Interim report January – March 2013


• Revenues for the quarter rose 36 per cent adjusted for currency effects and
calculated on a comparable number of workdays. Prior to adjustment, revenues
increased 28 per cent to SEK 1,405 M (1,096).
• Excluding the acquisition of Meca (Meca excluding Denmark), adjusted for
currency effects and calculated on a comparable number of workdays, revenues
declined 2 per cent.
• EBITA rose 9 per cent to SEK 129 M (119) and the EBITA margin was 9 per cent
(11).
• EBIT declined 7 per cent to SEK 103 M (111) and the EBIT margin was 7 per cent
(10). Earnings were negatively impacted by non-recurring effects of SEK 8 M (0)
in Denmark.
• Excluding the acquisition of Meca (Meca excluding Denmark), operating profit
declined to SEK 70 M (111).
• Profit after financial items declined 18 per cent to SEK 87 M (106).
• Profit after tax amounted to SEK 65 M (77), has been positively impacted by
reduced corporate tax in Sweden.
• Earnings per share before and after dilution amounted to SEK 1.77 (2.29).
• Net debt at the end of the period amounted to SEK 1,878 M (611) compared to
SEK 1,875 M at year end.

Significant events

• The acquisition of Meca on 23 May 2012 had a positive impact of SEK 394 M
during the first quarter of 2013, as well as SEK 1,000 M for the 23 May – 31
December 2012 period. EBIT was positively impacted by SEK 33 M during the first
quarter of 2013 and SEK 130 M during the 23 May – 31 December 2012 period.

CEO’s comments

Continued investments in a weak first quarter

* Revenues rose 28 per cent, EBIT declined 7 per cent
* Weak earnings in Denmark, the operating margin was a negative 8 per cent

Revenues for the Mekonomen Group for the first quarter of 2013 rose 28 per cent
to SEK 1,405 M (1,096) and the EBIT declined 7 per cent to SEK 103 M (111).
Adjusted for currency effects and calculated on comparable number of workdays,
revenues rose 36 per cent. EBITA increased 9 per cent to SEK 129 M (119).

The weak underlying market was affected by fewer workdays compared with the year
-earlier period.

MECA Scandinavia, excluding Denmark, reported EBIT of SEK 33 M and net sales of
SEK 394 M during the first quarter. EBIT was charged with amortisation of
intangible assets totalling SEK 15 M identified in connection with the
acquisition. The integration work remained successful. The total EBIT for MECA,
including Denmark, amounted to SEK 21 M and EBITA was SEK 38 M. EBIT in Denmark
declined to a loss of SEK 13 M (profit: 12) and the EBIT margin decreased to a
negative 8 per cent (pos: 6). Earnings in Denmark were impacted by lower gross
margin and sales, as well as non-recurring effects of SEK 8 M. In Denmark, we
have a weak underlying market combined with continued intense competition. A new
management was appointed in Denmark to implement the action plan. Denmark is an
important market and the focus is on turning around our operations in Denmark.
Additional structural expenses totalling SEK 15 M are expected to impact
Denmark’s earnings during the second quarter of 2013.

EBIT for Sørensen og Balchen rose to SEK 15 M (11) and the EBIT margin increased
to 8 per cent (6). EBITA increased to SEK 19 M (16). The earnings increase
occurred in a weak consumer market during the first quarter, where the net sales
for Sørensen og Balchen declined to SEK 174 M (186). The underlying net sales
rose 2 per cent, thanks to the continued development of Sørensen og Balchen’s
strong brands and concept and the successful integration into the Mekonomen
Group.

EBIT for Mekonomen Norden declined to SEK 75 M (94) and the EBIT margin
decreased to 11 per cent (13). EBITA declined to SEK 80 M (97) and the EBITA
margin decreased to 12 per cent (13). The underlying net sales declined 2 per
cent. EBIT for Mekonomen Sweden was SEK 62 M (72), with an EBIT margin of 15 per
cent (16). EBIT for Mekonomen Norway was SEK 25 M (30), with an EBIT margin of
13 per cent (15).

During 2013, we will also be reviewing our costs, stores and logistics structure
and implementing successive measures to adapt to a period of continued weak
market conditions. During the quarter we have consolidated the store network and
reduced the number of stores by eight. Mekonomen makes initiatives to strengthen
our presence and our sales in digital channels and we expand our product and
service range to continue capturing market shares. Car-glass was launched in
February and vehicle insurance in March. Mekonomen Norden’s new e-commerce
website was launched in April.

With our strong concepts and the investments we implement, I confidently look
forward to the rest of 2013. With a strong focus on quality that clearly places
the customer in focus, the Mekonomen Group is the winner in the Nordic market.

Håkan Lundstedt
President and CEO

For further information, please contact:
Håkan Lundstedt, President and CEO Mekonomen AB, Tel: +46 (0)8-464 00 00
Per Hedblom, CFO Mekonomen AB, Tel: +46 (0)8-464 00 00
Gunilla Spongh, Head of International Business Mekonomen AB, Tel: +46 (0)8-464
00 00

The information in this interim report is such that Mekonomen is obligated to
publish in accordance with the Securities Market Act.
The information was submitted for publication on 8 May 2013.

Anhänge

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