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2016-10-26

Addnode Group: Interim Report: 1 January - 30 September 2016

STOCKHOLM, 26 OCTOBER 2016 - CEO succession from AGM 2017. Staffan
Hanstorp proposed as new Chairman of the Board.

Third quarter summary, July - September 2016

· Net sales amounted to SEK 467.1 m (467.3)
· EBITA was SEK 39.6 m (42.2), corresponding to an EBITA margin of
8.5 per cent (9.0)

· Operating profit was SEK 24.6 m (30.8), corresponding to an
operating margin of 5.3 per cent (6.6)

· Profit after tax was SEK 17.2 m (21.7)
· Earnings per share after dilution were SEK 0.57 (0.71)
· Cash flow from operating activities was SEK -37.2 m (-18.0)
Nine-month summary, January - September 2016

· Net sales amounted to SEK 1,536.3 m (1,286.4), up 19%
· EBITA increased to SEK 107.2 m (98.5), corresponding to an EBITA
margin of 7.0 per cent (7.7)

· Operating profit was SEK 66.1 m (68.0), corresponding to an
operating margin of 4.3 per cent (5.3)

· Profit after tax was SEK 45.5 m (50.0)
· Earnings per share after dilution were SEK 1.50 (1.67)
· Cash flow from operating activities was SEK 84.8 m (45.8)
Significant events during the third quarter, July - September 2016

· Acquisition of software companies EssVision and Stamford
· Establishment of new software company specialising in e-health and
pharmacy solutions

· Clearance obtained to sign agreement with the City of Gothenburg
after appeal for review was denied, order

· value of approximately SEK 35 m
· Agreement signed with a major government agency in the area of
defence and security, order value of approximately SEK 5 m

Significant events after the end of the reporting period

· Agreement with world-leading train manufacturer
· Additional acquisition credit facility of SEK 200 m secured
· Johan Andersson appointed new President and CEO from AGM 2017 and
Staffan Hanstorp proposed as new Chairman of the Board

CEO comment's

New CEO and I am proposed as Chairman of the Board

Size and offering leading to new business

Through our expansion in recent years we have attained a strong
position in the Nordic countries as well as internationally. The
acquisition of the British company Symetri in 2014 and the German
company Transcat PLM in 2015 have given us a solid European base for
our continued growth in industrial IT. This broader geographical
spread is unleashing new potential for business' and collaborations
with major international customers. A prime example is the contract
we signed after the end of the quarter with Stadler, the Swiss train
manufacturer. In the public sector, too, we are winning new deals
that are a testimony to both our quality and prestige. During the
quarter we obtained clearance following an appeal process to sign an
agreement with the City of Gothenburg for a new planning system for
the city's home care operations. We also secured a deal with a major
government agency in the defense and security sector, where we will
implement our case management software.

Change in design management business model taking hold

We achieved growth of 19 per cent for the nine-month period, driven by
organic growth as well as acquisitions. Both net sales and EBITA for
the third quarter were level with the corresponding period a year
ago. As previously communicated, we have shifted to a new business
model in our subsidiary Symetri from a licence-based sales model to
one that is now entirely subscription-based. In the near term this
transition is affecting both sales and earnings, however, over time
the change will provide us with a higher share of recurring revenue
and greater stability in our business. Taking these factors into
account we had a good quarter.

Acquisition of two software companies

We are seeing steady growth in revenue from our proprietary products,
and during the third quarter we acquired another two software
companies that strengthen us in the area of case management. Every
day we evaluate acquisition candidates, and to ensure that we can
take advantage of every opportunity, we have secured an additional
acquisition credit facility worth SEK 200 m. By successively
evaluating, acquiring and developing companies in our two core
businesses, we are moving forward at a steady pace.

Change of leadership by AGM 2017

For 23 years I have been active within the company. In 1994 I paved
the ground to Addnode Group's largest business of today and the last
ten years I have been the President and CEO for a Nasdaq listed
company. We have built a solid and profitable Group with a turnover
of more than two billion SEK. Timing and place feels right to change
leadership and for me to step into a new position. Current CFO in the
Group, Johan Andersson, will overtake my responsibilities as
President and CEO from AGM 2017 and I am proposed to the position as
Chairman of the Board of Directors. I will continue to be a driving
force in overall strategic questions and remain an active part in
acquisition processes - becauase we are far from finished building
the Group.

Staffan Hanstorp, President and CEO

The information in this press release is such that Addnode Group AB
(publ) must disclose in accordance with the Swedish Securities Market
Act. The information was released on 26 October 2016, at 08:30 AM
CET.

For more information, please contact:
Staffan Hanstorp, President and CEO Addnode Group AB
Tel: +46 (0) 73 377 24 30, e-mail: staffan.hanstorp@addnodegroup.com
Johan Andersson, CFO Addnode Group AB
Tel: +46 (0) 704 205 831, e-mail: johan.andersson@addnodegroup.com

About Addnode Group
Addnode Group acquires, operates and develops entrepreneur-driven
companies that supply software and services to markets in which we
have or can achieve a leading position. We are one of Europe's
leading suppliers of software and services for design, construction
and product data information, and a leading supplier of document and
case management systems to public sector clients in Sweden and
Norway. More than 600,000 engineers and officials use our system
solutions on a daily basis.

We are 1,200 employees in Sweden, Austria, Denmark, Finland, Germany,
India, Norway, Slovakia, UK, US and Serbia. Net sales in 2015
amounted to SEK 1,900 M. Addnode Group's Series B share is listed on
Nasdaq Stockholm. For more information, please visit
www.addnodegroup.com

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http://news.cision.com/addnode-group/r/interim-report--1-january---30-se...
http://mb.cision.com/Main/474/2108539/579972.pdf

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