Year-End Report 2004

A year of positive development

• The Parent Company’s profit after tax for the full year strengthened by SEK 104M to SEK 179M (75) and for the fourth quarter by SEK 65M to SEK 123M (58). • Consolidated operating profit before goodwill amortisation rose SEK 197M for the full year to SEK 255M (58) and by SEK 152M in the fourth quarter to SEK 140M (-12). The Group reported a net result of SEK -16M (-187) for the full year and SEK 44M (-54) for the fourth quarter, equal to earnings per share of SEK -0.04 (-0.77) and SEK 0.05 (-0.16) after full dilution. • The year’s divestitures generated total exit gains of SEK 132M and net proceeds of SEK 397M in the Parent Company. • The Parent Company’s reported equity after full subscription of outstanding warrants improved during the year from SEK 238M to SEK 2,050M (1,812). Equity increased to SEK 1.58 (1.40) per share after full dilution (discounted value). • Amortisation of SEK 520M was carried out in the Parent Company during the year. Subsequent events • In January 2005 Bure increased its holding in Carl Bro from 58 to 66 per cent. The purchase price amounted to SEK 70M. • In January 2005 Bure decreased its holding Scribona from 35 to 23 per cent of the share capital. The net proceeds of the sale amounted to SEK 95M. • On 1 February 2005 Mikael Nachemson took over as the new President of Bure Equity AB. • An additional SEK 140M was amortised in February. • In February, Bure signed a new financing agreement and decided to exercise its option for early redemption of outstanding subordinate debentures on 31 March 2005. These measures will provide total cost savings of approximately SEK 90M to June 2007. • As of 24 February, Bure had raised SEK 46.1M through the exercise of warrants for subscription to 61.5 million new shares.

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