Interim Report – 3 months 1 April-30 June 2015

15.07.2015

B&B TOOLS
Interim report

Interim Report – 3 months 1 April-30 June 2015



  -- Revenue rose by 1 percent to MSEK 2,054 (2,031).
  -- Operating profit
rose by 23 percent to MSEK 129 (105) and
     the operating margin was 6.3 percent (5.2)
.
  -- Profit after net financial items
 rose by 35 percent to MSEK 124 (92).
  -- Profit after taxes
 rose by 36 percent to MSEK 94 (69).
  -- Earnings per share 
increased to SEK 3.35 (2.45).
  -- Cash flow from operating activities 
amounted to MSEK 164 (94) and
     cash flow per share for the most recent 12-month period was SEK 14.25
     (9.70).
  -- The return on equity
 for the most recent 12-month period was 14 percent (11).
  -- The equity/assets ratio
 at the end of the reporting period was 49 percent (45).



  -- After the end of the reporting period:
 Acquisition of electromechanical services company.
In early July 2015, the subsidiary Momentum Industrial signed an agreement
     to acquire all shares in Carl A Nilsson AB, a comprehensive
     electromechanical services company in southern Sweden, with annual revenue
     of approximately MSEK 20. Closing is scheduled for September 2015.
  -- 
  -- The 2015 Annual General Meeting will be held in Stockholm on 20 August
     2015.
The Board proposes a dividend of SEK 4.00 (3.50) per share.





PRESIDENT’S STATEMENT

The overall business situation was relatively stable during the first quarter
of the financial year, but the market fragmentation remains – whereby parts of
our operations are affected by more difficult market conditions. The
decentralised profit responsibility means, for example, that local measures are
introduced where necessary. 

Operating profit for the first quarter was impacted by non-recurring items in
both 2015 (MSEK +15) and 2014 (MSEK –6). We disposed of one property in Finland
and our last property in Sweden, for example. These disposals had a positive
impact of MSEK 25 on cash flow. Overall, we generated a strong cash flow during
the quarter. 

In early July (after the end of the reporting period), Momentum signed an
agreement to acquire Carl A Nilsson, a successful electromechanical services
company in southern Sweden. The company is well established in an attractive
market. This is our first corporate acquisition in a couple of years and we are
continuously evaluating acquisition opportunities in order to strengthen our
offering and profitability. 

Our priorities for the remainder of the financial year will be to improve P/WC
by focusing on volume, gross margins and inventories. We will therefore
continue to make customer proximity and sales a top priority, and during the
quarter, we both extended and signed new agreements with customers in all of
our main markets. 

Stockholm, July 2015



Ulf Lilius
President & CEO



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