Deterioration in market conditions requires revision of sales and profit outlook

Deterioration in market conditions requires revision of sales and profit outlook

Due to the rapid decline in market conditions since mid-November, Haldex will
not achieve its earlier communicated targets for sales and operating profit* for
2008. 

Haldex's interim report, published on October 24, included an assessment that
sales and operating profit* would rise in 2008 compared with 2007.    

Haldex's assessment is now that sales for the current year will amount to SEK
8.3 billion, and that operating profit* will be significantly lower due to
reduced sales, primarily during the latter part of the fourth quarter. 

The demand trend weakened gradually during the year as the autumn's
international financial crisis was followed by an increasingly rapid global
economic decline. The swiftly accelerating events of November and December are
forcing Haldex, as well as many of Haldex's client companies, to reduce or
completely cease production for a number of weeks during the November/January
period. 

Haldex has responded to the rapidly bleaker market outlook by increasing the
pace of the cost-cutting program presented in October. A part of the program
includes the need to reduce the workforce. The figure stated in the interim
report on October 24 was a reduction by 700 employees up to mid-2009. The
extended cost cutting program has been revised to include a larger number of
employees. 

In January, Haldex announced that it was assessing various strategic
possibilities for the Garphyttan Wire division, including a potential divestment
of the operations. A process aimed at divesting the division started some time
ago.   


*excl restructuring cost and purchase price allocation



For additional information, please contact Joakim Olsson, President and Group
CEO, phone. +46 8 545 049 52 or +46 70 545 86 54 or Stefan Johansson, CFO,
phone. +46 8 545 049 52 or +46 70 224 24 01.

Haldex (www.haldex.com), headquartered in Stockholm, Sweden, is a provider of
proprietary and innovative solutions to the global vehicle industry, with focus
on products in vehicles that enhance safety, environment and vehicle dynamics.
Haldex is listed on the Stockholm Stock Exchange and has annual sales of nearly
8 billion SEK with 6,000 employees.


Haldex discloses the information in this press release according to the Swedish
Securities Market Act and/or the Swedish Financial Trading Act. The information
was provided for public release on Friday, 19 December 2008.