Interim report January – June 2012

1 April – 30 June

  · Revenues increased 15 per cent adjusted for currency effects and calculated
on comparable workdays. Prior to adjustment, revenues increased 15 per cent to
SEK 1,341 M (1,169).
  · Adjusted for Meca the growth was 0 per cent.
  · EBIT declined 19 per cent to SEK 141 M (173) and the EBIT margin was 11 per
cent (15).
  · Adjusted for Meca and costs connected to the acquisition of Meca EBIT
declined to SEK
120 M (173).
  · Profit after financial items declined 21 per cent to SEK 132 M (167).
  · Profit after tax totalled SEK 93 M (122).
  · Earnings per share before and after dilution amounted to SEK 2.65 (3.67).

1 January – 30 June

  · Revenues increased 19 per cent adjusted for currency effects and calculated
on comparable workdays. Prior to adjustment, revenues increased 20 per cent to
SEK 2,437 M (2,032).
  · EBIT declined 6 per cent to SEK 252 M (269) and the EBIT margin was 10 per
cent (13).
  · Profit after financial items declined 9 per cent to SEK 238 M (261).
  · Profit after tax totalled SEK 170 M (191).
  · Earnings per share before and after dilution amounted to SEK 4.95 (5.75).
  · Net debt at the end of the period totalled SEK 2,186 M (671).

Significant events

  · During the second quarter, the acquisition of Meca on 23 May 2012 had a
positive impact of SEK 173 M on net sales and SEK 32 M on EBIT. Additionally,
transaction costs connected to the acquisition of Meca had a negative impact of
SEK 11 M on EBIT.

CEO’s comments

Stronger market share in weak market

  · Revenues for the second quarter of 2012 rose 15 per cent, including Meca,
which is included from 23 May
  · The initiated integration of Meca has been successful
  · Lower earnings impacted by weak market

Mekonomen’s EBIT for the second quarter of 2012 declined 19 per cent to SEK 141
M (173). Costs for Mekonomen’s long-term investments regarding Mega facilities,
the establishment in Finland, the marine venture and proprietary workshops of
SEK 9 M (10) is included. Transaction costs related to the acquisition of Meca
of SEK 11 M (0) during the second quarter has also affected the result. Adjusted
for Meca and transaction costs related to the acquisition of Meca, EBIT declined
to SEK 120 M (173). Revenues increased 15 per cent to SEK 1,341 M (1,169) and
the EBIT margin was 11 per cent (15). Adjusted for Meca the growth was 0 per
cent in a market which declined approximately 7 per cent during the quarter.
Focus during the quarter was on further consolidating our operation.

Another strong focus was on integrating Meca and Sørensen og Balchen, which has
been successful. Following the acquisitions, both Meca and Sørensen og Balchen
have reported good earnings.

Meca, which was acquired on 23 May 2012, reported a strong performance and the
integration is progressing ahead of schedule. Net sales from 23 May to 30 June
amounted to SEK 173 M and EBIT, which was positively impacted by synergy
effects, to SEK 32 M.

Sørensen og Balchen was impacted by a weak consumer market. Net sales during the
second quarter declined to SEK 194 M (199) and the EBIT margin was 14 per cent
(18). EBIT during the second quarter of 2011 had been positively impacted by a
seasonal effect pertaining to the holiday pay debt.

Mekonomen Norway reported an EBIT margin of 17 per cent (18). Net sales were
unchanged during the quarter. Sales to affiliated workshops developed well, as
did the Fleet division, which secured several new contracts.

EBIT in Denmark declined to a loss of SEK 6 M (profit: 26), with a negative EBIT
margin of 3 per cent
(pos: 13), due to a rapid deterioration of the market conditions and an increase
in competitive pressure, which had a negative impact on the gross margin. The
EBIT margin for the first half of the year was 1 per cent (11). The underlying
second-quarter net sales declined 2 per cent. Net sales during the second
quarter fell to
SEK 187 M (195), in a market that contracted more than 10 per cent in Denmark.
We are currently implementing strong measures to adapt the structure and fixed
costs in Denmark to the prevailing market situation, but with a focus on
retaining our strong position in this market.

The second-quarter EBIT margin in Sweden was 16 per cent (18). Net sales fell 4
per cent and the underlying net sales decreased 3 per cent. Sales to affiliated
workshops developed well.

In Finland, four new Medium units were established during the second quarter. We
are noting a positive trend in the new units that have been established.

Mekonomen’s marine venture displayed a favourable sales trend, with a 32 per
-cent year-on-year increase during the first half of 2012 in a sharply declining
market. However, the area represents a small portion of the Group's total
business.

New car sales have decreased and car owners are postponing service and repairs.
Although we anticipate a continued weak market for the remainder of 2012, we
discern several parallels with 2008, when the market displayed the same patterns
and subsequently increased in the following years. For Mekonomen, this means
that consolidation of the operations will continue in 2012. It also means that
we have an opportunity to capture additional market share and strengthen our
position. In the consolidation of our industry, Mekonomen has taken the lead and
the acquisition of Meca is a clear example of this. We see healthy potential for
organic growth in coming years.

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 11 May 2012.
Mekonomen makes CarLife easier through a wide and easily accessible range of
affordable and innovative solutions and products for consumers and companies. We
are the leading spare-parts chain in the Nordic region, with proprietary
wholesale operations, more than 400 stores and more than 2,200 workshops
operating under the Mekonomen brands.