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2016-05-11

B&B TOOLS AB: Financial Report 2015/16 1 April 2015-31 March 2016

B&B TOOLS
Financial Statement Release

Financial Report 2015/16 1 April 2015-31 March 2016

Financial year 2015/16 (1 April 2015-31 March 2016)

-- Revenue amounted to MSEK 7,821 (7,903).
-- Operating profit
rose by 8 percent to MSEK 486 (450) and
the operating margin was 6.2 percent (5.7)
.
-- Profit after financial items
increased by 15 percent to MSEK 468 (408).
-- Net profit
rose by 18 percent to MSEK 362 (306).
-- Earnings per share
increased to SEK 12.90 (10.90).
-- Cash flow from operating activities
amounted to MSEK 493 (330), corresponding to
cash flow per share of SEK 17.55 (11.75).
-- The return on equity
for the year was 15 percent (14).
-- The equity/assets ratio
at year-end was 51 percent (45).
-- A dividend
of SEK 5.00 (4.00) per share is proposed.

Fourth quarter (1 January-31 March 2016)

-- Revenue amounted to MSEK 1,935 (1,994).
-- Operating profit
totalled MSEK 111 (111), corresponding to an
operating margin of 5.7 percent (5.6)
.
-- Net profit
rose by 16 percent to MSEK 87 (75).
-- Earnings per share
increased to SEK 3.10 (2.70).

New organisation and preparations for a potential split of the Group

-- The Board of Directors of B&B TOOLS decided today to assign Group
management the task of investigating the possibility of splitting the Group
into two separate listed companies in the future.
-- In light of this assignment, certain operational changes took place between
the Group’s two new operating segments as of 1 April 2016 in order to
increase competitiveness and streamline the operations.
-- The names of the new segments are resolved to Bergman & Beving and
Momentum Group.

PRESIDENT’S STATEMENT

As we summarise the 2015/16 financial year, we can look back at another year of
earnings improvements in the Group. It is particularly gratifying to highlight
TOOLS Sweden, which increased its profit by more than MSEK 30, as well as the
fact that Momentum and ESSVE reported operating margins of more than 10
percent. Our focus on profitability, measured as P/WC*, contributed to a strong
cash flow for the year. Despite a turbulent operating environment with currency
fluctuations and a weak economic climate, particularly in Norway (which
accounts for 30 percent of our revenue), our operating margin increased to 6.2
percent. While this is the Group’s highest margin since 2007/08, we are
naturally not satisfied with this result and aim to do even better in the
future. We have good potential to continue improving our profitability.

As part of the Group’s focus on its future development, the Board of Directors
has today also assigned the Group management the task of investigating the
possibility of splitting the Group into two separate listed companies in the
future. The starting point of this work is the two new operating segments
introduced in the Group on 1 April. The purpose of the split is to increase the
Group’s earnings growth through a clearer focus on development of leading
brands and attractive market channels in profitable niches. The names of the
two new segments – Bergman & Beving and Momentum Group – reflect the
Board’s ambitions for our future development.

As I have discussed in earlier reports, we have radically improved our basic
prerequisites for growth and development in recent years. With our strong
balance sheet and low debt, I also believe we have the right conditions for
attractive corporate acquisitions. The review of the Group’s future structure
will further strengthen these conditions and could create new business
opportunities.

In conclusion, I would like to take this opportunity to extend my sincere
thanks to all of our dedicated employees for your many outstanding efforts
during the year. I would also like to thank our customers and business partners
for continuing to believe in us. I look forward to an exciting new financial
year in 2016/17.

Stockholm, May 2016

Ulf Lilius
President & CEO

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