Interim report January

SUMMARY OF THE SECOND QUARTER, 1 April – 30 June 2013

  · Revenues for the quarter rose 19 per cent to SEK 1,591 M (1,341). Adjusted
for currency effects and calculated on a comparable number of workdays revenues
increased 20 per cent.
  · Excluding the acquisition of Meca (Meca excluding Denmark), adjusted for
currency effects and calculated on a comparable number of workdays, revenues
increased 2 per cent.
  · EBITA rose 26 per cent to SEK 195 M (154) and the EBITA margin amounted to
12 per cent (12).
  · EBIT increased 18 per cent to SEK 166 M (141) and the EBIT margin was 10 per
cent (11).
  · Profit after financial items increased 21 per cent to SEK 160 M (132).
  · Earnings per share before and after dilution increased to SEK 3.24 (2.65).
  · Net debt at the end of the period amounted to SEK 1,905 M (2,186), compared
with SEK 1,875 M at the end of the year.
  · Cash flow from operating activities amounted to SEK 262 M (120).
  · Refinancing totalling SEK 700 M with a five-year maturity term was signed
during the second quarter.

CEO’s comments

Good EBIT in the second quarter 2013

  · Revenues rose 19 per cent; EBIT increased 18 per cent
  · Cash flow from operating activities rose to SEK 262 M (120)
  · Weak earnings in Denmark, with a negative operating margin of 12 per cent
  · Higher operating margin in Mekonomen Nordics

Revenues for the Mekonomen Group in the second quarter of 2013 rose 19 per cent
to SEK 1,591 M (1,341) and the operating profit increased 18 per cent to SEK 166
M (141). Adjusted for currency effects and calculated on a comparable number of
workdays, revenues rose 20 per cent. Comparable sales increased 5 per cent.
EBITA increased 26 per cent to SEK 195 M (154).

The market displayed a slight increase during the period following six quarters
of negative growth.

MECA Scandinavia, excluding Denmark, reported EBIT of SEK 45 M, operating margin
of 11 per cent and net sales of SEK 423 M during the second 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 33 M and EBITA amounted
to SEK 51 M. EBIT in Denmark declined to a loss of SEK 12 M (loss: 3) and the
operating margin decreased to a negative 7 per cent (neg: 2). Earnings in
Denmark were impacted by lower sales, as well as non-recurring negative effects
of SEK 2 M (0). The underlying market in Denmark was weak, combined with
continued tough competition. The implementation of the action plan and the
reversal of the trend in Denmark will require additional time.

EBIT for Sørensen og Balchen declined to SEK 25 M (27) and the EBIT margin
decreased to 13 per cent (14). EBITA declined to SEK 30 M (31). Net sales rose
to SEK 195 M (194). The underlying net sales for the second quarter increased 3
per cent.

EBIT for Mekonomen Nordics rose to SEK 112 M (103) and the EBIT margin increased
to 14 per cent (13). EBITA increased to SEK 119 M (107) and the EBITA margin
rose to 15 per cent (14). The underlying net sales increased 4 per cent during
the second quarter. EBIT for Mekonomen Sweden was SEK 84 M (70), with an EBIT
margin of 17 per cent (16). EBIT for Mekonomen Norway was SEK 41 M (37), with an
EBIT margin of 19 per cent (17). The growth of proprietary Mekonomen Service
Centres was 13 per cent compared to the second quarter 2012.

Cash flow was strong during the quarter, partly as a result of reduced working
capital.

The number of affiliated workshops and sales through affiliated workshops
continued to increase during the period. This is a result of our customer focus
and purposeful quality efforts. It also applies to our own workshops, which
reported a positive trend.

Despite the slight upswing in the market during the quarter, we do not
anticipate any significant improvement during the remainder of 2013.
Accordingly, we will continue to implement successive measures to adapt to a
period of continued weak market conditions. During the first six months, we
consolidated the store network and reduced the number of stores by 13, which,
combined with other measures, had a positive impact on profitability for the
quarter.

While we are adapting costs, we will be investing for further expansion, in both
digital channels and in the development of our workshop concepts. We want to
make CarLife easier and with this as the objective in all our efforts, we will
ensure that we maintain the leading position in the Nordic market.

Håkan Lundstedt
President and CEO

For further information, please contact:
Håkan Lundstedt, President and CEO of Mekonomen AB, tel: +46 (0)8-464 00 00
Per Hedblom, CFO of 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 27 August 2013.
Interim report January – June 2013

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