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B&B TOOLS AB: Interim Report – 6 months 1 April-30 September 2016

Half Year financial report

Interim Report – 6 months 1 April-30 September 2016

Second quarter (1 July-30 September 2016)

-- Revenue rose by 2 percent to MSEK 1,879 (1,839).
-- Operating profit
amounted to MSEK 131 (131), corresponding to an
operating margin of 7.0 percent (7.1)
-- Profit after financial items
totalled MSEK 126 (126).
-- Net profit
amounted to MSEK 96 (96).
-- Earnings per share
totalled SEK 3.40 (3.40).
-- Cash flow from operating activities
amounted to MSEK 79 (57) and
cash flow per share for the most recent 12-month period totalled SEK 17.70
-- The return on equity for the most recent 12-month period was 14 percent
-- The equity/assets ratio at the end of the period was 51 percent (49).
-- The operational net loan liability declined to MSEK 183 (451).
-- Acquisition of a successful sales company in the UK and Ireland
in order to strengthen the position of the Group’s premium brands. Closing
took place in early October 2016.

Reporting period – 6 months (1 April-30 September 2016)

-- Revenue rose by 3 percent to MSEK 4,014 (3,893).
-- Operating profit
increased by 2 percent to MSEK 264 (260) and the operating margin was 6.6
percent (6.7)
. Operating profit for the first quarter of the preceding year was impacted
by non-recurring items totalling MSEK +15 and the underlying earnings
growth for the reporting period thus amounted to 8 percent.
-- Profit after financial items
rose by 2 percent to MSEK 255 (250).
-- Net profit
increased by 3 percent to MSEK 195 (190).

Events after the end of the reporting period·

-- Acquisition of one of Norway’s leading industrial resellers
with approximately MNOK 240 in revenue strengthened the Group’s position as
a supplier to Nordic industry. Closing is scheduled to take place in
November 2016.


The Group’s revenue, measured in local currency, rose by 2 percent during the
first six months of the 2016/17 financial year. Operating profit increased by 8
percent during the period (adjusted for non-recurring items totalling MSEK +15,
which impacted operating profit for the first quarter of the preceding year).
The construction and civil engineering sector continues to grow, while demand
from the industry remains relatively weak. The earnings trend for TOOLS Sweden
has been negative during the last quarter and we are now implementing measures
to improve the future profitability.

A certain portion of our growth will come from acquisitions and we have
completed two strategic acquisitions in recent months. Within Bergman & Beving,
we acquired IQ Supplies – a successful sales company for our subsidiary Teng
Tools, with sales in the UK and Ireland. This acquisition was fully in line
with Bergman & Beving’s strategy to strengthen the position of our premium
brands. Within Momentum Group, we acquired Astrup Industrivarer – one of
Norway’s largest industrial resellers, with five branches in western Norway.
This acquisition reaffirms Momentum Group’s goal of being the best choice for
customers when it comes to consumables and components for professional end

With a healthy cash flow and strong balance sheet, we are creating the right
conditions for the long-term profitable growth of Bergman & Beving and Momentum
Group – both through organic growth and with attractive new acquisition

Stockholm, October 2016

Ulf Lilius
President & CEO

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