Ratos Ab Class A · OMXSTO:RATO_A

Ratos Ab Class A — Q2 2010 Earnings Presentation

11 slides from Ratos Ab Class A's earnings presentation, Aug 20, 2010

  1. Slide 1: Listed Private Equity

    Listed Private Equity Arne Karlsson www.ratos.se Telephone conference 20 August 2010 1

  2. Slide 2: Q2 2010 – strong interim period

    Q2 2010 – strong interim period  Good G d development d l t iin hholdings ldi  Continued potential for improvement  Macro: (continued) ROLWB  High pressure on transaction markets  Acquisition of HL Display, RM Group and Stofa  Exit from Haglöfs 2

  3. Slide 3: Good development in holdings (1)

    Good development in holdings (1) Earnings trend H1, H1 holdings (%) Total Ratos’s share Sales -1 +2 EBITA +16 +23 EBT +49 +77 3

  4. Slide 4: Good development in holdings (2)

    Good development in holdings (2)  2009 results lt att reasonable bl level l l  Turnarounds and operational leverage  Far from high pressure  Continued potential for improvement 4

  5. Slide 5: Good development in holdings (3)

    Good development in holdings (3) Earnings trend Q2, Q2 holdings (%) Total Ratos’s share Sales +3 +5 EBITA +22 +31 EBT +42 +68 5

  6. Slide 6: Good development in holdings (4)

    Good development in holdings (4) Earnings trend H1, H1 holdings (%) (%), excl excl. EuroMaint and Superfos Total Ratos’s share Sales -4 -2 EBITA +35 +41 EBT +92 +128 6

  7. Slide 7: Good development in holdings (5)

    Good development in holdings (5) Sluggish Under way As planned Good development EuroMaint AH Industries Bisnode Arcus Jøtul Anticimex GS-Hydro Camfil HL Display Haglöfs Contex Lindab MCC DIAB Hafa Inwido Medisize SB Seating Superfos Other holdings 7

  8. Slide 8: Macro

    Macro  ROLWB ((Recession Over, Longg Wayy Back))  Main scenario stable  But there are (uncomfortably large) risks  Long term: still unmapped territory 8

  9. Slide 9: Transaction markets

    Transaction markets  High pressure!  Bigger deal flow than normal  Greatest-ever spontaneous p interest in Ratos’s holdings g ((?)) 9

  10. Slide 10: Acquisitions

    Acquisitions  HL Display - acquisition of Remius family’s shares - mandatory offer - over 90% – extended offer – mandatory redemption  RM Group G - add-on to AH Industries - creates niche giant - complementary synergies  Stofa - Danish triple-play operator - broader range of services and add-ons

  11. Slide 11: Exit

    Exit  Haglöfs H löf - exit gain SEK 765m - IRR 30% - buyer Asics, Asics based in Japan - faster international expansion 11

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