1

Q2 2014

Revenues:

SEK 1 534 M (1 591)

EBITA:

SEK 184 M (195)

EBITA margin:

12 per cent (12)

EBIT:

SEK 157 M (166)

EBIT margin:

10 per cent (10)

Profit after financial items:

SEK 154 M (160)

Profit after tax:

SEK 110 M (120)

Earnings per share:

SEK 2,99 (3,24)

2

January - June 2014

Revenues:

SEK 2 975 M (2 997)

EBITA:

SEK 318 M (324)

EBITA margin:

11 per cent (11)

EBIT:

SEK 260 M (268)

EBIT margin:

9 per cent (9)

Profit after financial items :

SEK 253 M (247)

Profit after tax:

SEK 178 M (185)

Earnings per share:

SEK 4,82 (5,01)

3

MECA

MECA excluding Denmark

EBIT: SEK 58 M (45)

EBIT margin: 14 per cent (11)

EBITA: SEK 76 M (63)

EBITA margin 18 per cent (15)

Underlying net sales: +2 per cent

Cost efficiency has contributed to the improved EBIT

MECA including Denmark

EBIT: SEK 32 M (33)

EBIT margin: 6 per cent (6)

EBITA: SEK 51 M (51)

EBITA margin: 9 per cent (9)

4

EBIT: SEK -26 M (-12)

EBIT margin: -17 per cent (-7)

Net sales: SEK 145 M (169)

Focus on profitability over sales

Good development for our concept workshops

Reduced costs through merger and discontinuation of 7 stores

Reduction in staff by 70 individuals

Operating profit was impacted by non-recurring effects of SEK 9 M (2)

Non-recurring costs are expected to amount to SEK 10 M in the third quarter

Denmark

5

Denmark

6

Launch of a wider range of ProMeister products in Denmark, including campaigns on national television and targeted sales activities

Marketing initiatives for Mekonomen Autoteknik and MekoPartner

EBIT: SEK 104 M (112)

EBIT margin: 14 per cent (15)

EBITA: SEK 108 M (119)

EBITA margin: 15 per cent (16)

Underlying net sales: -2 per cent

ProMeister sales contributed to higher volumes to other workshops

Mekonomen Sweden

EBIT: SEK 70 M (84)

EBIT margin: 15 per cent (17)

Mekonomen Norway

EBIT: SEK 34 M (41)

EBIT margin: 16 per cent (19)

Operating profit was impacted by lower sales

Mekonomen Nordic

7

EBIT: SEK 29 M (25)

EBIT margin: 15 per cent (13)

EBITA: SEK 34 M (30)

EBITA margin: 18 per cent (15)

Underlying net sales remained unchanged

Increased efficiency on store level has contributed to the improved operating profit

Reinforced position on the Norwegian market

Good development for the consumer affair

Sørensen og Balchen

8

Market development

9

- Factors affecting our industry

The market size is affected by

the number of cars

10

0

500

1 000

1 500

2 000

2 500

3 000

3 500

4 000

4 500

5 000

2004 2005 2006 2007 2008 2009 2010 2011 2012 2013

4 113 4 154 4 202 4 258 4 279 4 301 4 335 4 401 4 447 4 495

Number of cars in Sweden 2004 – 2013 ('000)

1,3%

-0,3% -0,4%

-0,2%

0,0%

0,2%

0,4%

0,6%

0,8%

1,0%

1,2%

1,4%

1,6%

1999-2008 2008-2013

Annual percentage growth in the number of kilometers

driven, Sweden 1,9%

1,2%

0,0%

-0,5%

0,0%

0,5%

1,0%

1,5%

2,0%

2,5%

1988-2008 1999-2008 2008-2013

Annual percentage growth in the number of miles

driven, U.S.

The market size is affected by

the number of miles driven

Source: Traffic Volume Trends, U. S. Department of Transportation/Federal Highway Administration

11

Market development in the

Nordic region

12

-2% -3% -2%

1% 0% 0% 2%

4% 5%

6% 3% 5%

2% 0%

4%

-3% -1%

-7% -6%

-3%

-6%

1% 1%

-3%

3%

-3%

3%

7% 5%

6%

19%

17%

23%

18%

8% 9%

4%

9% 7% 6%

10%

2%

10%

0%

-4%

3%

-6%

1%

-1%

-7%

3%

-4%

-2%

-10%

-5%

0%

5%

10%

15%

20%

25%

Nordic aftermarket Mekonomen Group. From Q2 2012: incl SogB. From Q3 2012 incl MECA Mekonomen Group excl Denmark.

Growth per customer group

January – June 2014

+3%

Affiliated workshops

excl. DK

Local currency

Nominal outcome

+1% +0% -2%

+3%

-0%

Other workshops

excl DK

Consumers

excl DK

13

36,6% (35,6%)

19,9% (20,2%)

43,5% (44,2%)

Consumer via workshops Other workshops

Q2 2014

(Q2 2013)

Customer group distribution

14

20

6

22

0

23

0

25

7

25

4

23

8

23

7

22

7

77

78

74

74

71

89

86

85

87

0

50

100

150

200

250

300

350

400

450

2008 2009 2010 2011 2012 2013 Q1 2014 Q2 2014

Mekonomen BilXtraMECA Own

Consolidation of the store

network

15

852

910

973

1033

1094

1097

1101

1102

199

296

363

420

426

378

389

390

219

225

243

248

246

546

570

590

601

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 Q1 2014 Q2 2014

Mekonomen Service Centre MekoPartner BilXtra Speedy MECA Car Service

Net 11 new workshops during

Q2

Quality assurance of the Group’s workshop chains has been performed during the year

16

0

1

2

3

4

5

6

Mekonomen Bilverkstad* Speedy**

Customer Rating

Maximum points

High confidence in Mekonomen

Service Centre and Speedy

* Customer research performed in cooperation with Netigate and in connection to customer visits to Mekonomen’s own workshops (2014)

** Average rating for Speedy on Reco.se (2014)

A similar reserach will be performed and presented to MECA, BilXtra and MekoPartner

17

- The customers’ overall assesment after visiting the workshop

ProMeister Academy will be launched in Sweden during Q1 2015. Mekonomen Group thus becomes the number 1 on education in the Nordic region

Start of courses in Sweden during autumn 2014

ProMeister Academy is already the leading training centre in Norway (1100 mechanics will be trained next year)

The success ProMeister

Academy – Soon in Sweden

18

Focus 2014

Organic growth

ProMeister

Continued development and quality

assurance of our workshops and workshop

concept

Increased cost efficiency

Turn around in Denmark

Reinforced purchasing power

19

Appendix

January - June

2014

21 augusti 2014

20

Earnings Trend

SUMMARY OF THE GROUP’S

EARNINGS TREND

SEK M Change % Change %

Revenue 1 534 1 591 -4 2 975 2 997 -1 5 842 5 863

Operating profit before amortisation and

impairment of intangible fixed

assets (EBITA) 184 195 -6 318 324 -2 619 626

EBIT 157 166 -5 260 268 -3 460 469

Profit after financial items 154 160 -4 253 247 2 435 429

Profit/loss after tax 110 120 -8 178 185 -4 308 315

Earnings per share, SEK 2,99 3,24 -8 4,82 5,01 -4 8,37 8,56

EBITA margin, % 12 12 11 11 11 11

EBIT margin, % 10 10 9 9 8 8

January - June

2014 2013 2014 2013

12 months Full-year

July-June 2013

April - June

21

Quarterly data

QUARTERLY DATA 2014

SEK M Q2 Q1 Full-year Q4 Q3 Q2 Q1 Full-year Q4 Q3 Q2 Q1

Total revenue 1 534 1 441 5 863 1 450 1 417 1 591 1 405 5 426 1 556 1 433 1 341 1 096

EBITA 184 133 626 124 178 195 129 602 152 176 155 119

EBIT 157 103 469 52 149 166 103 528 125 151 141 111

Net financial items -3 -4 -39 -2 -16 -5 -16 -54 -16 -24 -8 -4

Profit after financial items 154 99 429 49 133 160 87 474 109 127 132 106

Tax -44 -31 -114 -19 -34 -40 -22 -92 12 -36 -39 -29

Net profit for the period 110 68 315 31 99 120 65 382 121 91 93 77

EBITA margin, % 12 9 11 9 13 12 9 11 10 12 12 11

EBIT margin, % 10 7 8 4 10 10 7 10 8 11 11 10

Earnings per share, SEK 2,99 1,83 8,56 0,88 2,67 3,24 1,77 10,80 3,36 2,46 2,65 2,29

Shareholders’ equity per share, SEK 60,9 64,6 62,1 62,1 61,4 60,4 64,0 64,2 64,2 60,3 58,6 49,4

2013 2012

22

Cash flow

23

CONDENSED CONSOLIDATED

CASH-FLOW STATEMENT, SEK M

Cash flow from operating activities

before changes in working capital 126 190 228 247 506 525

Cash flow from changes in working capital 67 72 -106 29 -104 32

Cash flow from operating activities 192 262 122 276 402 557

Cash flow from investing activities -36 -24 -60 -36 -77 -54

Cash flow from financing activities -175 -274 -78 -314 -207 -442

CASH FLOW FOR THE PERIOD -19 -36 -16 -74 118 61

January - JuneApril - June

2014 2013

Full-year

July-June 20132014 2013

12 months

Income Statement

24

CONDENSED CONSOLIDATED INCOME

STATEMENT, SEK M

Net sales 1 499 1 564 2 906 2 939 5 707 5 740

Other operating revenue 35 28 70 58 135 123

Total revenue 1 534 1 591 2 975 2 997 5 842 5 863

Goods for resale -682 -736 -1 327 -1 369 -2 590 -2 632

Other external costs -300 -306 -597 -588 -1 196 -1 187

Personnel expenses -347 -334 -690 -675 -1 351 -1 336

Depreciation and impairment of tangible

fixed assets -21 -20 -43 -40 -85 -83

Amortisation and impairment of intangible

fixed assets -28 -29 -58 -56 -159 -157

EBIT 157 166 260 268 460 469

Interest income 1 2 2 4 7 9

Interest expenses -11 -14 -23 -27 -48 -52

Other financial items 8 6 13 2 15 4

PROFIT AFTER FINANCIAL ITEMS 154 160 253 247 435 429

Tax -44 -40 -75 -62 -127 -114

NET PROFIT FOR THE PERIOD 110 120 178 185 308 315

Net profit for the period attributable to:

Parent Company’s shareholders 107 115 173 180 300 307

Minority owners 3 5 5 5 8 8

NET PROFIT FOR THE PERIOD 110 120 178 185 308 315

Operating profit before amortisation and

impairment of intangible fixed assets (EBITA) 184 195 318 324 619 626

Earnings per share before and after

dilution, SEK 2.99 3.24 4.82 5.01 8.37 8.56

2013

Full-year

2014 2013 2014

January - JuneApril - June

2013

12 months

July-June

Balance Sheet

CONDENSED CONSOLIDATED BALANCE SHEET

SEK M

ASSETS

Intangible fixed assets 2 893 3 015 2 881

Tangible fixed assets 240 272 249

Financial fixed assets 72 83 75

Deferred tax assets 25 19 23

Goods for resale 1 241 1 119 1 213

Current receivables 838 870 724

Cash and cash equivalents 272 157 279

TOTAL ASSETS 5 580 5 535 5 444

SHAREHOLDERS’ EQUITY AND LIABILITIES

Shareholders’ equity 2 192 2 178 2 240

Long-term liabilities, interest-bearing 1 636 1 712 1 660

Deferred tax liabilities 201 226 211

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

Current liabilities, interest-bearing 496 351 276

Current liabilities, non-interest-bearing 1 055 1 065 1 056

TOTAL SHAREHOLDERS’ EQUITY AND LIABILITIES 5 580 5 535 5 444

2013

31 December

2014

30 June

2013

30 June

25

Largest owners as of 2014-06-30

Voting rights and

Share capitals, %

Ax:son Johnson Antonia company 26,5

Fraim-Påhlman Eva 5,6

Swedbank Robur Funds 3,7

Norges Bank Investment Management 3,5

Columbia Funds 3,2

Kempen & Co Funds 2,9

Fraim-Sefastsson Ing-Marie 2,8

SHB Funds (Finland) 2,7

Fourth Swedish National Pension Fund 2,1

SEB Funds 2,1

Others 45,0

Total 100,0

26