Interim report, January–March 2012

Stable demand

  · Net revenues amounted to MSEK 718 (721).
  · Profit after
net financial items totaled MSEK 97.9 (108.7).
  · Earnings per share after tax
amounted to SEK 2.37 (2.60).
  · Healthy cash flow of MSEK 57.2 (9.4) and
continued strong finances, with net cash of MSEK 76 (16).

Group
The demand
scenario is largely in line with the end of 2011. The trend was stable in most
market segments, with no major increases or decreases in sales. However,
Lesjöfors experienced lower demand for chassis springs than in the year-earlier
period, partly due to the mild winter, which reduced the need for replacement
parts. Overall, the Group’s order bookings were weak at start of the quarter,
but in line with invoicing during February and March.

The Group’s order
bookings amounted to MSEK 706 (762), down 7 percent. Invoicing declined less
than 1 percent to MSEK 718 (721). In comparable units, order bookings fell 8
percent and invoicing slightly more than 1 percent. Operating profit totaled
MSEK 100.1 (111.3) and the operating margin was 14.0 percent (15.4). Profit
after net financial items amounted to MSEK 97.9 (108.7). Earnings per share
totaled SEK 2.37 (2.60).

Cash flow after capital expenditures amounted to
MSEK 57.2 (9.4 excluding corporate acquisitions). Net cash totaled MSEK 76.3
(15.9). As in 2011, a dividend of MSEK 211 (211) was approved, but had not been
paid as of the balance-sheet date. The amount has been entered as a liability
and reduced the company’s shareholders’
equity.  

Subsidiaries

Lesjöfors
Lesjöfors AB is a full-range supplier of
standard and specially produced industrial springs, wire and flat strip
components. The company is a dominant player in the Nordic region and one of the
largest companies in its industry in Europe. Lesjöfors has manufacturing
operations in Sweden, Denmark, Finland, Germany, Latvia, the UK and
China.

Order bookings declined 13 percent compared with the strong first
quarter in the preceding year and amounted to MSEK 351 (402). Invoicing totaled
MSEK 355 (380), down 7 percent. Lesjöfors’s operating profit amounted to MSEK
78.1 (97.6).

Lesjöfors’s operations are conducted in three business areas:
Industrial Springs, Flat Strip Components and Chassis Springs. Industrial
Springs and Flat Strip Components sell to the engineering industry, while
Chassis Springs targets the aftermarket for vehicles. Industrial Springs and
Flat Strip Components delivered approximately the same volumes as in the year
-earlier period. Demand in Chassis Springs was significantly lower than in the
corresponding period in 2011, partly due to the mild winter, which reduced the
need for replacement parts. However, the decline affected the market as a whole
and Lesjöfors did not lose any market shares.

Habia Cable
Habia Cable AB is
one of Europe's largest manufacturers of custom-designed cable for customers in
the telecom, transport, nuclear power, defense and other industries.
Manufacturing is carried out in Sweden, Germany, China and Poland and sales are
conducted in Europe, Asia and North America.

Order bookings amounted to MSEK
154 (170), down 10 percent. Invoicing increased 7 percent to MSEK 162 (151).
Operating profit totaled MSEK 15.3 (3.8). During the first quarter of 2011, the
company recognized MSEK 7.2 in expenses in conjunction with the appointment of a
new President.

Habia started the year with weak order bookings, particularly
from the telecom sector. Demand gradually recovered and order bookings and
invoicing were in balance during the second half of the quarter. A new
divisional organization was implemented during the period. The new organization
provides a better focus on strategically prioritized businesses and
markets.

Beijer Tech
Beijer Tech AB specializes in industrial trading in the
Nordic region and represents several of the world’s leading manufacturers. The
company's operations are conducted in two business areas: Industrial Products
and Fluid Technology/Industrial Rubber.

Order bookings and invoicing amounted
to MSEK 201 (190), up 6 percent. The increase in comparable units was 1 percent.
Operating profit totaled MSEK 12.5 (14.4).

The Fluid Technology and
Industrial Products business areas both experienced stable demand, with no
significant growth. The unfavorable product mix in the Industrial Products
business area had a somewhat negative impact on the company’s margins.

Parent
Company
The Parent Company, Beijer Alma AB, is a holding company that does not
conduct external invoicing. The Parent Company reported an operating loss of
MSEK 5.7 (loss: 4.6).

If you have any questions, please contact:
Bertil
Persson, President and CEO, Telephone +46 8 506 427 50,
bertil.persson@beijeralma.se
Jan Blomén, Chief Financial Officer, Telephone +46
18 15 71 60, jan.blomen@beijeralma.se

Read more at:
www.beijeralma.se

Visit our
subsidiaries:
www.lesjoforsab.com
www.habia.com
www.beijertech.se