SinterCast

Earnings Release • Nov 4, 2009

SinterCast Results July-September 2009

• Turnover for period: SEK 5.2 million (SEK 6.0 million). Year-to-date: SEK 14.5 million (SEK 17.4 million)
• Operating result: SEK -1.5 million (SEK -0.4 million). Year-to-date: SEK -5.2 million (SEK -4.5 million)
• Result after tax: SEK 10.1 million (SEK -0.4 million). Year-to-date: SEK -1.6 million (SEK 18.1 million)
• Earnings/share: SEK 1.8 per share (SEK -0.1 per share). Year-to-date: SEK -0.3 per share (SEK 3.3 per share)
• Cashflow: SEK 17.6 million (SEK -2.9 million). Year-to-date: SEK 17.7 million (SEK -7.5 million)
• New rights issue provides net cash injection of SEK 18.4 million, increasing liquidity to SEK 26.7 million
• Ford launches high volume diesel engine for Super Duty® pick-up trucks in North America
• Dashiang Precision foundry in China begins production of new high volume exhaust component
• First-ever SinterCast-CGI trial in India successfully concluded at DCM Engineering foundry

Following annualised production of approximately 400,000 Engine Equivalents during the first seven months of 2009, series production climbed rapidly to 500,000 Engine Equivalents in September, resulting from the start of production of two new programmes.

Current Production and Outlook

Although the existing series production programmes have not yet begun to show any significant signs of recovery, the total production volume has increased as a result of the launch of two new programmes: the Ford 6.7 litre V8 in North America and another new exhaust component at the Dashiang Precision foundry in China. The Ford Power Stroke® diesel engine, based on a SinterCast-CGI cylinder block, was introduced by Ford on 31 August and officially launched in the new F-Series Super Duty® trucks on 24 September. The state-of-theart engine is the first CGI engine to be launched in the high volume North American pick-up truck sector. The growth in series production at the Dashiang Precision foundry in China is based on the launch of another new high volume exhaust component, produced for the export market. Dashiang currently produces four different SinterCast-CGI exhaust components.

Production of the Ford Power Stroke® diesel engine began at the Tupy foundry in Brazil during mid-2008 and has already grown to become SinterCast's second largest production programme. The Power Stroke® diesel is the first engine that SinterCast has participated in as a replacement programme for an existing engine. As such, the ramp-up is expected to be faster than previous programmes. Based on historical sales of F-250, F-350, F-450 and F-550 vehicles, where more than two-thirds of all vehicles are specified with a diesel engine, the new V8 provides the potential for more than 400,000 Engine Equivalents per year at full volume. During the introduction of the new engine, Ford specifically stated that the use of a CGI cylinder block enabled a weight reduction of 70 kg (160 pounds) in the total engine weight, despite the displacement increase from 6.4 to 6.7 litres.

Also during the period, SinterCast conducted its first ever CGI production trial in India. The trial was successfully conducted at the DCM Engineering foundry, India's largest independent cylinder block and head foundry. The trial was commissioned by DCM in response to customer demand for CGI engine components as new road infrastructure and more stringent emissions increase the demand for improved engine performance in India. Following the trial, SinterCast-CGI prototype cylinder blocks, weighing from 40 to 175 kg, were delivered to passenger vehicle and commercial vehicle OEMs in the domestic market. DCM is also in dialogue with OEMs regarding the potential to export high quality Compacted Graphite Iron castings.

Based on the current production programmes and the potential market recovery during SinterCast's five year planning horizon, the five year outlook is summarised as follows:

	Approximate Annual Production Potential and Revenue
		30 September 2009	30 June 2009
Activity	KEQVS*	MSEK/yr**	KEQVS*	MSEK/yr**
Current Series Production1	500	11	400	9
Potential Mature Volume2	1,300	30	1,000	23
Production Orders Secured3	200	5	500	11
Development Pipeline4	2,600	60	2,600	60
Near-term Market Opportunity5	4,100	95	4,100	94

Notes: 1. Current annualised production rate

• 1. Annualised potential mature volume of Current Series Production (Item 1 above) when fully ramped-up
• 1. Annualised mature volume of programmes for which SinterCast's foundry customers have received production orders, but have not yet started series production
• 1. Annualised mature volume of development programmes that SinterCast is currently supporting, but have not yet been awarded as series production orders
• 1. Total Near-term Market Opportunity (sum of items 2, 3 and 4)
• * KEQVS: Thousands of Engine Equivalents
• ** Assumes 23 SEK/Engine Equivalent on 30 September 2009 and 23 SEK/Engine Equivalent on 30 June 2009

Financial Summary

Revenue

The revenue for the SinterCast Group relates primarily to income from equipment (sales and leases), series production and engineering service.

During July-September 2009, revenue amounted to SEK 5.2 million (SEK 6.0 million). The revenue represents 87% of the 3Q 2008 revenue, which was the last full quarter before the impact of the global economic downturn. Series production revenue was SEK 4.5 million (SEK 4.7 million), mainly due to the shipment of 15,400 (16,500) Sampling Cups.

During January-September, revenue amounted to SEK 14.5 million, representing 83% of the corresponding period in 2008 (SEK 17.4 million). The decreased revenue for the period results mainly from the decreased series production among foundry customers. A total of 36,000 (44,000) Sampling Cups were sold during the period. Equipment revenue for the period was SEK 2.3 million (SEK 2.4 million) and is primarily related to the Mini-System 2000 installation at the Luitpoldhütte foundry in Germany and the hardware upgrade/expansion at the Tupy foundry in Brazil.

Revenue Breakdown		July-September	January-September
	2009	2008	2009	2008
Number of Sampling Cups shipped	15,400	16,500	36,000	44,000
Equipment 1	0.3	0.7	2.3	2.4
Series Production 2	4.5	4.7	10.9	13.4
Engineering Service 3	0.4	0.5	1.3	1.5
Other 4	0.0	0.1	0.0	0.1
Total	5.2	6.0	14.5	17.4

(Amounts in SEK million if not otherwise stated)

Notes: 1. includes revenue from System 2000 sales and leases, sales of the Mini-System 2000 and spare parts

• 1. includes revenue from production fees, consumables and software licence fees
• 1. includes revenue from technical support, on-site trials and sales of test pieces
• 1. includes revenue from activation of the Pouring Furnace and System 3000 development projects.

Result

The July-September 2009 operating result of SEK -1.5 million is SEK 1.1 million lower than the same period 2008, primarily affected by depreciation (selected patents near the end of lifetime allowed to lapse) and by the reduced costs associated with the employee stock option programme 2006-2010 during 3Q 2008.

July-September	2009	2008	Difference
Depreciation	0.9	0.2	0.7
Employee Stock Option Programme 2006-2010	0.2	-0.6	0.8

The result for the July-September 2009 period amounted to SEK 10.1 million (SEK -0.4 million), primarily related to the revaluation of the deferred tax asset, as described in the section entitled "Deferred Tax Asset".

The operating result for the year-to-date January-September 2009 period amounted to SEK -5.2 million and is SEK 0.7 million lower than the same period 2008. The lower result for the year-to-date period is likewise primarily related to higher depreciation (patent lapses) and to revaluation differences related to the employee stock option programme 2006-2010.

January-September	2009	2008	Difference
Depreciation	1.3	0.9	0.4
Employee Stock Option Programme 2006-2010	0.7	0.3	0.4

The result for the year-to-date period amounted to SEK -1.6 million (SEK 18.1 million), primarily related to revaluation differences of the deferred tax asset, by SEK 19.7 million, as described in the "Deferred Tax Asset" section.

2009 2008 2009 Operating Result -1.5 -0.4 -5.2	Result Summary	July-September		January-September
					2008
					-4.5
	Result for the period	10.1	-0.4	-1.6	18.1
Result after tax per share (SEK) 1.8 -0.1 -0.3					3.3

(Amounts in SEK million if not otherwise stated)

Deferred Tax Asset

SinterCast calculates its estimated future taxable profit from secured production orders on a quarterly basis, in order to determine the valuation of its deferred tax asset.

SinterCast has reassessed the estimated future taxable profit and deferred tax asset calculation from secured orders to reflect the current expectation of programme longevity and the typical lifecycle for engine programmes in the automotive industry. This reassessment reflects the indication that the underlying automotive demand has stabilised, as described in SinterCast's 2Q Report. As of 30 September 2009, SEK 80.3 million (13.5%) of SinterCast's total carried-forward tax losses have been used as the basis of the updated calculation, resulting in SEK 21.1 million being capitalised as a deferred tax asset.

Deferred Tax Asset	July-September		January-September	FY
	2009	2008	2009	2008	2008
Estimated future taxable profit	80.3	80.0	80.3	80.0	70.0
Change in carry-forward tax loss taken into consideration	40.4	0.0	10.3	80.4	70.0
Deferred tax asset	21.1	22.4	21.1	22.4	18.5
Tax result	10.7	0.0	2.7	22.4	18.5

(Amounts in SEK million if not otherwise stated), (FY: Full Year)

Employee Stock Option Programme

As of 30 September 2009, the cost of the existing employee stock option programme 2006-2010 was calculated at a total amount of SEK 3.2 million (SEK 3.7 million as of 30 September 2008), based on a closing share price of SEK 60 on 30 September 2009 (SEK 103). During 2009, SEK 0.7 million (SEK 0.4 million) was accounted for as costs related to the option programme.

The Extraordinary General Meeting of the shareholders approved a new 2009-2013 employee stock option programme on 20 August 2009, to begin during 4Q 2009. The maximum number of stock options to be allotted to the employees will be 285,000. According to the IFRS 2 accounting standard, the employee stock options should be expensed as a personnel cost during the period and reported directly against equity capital. The recorded IFRS 2 cost for employee stock options will amount to approximately SEK 1.8 million during the period 2009-2013. Assuming that all options will be realised at the maximum ceiling of SEK 50, the social security costs are expected to amount to approximately SEK 3.0 million, expensed continuously during the period in which they are incurred. Costs for the option programme 2009-2013 will be accounted for in 4Q 2009.

Cashflow, Liquidity and Investments

The new rights issue has provided a net cash injection of SEK 18.4 million, securing the Company's liquidity. Current liquidity is SEK 26.7 million, with the prospect of in additional SEK 11.6 million being raised during September 2010 from the warrants related to the new rights issue. The July-September 2009 cashflow result was SEK 17.6 million (SEK -2.9 million), providing a Group liquidity of SEK 26.7 million on 30 September 2009 (SEK 8.8 million). The January-September 2009 cashflow result was SEK 17.7 million (SEK -7.5 million). The Sörmland Sparbank loan in the amount of SEK 3.0 million is due for review during December 2009. According to its terms, the loan may be called for repayment during December 2009. Investments during the period amounted to SEK 1.2 million (SEK 0.0 million).

Cashflow Summary	July-September		January-September
	2009	2008	2009	2008
Cashflow from operating activities	-1.2	0.2	-4.0	-2.8
Cashflow from working capital	0.0	-3.1	0.6	-4.7
Cashflow from investment activities	0.2	0.0	-0.5	0.0
Cashflow from financing activities	18.6	-	21.6	-
Cashflow total	17.6	-2.9	17.7	-7.5
Liquidity	26.7	8.8	26.7	8.8
Investments	1.2	0.0	1.2	0.0

(Amounts in SEK million if not otherwise stated)

Risks and Uncertainty Factors; Global Economic Crisis

Market Development

The main uncertainty factor for SinterCast is the timing of the CGI market ramp-up, which primarily depends on the global economy for new vehicle sales and on the individual sales success of the vehicles equipped with SinterCast-CGI components. The economic conditions facing the global foundry and automotive industries have resulted in significant reductions in demand in both the passenger vehicle and commercial vehicle sectors, causing automotive OEMs to reduce production and, in some cases, delay production launches. The overall decline in the automotive market has resulted in a reduction of SinterCast's near-term market opportunity calculation from a peak of 5.7 million Engine Equivalents on 30 June 2008 to the current value of 4.1 million Engine Equivalents. This reduction of approximately 25% is better than the overall automotive market decline of 40~60% during the same period, primarily because the launch of new SinterCast-CGI components has provided incremental volumes. It is also noted that SinterCast's production of components other than automotive cylinder blocks and heads has not decreased as significantly as the core cylinder block and head sector, thus providing a compensating effect on the overall series production volume. While SinterCast continues to support new product development activities, and anticipates new production launches and installation revenue, the Board believes that it is still not possible to determine the ultimate effect of the global economic recession or the timing and rate of the overall market recovery.

Liquidity

SinterCast regularly monitors its cash position with reference to market forecasts and expense budgets, and has implemented a pro-active liquidity protection plan that has included personnel reductions. While the Company believes that new installation opportunities can provide cash injections to further reinforce the liquidity, and that new series production launches can provide a positive contribution to production volumes and revenues, the timing of the overall recovery in the automotive and foundry industries remains uncertain. The current series production volume of approximately 500,000 Engine Equivalents is insufficient to provide positive cashflow. In consideration of all factors, the Board of Directors determined that it was in the best interest of the shareholders to proceed with a new rights issue, which was approved by an Extraordinary General Meeting of the Shareholders on 20 August 2009, and has since resulted in a net cash injection of SEK 18.4 million with the prospect of an additional SEK 11.6 million being raised during September 2010 from the warrants related to the new rights issue. The rights issue ensures the long-term liquidity of the Company and enables the Company to be more pro-active in its operations in advance of the market recovery.

Market Penetration and Competition

Virtually every company encounters competition, and SinterCast is no exception. However, based on SinterCast's pioneering and leading role in the development and application of CGI since the early 1990's, SinterCast enjoys global brand recognition and respect as the CGI technology leader and is welcomed by the industry as a reliable and trustworthy partner in the industry. As the CGI market has developed, some foundry supply companies have proposed alternative CGI technologies. To SinterCast's knowledge, these have included Hereaus-Electronite, OxyCast, OCC and NovaCast. It is also possible that some foundries may opt to produce CGI using in-house control and discipline, but this is generally judged to become less likely as product complexity and production volumes increase, and as specification requirements become more rigidly enforced by the end-users. SinterCast judges that it's technology and engineering know-how provides the most reliable and cost-effective solution for the production of high quality CGI. Based on its proven technology, production experience and engineering service, SinterCast will continue to support new CGI development activities to further increase its share of the world CGI cylinder block and head production capacity. With respect to the development of alternative automotive technologies such as biofuels, hybrids and fuel cells, SinterCast does not expect these to have a significant effect on the Company's competitive position for the foreseeable future.

Accounting Principles

The information provided on behalf of the Group in this interim report has been prepared in accordance with Sweden's Annual Accounts Act and IAS 34 Interim Financial Reporting. As of 1 January 2009, several amendments to existing standards, new interpretations and one new standard (IFRS 8) came into effect. In accordance with IAS 1, SinterCast has opted to present the Group's total earnings divided into two statements: a separate income statement and a statement of comprehensive income. Furthermore, the consolidated statement of changes in shareholders' equity only includes transactions with the Group's owners. As of 1 April 2009, development costs that can be directly attributed to the design and testing of identifiable and unique new products controlled by the Group are recognised as intangible assets when the criteria of IAS38 are met. Beginning with the 3Q09 report, SinterCast has reassessed the estimated future taxable profit and deferred tax asset calculation to reflect the typical lifecycle of an engine programme in the automotive industry. The reporting for the Parent Company has been prepared in accordance with Sweden's Annual Accounts Act. The accounting policies that have been applied for the Group and for the Parent Company are in agreement with the accounting policies used in the preparation of the Company's latest annual report.

During the period, no material transactions have taken place between SinterCast and the Board or the Management, with the exception of their unanimous participation in the new rights issue.

Events after the Balance Sheet Date

There have been no significant events since the balance sheet date of 30 September 2009 that could materially change these financial statements.

Parent Company

SinterCast AB (publ) is the Parent Company of the SinterCast Group, with registered office located in Stockholm, Sweden. The Parent Company has 10 (12) employees. The majority of the operations are conducted by the Parent Company, including responsibility for the representative office in China and sales representatives in Australia, India, Japan and Korea. Operations in the UK and the USA are managed by the local companies. The information given for the Group in this report corresponds in all material respects to the Parent Company.

Personnel

As of 30 September 2009, the Group had 13 (16) employees, two (three) of which were female. The core technical staff has the necessary skills and resources to support ongoing customer activities and the overall market development. Further recruitment will be phased with the development of field activities, particularly the need to support new installations.

Annual General Meeting

The Annual General Meeting 2010 of SinterCast AB (publ) will be held on 20 May 2010.

Nomination Committee

The Nomination Committee, elected by the Annual General Meeting 2009, consists of Ulla-Britt Fräjdin-Hellqvist, Lars Ahlström and Torbjörn Nordberg. The Nomination Committee can be contacted at: nomination.committee@sintercast.com

Information

The Interim Report October-December and Full Year Results 2009 will be published on 10 February 2010 The Interim Report January-March 2010 will be published on 28 April 2010 The Interim Report April-June 2010 will be published on 25 August 2010 The Interim Report July-September 2010 will be published on 3 November 2010

For further information please contact:

Dr. Steve Dawson President & CEO SinterCast AB (publ) Tel: +46 8 660 7750 Mobile: +44 771 002 6342 e-mail: steve.dawson@sintercast.com website: www.sintercast.com

SinterCast is the world's leading supplier of process control technology for the reliable high volume production of Compacted Graphite Iron (CGI). With at least 75% higher tensile strength, 45% higher stiffness and approximately double the fatigue strength of conventional grey cast iron and aluminium, CGI allows engine designers to improve performance, fuel economy and durability while reducing engine weight, noise and emissions. SinterCast produces a variety of CGI components ranging from 2 kg to 17 tonnes, all using the same process control technology. The end-users of SinterCast-CGI components include Aston Martin, Audi, Caterpillar, Chrysler, DAF Trucks, Ford, Ford-Otosan, General Electric Transportation Systems, General Motors, Hyundai, Navistar, Jaguar, Kia, Land Rover, MAN, MAN Diesel, Porsche, PSA Peugeot-Citroën, Renault, Rolls-Royce Power Engineering, Toyota, Volkswagen, Volvo and Waukesha Engine. The SinterCast share is quoted on the Small Cap segment of the Nordic Exchange, Stockholm (Stockholmsbörsen: SINT).

END

Income Statement - SinterCast Group

	July - September		January - September		January - December
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2007
Revenue	5.2	6.0	14.5	17.4	24.8	22.8
Cost of goods sold	-1.7	-2.0	-5.3	-6.1	-9.4	-8.7
Gross result	3.5	4.0	9.2	11.3	15.4	14.1
Cost of sales and marketing	-2.2	-2.6	-7.3	-8.3	-11.0	-9.8
Cost of administration	-1.2	-1.3	-4.1	-4.9	-6.5	-6.3
Cost of research & development	-1.5	-0.6	-3.0	-2.6	-3.9	-4.1
Other operating income	-0.1	0.0	0.0	0.0	0.0	1.0
Other operating costs	0.0	0.1	0.0	0.0	0.3	0.0
Operating result	-1.5	-0.4	-5.2	-4.5	-5.7	-5.1
Interest income and similar items	1.5	0.1	1.7	0.4	0.7	0.9
Interest expenses and similar items	-0.6	-0.1	-0.8	-0.2	-0.4	-0.3
Income Tax	10.7	0.0	2.7	22.4	18.5	0.0
Result for the period	10.1	-0.4	-1.6	18.1	13.1	-4.5
Result attributable to:
Equity holder of the parent company	10.1	-0.4	-1.6	18.1	13.1	-4.5
Non-controlling interests	-	-	-	-	-	-
Earnings per share, SEK	1.8	-0.1	-0.3	3.3	2.4	-0.8
Earning per share, diluted, SEK	1.8	-0.1	-0.3	3.3	2.4	-0.8
Number of shares at the close of the period, thousands	6,478.4	5,552.9	6,478.4	5,552.9	5,552.9	5,552.9
Average number of shares, thousands	5,676.3	5,552.9	5,594.0	5,552.9	5,552.9	5,552.9
Average number of shares adjusted for outstanding warrants	5,698.5	5,552.9	5,601.4	5,552.9	5,552.9	5,552.9

Statement of Comprehensive Income - SinterCast Group

	July - September		January - September		January - December
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2007
Result for the period	10.1	-0.4	-1.6	18.1	13.1	-4.5
Other comprehensive income
Translation differences, foreign subsidiaries	-0.2	0.2	-0.2	0.1	0.1	0.2
Employee share option programme	0.3	0.3	0.7	0.7	0.9	0.9
Other comprehensive income, net of tax	0.1	0.5	0.5	0.8	1.0	1.1
Total comprehensive income	10.2	0.1	-1.1	18.9	14.1	-3.4
Total comprehensive income attributable to:
Equity holder of the parent company	10.2	0.1	-1.1	18.9	14.1	-3.4
Non-controlling interests	-	-	-	-	-	-

Geographical Markets* - SinterCast Group

	Revenue January - September		Operating Result January - September		Revenue Op. Result January-December
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2008
Europe	2.9	4.5	-13.5	-15.2	6.9	-19.4
Americas	6.8	8.3	5.6	6.9	11.5	8.8
Asia	4.8	4.6	2.7	3.8	6.4	4.9
Total	14.5	17.4	-5.2	-4.5	24.8	-5.7

*SinterCast provides only one product, process control systems for the reliable production of Compacted Graphite Iron, and related services for product development, installations, calibration and maintenance. The company judges that the opportunities and risks are not primarily related to the geographical markets but associated with the overall CGI market development.

Cashflow Statement - SinterCast Group

			July - September January - September		January - December
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2007
Operating activities
Operating result	-1.5	-0.4	-5.2	-4.5	-5.7	-5.1
Adjustments for items not included in the cash flow
Depreciation	0.9	0.3	1.3	0.9	1.2	1.3
Other	-0.6	0.2	-0.1	0.4	0.6	0.9
Exchange rate differences	0.0	0.1	0.0	0.2	0.3	0.1
Received interest income and similar items	-0.1	0.0	0.0	0.3	0.7	0.9
Paid interest expenses and similar items	0.1	0.0	0.0	-0.1	-0.4	-0.3
Total cashflow from operating activities
before change in working capital	-1.2	0.2	-4.0	-2.8	-3.3	-2.2
Change in working capital
Stock	0.3	0.0	1.4	-0.4	-1.8	0.3
Operating receivables	-0.4	-0.3	0.3	-1.8	-0.5	1.9
Operating liabilities	0.1	-2.8	-1.1	-2.5	-1.4	2.2
Total change in working capital	0.0	-3.1	0.6	-4.7	-3.7	4.4
Cashflow from operations	-1.2	-2.9	-3.4	-7.5	-7.0	2.2
Investing activities
Acquisition of intangible assets	0.2	0.0	-0.5	0.0	-0.2	-0.3
Acquisition of tangible assets	0.0	0.0	0.0	0.0	-0.1	-0.1
Increase/decrease in long-term receivables/payables	0.0	0.0	0.0	0.0	0.0	-1.0
Cashflow from investing activities	0.2	0.0	-0.5	0.0	-0.3	-1.4
Financing activities	18.6	-	21.6	-	-	-
Cashflow from financing activities	18.6	-	21.6	-	-	-
Change in cash and cash equivalents*	17.6	-2.9	17.7	-7.5	-7.3	0.8
Cash - opening balance	9.1	11.7	9.0	16.3	16.3	15.5
Cash - closing balance	26.7	8.8	26.7	8.8	9.0	16.3

*The cash and cash equivalents comprises short-term deposits and cash at bank and in hand.

Balance Sheet - SinterCast Group

	30 Sept	30 Sept	30 June	30 June	31 Dec	31 Dec
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2007
ASSETS
Intangible assets	3.3	3.7	3.8	3.9	3.5	4.4
Tangible assets	0.1	0.1	0.1	0.1	0.1	0.1
Financial assets	21.4	22.6	10.7	22.6	18.7	0.2
Total fixed assets	24.8	26.4	14.6	26.6	22.3	4.7
Stock	3.6	3.6	3.9	3.6	5.0	3.2
Short-term receivables	5.1	5.8	3.7	5.4	4.4	3.9
Short term deposits and cash at bank and in hand	26.7	8.8	9.1	11.7	9.0	16.3
Total current assets	35.4	18.2	16.7	20.7	18.4	23.4
Total Assets	60.2	44.6	31.3	47.3	40.7	28.1
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity*	51.5	39.0	22.9	38.9	34.1	20.0
Long term liabilities	0.0	0.0	0.0	0.0	0.0	0.0
Current liabilities	8.7	5.6	8.4	8.4	6.6	8.1
Total shareholders' equity and liabilities	60.2	44.6	31.3	47.3	40.7	28.1
Adjusted equity per share	7.9	7.0	3.5	7.0	6.1	3.6
* STATEMENT OF CHANGES IN EQUITY		Share Capital			Additional Paid Accumulated Total Equity
Attributable of the equity holder of the parant company				In Capital	Result
Opening balance 1 January 2008		5.55		81.27	-66.77	20.05
Total comprehensive income		-		-71.74	90.69	18.95
Closing Balance 30 September 2008		5.55		9.53	23.92	39.00
Opening balance 1 January 2009		5.55		9.53	19.07	34.15
Rights Issue		0.93		17.51		18.44
Total comprehensive income					-1.11	-1.11
Closing Balance 30 September 2009		6.48		27.04	17.96	51.48

Key Ratio and Share Data - SinterCast Group

		July - September January - September			January - December
AMOUNTS IN SEK MILLION	2009	2008	2009	2008	2008	2007
Key Ratio
Revenue, SEK millions	5.2	6.0	14.5	17.4	24.8	22.8
Net result, SEK millions	10.1	-0.4	-1.6	18.1	13.1	-4.5
Solidity, %	85.5	87.4	85.5	87.4	83.8	71.2
Adjusted shareholders' equity, SEK millions	51.5	39.0	51.5	39.0	34.1	20.0
Capital employed, SEK millions	54.5	39.0	54.5	39.0	34.1	20.0
Total assets, SEK millions	60.2	44.6	60.2	44.6	40.7	28.1
Return on shareholders' equity, %	27.1	-1.4	-3.8	61.3	48.3	-20.7
Return on capital employed, %	27.1	-1.0	-3.7	62.1	50.0	-19.2
Return on total assets, %	51.3	-0.8	-6.8	50.5	66.5	-29.7
Debt-to-equity ratio	-	-	-	-	-	-
Employees
Number of employees at the end of the period	13	16	13	16	15	14
Data per Share
Dividends per share, SEK	-	-	-	-	-	-
Share price at the end of the period, SEK	60.0	103.0	60.0	103.0	32.5	140.0
Average number of shares			Return on shareholders' equity
Weighted average of the number of shares outstanding for the period			Net result as a percentage of average adjusted
Average number of shares adjusted for outstanding warrants			shareholders' equity
Weighted average of the number of shares and warrants outstanding for the period			Return on capital employed
Earnings per share		Net result after financial items plus financial
Net result divided by the average number of shares			expenses as a percentage of average capital employed
Earnings per share adjusted for outstanding warrants			Return on total assets
No outstanding warrants			Net result after financial items plus financial expenses
Adjusted equity per share			as a percentage of total average assets
Adjusted shareholders' equity divided by the average number of shares			Debt-to-equity ratio
Adjusted equity per share adjusted for outstanding warrants			Interest bearing liabilities divided by adjusted
No outstanding warrants			shareholders' equity
Solidity			Share price at the end of the period
Adjusted shareholders' equity expressed as percentage			Latest paid price for the SinterCast share at
of total assets end of period					the Swedish stock exchange, Stockholmsbörsen
Adjusted shareholders' equity		Value presented as "0.0"
Shareholders' equity plus of untaxed reserves			Amount below SEK 50,000
Capital employed		Value presented as "-"
Total assets less non-interest bearing liabilities, including deferred tax liabilities			No amount applicable

Income Statement - SinterCast AB

AMOUNTS IN SEK MILLION	July - September		January - September		January - December
	2009	2008	2009	2008	2008	2007
Revenue	5.9	5.2	13.9	15.8	22.3	20.7
Cost of goods sold	-2.4	-2.1	-5.8	-6.1	-9.3	-8.3
Gross result	3.5	3.1	8.1	9.7	13.0	12.4
Cost of sales and marketing	-0.9	-1.1	-3.3	-6.1	-11.1	-8.8
Cost of administration	-1.0	-1.0	-3.3	-4.4	-6.6	-6.2
Cost of research & development	-1.4	-0.6	-2.8	-2.6	-3.9	-4.1
Other operating income	0.0	-0.1	0.0	0.1	0.2	1.0
Other operating costs	0.5	0.0	0.0	0.0	0.0	0.0
Operating result	0.7	0.3	-1.3	-3.3	-8.4	-5.7
Interest income and similar items	1.5	0.1	1.7	0.4	0.6	1.0
Interest expenses and similar items	-0.6	-0.1	-0.8	-0.2	-0.4	-0.3
Income Tax	10.7	0.0	2.7	22.4	18.5	0.0
Result for the period	12.3	0.3	2.3	19.3	10.3	-5.0

Balance Sheet - SinterCast AB

AMOUNTS IN SEK MILLION	2009	30 September 30 September 2008	30 June 2009	30 June 2008	31 Dec 2008	31 Dec 2007
ASSETS
Intangible assets	3.3	3.7	3.8	3.9	3.5	4.4
Tangible assets	0.1	0.1	0.1	0.0	0.1	0.1
Financial assets	23.3	23.9	12.5	23.8	20.1	1.0
Total fixed assets	26.7	27.7	16.4	27.7	23.7	5.5
Stock	2.8	3.6	3.0	3.6	5.0	3.2
Short-term receivables	8.4	8.7	5.9	7.3	3.8	3.1
Short term deposits and cash at bank and in hand	26.3	8.3	8.5	11.1	8.2	15.4
Total current assets	37.5	20.6	17.4	22.0	17.0	21.7
Total Assets	64.2	48.3	33.8	49.7	40.7	27.2
SHAREHOLDERS' EQUITY AND LIABILITIES
Restricted capital	33.5	15.1	15.1	15.1	15.1	86.8
Accumulated Deficit	14.3	20.0	2.0	19.4	11.3	-71.7
Total Shareholders' equity	47.8	35.1	17.1	34.5	26.4	15.1
Long term liabilities	0.1	0.1	0.1	0.1	0.1	0.1
Current liabilities	16.3	13.1	16.6	15.1	14.2	12.0
Total shareholders' equity and liabilities	64.2	48.3	33.8	49.7	40.7	27.2