Kjaer Group's End Results 2007

May 30, 2008

32% Increase in Kjaer Group's Net Result in 2007

Kjaer Group experienced a 32% increase in net financial results for 2007 when compared to 2006. Earnings before tax were 21.9 million DKK and earnings after tax were 14.1 million DKK.

With an extraordinary dividend of 45.3 million DKK to Kjaer Group’s shareholders in 2007, the Group’s equity ended the year at 83.7 million. While the Group achieved its highest turnover in 2006, adverse currency fluctuations in US Dollars and Japanese Yen negatively impacted sales, which declined by 9% ending in 716 million DKK.

Commenting on 2007’s results, the Group’s CEO, Per S. Lundgren indicated that “In 2007 we intensified our investment in developing services and in new growth markets, which will secure future earnings. Close to 15% of our operating costs where invested in these initiatives (approximately 13 million DKK). In particular we welcomed a breakthrough for our fleet management solution, Fleet Care, where we have high expectations for the future.”

In 2007 a range of initiatives were successfully implemented to make our operations more efficient.

All things considered, 2007 provides a solid foundation for continued growth and profitability. Management considers the result more than satisfactory and recognizes that it was made possible by the dedication and professionalism of our employees.

With an average of 216 employees throughout 2007 and with 45 years of experience in automotive services, Kjaer Group actively supports the UN Millennium Development Goals by operating national distributions in emerging countries and supporting the international aid and development sector.

Svendborg 29th, May 2008.

For further information, please contact:
Per S. Lundgren, adm. dir.
Kjaer Group A/S
Grønnemosevej 6
5700, Svendborg

Tel.: +45 62 221 111
e-mail: p.lundgren@kjaergroup.com
website: www.kjaergroup.com