EKORNES ASA 1 st Quarter kvartal st Quarter

2 Ekornes Q1 - Headlines: Improvement in most markets Distinctive improvement in the German market Increased order influx and sale within product area Stressless® Improved profitability New products were very well received by retailers Increased Stressless® capacity, but productivity underperforming during capacity build-up Stronger NOK Challenges in the US-market: Declining profitability among retailers Challenges in Norway following the termination of the contract with Skeidar Change in distribution in Sweden 1. kvartal st Quarter

3 News: 1. kvartal st Quarter Stressless ® Space Stressless ® Wave Svane ® Zefir

4 Development in Operating Revenue: 1. kvartal st Quarter

5 Development in Operating Revenue: 1. kvartal st Quarter

6 Distribution of turnover by product area (mill.NOK): 1. kvartal st Quarter

7 Distribution of turnover product area Stressless®: (Mill. NOK) 1. kvartal st Quarter

8 Contribution margin by product areas: 1. kvartal st Quarter

9 Development in relative factors: 1. kvartal st Quarter

10 Development in direct salaries at the factories: (Based on factory price, year-end bonus not included) 1. kvartal st Quarter

11 Total contribution and operating margin : 1. kvartal st Quarter

12 Development in Profit Margin (pre tax) : 1. kvartal st Quarter

13 Development in Profit Margin (pre tax) : 1. kvartal st Quarter

14 Development EPS fully diluted (Figures in NOK) : *EPS for 2003 is calculated based on the same number of shares as 2004 and kvartal st Quarter

15 Income Statement (mill. NOK) : Q1/06Q1/05Changes Operating revenues % %9.6% Materials % %6.4% Salaries and social costs % %5.6% Other operating expenses % %9.7% Depreciation % %8.4% Total operating costs % %7.3% Operating result % %21.0% Net financial income/expenses1.10.2%2.2 Ordinary result before taxes % %19.5% Calculated taxes ordinary result % % Ordinary result after taxes % %15.2% EPS kvartal st Quarter

16 Income Statement – 1 APRIL/ 31 MARCH (mill. NOK) : Changes Operating revenues2, %2, %4.4% Costs of goods sold % %8.8% Salaries and social costs % %5.9% Other operating expenses % %7.2% Depreciation % %5.2% Total operating costs1, %1, %7.1% Operating result % %-5.5% Net financial income/expenses %5.70.3% Ordinary result before taxes % %-4.0% Calculated taxes ordinary result % %-6.1% Ordinary result after taxes % %-3.0% EPS kvartal st Quarter

17 Q1/06Q1/05CHANGES Total Long Term Assets % Inventories % Trade Debtors % Other Current Assets % Value of forward contracts % Cash and Bank Deposits % Total Current Assets1, % TOTAL ASSETS1, , % Total Equity1, , % Provisions and Commitments % Long Term Liabilities (interest) % Trade Creditors % Taxes, VAT and national insurance % Other current liabilities % Total Liabilities % TOTAL EQUITY AND LIABILITIES1, , % Balance Sheet (mill. NOK) : 1. kvartal st Quarter

18 Q1/06Q4/05CHANGES Total Long Term Assets Inventories Trade Debtors Other Current Assets Value of forward contracts Cash and Bank Deposits Total Current Assets1, TOTAL ASSETS1,812.61, Total Equity1,265.91, Provisions and Commitments Long Term Liabilities (interest) Trade Creditors Taxes, VAT and national insurance Other current liabilities Total Liabilities TOTAL EQUITY AND LIABILITIES1,812.61, Balance Sheet (mill. NOK) : 1. kvartal st Quarter

19 EQUITY Q1/06Q1/ EQUITY AT START OF PERIOD1,168.21,162.8 Profit of the year Dividend paid out Dividende own shares--- Purchase of own shares Sale of own shares Translation differences and other Change value of forward contracts EQUITY AT END OF PERIOD1,265.91,230.51, kvartal st Quarter

20 Development in cash-flow and bank deposits (Mill.NOK) : 1. kvartal st Quarter

21 Development in Total Capital, Net-working Capital and Equity (mill. NOK): 1. kvartal st Quarter

22 Cash Reserve (million NOK) : 1. kvartal st Quarter

23 Development in turnover per market (million NOK) 1. kvartal st Quarter

24 Development in turnover per market (million NOK) 1. kvartal st Quarter

25 Coming events: 14 August announcement of Q2/06 result 15 August presentation of Q2/06 result 8 November announcement of Q3/06 result 9 November presentation of Q3/06 result 1. kvartal st Quarter

26 Questions? 1. kvartal st Quarter

27 Largest shareholders (30/04/2006) 1.Folketrygdfondet, NOR10.04% 2.State Street Bank & Clients, USA 6.88% 3.J. P. Morgan Chase Bank, GBR 6.18% 4.Skandinaviska Enskilda, NOR 6.03% 5.Oko Osuuspankkien KE Corp. Actions, FIN 4.13% 6.Skandinaviska Enskilda, SWE 3.82% 7.Bank of New York, USA 3.30% 8.Oslo Pensjonsforsikring, NOR 2.99% 9.Berit Ekornes Unhjem, NOR 2.81% 10.Nordea Bank Denmark, DEN 2.81% Other shareholders approx % Proportion:Norwegian shareholders39.7% Foreign shareholders60.3% 1. kvartal st Quarter

28 Board of DirectorsGroup Management Olav Kjell Holtan Berit Svendsen Jens P. Ekornes Torger Reve Carl Graff-Wang Employee Representatives: Arnstein Johannesen Tone Helen Hanken Ragna Skarshaug CEO Nils-Fredrik Drabløs Phone: Mobile: CFO Robert Svendsen Phone: Mobile: Marketing Director Runar Haugen International Marketing Director Svein Lunde 1. kvartal st Quarter