Ratos Ab Class A · OMXSTO:RATO_A

Ratos Ab Class A — Q3 2011 Earnings Presentation

15 slides from Ratos Ab Class A's earnings presentation, Nov 9, 2011

  1. Slide 1: CEO Arne Karlsson

    CEO Arne Karlsson Telephone conference 9 November 2011 1

  2. Slide 2: Q3 2011 – worse but better

    Q3 2011 – worse but better  Macro: MOBBM (revisit)  Holdings: like chewing gum but progress  Financing market: surprisingly stable  Transaction market: (quietly) alive 2

  3. Slide 3: Macro (1)

    Macro (1)  Business environment > own measures  MOB (Make Or Break)  Large number of issues to monitor - majority however limited risk  Focus on three high-risk areas - euro - American growth - commodity/energy prices  BM - Becomes Make 3

  4. Slide 4: Macro (2)

    Macro (2)  Kebnekaise - major risks! 4

  5. Slide 5: Kebnekaise

    Kebnekaise 5

  6. Slide 6: Macro (3)

    Macro (3)  Kebnekaise - major risks! - logical with volatile markets!  Major differences - geographies - sectors - niches 6

  7. Slide 7: Holdings: like chewing gum but progress

    Holdings: like chewing gum but progress  Sharp swings  Major differences between holdings  Significant action programmes  Positive development for half the holdings  Two problem holdings 7

  8. Slide 8: Development in holdings (1)

    Development in holdings (1) Earnings trend Q1-Q3, holdings (%) Total Ratos’s share Sales -1 -2 EBITA -18 -19 EBT -43 -45 8

  9. Slide 9: Development in holdings (2)

    Development in holdings (2) Earnings trend Q3, holdings (%) Total Ratos’s share Sales +1 0 EBITA -30 -33 EBT -63 -76 9

  10. Slide 10: Development in holdings (3)

    Development in holdings (3) Sales EBITA EBT Good development (10 companies) +0% +10% -19% Business cycle effect (7 companies) -1% -32% -49% Structural problems (2 companies) -16% -92% (neg) -1% -18% -43% 10

  11. Slide 11: Development in holdings (4)

    Development in holdings (4) Good development EBITA, Q1-Q3 Business cycle effect EBITA, Q1-Q3 Anticimex 6% AH Industries -72% Arcus-Gruppen -25% Biolin Scientific -46% Bisnode -9% GS-Hydro -67% Contex -21% Inwido -22% Euromaint - Jøtul -100% Finnkino -21% Lindab -13% HL Display 10% Mobile Climate Con

  12. Slide 12: Development in holdings (5)

    Development in holdings (5) EO items total 372 SEKm - under EBITA -96 - Arcus-Gruppen -24 252 - miscellaneous -57 Action programmes 195 SEKm Improvement effects 2012: SEK 253m 12

  13. Slide 13: (Good) prospects 2011

    (Good) prospects 2011 Positive Stable Negative Arcus-Gruppen Anticimex AH Industries Biolin Scientific Bisnode DIAB Euromaint Contex Jøtul Finnkino Inwido Hafa Bathroom Group GS-Hydro Lindab Mobile Climate Control HL Display KVD Kvarndammen SB Seating Stofa 9 (14) 5 (3) 5 (2) 13

  14. Slide 14: Financing market: surprisingly stable

    Financing market: surprisingly stable  Less turbulence for senior loans  Greater differences between cases, banks, borrowers  Stricter terms  Stable acquisition and refinancing opportunities  At times surprisingly good terms 14

  15. Slide 15: Transaction market: (quietly) alive

    Transaction market: (quietly) alive  Recovery in “public” (volatile) markets  Good own deal flow  300 100 200  Spontaneous interest continues to be shown in Ratos’s holdings 15

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