This analysis shows how changes of a number of factors will affect the Group's profit before tax. Calculations are based on year-end figures as well as on the assumption that everything else is equal.

• The annual cost for raw material and components is around SEK 18,000 million, of which steel bars, tubes, components or oil-based products account for the majority. A change of 1% in the cost of raw material and components reduces/ increases the profit before tax by SEK 176 million.

• An increase of 1% to wages and salaries (including social security charges) reduces the profit before tax by SEK 162 million.

• An decrease/increase of 1% in interest rates has a positive/ negative effect on the profit before tax of around SEK 80 million, based on the current position. The Group had a net shortterm financial debt (short-term financial assets less total loans) of SEK 10,219 million on 31 December 2008.

• A weakening/strengthening by 10% of the SEK versus the USD has a positive/negative net currency flow effect on the profit before tax of around SEK 400-500 million, excluding effects from hedging transactions. In regards to commercial flows, the Group is primarily exposed to the USD and US dollar-related currencies.

• A weakening/strengthening by 5% of the SEK versus all major currencies has a positive/negative effect of the translation of profits in SEK of around SEK 350 million. Most of the profit is made outside Sweden, why the Group is exposed to translational risks from all major currencies.