Mekonomen Group

January - June 201526 August 2015

Second quarter of 2015

Revenue:

SEK 1,527 M (1,387)

EBITA:

SEK 224 M (210)

EBITA margin:

15 per cent (15)

EBIT:

SEK 197 M (182)

EBIT margin:

13 per cent (13)

Revenue rose 10 per cent

Sales in comparable units

+7 per cent

2

January - June 2015

Revenue:

SEK 2,909 M (2,677)

EBITA:

SEK 393 M (366)

EBITA margin:

14 per cent (14)

EBIT:

SEK 339 M (309)

EBIT margin:

12 per cent (12)

Revenue rose 9 per cent

Sales in comparable units

+6 per cent

3

Group companies

4

MECA – Second quarter of 2015

EBIT:

SEK 77 M (73)*

EBIT margin:

16 per cent (17)

Underlying net sales:

+13 per cent

Strong sales increase for affiliated

MECA Car Service workshops

Positive sales trend for ProMeister

contributed to higher volumes

First workshop under the

MECA+ concept opened in

Södertälje in June

MECA’s export business to

Denmark has weighed on the

result

* Acquisition-related items attributable to Mekonomen

AB’s direct acquisition of MECA have been reallocated

from the MECA segment to “Other.” Comparative

figures have been recalculated.

5

EBIT:

SEK 145 M (117)*

EBIT margin:

16 per cent (14)

Underlying net sales:

+10 per cent

Significant increase in sales to affiliated

MECA Car Service workshops

Positive sales trend for ProMeister

contributed to higher volumes

The cost-savings programme

implemented in 2014 had a positive

impact on earnings

Significant marketing and sales efforts

in the Danish export business has

affected the operating profit by

SEK -12 M

MECA January - June 2015

* Acquisition-related items attributable to Mekonomen

AB’s direct acquisition of MECA have been reallocated

from the MECA segment to “Other,” comparative

figures have been recalculated.

6

Mekonomen Sweden

– EBIT: SEK 83 M (70)

– EBIT margin: 16 per cent (15)

– Continued quality assurance of workshops resulted in a slight decline in the number of affiliated workshops

Mekonomen Norway

– EBIT: SEK 48 M (34)

– EBIT margin: 21 per cent (16)

– Strong sales to affiliated workshops

Mekonomen Nordic – Second quarter of 2015

7

EBIT:

SEK 124 M (104)

EBIT margin:

16 per cent (14)

Underlying net sales:

+8 per cent

ProMeister sales contributed to higher

volumes to other workshops

Increased sales to consumers, mainly

as a result of successful campaigns

Mekonomen Nordic January - June 2015

8

EBIT: SEK 206 M (192)

EBIT margin: 14 per cent (14)

Underlying net sales:

+6 per cent

ProMeister sales contributed to increased volumes to the segment other workshop

Previously announced measures to strengthen earnings by full-year effect of SEK 15 million has had effect

Mekonomen Sweden

–EBIT: SEK 140 M (132)

–EBIT margin: 14 per cent (15)

Mekonomen Norway

–EBIT: SEK 81 M (67)

–EBIT margin: 19 per cent (17)

Positive sales trend

to affiliated BilXtra workshops

A weaker NOK rate, mainly

compared with EUR, had a

negative impact of SEK 3 M on

earnings

EBIT:

SEK 35 M (34)

EBIT margin:

17 per cent (18)

Underlying net sales:

+8 per cent

Sørensen og Balchen – Second quarter of 2015

9

* Acquisition-related items attributable to Mekonomen

AB’s direct acquisitions have been reallocated from

Segment Sørensen og Balchen to “Other.” Comparative

figures have been recalculated.

A weaker NOK rate, mainly

compared with EUR, had a

negative impact of SEK 6 M on

earnings

Favourable sales trend to

consumers in the first six months

of the year

EBIT:

SEK 60 M (58)

EBIT margin:

15 per cent (16)

Underlying net sales:

+9 per cent

Sørensen og Balchen January - June 2015

10

* Acquisition-related items attributable to Mekonomen

AB’s direct acquisitions have been reallocated from

Segment Sørensen og Balchen to “Other.” Comparative

figures have been recalculated.

The Norwegian krone has weakened

11

A weakening of the SEK / NOK with one percentage point gives,

other things being equal, a negative impact of SEK 8 M on

Mekonomen Group's full-year profit after tax (based on the 2014

financial year)Source: Swedish Riksbank

Market performance

and trends

12

Growth by customer group for the second quarter of 2015– strong growth in all customer groups

13

Affiliated workshops

Local currency

+15%

Other workshops

Local currency

Nominal outcome

+8%

Consumers

Local currency

+3%

+16% +9% +4%

Growth by customer group for January - June 2015– strong growth in all customer groups

14

Affiliated workshops

Local currency

+13%

Other workshops

Local currency

Nominal outcome

+8%

Consumers

Local currency

+4%

+13% +8% +4%

36,1 (34,3)

22,2 (23,5)

41,7 (42,2)

Distribution, customer groups

15

Affiliated workshopsOther workshops

Q2 2015

(Q2 2014)

Percentage change

Stores

16

20

6

22

0

23

0 25

7

25

4

23

8

19

6

19

2

19

2

77

78

74

71

71

71

89

86

87

87

87

0

50

100

150

200

250

300

350

400

450

2008 2009 2010 2011 2012 2013 2014 Q12015

Q22015

Mekonomen BilXtraMECA Own

Workshops

17

852

910

973

1033

1094

1097

1075

1037

987

199 296 363 420

426

378

355

338

298

219

225

243

232

233

236

546

570

628

626

638

0

200

400

600

800

1 000

1 200

1 400

1 600

1 800

2 000

2 200

2 400

2 600

2008 2009 2010 2011 2012 2013 2014 Q12015

Q22015

Mekonomen MekoPartner BilXtra Speedy MECA Car Service

ProMeister

18

0,0%

2,0%

4,0%

6,0%

8,0%

10,0%

12,0%

14,0%

ProMeister share of spare parts sales

0,0%

10,0%

20,0%

30,0%

40,0%

50,0%

60,0%

ProMeister brake share of total brake sales MECA

Market – Vehicle miles traveled and number of cars in the car fleet

19

Consistent development in the number of vehicle miles traveled and some increase in the

number of cars in the car park means a stable market development

Opus Equipment

20

Transfer on 1 July 2015

Integration according to plan

Key customers still in place –

key employees retained in the

company

Supplementary business for

affiliated and other workshops

Focus on ProMeister’s range of

workshop equipment

Assembly and service companies

already established in Sweden –

now also being established in

Norway

123135

4,8 7,7

0

20

40

60

80

100

120

140

160

2013 2014

SEK M Financials - Opus Equipment

Net sales EBITDA

Focus 2015/2016

21

Focus 2015/2016

22

Group-wide functions in purchasing & category, supply chain and IT- Effective range and continued focus on margin

- Efficient supply chain

Growth and innovation

Continued focus on ProMeister, ProMeister Academy- Products and training

Strategic projects – E-commerce platform for B2B and B2C, PIM

Continued quality assurance of workshops and

concepts

Innovation – Lasingoo

23

New advertising concept

Successful marketing

during the summer

Positive trend for sales of car

service to consumers

Launch in Norway in September

2015

Mekonomen Group owns Lasingoo Sverige

jointly with leading players in the industry: AD

Bildelar, Autoexperten, Bosch, Hedin Bil and

OKQ8

24

Strategic projects– New e-commerce platform, PIM

Expanded range and increased availability for B2B and B2C

Easier for customers to place orders

Increased internal efficiency

From three order catalogues to one Group-wide order

catalogue (PIM)- integrated into the new e-commerce platform

New e-commerce platform for B2B and B2C - next step in the Group’s digital development, more powerful performance,

integration of current coexisting platforms in the group companies

25

Focus on quality

Mekonomen Grossist named as one of three finalists for the

Swedish Lean Prize 2015. The prize is awarded by the Lean

Forum. The winner will be announced on 6 October 2015

Marcus Morén of MECA placed fifth in the WorldSkills

Competition in the category of Automobile Technology and

received a Medallion of Excellence, awarded to competitors who

demonstrate exceptionally high-quality skills and received high

scores.

Appendix

26

27

Earnings trend

SU M M A R Y OF

THE GR OU P’S

EA R N IN GS TR EN D

SEK M Cha nge % Cha nge %

Revenue 1 527 1 387 10 2 909 2 677 9 5 622 5 390

Operat ing prof it before

amort isat ion and impairment of

intangible f ixed assets (EBITA) 224 210 7 393 366 7 791 763

EBIT 197 182 8 339 309 10 669 639

Prof it after f inancial items 188 181 4 332 304 9 648 620

Prof it after tax, cont inuing

operat ions 138 137 0 243 229 6 480 466

Prof it after tax, discontinued

operat ions -1 -27 -97 -1 -51 -98 -290 -340

Prof it after tax 137 110 24 242 178 36 191 127

Earnings per share, cont inuing

operat ions, SEK 3,74 3,74 0 6,62 6,24 6 13,18 12,80

Earnings per share, discontinued

operat ions, SEK -0,02 -0,75 -97 -0,03 -1,42 -98 -8,07 -9,46

Earnings per share, SEK 3,72 2,99 25 6,59 4,82 37 5,12 3,34

EBITA margin, % 15 15 14 14 14 14

EBIT margin, % 13 13 12 12 12 12

The amount s in t he t able above pert ain t o cont inuing operat ions, except f or Prof it af t er t ax and Earnings per share. Comparat ive f igures have been rest at ed.

2015 2014 July - June 20142015 2014

A pr - Jun F ull-year A pr - Jun Jan - Jun Jan - Jun 12 mo nths

28

Quarterly data

QUA R T ER LY D A T A , C ON T IN UIN G 2015

OP ER A T ION S, SEK M Q2 Q1 F Y Q4 Q3 Q2 Q1 F Y Q4 Q3 Q2 Q1

Revenue 1 527 1 382 5 390 1 373 1 340 1 387 1 290 5 251 1 318 1 269 1 422 1 245

EBITA 224 169 763 184 214 210 156 683 146 188 207 142

EBIT 197 142 639 145 186 182 126 527 75 159 178 115

Net financial items -9 2 -19 -3 -12 -1 -4 -39 -2 -15 -6 -15

Profit after financial items 188 144 620 142 174 181 123 489 73 144 172 99

Tax -50 -39 -153 -40 -38 -44 -31 -129 -18 -38 -46 -27

Profit for the period 138 105 466 102 135 137 92 360 55 106 127 72

EBITA margin, % 15 12 14 13 16 15 12 13 11 15 15 11

EBIT margin, % 13 10 12 11 14 13 10 10 6 13 13 9

Earnings per share, continuing operations,

SEK 3,74 2,88 12,80 2,87 3,69 3,74 2,50 9,81 1,57 2,84 3,43 1,97

Earnings per share, discontinued operations, SEK-0,02 -0,01 -9,46 -7,55 -0,49 -0,75 -0,67 -1,25 -0,69 -0,18 -0,19 -0,20

Earnings per share, SEK 3,72 2,87 3,34 -4,68 3,20 2,99 1,83 8,56 0,88 2,67 3,24 1,77

Shareholders’ equity per share, SEK 56,9 61,0 57,5 57,5 65,0 60,9 64,6 62,1 62,1 61,4 60,4 64,0

Cash flow per share, SEK1)3,8 -1,3 11,5 5,0 3,2 5,4 -2,0 15,5 4,8 3,0 7,3 0,4

Return on equity, %2)21,9 21,3 20,6 20,6 18,3 17,2 16,6 15,7 15,7 - - -

1) The key f igures are calculat ed including discont inued operat ions f or each quart er.

2) The key f igures f or ret urn on shareholders’ equit y are calculat ed on a rolling 12-mont h basis f or cont inuing operat ions f or each quart er . Ret urn on shareholders’ equit y ,

quart ers 1-3 2013 was not rest at ed f or cont inuing operat ions.

20132014

29

Cash flow

C ON D EN SED C ON SOLID A T ED

C A SH -F LOW ST A T EM EN T , SEK M

Operat ing act ivit ies

Cash flow from operating activities before

changes in working capital, excluding

tax paid 183 203 335 354 692 711

Tax paid -81 -77 -153 -126 -187 -160

C ash f lo w fro m o perat ing act ivit ies

befo re changes in wo rking capital 102 126 181 228 505 552

Cash flow from changes in working capital:

Changes in inventory 49 8 30 -3 -26 -59

Changes in receivables 22 55 -75 -98 -38 -62

Changes in liabilities -36 4 -47 -4 -60 -17

Increase (–)/decrease (+) restricted

working capital 35 67 -92 -106 -124 -138

C ash f lo w fro m o perat ing act ivit ies 137 192 89 122 381 413

C ash f lo w fro m invest ing act ivit ies -25 -36 -44 -60 -104 -121

C ash f lo w fro m f inancing act ivit ies -234 -175 -52 -78 -284 -309

C A SH F LOW F OR T H E P ER IOD -122 -19 -7 -16 -7 -17

380 287 258 279 272 279

1 4 7 10 -7 -4

259 272 259 272 259 258

July - June

Jan - Jun 12 mo nths

20152015 2014

A pr - Jun

2014

C A SH A N D C A SH EQUIVA LEN T S

A T T H E B EGIN N IN G OF T H E

P ER IOD

C A SH A N D C A SH EQUIVA LEN T S

A T T H E EN D OF T H E P ER IOD

Exchange-rate difference in cash and cash

equivalents

F ull-year

2014

A pr - Jun Jan - Jun

30

Income statement

C ON D EN SED C ON SOLID A T ED IN C OM E

ST A T EM EN T , SEK M

C o ntinuing o perat io ns:

Net sales 1 489 1 354 2 835 2 609 5 488 5 262

Other operating revenue 38 33 74 68 134 128

T o tal revenue 1 527 1 387 2 909 2 677 5 622 5 390

Goods for resale -675 -606 -1 274 -1 163 -2 448 -2 337

Other external costs -291 -261 -577 -524 -1 097 -1 044

Personnel expenses -322 -296 -635 -591 -1 228 -1 185

Depreciation and impairment o f tangible

fixed assets -15 -14 -29 -32 -58 -61

Operat ing pro f it befo re amo rt isat io n and

impairment o f intangible f ixed assets

(EB IT A ) 224 210 393 366 791 763

Amortisation and impairment o f intangible

fixed assets -27 -28 -54 -57 -121 -124

EB IT 197 182 339 309 669 639

Interest income 1 1 3 3 6 6

Interest expenses -8 -10 -17 -21 -37 -41

Other financial items -3 8 7 13 10 16

P ro f it af ter f inancial items 188 181 332 304 648 620

Tax -50 -44 -89 -75 -168 -153

P R OF IT F OR T H E P ER IOD F R OM

C ON T IN UIN G OP ER A T ION S 138 137 243 229 480 466

D isco ntinued o perat io ns:

Loss for the period from discontinued operations 1) -1 -27 -1 -51 -290 -340

P R OF IT F OR T H E P ER IOD 137 110 242 178 191 127

N et pro f it fo r the perio d attributable to :

Parent Company’s shareholders 134 107 237 173 184 120

M inority owners 3 3 5 5 7 7

P R OF IT F OR T H E P ER IOD 137 110 242 178 191 127

F ull-year

2014

12 mo nths

July - June

Jan - Jun

2014

Jan - Jun

2015

A pr - Jun

2015 2014

A pr - Jun

31

Balance sheet

C ON D EN SED C ON SOLID A T ED B A LA N C E SH EET

SEK M

A SSET S 1 )

Intangible fixed assets 2 788 2 893 2 813

Tangible fixed assets 189 240 201

Financial fixed assets 57 72 65

Deferred tax assets 54 25 55

Goods for resale 1 181 1 241 1 223

Current receivables 864 838 769

Cash and cash equivalents 259 272 258

T OT A L A SSET S 5 392 5 580 5 384

SH A R EH OLD ER S’ EQUIT Y A N D LIA B ILIT IES 1 )

Shareholders’ equity 2 053 2 192 2 080

Long-term liabilities, interest-bearing 1 540 1 636 1 404

Deferred tax liabilities 156 201 168

Long-term liabilities, non-interest-bearing 3 1 3

Current liabilities, interest-bearing 572 496 495

Current liabilities, non-interest-bearing 1 068 1 055 1 234

T OT A L SH A R EH OLD ER S’ EQUIT Y A N D LIA B ILIT IES 5 392 5 580 5 384

1) The carrying amount s of f inancial asset s and liabilit ies are measured at eit her f air value or a reasonable approximat ion of f air value.

20142015

31 D ecember30 June 30 June

2014

32

Largest owners as of 2015-06-30

Vo ting rights and

Share capitals, %

Ax:son Johnson Antonia company 26,5

SHB Fonder 8,4

Fraim-Påhlman Eva 5,6

Lannebo fonder 4,8

Swedbank Robur fonder 3,4

Columbia fonder 3,2

Fraim-Sefastsson Ing-Marie 2,8

Norges Bank Investment Management 2,5

Skandia Liv 2,4

Fjärde AP-fonden 2,0

Summa 10 största aktieägarna 61,6

Övriga 38,4

Total 100,0