Intoi Annual Report 2009

•  In 2009 Intoi delivered higher sales in all holdings, a proft from the Group’s holdings on par with 
the previous year and a signifcant improvement in cash fow. This has been achieved in a weak 
market and has been made possible by our efforts to develop and position technology companies.
•  Consolidated cash and cash equivalents have more than doubled at the same time that interest-
bearing liabilities have been reduced by half. The Group has net cash of SEK 28 million, compared 
to a net debt of SEK 38 million at year-end 2008. The fnancial position remains stable with an 
equity/assets ratio of 80 percent. 
•  Deltaco increased its sales and posted its highest operating proft of all time, at SEK 31.9 million
for the full year. The company has a strong offering and has further enhanced the effciency of its
logistics, which boosted operating margin for the full year to 9 percent (8). 
•  IAR Systems improved its sales and strengthened its operating margin to 11 percent (8) for
the full year. The company has undergone a major process of change during the year, which
contributed to a 58 percent increase in earnings for the fourth quarter. At the same time, license
and maintenance revenue rose to 84 percent of total revenue for the quarter.
• Northern reported higher sales for the full year but lower earnings for the fourth quarter due to
restructuring in the European organization. To ensure that Northern’s technological edge leads
to growth in sales, the company was reinforced with resources from Nocom Software in February
2010.
• Nocom Software showed higher sales for both the full year and the fourth quarter. The company has
a strong customer base and in-depth expertise in sales of software. In order to better leverage these
resources, the company has been integrated into Northern. 
•  Total operating proft was SEK 5.5 million (31.7). In the fourth quarter the Group’s proft was affected 
by restructuring in Northern, a capital loss on the sale of an operating property and an impairment 
loss on intangible assets in Nocom Software. The total earnings impact of these measures was  
SEK –27.5 million.
•  Total operating margin was 1 percent (5).
•  Earnings per share amounted to SEK 0.17 (2.85).
•  Equity per share at year-end 2009 was SEK 53.57 (53.98).
•  Intoi’s class B share (INTO B) is listed on the Small Cap list of the NASDAQ OMX Nordic Exchange 
Stockholm. The share price at December 31, 2009, was SEK 24.40 (13.35) and Intoi’s market 
capitalization on the same date was SEK 270 million (148).
•  In light of our strong fnancial position, the Board proposes that the dividend be doubled to  
SEK 1.25 (0.60).
•  Given the Group’s stable fnancial position and the strong market positions of its various operations, 
we expect consolidated operating proft to improve during 2010 with a goal to exceed the level in 
2008.


If you want more information please contact:
Stefan Skarin CEO and
mobil: +46 708 65 10 05
e-post: [email protected]