Interim Report January - June 2008

• Net sales in continuing operations reached SEK 278.0 million (255.7), of which SEK 128.9 million (125.4) referred to the second quarter. This is equal to organic growth of 9 percent in the first half of the year and 3 percent in the second quarter.

• Total operating profit amounted to SEK 19.2 million (21.8), of which SEK 4.8 million (9.8) referred to the second quarter. Operating margin was 7 percent (6) for the first half of the year and 4 percent (6) for the second quarter. The weak US dollar had a negative impact of SEK 5.1 million on sales and SEK 2.8 million on operating profit.

• Cash flow from operating activities improved by SEK 11.7 million and the financial position remains strong, with an equity/assets ratio of 81 percent (79).

• Treasury shares were repurchased in an amount of SEK 30.1 million during the past year, of which SEK 6.3 million in the two first quarters of 2008. The stockholders were paid a dividend of SEK 0.20 per share (before the reverse share split), for a total of SEK 22.1 million.

Key events

• The AGM on May 6, 2008, resolved to change the company’s name to Intoi AB (publ). At the same time, the company’s business focus and profile were changed to the acquisition, active ownership and divestment of IT companies. The AGM on May 6, 2008, also resolved on a 1-for-10 reverse share split.

• Northern was selected as one of nine companies worldwide to be included in the world-leading storage hardware supplier EMC’s partner program EMC Select.

• In the second quarter Deltaco moved into new and more modern facilities in Huddinge.

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