INCAP RESULTS FOR THE FIRST QUARTER EXCEED FORECAST

Stock Exchange Release, 14 April 2004, 12 p.m.

Incap Corporation’s results turned clearly positive during the first quarter of 2004, with an operating profit amounting to approximately EUR 0.6 million. Results were negative both in the corresponding period in 2003 (EUR -0.7 million) and during the preceding quarter (EUR -0.1 million).
 
Net turnover during the first quarter of 2004 amounted to over EUR 19 million, representing almost the same level as during the previous quarter. Compared with the corresponding period in 2003, net turnover in the first quarter of 2004 grew by about 25%.
 
The improved results were mainly due to decreases in fixed costs, better utilisation of capacity and improved productivity.
 
The above figures for 2004 are unaudited. Incap will publish its interim report for the first quarter of 2004 on 5 May.
 
 
INCAP CORPORATION
 
 
Juhani Hanninen
President and CEO
 



For further information, contact:
Juhani Hanninen, President and CEO, tel. +358 (0)50 556 7199
Tuula Ylimäki, Chief Financial Officer, tel. +358 (0)40 347 2025
Hannele Pöllä, Director, Communications and Investor Relations, tel. +358 (0)40 504 8296


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