Year-End Report 2008

Highlights during the fourth quarter

• The ownership position in Atlas Copco was strengthened through investments totaling SEK 505 m.
• On December 31, 2008 the net cash position amounted to SEK 9.4 bn. and the average maturity of the debt portfolio was 12.6 years.
• The Board of Directors propose a dividend to shareholders of SEK 4.00 per share (4.75).

Financial information

• The net asset value amounted to SEK 115,340 m. (SEK 150 per share) on December 31, 2008, compared to SEK 155,204 m. (SEK 203 per share) at year-end 2007, corresponding to a change, including dividends paid, of -23 percent for the year. Total return for the Stockholm Stock Exchange (SIXRX) was -39 percent in 2008.
• The consolidated net result for 2008, including change in value, was SEK -36,736 m. (SEK -47.99 per share), compared with SEK -367 m. (SEK -0.48 per share) for 2007.
• Core Investments had an impact of SEK -31,546 m. on income in 2008 (-4,535). Scania had the most positive impact, SEK 3,311 m. and SEB had the largest negative impact, SEK -13,863 m.
• Operating Investments had an impact of SEK -710 m. on income in 2008 (-879).
• Private Equity Investments had an impact of SEK -3,463 m. on income in 2008 (5,953).
• The total return on the Investor share was -18 percent in 2008 (-10), of which -8 was in the fourth quarter (-11). The annual total return has averaged 12 percent over the past 20-year period.