Report on the first quarter 2012

In the first quarter, net sales increased by 10% to SEK 78.8 billion (71.6). Adjusted for currency movements and acquired and divested units, net sales increased by 7%.
The first quarter operating income amounted to SEK 6,239 M (6,522) including a negative impact of SEK 66 M related to a dispute with the Environmental Protection Agency in the US. Compared to the first quarter of 2011, changes in exchange rates had a positive impact of SEK 403 M.
Operating margin in the first quarter was 7.9% (9.1).
In the first quarter, basic and diluted earnings per share amounted to SEK 1.98 (2.01).
In the first quarter, operating cash flow in the Industrial Operations was negative in an amount of SEK 4.9 billion (negative SEK 4.0 billion) reflecting normal seasonality.