Ratos Ab Class A · OMXSTO:RATO_A

Ratos Ab Class A — Q3 2010 Earnings Presentation

11 slides from Ratos Ab Class A's earnings presentation, Nov 4, 2010

  1. Slide 1: Listed Private Equity

    Listed Private Equity Arne Karlsson Telephone conference 4 November 2010 1

  2. Slide 2: Q3 2010 – reflects business environment

    Q3 2010 – reflects business environment  Macro: (continued) ROLWB  Good G d development d l in holdings h ld  Holdings Holdings’ development reflects business environment  Continued (major) potential for improvement  Marked decline in ppublic transaction activityy  High transaction activity wi

  3. Slide 3: Macro

    Macro  ROLWB ((Recession Over, Longg Wayy Back))  Main scenario stable  No (structural) inflation threat  Interest rates still low  But there are (uncomfortably large) risks  Long term: still uncharted terrain 3

  4. Slide 4: Good development in holdings (1)

    Good development in holdings (1) Earnings trend Q1-Q3, Q1 Q3 holdings (%) Total Ratos’s share Sales 0 +2 EBITA +14 +15 EBT +30 +38 4

  5. Slide 5: Good development in holdings (2)

    Good development in holdings (2) Earnings trend Q3, Q3 holdings (%) Total Ratos’s share Sales +2 +3 EBITA +9 +2 EBT +10 +3 5

  6. Slide 6: Good development in holdings (3)

    Good development in holdings (3)  2009 results at satisfactory level  Turnarounds T d and d operational i l lleverage  Holdings Holdings’ development reflects business environment  Far from high pressure  Continued ((major) j ) ppotential for improvement p 6

  7. Slide 7: Holdings' development reflects business environment (1)

    Holdings’ development reflects business environment (1) Early Birds (EB) Runner Ups (RU) Laggards (L) Arcus Anticimex AH Industries Camfil Bisnode EuroMaint Contex DIAB GS-Hydro Inwido Hafa Medisize HL Display SB Seating Jøtul Lindab MCC Stofa Superfos g Other holdings 7

  8. Slide 8: Holdings' development reflects business environment (2)

    Holdings’ development reflects business environment (2) EB RU L Q1-Q3, % Sales +3 -4 +12 EBITA +74 0 -56 EBT +137 +5 -95 Q3, % Sales -22 +2 +15 EBITA +28 +7 -63 EBT +35 +7 -127 8

  9. Slide 9: Marked decline in public transaction activity

    Marked decline in public transaction activity  Clear slow-down in activity after the summer  Applies A li to both b h IPOs IPO and d auction i processes  Reason: value discussions (?)  Exit needs remain  Bottleneck duringg 2011? 9

  10. Slide 10: High transaction activity within Ratos (1)

    High transaction activity within Ratos (1)  Large deal flow - 2007 2007: 200 250 200-250 - 2008 09: 2008-09: 150 200 150-200 - 2010/H1: 280 - 2010/H2p: p 200-250  Continued major interest in Ratos’s holdings 10

  11. Slide 11: High transaction activity within Ratos (2)

    High transaction activity within Ratos (2)  Acquisitions - HL Display p y - Medisize - RM Group (AHI) - RSM Group (EuroMaint) - Stofa - add-ons  Exits - Haglöfs - partial exits 11

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