In isolated terms a positive development can be noted in the third quarter of 2005 in relation to both turnover and the result, compared to 2004. Declining raw material prices sustain the periods development

• Turnover constitutes 271.5 m€ (2004: 264.8 m€)
• EBITDA constitutes 38.6 m€ (2004: 46.1 m€) corresponding to a decrease of 7.5 m€
• EBITA constitutes 15.9 m€ (2004: 24.3€)

CEO Kim Andersen accounts: “In the third quarter, the result development has improved compared to the first six months. Prices on raw material tended to decline, and combined with the accomplished growth in sales in the European business, this has affected the result positively. A double digit sales growth in the eastern part of Europe sustains the current construction of a new top modern factory in the town of Lubien Kujawski in Poland.

In the USA the positive sales development continues with optimal usage of the existing capacity at the factory in Cumberland, Maryland. The US division capitalizes on product as well as production synergies from the European business and this result in success on the market for consumer packaging for the food segment.

In the Pharma division it has been decided to increase production capacity. As a consequence, Superfos Pharma took over and integrated the 11,000 m production facility in Haarby, Denmark. Production started up in the beginning of august 2005. In continuation hereof, production in the UK was discontinued and all activity transferred to Denmark. The development in the turnover as well as the result was satisfactory in the third quarter.