sapa ab postadress box 5505 114 85 stockholm besöksadress humlegårdsgatan 17 org nr 556001 6122 telefon 46 8 459 59 00 fax 50 internet www sapagroup com 1 press release 15 april 2004 interim report january march growth with strengthened earnings and profitability per share increased by 27 cent to sek 3 20 2 profit after tax msek 116 91 net sales rose 26 475 758 return on capital employed from 10 12 cash flow despite investment activities 70 neg 126 in brief jan mar 2003 operating 200 151 33 margin 5 before 173 137 investments msek1 deliveries tonnes 99 140 76 790 29 debt equity ratio 0 57 54 excluding company acquisitions divestments the recovery profits that began during 2002 remained strong first quarter
