YEAR-END REPORT JANUARY–DECEMBER 2009

Sales amounted to MSEK 7,621 (8,009), of which the organic sales growth amounted to -12 percent (3).
Sales of services increased by 7 percent to MSEK 3,286 (3,070), of which the organic growth of services amounted to -1 percent (4).
Non-recurring costs amounted to MSEK 103¹, of which MSEK 90 were during the fourth quarter.
Operating income (EBIT) amounted to MSEK 493 (537²), corresponding to an operating margin (EBIT) of 6.5 percent (6.7).
Income before tax amounted to MSEK 460 (-366).
Net income amounted to MSEK 320 (-440) and earnings per share amounted to SEK 0.87 (-1.21).
The operating cash flow amounted to MSEK 912 (687).
The Board of Directors proposes a dividend of SEK 0.30 (0.30) per share.

¹Throughout the report, items for 2009 have not been adjusted for non-recurring costs.
²Operating income (EBIT) for 2008 before costs of the restructuring program (MSEK 275) and impairment losses of goodwill (MSEK 490) is referred to throughout the report, unless otherwise stated.

COMMENTS FROM THE CEO, JUAN VALLEJO
The year was characterized by a weak market situation with low demand and a high degree of price competition. The restructuring program initiated during 2008 countered the lower demand to a large extent. As we expect the market situation to remain weak we have initiated additional efficiency enhancing measures in the fourth quarter, which are expected to deliver annual savings of approximately MSEK 75 from the third quarter 2010. The operating cash flow strengthened during the year and amounted to MSEK 912, an increase of MSEK 225 compared with 2008. We have had stable underlying earnings during the year, adjusted for non-recurring costs. We are continuing to focus on refinement of the service offering with recurring revenue, while at the same time prioritizing margins over growth.

Press conference
A press conference will be held at Niscayah's head office at Lindhagensplan 70 in Stockholm on February 10, 2010 at 10.30 a.m. CET. To follow the press conference by telephone (and ask questions), please call:
Sweden: + 46 (0) 8 50 520 270
UK: + 44 (0) 208 817 9301
US: + 1 718 354 1226