,128
Asia and Australia	6,570	3,775	11,411	8,103	17,434
North- and South America	9,542	14,750	25,801	25,305	73,528
Africa	0	820	478	2,188	3,575
Total	75,365	59,248	143,968	109,778	241,488

Revenue is broken down by geographical area according to the customers' location.

NOTES

4. GROUP DEVELOPMENT COSTS

Amounts in DKK '000	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
Development costs before capitalization	4,928	6,049	9,785	14,018	24,022
Capitalized costs	0	0	0	-1,242	-1,242
Total amortization and impairment losses on development projects	1,627	1,258	3,254	2,414	5,125
Development costs recognized in the profit/loss account	6,555	7,307	13,039	15,190	27,905

5. GROUP FINANCIAL ITEMS

Amounts in DKK '000	Q2 2013/14	Q2 2012/13	H1 2013/14	H1 2012/13	FY 2012/13
Interest income	43	57	90	194	283
Exchange rate gains, net	0	0	0	227	0
Other financial income	0	13	0	13	16
Financial income	43	70	90	434	299
Interest cost	-63	-80	-129	-169	-306
Exchange rate loss, net	-413	-28	-1,535	0	-1,093
Other financial costs	-66	-40	-84	-133	-541
Financial expenses	-542	-148	-1,748	-302	-1,940

RTX A/S Stroemmen 6 DK-9400 Noerresundby Danmark

Tel : +45 96 32 23 00 Fax : +45 96 32 23 10 Web : www.rtx.dk E-mail : info@rtx.dk

VAT# : DK 17 00 21 47