Ratos Ab Class A · OMXSTO:RATO_A

Ratos Ab Class A — Q1 2011 Earnings Presentation

10 slides from Ratos Ab Class A's earnings presentation, May 5, 2011

  1. Slide 1: CEO Arne Karlsson

    CEO Arne Karlsson Telephone conference 5 May 2011 1

  2. Slide 2: Q1 2011 – Tough start, better finish

    Q1 2011 – Tough start, better finish  Macro: MOBBM  Financing market: happy days are here again?  Transaction market: high pressure  Satisfactory development in holdings 2

  3. Slide 3: Macro

    Macro  MOBBM (Make Or Break Becomes Make)  Sub-par growth  Slowly rising interest rates  Kebnekaise  Real time monitoring!!!  So far still on mountain crest 3

  4. Slide 4: Financing market

    Financing market  Happy days are here again? - increasingly high leverage levels (offered) - “disappeared” phenomena return (covenant-lite, PIK) - more borrower friendly terms - high fees - now international phenomenon as well - not 2007 (yet…)!! 4

  5. Slide 5: High pressure in transaction market

    High pressure in transaction market  Previously supply side dominated  Now noticeably stronger demand side  Good exit conditions  Major spontaneous interest  Difficult balance act  Generally tougher acquisition competition  Not 2007 (yet…)!!  Possible to find unique situations 5

  6. Slide 6: Transactions

    Transactions  Acquisitions - Finnkino - MCC: Carrier (add-on) - Biolin Scientific - Stofa: Canal Digital Cable Denmark (add-on)  Exits - Camfil - Superfos  Refinancing - Arcus-Gruppen - Anticimex 6

  7. Slide 7: Satisfactory development in holdings (1)

    Satisfactory development in holdings (1) Earnings trend Q1, holdings (%) Total Ratos’s share Sales -2 -4 EBITA -16 -9 EBT -32 -16 7

  8. Slide 8: Satisfactory development in holdings (2)

    Satisfactory development in holdings (2)  Not over-interpret Q1 - smaller share of earnings - winter chaos - winter weakening - currency effect 8

  9. Slide 9: Satisfactory development in holdings (3)

    Satisfactory development in holdings (3)  Expected weak start to the year  January-February: profit but very weak development  March: noticeable improvement  Early indications Q2: continued upwards  Divided picture – no clear trend 9

  10. Slide 10: Good prospects 2011

    Good prospects 2011 Positive Stable Question mark Anticimex AH Industries GS-Hydro Arcus-Gruppen Jøtul Hafa Biolin Scientific MCC Bisnode Medisize Contex DIAB EuroMaint HL Display Inwido KVD Kvarndammen Lindab SB Seating Stofa 10

Ratos — Q1 2011 Earnings Presentation on 6ix