Rank the picture

below the Core

on the template

slide Slide title

36pt

Slide subtitle

18pt

Q4 2010 presentation February 10, 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

Q4 report 2010 2

Improved performance in 2010

• Sales increased by 11 percent in local currencies

• Operating profit improved to SEK 33.4 million (-30.0)

• Cash flow from operations increased to SEK 107.5 million (21.4)

• Net debt decreased by SEK 87 million to SEK 208.5 million

• The Board of Directors proposes that no dividend be distributed

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

3

Sales increase and strong cash flow in Q4

• Net sales increased by 8.0% to SEK 374.9 million (348.5)

• Operating profit SEK 33.7 million (38.1)

– Improvement of SEK 8.2 million if items affecting comparability are

excluded

• Cash flow from operations SEK 27.4 million (18.3)

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

Key Figures and Ratios

Q4-10 Q4 -09 2010 2009

Net sales for the Group, SEKm 374.9 348.5 1,344.1 1,216.3

Operating profit, SEKm 33.7 38.1 33.4 -30.0

Net profit, SEKm 25.2 27.8 4.0 -35.2

Earnings per share, SEK 3.08 3.39 0.49 -4.28

Cash flow from operations, SEKm 27.4 18.3 107.5 21.4

Operating margin, % 9.0 10.9 2.5 neg

Equity-assets ratio, % 36.5 37.2 36.5 37.2

Average number of employees 1,169 1,132

Q4 report 2010 4

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

-5

0

5

10

15

20

0

10

20

30

40

50

60

Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10

Sales and operating profit

5

Sweden – Q4 Waste Treatment for European Customers

• Continued high utilization of

incineration facility

– 510 tonnes (431) processed in 2010

• Improved product mix Q4 in metal

facility

– 2 647 tonnes (2 918) processed in

2010

• Strong order book

– Delay of steam generators not

expected to impact 2011

Q4 report 2010

( )=previous year

Current focus

• Continued improved productivity

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

United Kingdom – Q4 Decommissioning, Waste Treatment and Engineering & Services

• Increasing utilization of MRF and

improved order book

– But only 380 tonnes processed in 2010

– Break-even ~1 000 tonnes p.a

• NDA decided to support metal

treatment with MGBP 2.0 through

March 2011

– Positive market response

– Possible implementation of metal

treatment budget for FY 2011-2013

6

Current focus

• Build order book for MRF

• Increase sales within engineering

-40-35-30-25-20-15-10-505

05

10152025303540

Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10

Sales and operating profit

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

7

Germany – Q4 Decommissioning and Engineering & Services

• Capacity utilization high in all

service areas

– Outage days similar to 2009

– Decommissioning projects according

to plan

• One time cost for management

change in Q4

• Overall satisfactory order book

Current focus

• Growth in Engineering

• Cautious expansion in France

-2

0

2

4

6

8

10

12

14

0

20

40

60

80

100

120

140

Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3 Q4-10

Sales and operating profit

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

USA – Q4 Waste Treatment

• Increased sales in Erwin

– Normalised situation for transport

casks in Q4

– 4130 ft3 (2670) B/C waste

processed in 2010

• Recovery in Memphis

– Two mid-sized projects

performed in Q4

– Continued low visibility but

slightly improved market

-40

-30

-20

-10

0

10

20

30

40

0

10

20

30

40

50

60

70

80

90

100

Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10

Sales and operating profit

8

Current focus

• Get waste into Erwin and Memphis

Q4 report 2010

( )=previous year

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

Global Services – Q4 Materials technology and In-core fuel management software

• Materials technology

according to plan

• Several smaller software

sales at year end

• Overall strong order book 0

5

10

15

20

25

30

0102030405060708090

100

Q4-08 Q1-09 Q2-09 Q3-09 Q4-09 Q1-10 Q2-10 Q3-10 Q4-10

Sales and operating profit

9

Current focus

• Capitalize on strong order book

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

SEKm Q4 -10 Q4 -09 2010 2009

Sweden 51.2 55.5 179.9 171.3

United Kingdom 22.2 20.3 80.5 86.1

Germany 107.3 113.5 461.5 450.5

USA 88.9 63.7 272.0 213.3

Global Services 89.6 87.2 296.7 264.3

Other 21.7 13.3 67.7 63.6

Group eliminations -6.0 -5.0 -14.2 -32.8

GROUP 374.9 348.5 1,344.1 1,216.3

Net sales

10 Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

SEKm Q4 -10 Q4 -09 2010 2009

Sweden 9.6 18.6 19.9 27.7

United Kingdom -4.7 -9.4 -24.2 -50.2

Germany -0.5 7.6 28.8 27.8

USA 27.1 4.3 1.4 -50.0

Global Services 10.2 24.4 33.1 45.7

Other -8.0 -7.4 -25.6 -31.0

Group eliminations - - - -

GROUP 33.7 38.1 33.4 -30.0

Operating profit

11 Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

Balance sheet for Group, December

12 Q4 report 2010

Dec OB

Intangible assets 350 659 387 510

Tangible assets 490 144 527 811

Financial assets 173 851 147 813

Current assets 343 994 315 563

Cash & Bank 68 376 74 661

Total assets 1 427 023 1 453 357

Equity 520 808 541 229

Provisions 261 326 177 623

Interest bearing debts 275 935 369 889

Current liabilities 368 954 364 615

Total liabilities & Equity 1 427 023 1 453 357

Net interest bearing debt 208 559 295 229

Equity ratio 36,5% 37,2%

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

13

• Modernization and upgrading programs are under way in several countries

• New capacity is planned for in several countries

• Decommissioning of nuclear facilities is expected to continue at least at

the present rate

• Demand for the type of services Studsvik offers is strong

• Good order volumes in Sweden, Germany and Global Services

• Current contracts for Erwin provide conditions for profitability in the USA

• US and UK markets show a gradual recovery

Outlook

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

14

Summing up 2010

• Sales increased by 11 percent in local currencies

• Operating profit increased to SEK 33.4 million (-30.0)

• Cash flow from operations increased to SEK 107.5 million (21.4)

• Net debt decreased by SEK 87 million to SEK 208.5 million

Q4 report 2010

Slide title

36 pt

Text

24 pt

Bullets level 2

20 pt

Q4 report 2009Q3 report 2009

15

Q3 report 2009