publication interim results 2004

11% increase in turnover and 24% improvement in profits

highlights

• 7% organic growth in turnover (eur 30 million)
• turnover increased by 11% to eur 437.3 million
• net profit rose by 24% to eur 31.7 million (7.3% of turnover)
• net earnings per share increased by 21% to eur 1.31
• position strengthened in Scandinavia by acquisition of Raufoss Water & Gas
• substantial position in the USA by acquisition of Elkhart Products