Beijer Alma

Earnings Release • Oct 27, 2022

• Net revenue increased to MSEK 1,483 (1,133)
• Operating profit before items affecting comparability increased to MSEK 200 (197), corresponding to an operating margin of 13.5 percent (17.4)
• Profit after net financial items increased to MSEK 187 (144)
• Earnings per share including discontinued operations increased to SEK 2.71 (2.14)
• Order bookings increased to MSEK 1,377 (1,132)
• Cash flow from operating activities including Discontinued operations amounted to MSEK 150 (271)
• Net debt totaled MSEK 2,420
• Spring manufacturer John Evans' Sons was acquired on July 8
• Habia Cable was divested on 14 October

Discontinued operations

MSEK 187 (144)
 Earnings per share including discontinued operations increased to SEK 2.71 (2.14)
 Order bookings increased to MSEK 1,377 (1,132)
 Cash flow from operating activities including Discontinued operations amounted to MSEK 150 (271)
			Discontinued operations
 Net debt totaled MSEK 2,420				In this report, Habia Cable is recognized as a discontinued
 was acquired on July 8	Spring manufacturer John Evans' Sons Habia Cable was divested on 14 October		operation in accordance with IFRS 5. Other operations constitute "continuing operations". Comments and figures pertain to continuing operations, unless otherwise stated.
				have been restated. For more information, refer to		Comparative figures in the consolidated income statement
						"Discontinued operations" on page 17 and "Accounting
Summary of earnings			policies" on page 19.
MSEK	2022	2021	Change	2022	2021	Rolling	2021
Continuing operations	Q3	Q3	%	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	1,482.6	1,132.8	30.9	4,403.5	3,347.1	5,652.7	4,596.3
Operating profit	200.2	151.8	31.9	602.9	537.4	777.2	711.7
Operating margin, %	13.5	13.4		13.7	16.1	13.7	15.5
Op. profit before items affecting comparability	200.2	197.1	1.6	627.9	582.7	802.2	757.0
Op. profit before items affecting comp, %	13.5	17.4		14.3	17.4	14.2	16.5
Profit after net financial items	186.5	143.8	29.7	581.5	516.0	752.0	686.5
Earnings per share** SEK	2.71	2.14	26.6	8.63	7.32	10.83	9.43
Order bookings	1,377	1,132	21.6	4,254	3,438	5,566	4,750
Net debt*, MSEK	2,420.0	1,285.3	88.3	2,420.0	1,285.3	-	1,323.7
Net debt/equity ratio, % Cash flow after capital expenditures, before Corporate. acquisitions*	74.3 93.1	48.0 219.0	-57.5	74.3 164.0	48.0 413.9	- -	46.0 560.0

Summary of earnings

CEO's comments

Continued growth despite varying demand in an uncertain economic climate

Group

Demand in the quarter remained generally favorable, although with variations between geographic regions and customer segments. In relative terms, operations in the Nordic region were stronger and contributed organic growth, while demand in the rest of Europe and Asia was impacted to a greater degree by a weaker economic climate and specific external factors, such as the war in Ukraine. Inflation continued to fuel cost increases, which were offset with equivalent price increases, while supply chains increasingly stabilized.

Subsidiaries

Lesjöfors noted mixed demand, although with major variations between geographic regions and customer segments. Volumes in the Chassis Springs business area were significantly lower, partly due to the discontinuation of sales to Russia, but were also lower in the rest of Europe. Within Industrial Springs, the Nordics were the strongest region. Demand was also favorable in the North American market, which has become increasingly important for Lesjöfors. Both Asia and Central Europe are facing a more uncertain economic situation and weaker demand in general, but most notably greater volatility between customer segments and countries. The acquired companies Alcomex, Plymouth Spring and John Evans' Sons all contributed profitable growth.

For Beijer Tech, which operates in the Nordic market, demand was stable and particularly strong in Norway. This contributed to favorable organic growth and a continued positive margin development. Acquisitions also contributed further profitable growth.

Habia Cable, which was divested in October, had a good final quarter in the Group, with favorable order bookings, revenue and profitability.

Strategy and acquisitions

The acquisition of the US company John Evans' Sons, which holds a strong position in springs for the medical device industry, was completed at the beginning of the quarter. The focus has initially been on business development and integrating the company into the Group. Further opportunities for growth and synergies will be created within the Lesjöfors Group.

In October, Lesjöfors also acquired the Turkish company Telform, a successful manufacturer of industrial springs for a diversified customer base in the domestic and European markets. Through this acquisition, Lesjöfors is expanding its production footprint and low-cost manufacturing capabilities.

The divestment of Habia Cable to HEW-Kabel was completed in October. As a result, we have ensured continued scope for creating value through investments and acquisitions in Lesjöfors and Beijer Tech. This will strengthen our strategic focus in a more uncertain world, where we need to be agile and able to accelerate and brake at the same time as needs and opportunities arise.

Henrik Perbeck President and CEO

Group

Group
Beijer Alma is an international, listed industrial group. Its business concept is to acquire, own and develop companies with strong growth potential. The companies in the Group specialize in component manufacturing and industrial trading. The Group has approximately 3,300 employees and a presence in 60 markets. Its customers include companies in such sectors as automotive, engineering, infrastructure, telecom, energy and defense.
In this report, Habia Cable is recognized as a discontinued operation and is therefore not included in continuing operations. Balance sheet items in the comparative periods have not been restated for discontinued operations.
Performance measures for the Group MSEK	2022	2021	Change	2022	2021	Rolling	2021
Continuing operations	Q3	Q3	%	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	1,482.6	1,132.8	30.9	4,403.5	3,347.1	5,652.7	4,596.3
Operating profit	200.2	151.8	31.9	602.9	537.4	777.2	711.7
Operating margin, %	13.5	13.4		13.7	16.1	13.7	15.5
Op. profit before items affecting comparability	200.2	197.1	1.6	627.9	582.7	802.2	757.0
Op. profit before items affecting comp., %	13.5	17.4		14.3	17.4	13.3	16.5
Profit after net financial items	186.5	143.8	29.7	581.5	516.0	752.0	686.5

Third quarter

Order bookings in the quarter rose 22 percent year-on-year to MSEK 1,377 (1,132). Excluding acquisitions and fluctuations in exchange rates, order bookings declined 3 percent. Net revenue rose 31 percent to MSEK 1,483 (1,133). Excluding acquisitions and fluctuations in exchange rates, the increase in revenue was 3 percent. Price increases to compensate for higher costs and raw material prices contributed to the increase in revenue.

The Group delivered a positive sales trend, with revenue growth noted in both Beijer Tech and Lesjöfors, although Lesjöfors's discontinued sales to Russia continued to have a negative impact on the company's revenue, earnings and margin. Sales to Ukraine were at a similar level as before the war started.

Operating profit before items affecting comparability totaled MSEK 200 (197), corresponding to a margin of 14 percent (17). The lower margin was mainly attributable to reduced sales in Lesjöfors's Chassis Springs business area, both to the Russian market as well as to the rest of Europe.

Earnings per share including discontinued operations increased to SEK 2.71 (2.14), the return on shareholders' equity for the third quarter was 19.3 percent (22.4), and the return on capital employed was 14.9 percent (19.7).

Cash flow from operating activities including Discontinued operations totaled MSEK 150 (271). The inventory has increased some, but accounts recievable adjusted for acqusitions have decreased in the period. Cash flow from investing activities amounted to MSEK -57 (-52), while cash flow from financing activities totaled MSEK 938 (621), which includes Lesjöfors´ acquisition of John Evans´ Sons. At the end of the third quarter, the equity ratio was 38 percent (44) and the net debt/equity ratio was 74 percent (48).

January to September

Order bookings during the first three quarters of the year increased to MSEK 4,254 (3,438), an increase of 24 percent. Adjusted for acquisitions and fluctuations in exchange rates, order bookings were unchanged year-onyear. Net revenue rose 32 percent to MSEK 4,404 (3,347). Excluding acquisitions and fluctuations in exchange rates, the increase was 6 percent.

Adjusted for items affecting comparability, operating profit totaled MSEK 628 (583) and profit after net financial items amounted to MSEK 582 (516). Earnings per share including discontinued operations increased year-on-year and amounted to SEK 8.63 (7.32). During the first quarter, the company's assets in Russia were impaired by MSEK 25, which was recognized as an item affecting comparability. No further provisions have been made for Beijer Alma's Russian operations.

Cash flow from operating activities amounted to MSEK 313 (527), cash flow from investing activities to MSEK -149 (-113) and cash flow from financing activities to MSEK 964 (355).

Number of employees

The number of employees during the period increased to 3,347 (3,158), of which Habia Cable accounted for 546.

Divestment of Habia Cable

On October 14, Beijer Alma completed the divestment of Habia Cable to HEW-KABEL Holding GmbH, an international manufacturer of custom-designed cables headquartered in Germany. The transaction was paid in cash and valued Habia Cable at approximately MSEK 910 on a cash and debt-free basis. The divestment ensures Beijer Alma's long-term ability to create value for its shareholders through a strengthened strategic focus while also providing Habia Cable with the right conditions for growth.

Through the capital gain from the divestment, amounting to approximately MSEK 340, Beijer Alma will lower its net debt and strengthen its financial profile to ensure continued scope for value creation through investments and acquisitions in both Lesjöfors and Beijer Tech. The final capital gain will be adjusted depending on exchange-rate effects, among other factors.

Subsidiaries

Lesjöfors

Subsidiaries
Lesjöfors
components. The company is a leading player in the Nordic region and one of the largest companies in its industry in Europe. Lesjöfors has manufacturing operations in Sweden, Denmark, Finland, Germany, Latvia, the UK, Poland, Slovakia, the Czech Republic, the Netherlands, the US, Mexico, India, Singapore, Thailand and China. Its operations are conducted in two business areas: Industry and Chassis Springs.
Performance measures for Lesjöfors
MSEK	2022	2021	Change	2022	2021	Rolling	2021
	Q3	Q3	%	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	1,045.2	805.3	29.8	3,076.1	2,375.2	3,898.7	3,197.8
– Industry	869.1	573.9	51.4	2,418.7	1,669.8	3,054.2	2,305.3
– Chassis Springs	176.1	231.4	-23.9	657.4	705.4	844.7	892.7
Operating profit	154.4	121.8	26.8	476.4	472.1	611.5	607.2
Operating margin, %	14.8	15.1		15.5	19.9	15.7	19.0
Order bookings	1,020	804	26.8	3,003	2,437	3,883	3,317
Lesjöfors totalt		Industry				Chassis Springs
	4 000 3 600 800		3,200 2,800	350			1,600 1,400

Third quarter

Lesjöfors conducts its operations in two business areas: Industry and Chassis Springs. Order bookings rose to MSEK 1,020 (804) during the quarter, up 27 percent year-on-year. Net revenue amounted to MSEK 1,045 (805), corresponding to an increase of 30 percent. This increase was mainly attributable to acquired operations, which contributed 25 percent, and currency effects of 9 percent, while organic growth accounted for -4 percent.

Lesjöfors has discontinued its exports of chassis springs to the Russian market, which is the main reason that the business area's net revenue declined 24 percent to MSEK 176 (231) in the third quarter compared with the yearearlier period. Sales in key markets such as the UK and Germany also declined year-on-year, driven by lower demand from end customers and subsequent inventory reductions by wholesale customers.

Operating profit before items affecting comperability, was impacted by discontinued sales to Russia during the period, amounted to MSEK 154 (167). Operating profit in the year-earlier period was affected by an item affecting comparability of MSEK -45 attributable to the divestment of S&P Federnwerk GmbH in Germany.

Operating profit for the quarter includes costs for inventories measured at fair value and acquisition costs of MSEK 10 and MSEK 7 related to the acquisition of John Evans' Sons, which are non-recurring effects. Adjusted for these non-recurring effects, the operating margin was 16.4%.

Industry experienced stable demand in most markets, not least the US. Central Europe continued to be impacted by strained supply chains, and demand in China was weak. The acquired companies Alcomex, Plymouth and John Evans' Sons delivered strong performances. Net revenue for Industry amounted to MSEK 869 (574) during the quarter, up 51 percent compared to last year.

January to September period

Order bookings for the January to September period amounted to MSEK 3,003 (2,437), up 23 percent. Net revenue amounted to MSEK 3,076 (2,375), corresponding to an increase of 30 percent. Organic growth amounted to 1 percent, with growth from acquisitions accounting for 22 percent and currency effects for 7 percent. Net revenue increased MSEK 749 to MSEK 2,419 (1,670) in Industry and declined to MSEK 657 (705) in Chassis Springs. The largest change compared with the year-earlier period was attributable to Chassis Springs' discontinued sales to Russia. Operating profit increased to MSEK 476 (472) during the period, also primarily impacted by the company's discontinued sales to Russia.

Subsidiaries

Habia Cable

Subsidiaries
Habia Cable
Habia Cable is one of Europe's largest manufacturers of custom-designed cables for customers in the telecom, nuclear power, defense, offshore and other industries. The sales to nuclear power, defense and offshore are usually strongly project-related. The company has manufacturing operations in Sweden, Germany, China as well as Poland, and conducts sales worldwide.
On July 5, Beijer Alma entered into an agreement to divest Habia Cable, as described on page 4. The divestment was completed on October 14. Habia Cable is presented below as in previous periods, but is recognized as a discontinued operation in the rest of the report. Performance measures for Habia Cable
MSEK	2022	2021	Change	2022	2021	Rolling	2021
	Q3	Q3	%	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	242.9	198.5	22.4	776.6	594.7	990.5	808.6
Operating profit	28.6	22.8	-	106.1	48.1	121.1	63.1
Operating margin, %	11.8	11.5		13.7	8.1	12.2	7.8
Order bookings	261	229	14.3	833	669	1,084	920
Habia Cable total		Defence, Nuclear power and Offshore				Telecom and Other industry
350 1,200 300 1,000	100		600	250			1,000
250 800	90 80		500	200			800
200 600 150	70 60 50		400 300	150			600
400 100	40 30		200	100			400
200 50 0 0 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 2020 2021 2022	20 10 0 Q3 Q4 Q1 2020	Q2 Q3 Q4 2021	100 0 Q1 Q2 Q3 2022	50 0 Q3	Q4 Q1 Q2 2020	Q3 Q4 Q1 Q2 2021 2022	200 0 Q3
Net revenue, MSEK Quarter	Rolling 12 months
Third quarter
Habia Cable's order bookings rose to MSEK 261 (229) during the quarter, up 14 percent. Net revenue increased to
MSEK 243 (199), corresponding to an increase of 22 percent. The increase comprised 17 percent organic growth

Third quarter

Habia Cable's order bookings rose to MSEK 261 (229) during the quarter, up 14 percent. Net revenue increased to MSEK 243 (199), corresponding to an increase of 22 percent. The increase comprised 17 percent organic growth and 6 percent currency effects.

Habia Cable's operating profit increased to MSEK 29 (23) during the quarter.

January to September period

During the January to September period, order bookings rose to MSEK 833 (669), up 25 percent. Net revenue amounted to MSEK 777 (595) and operating profit to MSEK 106 (48). Organic growth accounted for 26 percent of the increase in revenue and currency effects for 5 percent.

Subsidiaries

Beijer Tech

Beijer Tech specializes in industrial trading and manufacturing. The company sells consumables, components and machinery to Nordic industrial companies, and represents several of the world's leading brands. The company's operations are conducted in two business areas: Industrial Products and Fluid Technology. MSEK 2022 2021 Change 2022 2021 Rolling 2021 Q3 Q3 % Jan-Sep Jan-Sep 12 months Full-year Net revenue 435.8 330.7 31.8 1325.8 983.5 1,724.5 1,382.2 – Industrial Products 278.8 203.7 36.9 833.9 594.4 1,066.7 827.2 – Fluid Technology 157.0 127.0 23.6 491.9 389.1 657.8 555.0 Operating profit 51.9 34.4 50.9 147.2 81.1 195.5 129.4 Operating margin, % 11.9 10.4 11.1 8.2 11.3 9.4 Order bookings 357 328 8.9 1251 1001 1,683 1,433
	Subsidiaries
	Beijer Tech
	Performance measures for Beijer Tech
Beijer Tech total Industrial Products Fluid Technology

Third quarter

Sales volumes increased during the quarter compared to last year, with a positive trend noted in both Industrial Products and Fluid Technology. This growth was far-reaching and included most customer groups. Order bookings rose to MSEK 357 (327) compared to last year. Net revenue amounted to MSEK 436 (331) for the third quarter, up 32 percent. Excluding acquisitions and currency effects, the increase was 19 percent. The recently acquired Swedish Microwave and Mountpac continued to perform well and made a positive contribution. Together with other acquisitions, they accounted for 10 percent of the year-on-year increase in revenue.

Net revenue increased to MSEK 279 (204) for Industrial Products and to MSEK 157 (127) for Fluid Technology. Operating profit increased to MSEK 52 (34) during the third quarter. The company's higher margin and acquisitions both contributed to increased profitability.

January to September period

During the January to September period, order bookings rose to MSEK 1,251 (1,001), while net revenue amounted to MSEK 1,326 (984). Net revenue increased to MSEK 834 (594) for Industrial Products and to MSEK 492 (389) for Fluid Technology. Operating profit for the period rose to MSEK 147 (81). Organic growth amounted to 20 percent, with revenue growth from acquisitions accounting for 14 percent and currency effects for 2 percent.

Parent Company

The Parent Company, Beijer Alma AB, a holding company that does not generate its own external net revenue, reported an operating loss of MSEK -8 (-5) during the quarter.

Acquisitions

Swedish Microwave

On January 14, Beijer Tech acquired 80 percent of the shares in Swedish Microwave AB ("SMW"). The company's products are used in various sectors, including the maritime industry, for earth observation and among satellite and teleport operators. SMW has 24 employees in Motala, Sweden, and sales of about MSEK 50 with high profitability.

Mountpac

On February 3, Beijer Tech acquired 85 percent of the shares in Mountpac AB and 100 percent of the shares in Mountpac Fastighets AB. Mountpac assists its customers with everything from individual customized stamping parts to complex products, often with full responsibility from construction to packing and distribution. The company has 16 employees in Hillerstorp, Sweden, and sales of about MSEK 50 with favorable profitability.

Norserv

On June 1, Beijer Tech carried out a minor Norwegian acquisition, Norserv AS, for a purchase consideration of MSEK 6. Beijer Alma acquired all shares in the company.

John Evans' Sons

On July 8, Beijer Alma's subsidiary Lesjöfors acquired the assets and operations of John Evans' Sons Inc., a US spring manufacturer, for a purchase consideration of approximately MUSD 90 on a cash and debt-free basis. Lesjöfors acquired 100 percent of the company, and the current owners will remain in their operative roles. In addition to the initial purchase consideration, there is also a contingent consideration of up to MUSD 61.5.

The acquired assets are expected to generate annual revenue of approximately MUSD 37, with EBITA of MUSD 10 for 2022.

Preliminary acquisition calculations

The calculations of intangible assets and goodwill in the following acquisition analyses are preliminary. The acquisition analyses will be finalized no later than one year after the acquisitions were completed. The effect of the acquisitions made in 2022 on Beijer Alma's balance sheet is presented in the table below.

During the third quarter the only acquisition was John Evans´Sons which contributed MSEK 137 in net revenue and MSEK 55 in operating profit. During the first three quarters of the year, the acquisitions contributed MSEK 205 in net revenue and MSEK 56 in operating profit. If all acquisitions had been carried out on January 1, 2022, they would have had an impact of MSEK 405 on net revenue and MSEK 112 on operating profit.

Expensed transaction costs during the first three quarters amounted to MSEK 8.

Preliminary acquisition analysis	Q3	Jan-Sep
MSEK
Purchase considerations to be paid within one-five years	1,319.9	1,536.6
Net assets measured at fair value	647.5	727.9
Non controlling interests	0.0	12.6
Goodwill	672.3	821.3
Cash portion of purchase consideration	996.0	1,196.4
Conditional purchase consideration to be paid within 5 years	323.8	340.1
Purchase price to be paid within five years at the maximum outcome of conditional purchase prices would amount to MSEK 700,
whereof John Evans' Sons is included with MSEK 684.
Net assets measured at fair value comprise
MSEK
Buildings and land	25.1	37.6
Machinery and equipment	26.5	37.9
Other intangible assets Inventories	580.8 77.1	621.9 96.7
Receivables	52.6	70.2

MSEK
Purchase price to be paid within five years at the maximum outcome of conditional purchase prices would amount to MSEK 700, whereof John Evans' Sons is included with MSEK 684. Net assets measured at fair value comprise
MSEK
Buildings and land	25.1	37.6
Machinery and equipment	26.5	37.9
Other intangible assets	580.8	621.9
Inventories	77.1	96.7
Receivables	52.6	70.2
Cash and cash equivalents	0.0	10.3
Deferred tax	-106.3	-119.6
Interest-bearing liabilities	0.0	-4.3
Non-interest-bearing liabilities	-8.2	-22.8

Telform

On October 6, Beijer Alma's subsidiary Lesjöfors acquired 100 percent of the shares in the Turkish spring manufacturer Telform Clamp and Spring Co. Telform conducts sales to more than 30 countries and multiple industries such as white goods, construction, automotive, electronics and others. The company has approximately 140 employees and generates annual revenue of about MEUR 11.

The transaction is expected to have a marginal positive impact on Beijer Alma's earnings per share in 2022.

Fair value of financial instruments

The majority of the Group's financial assets and liabilities (accounts receivable, other receivables, cash and cash equivalents, liabilities to credit institutions, accounts payable and other liabilities) are measured at amortized cost in the report, which is also a good estimate of fair value. Assets that are measured at fair value through other comprehensive income include currency forwards with a carrying amount of MSEK –10 (-1), using a validation method based on observable market data. Liabilities that are measured at fair value through profit or loss include expensed conditional purchase considerations for shares in subsidiaries with a carrying amount of MSEK 16 (19). These items were valued using a method partly based on non-observable market data.

Events after the end of the period

On October 6, Lesjöfors completed the acquisition of the spring manufacturer Telform in Turkey.

On October 14, Beijer Alma completed the divestment of Habia Cable to HEW-KABEL Holding GmbH, an international manufacturer of custom-designed cables headquartered in Germany.

Risks and uncertainties

The Group's material risks and uncertainties include business and financial risks. Business risks may include major customer exposures to individual industries or companies. Financial risks primarily pertain to foreign currency risks which arise as more than 96 and 86 percent of sales for Habia Cable and Lesjöfors, respectively, are conducted outside Sweden, while approximately 70 percent of production takes place outside Sweden. Beijer Tech does not have a corresponding foreign currency risk. Beijer Alma may also be impacted by the global geopolitical situation due to events such as Russia's invasion of Ukraine, which may have consequences for the global supply chain, etc.

Management of the Group's financial risks is described in Note 27 of the 2021 Annual Report. Other risks are described in the Board of Directors' Report in the Annual Report.

Condensed income statement, Group

Condensed income statement, Group
Group, MSEK	2022	2021	2022	2021	Rolling	2021
	Q3	Q3	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	1,482.6	1,132.8	4,403.5	3,347.1	5,652.7	4,596.3
Cost of goods sold	-1,083.9	-752.9	-3,067.2	-2,232.6	-3,910.5	-3,075.9
Gross profit	398.6	379.9	1,336.3	1,114.5	1,742.2	1,520.4
Selling expenses	-82.8	-89.8	-336.4	-268.4	-443.5	-375.5
Administrative expenses	-115.7	-93.1	-372.0	-263.6	-512.6	-404.2
Other operating income	0.0	0.0	0.0	0.0	16.1	16.1
Profit from participations in associated companies	0.0	0.0	0.0	0.2	0.0	0.2
Items affecting comparability	0.0	-45.3	-25.0	-45.3	-25.0	-45.3
Operating profit	200.2	151.8	602.9	537.4	777.2	711.7
Interest income	7.3	0.0	9.3	0.2	10.2	1.1
Interest expense	-20.9	-8.0	-30.8	-21.6	-35.4	-26.2
Profit after net financial items	186.5	143.8	581.5	516.0	752.0	686.5
Income tax
Profit for the period continuing operations	-42.3	-28.4	-133.1	-105.4	-181.6	-153.8
	144.2	115.4	448.3	410.6	570.4	532.7
Discontinued operations
Habia Cable
tax	21.4	15.9	81.2	34.3	93.7	46.7
Profit for the period	165.7	131.3	529.5	444.9	664.1	579.4
Of which attributable to
Parent company shareholders	163.0	128.8	519.9	441.2	652.6	568.2
Non-controlling interests	2.6	2.6	9.6	3.7	11.5	5.5
Total profit for the period	165.7	131.3	529.5	444.9	664.1	579.4
Other comprehensive income
Items that may be reclassified to profit or loss
Cash-flow hedges	0.0	-2.9	-4.7	-10.7	-7.4	-13.4
Translation differences	37.1	0.6	164.3	32.5	222.2	90.4
Total other comprehensive income after tax	37.1	-2.3	159.6	21.8	214.8	77.0
Total profit	202.7	129.1	689.1	466.7	879.0	656.4
Of which attributable to
Parent Company shareholders	199.4	126.5	279.8	463.0	279.8	645.2
Non-controlling interests	3.3	2.6	10.5	3.7	12.5	5.5
Total profit	202.7	129.1	689.1	466.7	879.0	656.4
Other comprehensive income pertains in its entirety to items that may be reclassified to profit or loss.
Net earnings per share	2.71	2.14	8.63	7.32	10.83	9.43
Net earnings per share, excl. Discontinued operations	2.35	1.87	7.28	6.75	9.27	8.75
Dividend per share, SEK	–	–	3.50	3.00	3.50	3.00
	80.3	59.5	226.0	171.4	301.1	210.1
Depreciation included with, MSEK
of which amortization of acq. related intangible assets, MSEK	13.3	3.0	29.7	7.4	36.1	25.8

Net earnings per share	2.71	2.14	8.63	7.32	10.83	9.43
Net earnings per share, excl. Discontinued operations	2.35	1.87	7.28	6.75	9.27	8.75
Dividend per share, SEK			3.50	3.00	3.50	3.00
Depreciation included with, MSEK	80.3	59.5	226.0	171.4	301.1	210.1
of which amortization of acq. related intangible assets, MSEK	13.3	3.0	29.7	7.4	36.1	25.8

Condensed balance sheet, Group

Condensed balance sheet, Group
Group, MSEK	2022	2021	2021
	30 Sep	30 Sep	31 Dec
Assets
Fixed assets
Intangible assets	3,306.4	1,760.8	1,853.4
Tangible assets	1,229.4	1,198.8	1,253.9
Deferred tax assets	62.3	31.8	58.2
Financial assets	35.1	42.9	34.9
Right-of-use assets	210.7	227.5	236.6
Total fixed assets	4,843.9	3,261.8	3,437.0
Current assets
Inventories	1,524.5	1,170.5	1,360.9
Receivables	1,313.3	1,195.7	1,065.7
Cash and bank balances	387.2	491.0	480.5
Assets held for sale	853.1
Total current assets	4,078.1	2,857.2	2,907.1
Total assets	8,922.0	6,119.0	6,344.1
	2022	2021	2021
	30 Sep	30 Sep	31 Dec
Shareholders' equity and liabilities
Shareholders' equity
Share capital	125.5	125.5	125.5
Other contributed capital	444.4	444.4	444.4
Reserves	265.1	70.7	125.9
Retained earnings, including net profit for the period	2,501.5	2,042.0	2,162.0
Shareholders' equity attributable to Parent Company shareholders	3,336.5	2,682.6	2,857.8
Non-controlling interests	22.4	-4.4	-3.8
Total shareholders' equity	3,358.9	2,678.2	2,854.0
Non-current liabilities to credit institutions	1,130.7	1,101.4	999.1
Non-current right-of-use liabilities	141.9	148.1	165.0
Other non-current liabilities	942.8	377.4	381.7
Current liabilities to credit institutions	1,716.6	675.0	805.1
Current non-interest-bearing liabilities	1,096.3	1,061.6	1,060.7
Current right-of-use liabilities	77.4	77.3	78.5
Liabilities attributable to assets held for sale	457.1
Total liabilities	5,563.0	3,440.8	3,490.1
Total shareholders' equity and liabilities	8,922.0	6,119.0	6,344.1

Condensed income statement, Parent Company

Condensed income statement, Parent Company
Parent Company, MSEK	2022	2021	2022	2021	Rolling	2021
Administrative expenses	Q3	Q3	Jan-Sep	Jan-Sep	12 months	Full-year
Other operating income	-10.7	-9.1	-34.6	-29.6	-46.7	-41.7
Operating loss	4.5	4.6	13.7	13.7	18.2	18.2
Group contributions	-6.2 –	-4.5 –	-21.0 –	-15.9 0.0	-28.5 58.1	-23.5 92.9
Income from participations in Group companies		– –	–	0.0	272.0	280.0
Interest income and similar revenues	12.6	0.0	12.6	0.2	12.6	0.2
Interest expense and similar expenses	-14.2	-0.9	-13.9	-2.5	-15.0	-3.5
Profit/loss after net financial items	-7.8	-5.5	-22.3	-18.2	342.0	346.1
Tax on profit for the period	0.0	–	0.0	-0.6	-11.9	-12.5
Net profit	-7.8	-5.5	-22.3	-18.8	330.1	333.6
No items are attributable to other comprehensive income.
Condensed balance sheet, Parent Company
Parent Company, MSEK			2022	2021		2021
			30 Sep	30 Sep		31 Dec
Assets
Fixed assets
Tangible assets			0.1		0.2	0.2
Deferred tax assets			9.9		7.9	9.9

Condensed balance sheet, Parent Company

No items are attributable to other comprehensive income.
Condensed balance sheet, Parent Company
Parent Company, MSEK		2022	2021	2021
		30 Sep	30 Sep	31 Dec
Assets
Fixed assets
Tangible assets		0.1	0.2	0.2
Deferred tax assets		9.9	7.9	9.9
Participations in Group companies		610.3	610.6	610.6
Total fixed assets		620.3	618.7	620.7
Current assets
Receivables		1,375.1	46.8	417.7
Cash and cash equivalents		0.5	0.1	0.1
Total current assets		1,375.6	46.9	417.8
Total assets		1,995.9	665.6	1,038.5
		2022	2021	2021
		30 Sep	30 Sep	31 Dec
Shareholders' equity and liabilities
Share capital		125.5	125.5	125.5
Statutory reserve		165.4	165.4	165.4
Share premium		279.0	279.0	279.0
Retained earnings		79.4	-36.9	-36.9
Net profit/loss for the period		-22.3	-18.8	333.6
Total shareholders' equity		627.0	514.2	866.6
Current liabilities to credit institutions		1,248.7	131.4	139.2
Current non-interest-bearing liabilities		120.3	20.0	32.7
		1,995.9	665.6	1,038.5

Condensed cash-flow statement, Group

MSEK 2022 2021 2022 2021 2021 Q3 Q3 Jan-Sep Jan-Sep Full-year Cash flow from operating activities before change in working capital and capital expenditures 243.2 264.6 837.9 686.0 843.0 Change in working capital, increase (–) decrease (+) -93.0 6.4 -524.5 -159.5 -114.0 Cash flow from operating activities 150.3 271.0 313.4 526.5 729.0 Investing activities -57.2 -52.0 -149.4 -112.6 -169.0
Condensed cash-flow statement, Group
Acquired companies less cash and cash equivalents -996.2 -795.5 -1,186.7 -898.6 -1,046.0
Cash flow after capital expenditures -903.1 -576.5 -1,022.7 -484.7 -486.0
Financing activities 938.4 620.5 963.8 355.3 335.3
Change in cash and cash equivalents 35.3 44.0 -58.9 -129.4 -150.7
Whereof cash flow from discontinued operations 26.0 - -22.6 - -
Cash and cash equivalents at beginning of period 404.0 446.1 480.5 616.1 616.1
Exchange-rate fluctuations in cash and cash equivalents 0.7 1.0 18.4 4.4 15.1
Cash and cash equivalents at end of period 440.0 491.1 440.0 491.1 480.5
Whereof cash and cash equiv. from discontinued operations 52.9 - 52.9 - -
Approved but not utilized committed credit facilities 592.7 931.7 592.7 931.7 899.1
Available liquidity 1,032.7 1,422.8 1,032.7 1,422.8 1,379.6

Specification of changes in consolidated shareholders' equity

Specification of changes in consolidated shareholders' equity
	2022	2021		2021
MSEK
	Jan-Sep	Jan-Sep		Full-year
Opening shareholders' equity attributable to Parent Comp. shareholders	2,857.8	2,517.9		2,517.9
Comprehensive income for the period	689.0	463.0		645.2
Dividend paid	-210.9	-180.8		-180.8
Liabilities for the acquisition of minority shareholders,
recognized directly against shareholders' equity	0.6	-117.5		-124.5
Closing shareholders' equity attributable to Parent Comp. shareholders	3,336.5	2,682.6		2,857.8
Non-controlling interests
Opening shareholders' equity attributable to non-controlling interests	-3.8	-13.8		-13.8
Comprehensive income for the period	9.6		3.7	5.5
Total closing shareholders' equity	16.6		5.6	4.5
Closing shareholders' equity attributable to non-controlling interests	22.4		-4.5	-3.8

Number of shares

	2022	2021
	30 Sep	31 Dec
Number of shares outstanding	60,262,200	60,262,200
Total number of shares, after full dilution	60,262,200	60,262,200
Average number of shares, after full dilution	60,262,200	60,262,200

Of the total number of shares outstanding, 6,526,800 are Class A shares and the remaining shares are Class B shares.

Performance measures per subsidiary and quarter

Performance measures per subsidiary and quarter
The tables below include discontinued operations.
Net revenue, MSEK	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	1,045.2	1,010.1	1,020.8	822.6	805.3	792.0	777.9	3,898.7	3,197.8
Habia Cable	242.9	289.3	244.4	213.9	198.5	192.6	203.6	990.5	808.6
Beijer Tech	435.8	450.8	439.2	398.7	330.7	351.8	301.0	1,724.5	1,382.2
Parent Company and intra-Group	0.0	0.0	0.0	-0.4	0.2	0.0	0.1	-0.4	-0.1
Total	1,723.9	1,750.2	1,704.4	1,434.8	1,334.7	1,336.4	1,282.6	6,613.3	5,388.5
Annual change in net revenue, %	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	29.8	31.2	31.8	31.8	36.9	55.2	7.2	40.1	30.6
Habia Cable	22.4	20.0	20.6	20.6	11.8	-12.7	-10.9	31.9	0.6
Beijer Tech	31.8	45.9	43.6	43.6	47.0	51.9	14.5	49.2	38.6
Parent Company and intra-Group	–	–	–	–	–	–	–	–	–
Total	29.2	31.0	32.9	33.0	34.7	38.8	5.4	41.0	26.8
Order bookings, MSEK	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
Lesjöfors	Q3 1,020	Q2 976	Q1 1,007	Q4 880	Q3 804	Q2 815	818	Q112 months 3,883	Full-year 3,317
Habia Cable	261	260	312	251	229	242	198	1,084	920
Beijer Tech	357	461	433	432	328	360	314	1,682	1,433
Parent Company and intra-Group	–	–	–	–	–	–	–	–	–
Total	1,638	1,696	1,753	1,563	1,361	1,417	1,330	6,650	5,669

Annual change in net revenue, %	2022	2022	2022 -	2021	2021	2021	2021	Rolling	2021
	03	Q2	Q1	Q4	വ്യാപ്പിച്ചു. അവലംബം വിവ്യത്തിന്റെ വിവ്യാപ്പെടുന്നു. അവലംബം വാഴ്ചയുടെ വിവ്യാവരുടെ വിവ്യാവരുടെ വിവ്യാവരുടെ വിവ്യാവരുടെ വിവ്യത്തിന്റെ വിവ്യത്തിന്റെ വിവ്യത്തിന്റെ വിവ്യാപ്പിച	Q2			Q1 2 months Full-year
Lesjöfors	29.8	31.2	31.8	31.8	36.9	55.2	7.2	40.1	30.6
Habia Cable	22.4	20.0	20.6	20.6	11.8	-12.7	-10.9	31.9	0.6
Beijer Tech	31.8	45.9	43.6	43.6	47.0	51.9	14.5	49.2	38.6
Parent Company and intra-Group
Total	29.2	31.0	32.9	33.0	34.7	38.8	5.4	41.0	26.8

Order bookings, MSEK	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	1,020	976	1,007	880	804	815	818	3,883	3,317
Habia Cable	261	260	312	251	229	242	198	1,084	920
Beijer Tech	357	461	433	432	328	360	314	1,682	1,433
Parent Company and intra-Group	–	–	–	–	–	–	–	–	–
Total	1,638	1,696	1,753	1,563	1,361	1,417	1,330	6,650	5,669
Operating profit before items affecting comp., MSEK	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	154.4	156.0	191.0	135.1	167.1	178.5	171.8	636.5	652.5
Habia Cable	28.6	43.7	33.9	15.0	22.8	-0.3	25.6	121.2	63.1
Beijer Tech	51.9	42.4	52.9	48.3	34.4	23.9	22.8	195.5	129.4

Total	1,638	1,696	1,753	1,563	1,361	1,417	1,330	6,650	5,669
Operating profit before items affecting comp., MSEK	2022 Q3	2022 Q2	2022 Q1	2021 Q4	2021 Q3	2021 Q2	2021	Rolling Q112 months	2021 Full-year
Lesjöfors	154.4	156.0	191.0	135.1	167.1	178.5	171.8	636.5	652.5
Habia Cable	28.6	43.7	33.9	15.0	22.8	-0.3	25.6	121.2	63.1
Beijer Tech	51.9	42.4	52.9	48.3	34.4	23.9	22.8	195.5	129.4
Parent Company and intra-Group	-6.1	-7.8	-6.6	-9.2	-4.5	-5.6	-5.7	-29.7	-25.0
Total	228.8	234.3	271.2	189.2	219.8	196.5	214.5	923.5	820.0
Op. margin before items affecting comparability, %	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	14.8	15.4	18.7	16.4	20.8	22.5	22.1	16.3	20.4
Habia Cable	11.8	15.1	13.9	7.0	11.5	-0.2	12.6	12.2	7.8
Beijer Tech	11.9	9.4	12.0	12.1	10.4	6.8	7.6	11.3	9.4

Total	228.8	234.3	271.2	189.2	219.8	196.5	214.5	923.5	820.0
Op. margin before items affecting comparability, %	2022	2022	2022	2021	2021	2021	2021	Rolling	2021
	Q3	Q2	Q1	Q4	Q3	Q2		Q112 months	Full-year
Lesjöfors	14.8	15.4	18.7	16.4	20.8	22.5	22.1	16.3	20.4
Habia Cable	11.8	15.1	13.9	7.0	11.5	-0.2	12.6	12.2	7.8
Beijer Tech	11.9	9.4	12.0	12.1	10.4	6.8	7.6	11.3	9.4
Parent Company and intra-Group	–	–	–	–	–	–	–	–	–
Total	13.3	13.4	15.9	13.2	16.5	14.7	16.7	14.0	15.2

Performance measures

Performance measures
	2022	2021	2022	2021	2021	2020	2019
	Q3	Q3	Jan-Sep	Jan-Sep	Full-year	Full-year	Full-year
Financial performance measures
Net revenue*, MSEK	1,482.6	1,132.8	4,403.5	3,347.1	4,596.3	3,445.8	3,643.9
Operating profit, MSEK	200.2	151.8	602.9	537.4	711.7	539.8	502.5
Op. profit before items affecting comparability, MSEK	200.2	197.1	627.9	582.7	757.0	539.8	502.5
Profit before tax, MSEK	186.5	143.8	581.5	516.0	686.5	467.7	484.1
Earnings per share after tax, SEK*	2.71	2.14	8.63	7.32	9.43	6.58	7.15
Cash flow after cap. exp., excl. acquisitions per share, SEK *	1.54	3.63	2.72	6.87	9.29	9.89	5.22
Return on shareholders' equity, %	19.3	22.4	19.3	22.4	20.1	19.9	20.7
Return on capital employed, %	14.9	19.7	14.9	19.7	17.1	13.7	15.6
Shareholders' equity per share, SEK*	55.37	44.44	55.37	44.44	47.36	41.49	40.04
Equity ratio**, %	37.8	43.8	37.8	43.8	45.0	53.4	53.0
Net debt/equity ratio, %	74.3	48.0	74.3	48.0	46.0	22.9	29.9
Cash & cash equiv., incl. unutilized credit facilities, MSEK	1,032.7	1,422.8	1,032.7	1,422.8	1,379.6	1,828.5	1,069.5
Investments in tangible assets**, MSEK	60.6	35.8	151.8	96.8	175.9	124.4	209.9
Interest-coverage ratio**, multiple	9.9	22.7	19.9	24.4	23.5	17.9	22.1
Non-financial performance measures
Number of shares, 1000nds	60,262	60,262	60,262	60,262	60,262	60,262	60,262
Number of employees at end of period**	2,801	3,158	2,801	3,158	3,173	2,585	2,708
Return on Shareholders' equity and Capital employed is calculated using average capital over four quarters
*Financial KPIs defined accoring to IFRS, other alternative KPIs according to ESM	A
**Comparison periods not recalculated related to Discontinued operations

Discontinued operations

Balance sheet for discontinued operations

Balance sheet items and the number of employees in the comparative periods have not been restated for discontinued operations.
For definitions, visit https://beijeralma.se/en/investor-relations-en/definitions/
Discontinued operations
On July 5, 2022, Beijer Alma entered into an agreement to divest Habia Cable to HEW-KABEL Holding GmbH, an international manufacturer of custom-designed cables headquartered in Germany. The transaction was completed on October 14 and is subject to customary terms and conditions.
Refer to "Divestment of Habia Cable" on page 4 for more information.
Balance sheet for discontinued operations
MSEK	2022
Assets	30 Sep
Fixed assets	280.8
Current as sets	572.4
Total Ass ets	853.1
Shareholders' equity and liabilities
Shareholders' equity	396.0
Non-current liabili ties	245.1
Current li abilities	212.0
Total shareholders' equity and liabilities	853.1
BEIJER ALMA INTERIM REPORT Q3 2022 PAGE 17 (20)

Total shareholders' equity and liabilities	853.1

Income statement for discontinued operations

Income statement for discontinued operations
MSEK	2022	2021	2022	2021	Rolling	2021
	Q3	Q3	Jan-Sep	Jan-Sep	12 months	Full-year
Net revenue	243.6	198.5	776.6	594.1	978.7	808.6
Cost of goods sold	-174.2	-135.5	-540.5	-420.5	-690.0	-573.7
Gros s profit	69.5	63.0	236.1	173.6	288.7	234.9
Selling expenses	-21.2	-23.3	-68.5	-68.1	-93.1	-92.8
Administrative expenses	-19.7	-16.9	-63.2	-57.4	-74.5	-73.3
Operati ng profi t	28.6	22.8	106.1	48.1	121.1	63.1
Group contribution	0.0	0.0	0.0	0.0	7.2	7.2
Interes t i ncome and expens e	-1.3	-1.2	-4.2	-3.8	-6.8	-6.4
Profit after net financial items	27.2	21.6	101.9	44.3	121.5	63.9
Income tax	-5.8	-5.7	-20.6	-10.0	-27.8	-17.2
Profit for the period	21.4	15.9	81.2	34.3	93.7	46.7
Cash flow for discontinued operations
	2022	2021	2022	2021	Rolling	2021
		Q3	Jan-Sep	Jan-Sep	12 months	Full-year
MSEK			6.0	51.5	2.7	48.2
Ca sh flow from:	Q3					-23.7
Ca sh flow from operating activities	24.6	26.1
Investing activities	-8.7	-12.9	-33.6	-16.9	-40.5
Financing activities Net cash flow for the period	10.1 26.0	-2.3 10.9	5.0 -22.6	-57.6 -22.9	1.3 -36.5	-61.3 -36.8

Cash flow for discontinued operations

MSEK	2022	2021	2022	2021	Rolling	2021
Cash flow from:	ਉੱਤੇ		Q3 Jan-Sep		Jan-Sep 12 months	Full-year
Cash flow from operating activities	24.6	26.1	6.0	51.5	2.7	48.2
Investing activities	-8.7	-12.9	-33.6	-16.9	-40.5	-23.7
Financing activities	10.1	-2.3 -	5.0	-57.6	1.3	-61.3
Net cash flow for the period	26.0	10.9 -	-22.6	-22.9	-36.5	-36.8

Accounting policies

Group

This interim report was prepared in accordance with the International Financial Reporting Standards (IFRS), as adopted by the European Union (EU). The presentation of the interim report complies with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act.

The same accounting policies and bases for assessment are applied in this interim report as in the most recent annual report, with the addition of the policies described below with respect to discontinued operations.

Disclosures pursuant to IAS 34.16A, in addition to those in the financial statements, are also presented in other sections of the interim report.

Discontinued operations

In connection with Beijer Alma entering into an agreement on July 5, 2022 to divest Habia Cable to HEW-KABEL Holding GmbH, the criteria were met for the application of IFRS 5 Non-current Assets Held for Sale and Discontinued Operations. Discontinued operations are major lines of business that have been disposed of or comprise a disposal group held for sale. Profit after tax from discontinued operations is recognized separately in profit or loss.

When a group of assets and liabilities is classified as held for sale, this means that their carrying amounts will be recovered principally through sale and not through use. All assets included in the group are presented separately under assets and all liabilities in the group are presented separately under liabilities. The group is measured at the lower of its carrying amount and fair value less selling expenses.

In the consolidated income statement, Habia Cable is recognized separately under "Discontinued operations" and earlier periods have been restated in accordance with the same policies. In the balance sheet, the operation's net assets are recognized under "Assets held for sale" and "Liabilities attributable to assets held for sale". In accordance with IFRS, balance sheets for prior years have not been restated. More detailed financial statements for discontinued operations are presented in the note "Discontinued operations".

Use of performance measures not defined in IFRS

Beijer Alma applies the European Securities and Markets Authority's (ESMA) Guidelines on Alternative Performance Measures. In short, an alternative performance measure is a financial measure of historical or future financial performance, financial position or cash flows that is not defined or specified in IFRS.

Parent Company

The Parent Company, Beijer Alma AB, applies the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. These accounting policies correspond with the preceding year and with the consolidated accounting policies where applicable.

The interim report comprises pages 1–19, and pages 1–11 are thus an integrated part of this financial report.

Uppsala, October 27, 2022

Beijer Alma AB (publ)

Henrik Perbeck President and CEO

This report has not been reviewed by the company's auditors.

Presentation of the interim report

Henrik Perbeck, President and CEO, and Johan Dufvenmark, CFO, will present the Group's results and interim report and answer questions in a telephone conference at 10:00 a.m. (CEST) on October 27, 2022. The presentation will be webcast live and will also be available after the telephone conference. The presentation and a link to the webcast are available at www.beijeralma.se

Telephone number:

SE: +46 8 50 51 63 86 UK: +44 20 319 84884 PIN: 1207683#

If you have any questions, please contact:

Henrik Perbeck, President and CEO, tel: +46 18 15 71 60, henrik.perbeck@beijeralma.se Johan Dufvenmark, Chief Financial Officer, tel: +46 18 15 71 60, johan.dufvenmark@beijeralma.se

This information constitutes information that Beijer Alma AB is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 7:30 a.m. (CEST) on October 27, 2022.

Read more at:

www.beijeralma.se Link to the Group's investor relations page: www.beijeralma.se/ir

Visit our subsidiaries:

www.lesjoforsab.com www.beijertech.se

Calendar

• Year-end report for 2022: February 15, 2023
• Annual General Meeting: March 30, 2023, Uppsala Konsert & Kongress
• Interim report for the first quarter of 2023: April 27, 2023

Beijer Alma AB (publ) Dragarbrunnsgatan 45, Box 1747, SE-751 47 Uppsala, Sweden Telephone: +46 18 15 71 60 Registered office: Uppsala Corp. Reg. No.: 556229-7480 www.beijeralma.se