Group's financial performance

February–October 2009

Tamro Group’s February–October 2009 net sales amounted to EUR 4,051 (4,179) million, a decrease of 3.1% compared to the same period last year. At constant exhange rates (CER), Tamro’s net sales increased by 2.8%.

Tamro Group’s operating profit in February–October was EUR 88 (103) million. The Group’s ordinary profit before taxes was EUR 79 (94) million, and the profit margin was 2.0 (2.2)%. The net profit for the period February–October amounted to EUR 56 (68) million.

Compared to last year, the profits after three quarters are negatively affected by the weaker foreign exchange rates, one-time capital gains included in last year’s figures and by extraordinary costs from preparing for the new market situation in Sweden. On a comparable basis, the operating result reaches last year’s level.

August–October 2009

Tamro Group’s August–October 2009 net sales amounted to EUR 1,370 (1,404) million, a decrease of 2.4% compared to the same period last year. The decline is fully explained by the weaker foreign exhange rates.

Tamro Group’s operating profit in August–October was EUR 28 (31) million, down by 11.5% from the same period in the previous year. The ordinary profit before taxes was EUR 26 (28) million, down by 6.5%, and the profit margin was EUR 1.9 (2.0)%. The net profit for the period August–October was EUR 18 (19) million. The profit decline is fully explained by the weaker exchange rates, one-time capital gains included in last year’s figures and by the preparatory costs for the changes in the Swedish market. On a comparable basis, the underlying business showed stable development.