Sectra — Interim / Quarterly Report 2008

Sep 9, 2008

Interim report for the first quarter of fiscal year 2008/2009:

Net sales continue to increase

For the first quarter, the Swedish IT and medical-technology company Sectra reported an increase in net sales of 16.1% to SEK 174.0 million (149.9). Profit after financial items increased 77.1% to SEK 6.2 million (3.5), corresponding to a profit margin of 3.6% (2.3). The Group's order bookings amounted to SEK 175.2 million (206.4).

Net sales for both medical systems and the secure communications systems business areas increased compared with the year-earlier period.

"Our transition to mainly selling medical IT systems on our own has been successful and direct sales continue to increase," says Jan-Olof Brüer, CEO and President of Sectra AB.

The expansion of the sales and support organizations for medical systems and increased production capacity for the mammography system Sectra MicroDose Mammography are the company's two largest and most costly investments.

"We are currently in an expansion phase and increased our workforce substantially during the quarter. Costs for the expansion of our international organization and the investment in production capacity for mammography modalities will influence our profit margin until our distribution channels for mammography products are completely built out," says Jan-Olof Brüer.

Growth in the markets for Sectra's products is favorable and the Board's assessment is that in the long-term, Sectra will continue to expand with favorable profitability.

For further information, please contact:

Jan-Olof Brüer, President and CEO, Sectra AB, tel: +46 (0)13-23 52 09

About the Sectra Group

Sectra successfully develops and sells cutting-edge products in the expansive niche segments of medical systems and secure communication systems. The company was founded in 1978 and has its roots in the Linköping University in Sweden. Today, Sectra has offices in eleven countries and operates through partners worldwide. Net sales in the 2007/2008 fiscal year totaled SEK 743 million. The Sectra share is quoted on the OMX Nordic Exchange in Stockholm. For more information about Sectra visit http://www.sectra.com.

The information in this press release is such that Sectra AB (publ) is obligated to disclose in compliance with the Swedish Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. The information was submitted for publication on September 9 at 08:30 (CET).

Sectra AB (publ)

www.sectra.se

Moms reg.nr SE556064830401

Interim report for Sectra AB (publ) for May – July 2008

The figures for the preceding year are shown in parentheses.

The quarter in brief

• Order bookings amounted to SEK 175.2 million (206.4).
• Net sales increased 16.1% to SEK 174.0 million (149.9).
• Profit after financial net increased 77.1% to SEK 6.2 million (3.5), corresponding to a profit margin of 3,6% (2.3).
• Profit after tax amounted to SEK 4.4 million (2.7).
• Earnings per share amounted to SEK 0.12 (0.07).

Events during the quarter

• Sectra took an important step into the public health market in Spain through an agreement with the healthcare provider SERGAS. The agreement includes systems for the management of radiology images (PACS) at five of the Galicia region's public hospitals, as well as service and support services.
• Sectra received an order from Region Skåne, a regional public body in Sweden, for the supply of an IT solution for radiology information, Sectra Master Examination Index, which facilitates efficient cooperation inside and outside the region.
• The Brussels Menopause Center, a Belgian private clinic for women's health, became the first to offer women in Brussels mammography at the market's lowest radiation dose when the clinic invested in Sectra's digital mammography system.
• Sectra received the assignment from FMV, the Defense Matériel Administration, to supply an encrypting solution for secure voice communication for the police, coast guard and the Swedish Armed Forces in the national radio system, Rakel, which uses the TETRA radio technology.
• Sectra launched support for the satellite system, Iridium, in the Tiger system. Iridium is the largest commercial satellite system and is used by government and defense organizations worldwide.

Sectra AB (publ)

Teknikringen 20 583 30 Linköping Tel: 013 23 52 00 Fax: 013 21 21 85 info@sectra.se www.sectra.se

Moms reg.nr SE556064830401

Order bookings, net sales and earnings

First quarter

The Group's order bookings amounted to SEK 175.2 million (206.4). The order bookings in the North American market did not reach the same level as the year-earlier period when a fiveyear service contract was signed with New York City Health and Hospital Cooperation, the single largest healthcare provider in the US. Demand for Sectra's products is strong, but variations in the order volumes in terms of individual quarters are significant.

Net sales for the quarter rose 16.1% to SEK 174.0 million (149.9). Revenues increased for both Medical systems and Secure communications systems compared with the year-earlier period.

Profit after net financial items increased 77.1% to SEK 6.2 million (3.5), corresponding to a profit margin of 3.6% (2.3). Profit after tax increased 63.0% to SEK 4.4 million (2.7). Earnings per share amounted to SEK 0.12 (0.07). The operating margin for the quarter were influenced by increased costs within the Medical systems business area.

International markets represent 68.0% of the net sales for the quarter and sales in these markets occur primarily in USD and EUR. Currency rate changes had a positive impact on the consolidated profit after financial items by approximately SEK 1.7 million.

Seasonal variations

Traditionally, Sectra has seasonal variations in which the fiscal year begins with low sales. As a rule, most of the invoicing and earnings occur in the third and fourth quarters.

Net sales by business segment 12-month figures

Net sales by geographical market 12-month figures

Net sales by business segment
(SEK million)	3 months	3 months	12 months	Full year
	May 2008	May 2007	Aug. 2007-	May–Apr.
	–July 2008	–July 2007	July 2008	2007/2008
Medical systems	152.6	136.2	676.0	659.6
Secure communication
systems	21.3	14.7	101.9	95.3
Other 1)	6.4	5.6	23.7	22.9
Group eliminations	-6.3	-6.6	-34.6	-34.9
Total	174.0	149.9	767.0	742.9

Sectra AB (publ)

Teknikringen 20 583 30 Linköping

Tel: 013 23 52 00

Fax: 013 21 21 85

info@sectra.se

www.sectra.se

Moms reg.nr SE556064830401

Operating profit/loss by business segment

(SEK million)	3 months	3 months	12 months	Full year
	May 2008	May 2007	Aug. 2007-	May–Apr.
	–July 2008	–July 2007	July 2008	2007/2008
Medical systems	0.3	1.7	63.6	65.0
Secure communication
systems	3.7	0.9	16.6	13.8
Other 1)	-2.5	-0.7	1.2	3.0
Group eliminations	-0.6	-0.6	-2.1	-2.1
Total	0.9	1.3	79.3	79.7

1) Other refers primarily to the Parent Company's debiting of Group-wide services and asset management.

Net sales by geographical market
(SEK million)	3 months	3 months	12 months	Full year
	May 2008	May 2007	Aug. 2007-	May–Apr.
	–July 2008	–July 2007	July 2008	2007/2008
Sweden	55.6	47.2	255.2	246.8
Rest of Europe	74.7	55.4	282.9	263.6
North America	41.9	38.4	207.7	204.2
Rest of world	1.8	8.9	21.2	28.3
Total	174.0	149.9	767.0	742.9

Medical systems

Market

The market for Sectra's medical systems is growing as an increasing number of hospitals choose to improve the efficiency of their radiology operations by introducing digital systems for image and information processing. To meet demand on the market, Sectra continues with investments to expand the distribution network and service organization.

More than 45 million radiology examinations are carried out in the company's system annually, making Sectra one of the world's leading suppliers of systems for managing digital radiology images (PACS). As the number of installations of Sectra medical systems grows, revenue from service and upgrade contracts also increases. At the same time, there has been an increase in the portion of contracts in which customers undertake to pay continuously for the use of the system during a long period instead of paying an initial license fee. The largest portion of radiology clinics using Sectra's medical systems are in North America, the world's largest and one of the fastest-growing markets for medical IT.

Changed business mix

During the past fiscal year, Sectra's operations within medical systems have undergone two major changes that impacted profit margins. One of these was the expansion of Sectra's international sales and support organization as a result of the phasing out of the cooperation with Philips Medical Systems, and the other was the launch of Sectra MicroDose Mammography, which results in a larger element of manufacturing operations. Direct sales and the sale of mammography equipment have lower margins than the sale of software licenses through partners.

Application for approval to sell Sectra MicroDose Mammography in the US During the quarter, according to plan, Sectra submitted the final section of the application for the approval of the mammography system, Sectra MicroDose Mammography, to the American authority, FDA (Food and Drug Administration).

Sectra AB (publ)

Teknikringen 20 583 30 Linköping Tel: 013 23 52 00 Fax: 013 21 21 85 info@sectra.se www.sectra.se Moms reg.nr SE556064830401

Sales and earnings

Medical systems' net sales for the quarter rose 12.0% to SEK 152.6 million (136.2). This was primarily due to the increase in direct sales of IT systems for the management of radiology images, PACS, and increased revenues from service and upgrade contracts.

Operating profit for the quarter amounted to SEK 0.3 million (1.7), corresponding to an operating margin of 0.2% (1.2). The operating margin was primarily due to costs for the expansion of the organization in international markets, costs for the increase in production capacity for the mammography system and higher costs for hardware resulting from increased direct sales. The operating margin will continue to be influenced by costs for these investments until the distribution channels for mammography are fully built out.

Secure Communication Systems

Market

The European market for secure communication systems is characterized by demand for crypto products that supports international cooperation. Authorities and defense agencies cooperate increasingly across borders, and common norms and standards have developed to protect security classified EU information. Sectra is first in the market to supply EU-approved products for mobile voice communications at Secret UE security level. The products are used by customers in more than half of the EU's 27 member states.

Sales and earnings

Net sales for Secure communication systems in the quarter rose 44.9% to SEK 21.3 million (14.7). Operating profit increased to SEK 3.7 million (0.9), corresponding to an operating margin of 17.4% (6.1). This is a result of increased deliveries, compared with the year-earlier period.

Financial position

The equity/assets ratio at the end of the quarter was 60.4% (60.2) and liquidity was a multiple of 2.2 (2.4).

The company's interest-bearing liabilites amounted at the end of the period to SEK 45.8 million (48.0), of which SEK 44.9 million (46.1) pertains to convertible debentures.

Investments

Group investments during the quarter amounted to SEK 10.5 million (9.5). Major development projects within Medical systems are about to be completed and capitalized development expenditures during the quarter were SEK 4.3 million (6.8). At the end of the quarter, the capitalized development expenditures amounted to SEK 185.5 million (142.4).

Depreciation during the quarter amounted to SEK 8.4 million (5.2). The increase was due to higher depreciation on capitalized development projects that were completed and transferred to the delivery phase during the period.

Employees

The number of employees with full-time employment at Sectra increased during the quarter by 24 persons. At the end of the quarter, the number of employees totaled 530 (480).

The share

Sectra's share capital at the end of the period amounted to SEK 36,842,088. Full conversion and exercise of the incentive programs implemented will increase the number of shares by a maximum of 717,300, corresponding to 1.9% of the share capital and 1.2% of the voting rights. After full dilution, Sectra's share capital will amount to SEK 37,559,388.

Sectra AB (publ)

Teknikringen 20 583 30 Linköping Tel: 013 23 52 00 Fax: 013 21 21 85 info@sectra.se www.sectra.se Moms reg.nr SE556064830401

Incentive program

During the quarter, Sectra's 2005/2008 convertible loans issued to the Group's employees and external Board members, and 2005/2008 employee stock options issued to the Group's employees in the US fell due. No share conversions occurred and the convertible loan of SEK 11.7 million was repaid on the due date.

In June, the Annual General Meeting resolved in agreement with the proposal to issue convertibles to the Group's employees and external Board members. The convertibles can be subscribed during the period September 29 – October 10, 2008 and conversion to Series B shares may occur between May 23 – 27, 2011. In the event of full allotment the dilution effect would amount to a maximum of 1% of the share capital.

The Meeting also adopted the Board's proposal for the issue of an additional maximum of 100,000 employee stock options for the Group's employees in the US. If these employee stock options are exercised in full, employees will acquire shares in the company corresponding to approximately 0.3% of the share capital and 0.2% of the voting rights.

Authorization

In June, the General Meeting authorized the Board, for the period until the next Annual General Meeting, to approve the new issue of a maximum of 3,600,000 Series B shares for payment in cash, payment by set-off of claims or payment in kind. Such new issue may occur with deviation from the shareholders' preferential rights. If the authorization is fully utilized, the dilution effect will amount to approximately 10% of the share capital and approximately 6% of the voting rights.

Furthermore, the Meeting decided to authorize the Board to, on one or several occasions, during the period until the next Annual General Meeting, decide on the acquisition or transfer of own B shares held (tresurary stock). The authorization is limited so that the company's holding of treasury stock will not at any time exceed 10% of all shares in the company.

Risks and uncertainties

Sectra is, through its operations, exposed to business risks such as dependence on major customers and partners, the effect of the exchange rate of the USD on pricing in the markets in which the Group is active, and property and liability risks. In addition, Sectra is exposed to various types of financial risks such as currency, interest, loan and liquidity risks.

A detailed description of the risks and uncertainties, as well as Sectra's strategies and tactics for minimizing risk exposure and limiting adverse effects, is provided in the Group's Annual Report for 2007/2008 fiscal year, Note 28, page 46. No significant events have occurred that would alter the conditions reported therein.

Outlook

Sectra has a strong technical platform. The products and system solutions that Sectra develops are aimed at markets with high growth potential. The company's strong position in the home market provides a solid platform for ongoing international expansion.

Sectra's profitability target is to achieve a profit margin of more than 10% and the Board's assessment is that in the long-term, Sectra will continue to expand with favorable profitability. However, the Board assesses that profitability will be influenced by increased costs resulting from higher direct sales and the company's investments in expanding the sales and support organization internationally and by the investment in production capacity for mammography equipment until the distribution channels for mammography are fully built out.

Parent Company Sectra AB

The Parent Company includes head office functions such as Group finances and data administration as well as exchange, share and investor-related operations.

Net sales in the Parent Company Sectra AB for the quarter amounted to SEK 6.0 million (5.6). Profit after net financial items amounted to SEK 6.9 million (5.5).

The Parent Company's income statement and balance sheet are reported on page 9.

Sectra AB (publ)

Teknikringen 20 583 30 Linköping Tel: 013 23 52 00 Fax: 013 21 21 85 info@sectra.se www.sectra.se Moms reg.nr SE556064830401

Condensed income statement for the Group

	3 months	3 months	12 Months	Full-year
SEK thousands	May 2008	May 2007	Aug 2007 -	May–Apr
	– July 2008	– July 2007	July 2008	2007/2008
Net sales	173,976	149,908	766,991	742,923
Capitalized work for own use	4,256	6,759	55,344	57,847
Operating expenses	-168,928	-150,196	-718,465	-699,733
Depreciation	-8,427	-5,184	-24,582	-21,338
Operating profit	877	1,287	79,288	79,699
Net financial items	5,312	2,168	3,224	80
Profit after financial items	6,189	3,455	82,512	79,779
Tax on earnings for the period	-1,763	-746	-30,332	-29,315
Net profit	4,426	2,709	52,180	50,464
Profit attributable to equity holders
of the:
Parent Company	4,426	2,709	52,180	50,464
Minority interest	0	0	0	0
Earnings per share
Before dilution, SEK	0.12	0.07	1.42	1.37
After dilution, SEK	0.12	0.07	1.39	1.34
No. of shares at end of period
Before dilution	36,842,088	36,842,088	36,842,088	36,842,088
After dilution 1)	37,559,388	37,588,888,	37,559,388	37,559,388
Average, before dilution 2)	36,842,088	36,802,821	36,842,088	36,832,271
Average, after dilution 1) 2)	37,559,388	37,549,621	37,609,438	37,594,096

1) Dilution is based on the convertible debenture programs issued in 2006/2007 (266,800) and 2007/2008 (270,500) and the personnel options issued in 2006/2007 (80,000) and 2007/2008 (100 000).

2) Average number of shares has been adjusted for implemented share splits and share issues.

Earnings before tax

The bars show quarterly earnings before tax and the line 12 months earnings before tax.

Moms reg.nr SE556064830401 the line 12 months net sales.

www.sectra.se The bars show quarterly net sales and

Condensed consolidated balance sheet

SEK thousands	July 31, 2008	July 31, 2007	April 30, 2008
Assets
Intangible assets	215,844	164,199	217,638
Tangible assets	28,191	23,386	24,059
Financial assets	47,919	49,502	48,208
Total fixed assets	291,954	237,087	289,905
Other current assets	314,433	226,302	407,677
Cash and bank balances	304,292	381,404	288,358
Total current assets	618,725	607,706	696,035
Total assets	910,679	844,793	985,940
Equity and liabilities
Equity (including profit for the period)	550,472	508,240	560,670
Provisions	16,452	12,360	17,718
Deferred tax liabilities	29,390	25,854	28,659
Long-term liabilities	22,633	36,422	40,113
Current liabilities	291,732	261,917	338,780
Total equity and liabilities	910,679	844,793	985,940

Change in equity

	3 months	3 months	Full-year
SEK thousands	May 2008	May 2007	May–Apr
	– July 2008	– July 2007	2007/2008
Equity at start of period	560,670	519,406	519,406
New issue/conversion	-	4,197	4,197
Dividend paid	-18,421	-18,421	-18,421
Change in translation difference	2,419	-253	1,370
Share-based payments	1,378	602	3,655
Net earnings for the period	4,426	2,709	50,463
Equity at end of period	550,472	508,240	560,670

Condensed consolidated cash-flow statement

	3 months	3 months	Full-year
SEK thousands	May 2008	May 2007	May–Apr
	– July 2008	– July 2007	2007/2008
Cash flow from operations before changes in working capital	9,877	-475	84,704
Cash flow from operations after changes in working capital	40,698	23,214	8,677
Investing activities	-10,541	-9,521	-82,152
Financing activities	-14,201	-18,765	-30,054
Change in cash and bank balances	15,956	-5,072	-103,529
Cash and bank balances, opening balance	288,358	385,150	385,150
Exchange-rate difference in liquid assets	-22	1,326	6,737
Cash and cash equivalents, closing balance	304,292	381,404	288,358

Key figures

	3 months	3 months	12 months	Full year
	July 31,	July 31,	July 31,	Apr 30,
	2008	2007	2008	2008
Order bookings, SEK M	175.2	206.4	985.4	1 016.6
Equity/assets ratio, %	60.4	60.2	60.4	56.9
Liquidity, multiple	2.2	2.4	2.2	2.2
Profit margin %	3.6	2.3	10.8	10.7
Return on shareholders' equity %	-	-	9.4	9.3
Return on capital employed %	-	-	13.9	13.8
Return on total capital %	-	-	8.9	8.9
Value added, SEK M	88.6	79.3	438.9	429.6
Average number of employees	516	463	490	477
Equity per share, SEK	14.94	13.80	14.94	15.22
Equity per share after dilution, SEK	14.66	13.52	14.66	14.93
Cash flow per share, SEK	0.27	-0.01	2.58	2.31
Cash flow per share after dilution, SEK	0.26	-0.01	2.53	2.26
P/E ratio, multiple	-	-	36.7	42.7
Share price at end of period, SEK	52.0	60.0	52.0	58.5

Consolidated income statement, quarterly

				2008/2009				2007/2008				2006/2007
SEK M	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Net sales				174.0	224.5	189.3	179.2	149.9	204.7	169.4	163.5	134.9
Capitalized work for own use				4.3	30.1	10.8	10.1	6.8	10.6	12.3	11.6	8.1
Operating expenses				-168.9	-202.3	-184.4	-162.8	-150.2	-186.4	-154.1	-158.4	-132.7
Depreciation				-8.5	-5.5	-5.3	-5.3	-5.2	-6.6	-5.2	-5.2	-5.3
Operating profit				0.9	46.8	10.4	21.2	1.3	22.3	22.4	11.5	5.0
Net financial items				5.3	-4.5	4.0	-1.6	2.2	1.1	3.8	4.1	0.0
Profit after financial items				6.2	42.3	14.4	19.6	3.5	23.4	26.2	15.6	5.0
Tax on earnings for the period				-1.8	-19.1	-3.3	-6.1	-0.8	-9.4	-7.7	-4.7	-1.1
Net profit for the period				4.4	23.2	11.1	13.5	2.7	14.0	18.5	10.9	3.9

Five-year summary

	2007/2008	2006/2007	2005/2006	2004/2005	2003/2004
Order bookings, SEK M	1 016.6	684.7	613.7	570.1	375.1
Net sales, SEK M	742.9	672.5	564.4	455.9	495.3
Earnings before tax 1), SEK M	79.8	70.2	80.7	80.4	27.6
Earnings after tax, SEK M	50.5	47.2	60.4	52.8	21.0
Profit margin, %	10.7	10.4	14.3	17.6	5.6
Return on equity, %	9.3	9.4	13.2	12.8	5.8
ROCE, %	13.8	13.0	16.0	17.1	8.8
Return on total capital, %	8.9	8.6	10.9	12.6	6.1
Earnings per share before dilution, SEK	1.37	1.28	1.64	1.45	0.63
Earnings per share after dilution, SEK	1.34	1.26	1.61	1.42	0.61
Equity per share before dilution, SEK	15.22	14.12	13.24	11.79	10.96
Equity per share after dilution, SEK	14.93	13.84	12.97	11.54	10.52
Equity/assets ratio, %	56.9	60.8	58.9	61.5	61.7
Dividend per share, SEK	0.50	0.50	0.50	0.50	0.50
Stock market price at year end, SEK	58.5	76.0	58.8	74.0	58.5
P/E ratio	42.7	59.2	35.7	49.7	92.9

1) A non-recurring write-down of capitalized development costs within Sectra Mamea AB had a negative effect of SEK 70.9 million on operating profit for full-year 2003/2004.

Parent Company condensed income statement

	3 months	3 months	12 months	Full-year
SEK thousands	May 2008	May 2007	Aug–July	May–Apr
	– July 2008	– July 2007	2007/2008	2007/2008
Net sales	6,029	5,583	24,621	24,175
Capitalized work for own use	-	-	-	-
Operating expenses	-8,271	-5,788	-23,216	-20,733
Depreciation	-109	-152	-474	-517
Operating profit after depreciation	-2,351	-357	931	2,925
Net financial items	9,232	5,843	189,590	186,201
Profit after financial items	6,881	5,486	190,521	189,126
Untaxed reserves	-	-	-10,221	-10,221
Profit before tax	6,881	5,486	180,300	178,905
Tax on earnings for the period	-2,015	-1,563	-50,438	-49,986
Net profit for the period	4,866	3,923	129,862	128,919
Condensed Parent Company balance sheet
SEK thousands		July 31,	July 31,	Apr 30,
		2008	2007	2008
Assets

Assets
Intangible fixed assets	-	-	-
Tangible fixed assets	1,434	1,488	1,543
Financial fixed assets	141,471	97,561	140,566
Total fixed assets	142,905	99,049	142,109
Other current assets	663,343	501,522	662,881
Cash and cash equivalents	174,677	233,192	202,823
Total current assets	838,020	734,714	865,704
Total assets	980,925	833,763	1,007,813
Equity and liabilities
Equity (including profit for the period)	505,375	463,525	518,930
Provisions	-	-	-
Deferred tax liabilities	28,801	25,939	28,801
Long-term liabilities	21,723	34,550	44,854
Current liabilities	425,026	309,749	415,228

Definition of key figures

Adjusted equity	Reported shareholders' equity increased by 72% of untaxed reserves.
Capital employed	Total assets reduced by non interest-bearing debts.
Cash flow per share	Cash flow divided by the number of shares at the end of the period.
Earnings per share	Profit/loss after tax divided by the average number of shares.
Equity/assets ratio	Equity as a percentage of total assets.
Equity per share	Equity divided by the number of shares at the end of the period.
Liquidity	Current assets divided by current liabilities.
P/E ratio	Share price at the end of the period in relation to the twelve-month period's earnings per share.
Profit margin	Profit before tax as a percentage of sales.
Return on equity	Profit after tax as a percentage of average adjusted equity.
Return on capital employed (ROCE)	Profit before tax plus financial expenses as a percentage of average capital employed.
Return on total capital	Profit after net financial items plus financial expenses as a percentage of average total assets.
Value added	Operating profit plus labor costs.

Accounting principles

This interim report was prepared in accordance with IAS 34, Interim Financial Reporting, and RR31, Interim Reporting for Groups. The same accounting principles and calculation methods apply as in the most recent Annual Report. This means that the consolidated accounts were prepared in accordance with International Financial Reporting Standards (IFRS) and statement form International Financial Reporting Interpretations Committee (IFRIC) that were approved by the EU Commission for application within the EU. A description of the accounting principles is found in the Annual Report for the 2007/2008 fiscal year.

Financial calendar

Six-month interim report, May–Oct. 2008:	December 10, 2008
Nine-month interim report, May 2008–Jan. 2009	March 3, 2009
Year-end report, 2008/2009:	May 26, 2009
For further information, contact:

Jan-Olof Brüer, CEO and President, Tel. +46 (0)13 23 52 09

This interim report has not been reviewed by the company's auditors. Linköping, September 9, 2008 Board of Directors Sectra AB (publ)

The information in this report is such that Sectra AB (publ) is obligated to disclose in compliance with the Securities and Clearing Operations Act and/or the Financial Instruments Trading Act. This information was released to the media for public disclosure on Sept 9, at 8:30 am (CET).