2009 12-18 q1 2009/2010 results

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Håkan Westin CFO

• Q1 2009/2010• Market situation• Conclusions• Questions

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Christian W. JanssonCEO

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• Best first quarter ever• Strong gross margin• Good cost control• Weak like-for-like • 18 new stores• The Czech Republic

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4/13

95

150 55

36

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• 337 stores• 18 new stores during Q1• The Czech Republic• Significant contribution from

new stores in sales and profit• 35 new stores under contract

Prague

Warsaw

Stockholm

HelsinkiOslo

1

5/13

• Net sales MSEK 1 344 (1 266), an increase of 6 percent

• Operating profit MSEK 207 (176), an increase of 18 percent

• Gross margin 65,0 (64.3) percent and operating margin 15,4 (13.9) percent

• Net profit MSEK 178 (113), equivalent to SEK 2,37 (1.51) per share

• Cash flow from continuing operations MSEK 133 (127)

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Sept to Nov 2009

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113178-44-11157189-19-18

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-605-630814874

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2008/092009/10

Net profitTax expenseProfit before taxFinancial expenseFinancial incomeOperating profitAdministrative expensesSelling expensesGross profitCost of goods soldNet salesMSEK

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Sept to Nov 2009

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2008/092009/10

Cash flow for the periodChange bank overdraft facilityCash flow after investmentsCash flow from investment activitiesCash flow from continuing operationsChanges in working capital

Cash flow from continuing operations before changes in working capital

MSEK

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+6.21 344Net sales Q1 2009/10

+1.3Currency effect

-1.4Like For Like

+6.3New stores net

1 266Net sales Q1 2008/09

%MSEK

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118 %Operating income

105 %Costs

107 %Gross profit

106 %Sales

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Sept to Nov 2009

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• The consumers slightly more positive

• Growing unemployment• A strong and stable concept

helps in an unstable market

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• Strong gross margin• Weak like-for-like • Cost containment• Expansion plans continues• Strong business concept –

proven long term stability

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