MEKO

Quarterly Report • Oct 29, 2021

Interim report January - September 2021 October 29, 2021

Organic growth, improved profitability and important green steps in our transformation

July 1–September 30, 2021

• Net sales increased 4 percent to SEK 2,968 M (2,863). Organic growth was 4 percent. Net sales were negatively impacted 1 percent due to currency effects.
• Adjusted EBIT amounted to SEK 290 M (270) and the adjusted EBIT margin was 10 percent (9).
• EBIT totaled SEK 255 M (208) and the EBIT margin was 8 percent (7). EBIT was not impacted by any items affecting comparability during the quarter (neg: 24).
• Earnings per share, before and after dilution, amounted to SEK 3.02 (2.18).
• Cash flow from operating activities amounted to SEK 450 M (521).
• Net debt was SEK 2,275 M (2,964) at the end of the period, compared with SEK 2,673 M at December 31, 2020 and SEK 2,549 M at June 30.
• Restrictions related to covid-19 had a limited impact on the quarter and the comparative period.

January 1–September 30, 2021

• Net sales increased 6 percent to SEK 9,180 M (8,631). Organic growth was 9 percent. Net sales were negatively impacted by currency effects of 2 percent.
• Adjusted EBIT amounted to SEK 828 M (649) and the adjusted EBIT margin was 9 percent (7).
• EBIT totaled SEK 721 M (478) and the EBIT margin was 8 percent (5). EBIT was not impacted by any items affecting comparability during the period (neg: 55).
• Earnings per share, before and after dilution, amounted to SEK 8.12 (4.38).
• Cash flow from operating activities amounted to SEK 1,035 M (1,252).
• Restrictions related to covid-19 had a limited impact on the period, while the comparative period was adversely impacted by the outbreak of covid-19 and the data breach.
• New financing through the issue of a senior unsecured bond of SEK 1.25 billion.
• At the capital markets day held on February 25 an updated strategy was presented to achieve the long-term financial targets.

SUMMARY OF THE
GROUP'S EARNINGS TREND SEK M	Jul - Sep 2021	Jul - Sep 2020	Change, %	Jan - Sep 2021	Jan-Sep 2020	Change, %	12 months Oct - Sep	Full-year 2020
Net sales	2 968	2 863	4	9 180	8 631	6	12 059	11 511
Adjusted EBIT	290	270	7	828	649	27	1 115	937
EBIT	255	208	23	721	478	51	981	738
Profit after financial items	225	167	35	608	349	74	855	596
Profit after tax	173	127	36	469	260	80	655	446
Earnings per share, SEK	3,02	2,18	39	8,12	4,38	85	11,42	7,67
Adjusted EBIT margin, %	10	9		9	7		9	8
EBIT margin, %	8	7		8	5		8	6

ADJUSTED EBIT SEK M	Jul - Sep 2021	Jul - Sep 2020	Change, %	Jan - Sep 2021	Jan - Sep 2020	Change, %	12 months Oct - Sep	Full-year 2020
EBIT	255	208	23	721	478	51	981	738
Costs attributable to restructuring in business area MECA/Mekonomen		-24			-55		5	-50
Gains from sale of property in business area FTZ							6	6
Items affecting comparability, total		-24			-55		11	-44
"Other items", material acquisition-related items 1)	-34	-38		-107	-117		-145	-155
Adjusted EBIT	290	270	7	828	649	27	1 115	937

1) Other items include material acquisition-related items. Current acquisition-related items pertain to the amortization of acquired intangible assets relating to

CEO comments

Organic growth, improved profitability and important green steps in our transformation

Mekonomen Group is continuing to grow and improve its profitability, at the same time as we pass milestones in the green transformation of our industry. The third quarter saw strong demand for our products and services – and greater loyalty from our customers. The market showed signs of normalization as restrictions were eased, but higher raw material prices, a shortage of individual components and supply chain disruptions impacted market development. We reported healthy organic growth for the quarter, with increased profitability and strong cash flow. Overall, Mekonomen Group has a unique and leading position with a very clear goal: To continue to deliver profitable growth as electrification continues with full force.

Sustained organic growth

Organic net sales growth was 4 percent in the third quarter, primarily driven by strong growth in Poland and Sweden. Currency effects had a negative impact on growth of 1 percent. We can clearly see that loyalty has increased among our customers, which is confirmation of our long-term quality efforts and unique accessibility. The pandemic also entered a new phase with the easing of restrictions, which strengthened the market. Meanwhile, higher raw material prices, a shortage of individual components and supply chain disruptions had the opposite effect on market developments. We have ensured good access to spare parts and accessories by being proactive and through our strong relationships with suppliers.

Improvement in profitability

Profitability increased during the quarter as a result of continued growth and due to our clear, consistent focus on reducing costs in all parts of Mekonomen Group. The gross margin improved to 46.4 percent (45.2), mainly due to previously implemented price increases and favorable exchange-rates related to our purchasing. EBIT rose to SEK 255 M (208) and the EBIT margin was 8 percent (7).

Strong financial position opens for new opportunities

We have purposefully endeavored to strengthen our financial position in the past year. As a result, our net debt relative to EBITDA decreased to 1.8 times (3.3). Cash flow from operating activities amounted to SEK 450 M (521), when the year-earlier period was positively impacted by deferred VAT and tax payments. We are now in a position of strength that offers us the right conditions to manage market fluctuations and to invest in continued growth. This could be organic in our existing operations or through strategic acquisitions.

Well-positioned for a more sustainable market

We continue to lead the industry in this important transformation to a fully electric, green vehicle fleet. Last spring, we were the first company in the industry to launch a new standard for servicing electric cars, E+. We also conducted an analysis of spare parts for the 30 most common electric cars in our markets. Our objective is to have a full range of these available in early 2022. We have already achieved our target that 1,500 of our workshops are to meet the requirements of E+, which is earlier than planned. Over the next eight months, we will increase the pace of this initiative as ProMeister is to travel throughout the length of Sweden to provide further training for our mechanics. In Denmark, FTZ has launched a concept for electric car workshops that encompasses everything from spare parts to equipment, service and training.

Summary of the third quarter

I am proud of what we have achieved together during the quarter. The market has gradually normalized as restrictions were lifted and our concepts are appreciated by our customers. We have met demand by being proactive in our purchasing and through strong relationships with our suppliers and, in parallel, improved our profitability through continued cost discipline. Our financial position is strong and we are well prepared to further strengthen our position by transforming into an even more sustainable and profitable company. We aim to be the best and most complete partner for everyone that services and maintains cars in our markets – today and in the future.

Pehr Oscarson President and CEO

THIS IS MEKONOMEN GROUP

Vision

We enable mobility – today, tomorrow and in the future.

Business concept

We are an international Group that operates and develops business in the automotive aftermarket. We focus on growth, collaboration, synergies and driving sustainable and digital development in our industry. Our business concept is timeless and is based on enabling mobility – today, tomorrow and in the future – as technology evolves and vehicles are used in new ways.

We satisfy the need for services and products to vehicle workshops and other companies through our market-leading concepts, distribution network and our efficient logistics chain. Our concepts are directed at private and commercial vehicle owners, for whom we meet vehicle service and maintenance needs.

Business flow

Mekonomen Group has a central purchasing function supporting all four business areas: FTZ, Inter-Team, MECA/Mekonomen and Sørensen og Balchen. The supply of goods is mainly from Europe and Asia via leading European suppliers. The business areas conduct wholesale and logistics operations as well as sales through our branch and workshop concepts in each market. Sales to companies account for over 90 percent of Group sales.

GROUP REVENUE

TOTAL REVENUE	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
DISTRIBUTION, SEK M	2021	2020	Change, %	2021	2020	Change, %	Oct - Sep	2020
Net sales, external
per business area
FTZ	804	808	-1	2 578	2 502	3	3 444	3 369
Inter-Team	571	524	9	1 576	1 530	3	2 034	1 988
MECA/Mekonomen 1)	1 382	1 320	5	4 358	3 994	9	5 727	5 363
Sørensen og Balchen	211	210	0	666	604	10	852	791
Central functions 1)	1	0	240	2	1	252	2	1
Total net sales,
Group	2 968	2 863	4	9 180	8 631	6	12 059	11 511
Other operating revenue	44	36	24	154	131	17	275	253
GROUP REVENUE	3 013	2 899	4	9 334	8 763	7	12 334	11 763

Revenue distribution per country and business area is presented in the table on page 15.

1) External operations in ProMeister Solutions are recognized as of 2021 in MECA/Mekonomen. Comparative figures have been restated.

GROWTH NET SALES PERCENT		FTZ		Inter-Team		MECA/ Mekonomen		Sørensen og Balchen		Group
2021	Q3	Jan–Sep	Q3	Jan–Sep	Q3	Jan–Sep	Q3	Jan–Sep	Q3	Jan–Sep
Organic growth	0,9	7,4	13,9	11,3	3,6	8,6	-1,3	10,2	4,4	8,9
Effect from acquisitions/divestments	0,0	0,0	0,0	0,0	0,6	0,6	0,0	0,0	0,3	0,3
Currency effects	-1,5	-3,9	-5,0	-7,2	0,6	0,1	1,5	0,6	-1,0	-2,3
Effect, workdays	0,0	-0,5	0,0	-1,1	0,0	-0,2	0,0	-0,6	0,0	-0,5
Growth net sales	-0,6	3,0	8,9	3,0	4,7	9,1	0,3	10,2	3,7	6,4

July 1–September 30, 2021

Net sales increased 4 percent to SEK 2,968 M (2,863). Organic growth was 4 percent. The increased sales, despite negative currency effects of 1 percent, which corresponds to SEK 28 M, was due to a healthy recovery compared with the preceding year. The number of workdays was unchanged in all countries in which Mekonomen Group operates (Denmark, Norway, Poland and Sweden) compared with the preceding year.

January 1–September 30, 2021

Net sales increased 6 percent to SEK 9,180 M (8,631). Organic growth was 9 percent. The increase in sales, despite negative currency effects of 2 percent, which corresponds to SEK 197 M, was due to a healthy recovery compared with the preceding year. For the first nine months of the year, the number of workdays was unchanged in Sweden and Finland, one day fewer in Denmark and Norway and two days fewer in Poland, compared with the year-earlier period.

GROUP PERFORMANCE

July 1–September 30, 2021

Adjusted EBIT

Adjusted EBIT amounted to SEK 290 M (270) and the adjusted EBIT margin was 10 percent (9). Currency effects in the balance sheet had a negative impact of SEK 7 M (neg: 4) on adjusted EBIT during the quarter. Adjusted EBIT was positively impacted in the comparative period by support of SEK 9 M due to the covid-19 pandemic in the form of reduced employer contributions, sick pay support and short-term working support, primarily in the Inter-Team business area. Restrictions related to covid-19 had a limited impact on the quarter and the comparative period.

EBIT

EBIT amounted to SEK 255 M (208) and the EBIT margin was 8 percent (7). EBIT was not impacted by any items affecting comparability during the quarter this year (neg: 24). Items affecting comparability for the preceding year were attributable to structural measures implemented in the MECA/Mekonomen business area. EBIT was positively impacted in the comparative period due to support of SEK 9 M due to the covid-19 pandemic in the form of reduced employer contributions, sick pay support and short-term working support, primarily in the Inter-Team business area. Currency effects in the balance sheet had a negative impact of SEK 7 M (neg: 4) on EBIT. Restrictions related to covid-19 had a limited impact on the quarter and the comparative period.

Other earnings

Profit after financial items amounted to SEK 225 M (167). Net interest expense was SEK 26 M (expense: 33) and other financial items amounted to an expense of SEK 4 M (expense: 7). Profit after tax amounted to SEK 173 M (127). Earnings per share, before and after dilution amounted to SEK 3.02 (2.18).

January 1–September 30, 2021

Adjusted EBIT

Adjusted EBIT amounted to SEK 828 M (649) and the adjusted EBIT margin was 9 percent (7). Currency effects in the balance sheet had a positive impact of SEK 2 M (neg: 25) on adjusted EBIT for the period. Adjusted EBIT was positively impacted in the comparative period by support of SEK 40 M due to the covid-19 pandemic in the form of reduced employer contributions, sick pay support and short-term working support, primarily in the MECA/Mekonomen and Inter-Team business areas. Restrictions related to covid-19 had a limited impact on the period, while the comparative period was negatively impacted by the outbreak of covid-19 and the data breach at MECA/Mekonomen, and was substantially impacted by currency effects.

EBIT

EBIT amounted to SEK 721 M (478) and the EBIT margin was 8 percent (5). EBIT was not impacted by any items affecting comparability during the period this year (neg: 55). Items affecting comparability for the preceding year were attributable to structural measures implemented in the MECA/Mekonomen business area. EBIT was positively impacted in the comparative period due to support of SEK 40 M due to the covid-19 pandemic in the form of reduced employer contributions, sick pay support and short-term working support, primarily in the MECA/Mekonomen and Inter-Team business areas. Currency effects in the balance sheet had a positive impact of SEK 2 M (neg: 25) on EBIT. Restrictions related to covid-19 had a limited impact on the period, while the comparative period was adversely impacted by the outbreak of covid-19 and the data breach at MECA/Mekonomen, and was substantially impacted by currency effects.

Other earnings

Profit after financial items amounted to SEK 608 M (349). Net interest expense amounted to SEK 82 M (expense: 95) and other financial items amounted to an expense of SEK 32 M (expense: 34). Profit after tax amounted to SEK 469 M (260). Net financial items for the nine-month period also include costs arising from the new financing and the early termination of previous financing and interest-rate swaps. Earnings per share, before and after dilution, amounted to SEK 8.12 (4.38).

FINANCIAL POSITION AND CASH FLOW

Cash flow from operating activities amounted to SEK 450 M (521) in the third quarter and SEK 1,035 M (1,252) for the nine-month period. Tax paid amounted to SEK 25 M (57) for the third quarter and SEK 188 M (143) for the nine-month period. Cash and cash equivalents amounted to SEK 924 M (423) compared with SEK 420 M at year end. The equity/assets ratio was 38 percent (36). Long-term interest-bearing liabilities amounted to SEK 4,235 M (4,234) including a long-term lease liability of SEK 1,205 M (1,215), compared with SEK 3,911 M at year end. Current interest-bearing liabilities amounted to SEK 731 M (840), including a current lease liability of SEK 461 M (436), compared with SEK 1,043 M at year end. During the nine-month period, grants utilized in 2020 in Denmark and Sweden were repaid as planned, at the same time as new grants were received in Denmark. In total, these deferred VAT, employer contributions and tax payments amounted to approximately SEK 132 M as of September 30, compared with SEK 131 M at June 30, SEK 163 M at March 31, SEK 208 M at year end, and SEK 270 M at September 30 of the preceding year. These deferred payments will be repaid in forthcoming periods until the first quarter of 2023 and will then have a negative impact on cash flow and the debt/equity ratio.

Net debt amounted to SEK 2,275 M (2,964), compared with SEK 2,673 M at year end, representing a decrease of SEK 398 M. The changes to net debt during the year were primarily impacted by a new financing structure, change in operating EBIT, change in working capital, investments and currency fluctuations. In the first quarter, a senior unsecured bond was issued for SEK 1,250 M, which was partly used for the early termination of the Revolving credit facility (RCF) of SEK 801 M and previous loans of SEK 90 M. In addition to this, loan repayments according to plan totaled SEK 51 M during the quarter and SEK 187 M during the nine-month period and an extra repayment was made of SEK 51 M, which was postponed following the outbreak of covid-19 during the first quarter of 2020. Mekonomen's available cash and unutilized credit facilities totaled approximately SEK 2,044 M at the end of September, compared with SEK 1,442 M at year end and SEK 1,743 M at the end of the previous quarter. The company fulfills all covenants in the loan agreements as of September 30, 2021.

INVESTMENTS

During the third quarter, investments in fixed assets amounted to SEK 185 M (227) including leases of SEK 157 (196) and during the nine-month period investments were SEK 551 M (377), with leases of SEK 423 M (281). The large increase in leases is mainly related to rental contracts due to new rental contracts but also extended durations and raised rental charges in existing contracts. Other investments are mainly related to workshop profiling, workshop customization, workshop equipment, inventories to branches, warehouses and workshops and IT investments. Depreciation and impairment of tangible fixed assets and right-of-use assets amounted to SEK 146 M (155) in the third quarter and to SEK 434 M (461) for the nine-month period.

Company and business combinations amounted to SEK 3 M (2) during the third quarter and to SEK 23 M (52) for the nine-month period, of which SEK – M (–) pertained to an estimated supplementary purchase consideration for the third quarter and SEK 2 M (5) for the nine-month period. During the quarter, SEK 1 M (–) was paid in supplementary purchase considerations and SEK 4 M (2) in the nine-month period. Acquired assets amounted to SEK 9 M (33) and assumed liabilities to SEK 0 M (22) for the nine-month period. Aside from goodwill, which amounted to SEK 12 M (25), intangible surplus values of SEK 1 M (47) were identified for the nine-month period pertaining to customer relations. Deferred tax liabilities attributable to acquired intangible fixed assets amounted to SEK – M (8) for the nine-month period. Acquired non-controlling interests amounted to SEK 12 M (6) for the third quarter and SEK 27 M (11) for the nine-month period. Divested non-controlling interests amounted to SEK – M (–) in the third quarter and SEK 0 M (–) for the nine-month period. Divested businesses amounted to SEK 2 M (1) in both the third quarter and the nine-month period.

ACQUISITIONS AND START-UPS

Third quarter

MECA/Mekonomen acquired one workshop in Karlstad in Sweden.

Earlier in the year

MECA/Mekonomen acquired a former partner branch in Vetlanda in Sweden and a partner branch in Bergen in Norway and Sørensen og Balchen acquired one workshop in Drammen/Oslo in Norway. MECA/Mekonomen has also started up a new branch in Gjøvik in Norway, Sørensen og Balchen has started up a branch in Forus in Norway and Inter-Team has started up two branches in Tychy and Oddział in Poland.

Number of branches and workshops

At the end of the period, the total number of branches in the chains was 477 (476), of which 398 (396) were proprietary branches. The number of affiliated workshops totaled 3,690 (3,648). See the distribution in the table on page 17.

EMPLOYEES

During the period, the average number of employees was 5,053 (4,883). See the distribution in the table on page 17.

PERFORMANCE BY BUSINESS AREA

As of the first quarter of 2019, the Group reports in four business areas: FTZ, Inter-Team, MECA/Mekonomen and Sørensen og Balchen.

BUSINESS AREA FTZ

FTZ	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2021	2020	Change, %	2021	2020	Change, %	Oct - Sep	2020
Net sales, external	804	808	-1	2 578	2 502	3	3 444	3 369
EBIT	89	91	-2	277	255	9	353	331
EBIT margin, %	11	11		11	10		10	10
No. of branches/of which proprietary				50 / 50	51 / 51			51 / 51
No. of AutoMester				406	414			409
No. of Hella Service Partner				313	331			322
No. of Din BilPartner				151	150			152
No. of CarPeople				60	45			47

The FTZ business area mainly includes wholesale and branch operations in Denmark.

In the third quarter, net sales fell 1 percent to SEK 804 M (808), negatively impacted by currency effects of SEK 12 M. The sales trend was relatively healthy with organic growth of 1 percent. Access to spare parts and accessories remained favorable. The share of online trade and digital bookings rose compared with the year-earlier quarter.

EBIT amounted to SEK 89 M (91) and the EBIT margin was 11 percent (11) for the quarter. The slightly weaker earnings were mainly due to increased marketing and transport costs. The gross margin improved compared with the year-earlier quarter, mainly due to higher supplier bonuses.

In the third quarter, the number of workdays was unchanged in Denmark compared with the year-earlier quarter.

BUSINESS AREA INTER-TEAM

INTER-TEAM	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2021	2020	Change, %	2021	2020	Change, %	Oct - Sep	2020
Net sales, external	571	524	9	1 576	1 530	3	2 034	1 988
EBIT	29	31	-7	71	49	46	109	86
EBIT margin, %	5	6		4	3		5	4
No. of branches/of which proprietary				84 / 82	82 / 79			82 / 79
No. of Inter Data Service				522	450			450
No. of O.K. Serwis				233	211			211

The Inter-Team business area mainly includes wholesale and branch operations in Poland and export business.

Net sales increased 9 percent to SEK 571 M (524) in the third quarter. Currency effects had a negative impact on net sales of SEK 26 M. Organic growth was 14 percent. Activity in the Polish market was strong during the quarter, due to the easing of restrictions. Export sales continued to perform positively during the quarter, mainly to Germany and Slovakia.

EBIT amounted to SEK 29 M (31) during the quarter and the EBIT margin was 5 percent (6). Support for personnel-related costs had a positive impact on EBIT of approximately SEK 7 M in the comparative period. The underlying improvement in earnings was primarily due to higher volumes and effective cost control. The gross margin was unchanged for the quarter, as increased volumes and higher supplier bonuses offset higher purchase prices due to currency fluctuations.

In the third quarter, the number of workdays was unchanged in Poland compared with the year-earlier quarter.

BUSINESS AREA MECA/MEKONOMEN

MECA/MEKONOMEN 1)	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2021	2020	Change, %	2021	2020	Change, %	Oct - Sep	2020
Net sales, external	1 382	1 320	5	4 358	3 994	9	5 727	5 363
EBIT	137	91	50	367	192	91	527	352
EBIT margin, %	10	7		8	5		9	6
No. of branches/of which proprietary				277 / 228	278 / 229			277 / 229
No. of Mekonomen Bilverkstad				773	801			759
No. of MECA Car Service				727	732			725
No. of MekoPartners				192	208			191
No. of Speedy				41	43			42
No. of MECA Tungbil				13	–			–
No. of AlltiBil				7	7			7

1) External operations in ProMeister Solutions are recognized as of 2021 in MECA/Mekonomen. Comparative figures have been restated.

The MECA/Mekonomen business area mainly includes wholesale, branch, workshop and fleet operations in Sweden, Norway and Finland. The business area comprises MECA, Mekonomen and a number of smaller operations.

Net sales for the third quarter increased 5 percent to SEK 1,382 M (1,320), of which SEK 834 M (775) in the Swedish operations, SEK 519 M (520) in the Norwegian operations and SEK 30 M (25) in the Finnish operations. Currency effects had a positive impact on net sales of SEK 7 M. Organic growth was 4 percent.

Activity in the Swedish market remained strong for much of the quarter. In Norway, the sales trend was weaker compared with a strong year-earlier quarter. The trend for ProMeister Solutions training activities remained weak due to restrictions, though demand rose sharply in the latter part of the quarter as restrictions were lifted.

EBIT rose to SEK 137 M (91) and the EBIT margin to 10 percent (7) in the third quarter. Earnings were positively affected by higher sales and the structural and savings measures implemented last year. No items affecting comparability were reported for the quarter (neg: 24). The gross margin improved compared with the year-earlier quarter, positively impacted by implemented price adjustments, favorable currency fluctuations and higher supplier bonuses.

In the third quarter, the number of workdays was unchanged in Finland, Norway and Sweden compared with the year-earlier quarter.

SØRENSEN OG BALCHEN	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2021	2020	Change, %	2021	2020	Change, %	Oct - Sep	2020
Net sales, external	211	210	0	666	604	10	852	791
EBIT	46	53	-13	148	136	9	182	170
EBIT margin, %	22	25		22	22		21	21
No. of branches/of which proprietary				66 / 38	65 / 37			65 / 37
No. of BilXtra workshops				252	256			253

BUSINESS AREA SØRENSEN OG BALCHEN

The Sørensen og Balchen business area mainly includes wholesale and branch operations in Norway. Sørensen og Balchen is the business area in the Group with the largest share of direct sales to consumers and is therefore more exposed to the retail trade than the Group as a whole.

Net sales in the third quarter amounted to SEK 211 M (210). Currency effects had a positive impact on net sales of SEK 3 M. Organic growth was a negative 1 percent. Sales to wholesaler segments remained positive in the quarter, while sales in the consumer segment was slightly weaker compared with a strong year-earlier quarter. Online sales performed favorably.

EBIT amounted to SEK 46 M (53) and the EBIT margin was 22 percent (25) for the quarter. The fall in earnings is due to a very strong year-earlier quarter positively affected by price adjustments and a rapid adaptation of operations related to covid-19. Gross margin improved compared with the year-earlier quarter, primarily due to price adjustments and higher supplier bonuses.

In the third quarter, the number of workdays was unchanged in Norway compared with the year-earlier quarter.

NUMBER OF WORKDAYS PER QUARTER AND COUNTRY

Mekonomen has limited seasonal effects in its operations. However, the number of workdays affects sales and earnings and extreme summer or winter weather can also impact sales.

WORKDAYS		Q1			Q2			Q3			Q4			Full-year
BY COUNTRY	2021	2020	2019	2021	2020	2019	2021	2020	2019	2021	2020	2019	2021	2020	2019
Denmark	63	64	63	59	59	59	66	66	66	63	63	62	251	252	250
Finland	62	63	63	61	60	60	66	66	66	62	63	61	251	252	250
Norway	63	64	63	59	59	58	66	66	66	64	63	62	252	252	249
Poland	62	63	63	61	62	61	66	66	65	63	63	62	252	254	251
Sweden	62	63	63	61	60	59	66	66	66	64	63	62	253	252	250

SIGNIFICANT RISKS AND UNCERTAINTIES

Mekonomen Group is exposed to a number of external, operating and financial risks. All identified risks are monitored continuously and, if necessary, risk-reducing measures are taken to limit the effects. The company conducted a review and assessment of operating and financial risks and uncertainties in accordance with the 2020 Annual Report and found that no new significant risks have occurred since then. The most relevant risk factors are described in the 2020 Annual Report, page 26 and Note 11. For the effect of exchange-rate fluctuations on profit before tax, refer to page 36 of the 2020 Annual Report.

Mekonomen Group has, through its Risk and Compliance Committee (RCC), which consists of Group Management and the Group's risk manager, a particular focus on identifying critical changes in the area of risk. The risk manager and CFO maintain frequent dialogues with business area managers to limit the risks and prevent these from occurring. This process is conducted with various stakeholders, the Board and the Audit Committee.

PARENT COMPANY, "CENTRAL FUNCTIONS" AND "OTHER ITEMS"

The Parent Company's operations mainly comprise Group Management. The Parent Company's earnings after net financial items were a negative SEK 44 M (neg: 40) for the third quarter and a negative SEK 149 M (neg: 77) for the nine-month period, excluding dividends from subsidiaries of SEK 530 M (474) for the nine-month period. Net financial items for the nine-month period also include costs arising from the new financing, early termination of previous financing and interest-rate swaps. The average number of employees in the Parent Company was 6 (6). During the third quarter, Mekonomen AB sold goods and services to Group companies for a total of SEK 10 M (9) and for SEK 32 M (26) in the nine-month period.

"Central functions" comprise group-wide functions that also include Mekonomen AB. Group-wide functions comprise functions that support the Group's work: finance and controlling, risk management and internal audit, sustainability, legal, business development, communication and market, HR and operations, which comprises purchasing, product range, logistics and IT. The units reported in "Central functions" do not reach the quantitative thresholds for separate reporting, and the benefits of reporting these segments separately are considered limited for users of financial statements. EBIT for "Central functions" was a negative SEK 11 M (neg: 19) for the third quarter and negative SEK 35 M (neg: 36) for the nine-month period.

"Other items" includes acquisition-related items attributable to Mekonomen AB's direct acquisitions. Current acquisition-related items are amortizations of acquired intangible assets pertaining to the acquisitions of MECA, FTZ and Inter-Team amounting to an expense of SEK 34 M (expense: 38) for the third quarter, and an expense of SEK 107 M (expense: 117) for the nine-month period, which also includes Sørensen og Balchen. During the second quarter, acquired intangible assets relating to Sørensen og Balchen were written off in full and amortization has therefore been concluded.

EVENTS DURING THE PERIOD

On March 11, 2021, Mekonomen Group issued a senior unsecured bond of SEK 1.25 billion, within a framework amount of SEK 2 billion, maturing on March 18, 2026. The bond has an interest rate of 3m Stibor +250 basis points. The issue attracted strong interest from Nordic investors and was oversubscribed. The bond proceeds have been used to refinance existing bank debt and for general corporate purposes. On April 12, Mekonomen AB was approved as an issuer of fixed income instruments by Nasdaq Stockholm. The bond issued on March 11 was therefore admitted to trading on Nasdaq Stockholm's corporate bond list. The first day of trading was April 14, 2021.

Mekonomen's Annual General Meeting was held on May 7, 2021. Robert Hanser and Michael Løve were elected as new Board members and Eivor Andersson, Kenny Bräck, Joseph M. Holsten, Magnus Håkansson and Helena Skåntorp were re-elected as Board members. Robert Hanser was elected Chairman of the Board. Board Chairman John S. Quinn and Board member Arja Taaveniku informed the Nomination Committee that they were refraining from re-election at the 2021 Annual General Meeting. For other decisions and documentation, see Mekonomen Group's website, www.mekonomen.com.

During the second quarter, a long-term, share-based incentive program was launched as resolved by the AGM on May 7, 2021, LTIP 2021. The main motivation for establishing LTIP 2021 is to connect shareholders' and company management and other key individuals' interests to ensure maximum long-term value generation and to encourage individual share ownership in Mekonomen.

For a more detailed description of LTIP 2021, refer to information from the AGM on May 7, 2021 at www.mekonomen.com

COVID-19 AND ITS IMPACT ON FINANCIAL STATEMENTS IN THE THIRD QUARTER

During the period, covid-19 had a limited impact in markets where Mekonomen Group conducts business. For further information on this, refer to the section "Financial position and cash flow" and the description of developments given by each business area.

Mekonomen Group has continued to carefully monitor the development of covid-19 and any changes to restrictions imposed in the Group's markets. Further measures in addition to those already taken may therefore be needed. We also have continued focus on the health and safety of our employees, customers and suppliers.

Goodwill

In conjunction with the annual accounts, standard assessments were carried out of the impairment requirement for goodwill and other intangible assets with an indefinite useful life. According to these assessments, there is no indication of impairment for goodwill and other intangible assets with indefinite useful lives as at December 31, 2020. We see no indication of a decrease in value since then.

Reduced employer contributions, sick pay support and short-time working support and support for personnel-related costs

Relief and grants relating to covid-19 had no impact on EBIT for Mekonomen Group during the quarter.

Inventories

As of September 30, the effects of the covid-19 pandemic have not had any significant impact on the valuation of inventories.

Credit losses

As of September 30, there is no indication of the need to expand credit loss reserves.

Financial position

During the quarter, focus has remained on securing liquidity and cash flow. Liquidity and cash flow during the quarter were favorable, largely thanks to positive earnings, the new financing and continued support and relief concerning mainly the postponement of VAT and tax payments. During the quarter, no new support was received and no repayments were made. These grants totaled approximately SEK 132 M at the end of the quarter.

EVENTS AFTER THE END OF THE PERIOD

No significant events occurred after the end of the reporting period.

ACCOUNTING POLICIES

Mekonomen Group applies the International Financial Reporting Standards (IFRS) as adopted by the EU. This interim report was prepared in accordance with the Annual Accounts Act and IAS 34 Interim Financial Reporting. The same accounting policies and measurement methods were applied as in the most recent Annual Report. Interim report consists of pages 1–23 and should be read in its entirety.

The Parent Company prepares its accounts in accordance with the Swedish Annual Accounts Act and RFR 2 and applies the same accounting policies and measurement methods as in the most recent Annual Report.

Totals quoted in tables and statements may not always be the exact sum of the individual items because of rounding differences. The aim is that each line should correspond to its source, and rounding differences may therefore arise.

FORTHCOMING FINANCIAL REPORTING DATES

Information	Period	Date
Year-end report	January–December 2021	2022-02-11
Interim report	January–March 2022	2022-05-11
Interim report	January–June 2022	2022-08-24
Interim report	January–September 2022	2022-11-02
Year-end report	January–December 2022	2023-02-15

ANNUAL GENERAL MEETING

The 2021 Annual General Meeting (AGM) will be held on May 20, 2022 in Stockholm. The Annual Report will be published and available on Mekonomen's website by April 14, 2021.

NOMINATION COMMITTEE

In accordance with the guidelines established at the AGM on May 7, 2021, Mekonomen has established a Nomination Committee. The Nomination Committee shall prepare and submit proposals to the AGM on May 20, 2022 pertaining to the election of a Chairman of the AGM, the number of Board members and deputy members, the election of a Chairman of the Board and other members to the company's Board of Directors, Board fees, as well as any remuneration for committee work, election of and fees paid to auditors, and guidelines for the appointment of the Nomination Committee.

Prior to the 2022 AGM, the Nomination Committee consists of Robert Hanser (LKQ Corporation), Thomas Wuolikainen (Fourth Swedish National Pension Fund), Kristian Åkesson (Didner & Gerge Fonder AB), and Caroline Sjösten (Swedbank Robur Fonder) Mekonomen's Board member, Helena Skåntorp, was co-opted to the Nomination Committee. The first Nomination Committee meeting is scheduled and the Chairman of the Nomination Committee will then be appointed.

Stockholm October 29, 2021 Mekonomen AB (publ), Corp. Reg. No. 556392-1971

Pehr Oscarson President and CEO

For further information, please contact: Pehr Oscarson, President and CEO, Mekonomen AB, Tel +46 (0)8-464 00 00 Åsa Källenius, CFO, Mekonomen AB, Tel +46 (0)8-464 00 00 Fredrik Sätterström, IRO, Mekonomen AB, Tel +46 (0)8-464 00 00

This information is such information that Mekonomen AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Market Act.

The information was submitted for publication, through the agency of the contact person set out above, at 07:30 a.m CET on October 29, 2021

The interim report is published in Swedish and English. The Swedish version is the original version and has been translated into English.

Auditor's report

Mekonomen AB (publ), Corp. Reg. No. 556392-1971

Introduction

We have reviewed the condensed interim financial information (interim report) of Mekonomen AB (publ) as of September 30, 2021 and the nine-month period then ended. The Board of Directors and the CEO are responsible for the preparation and presentation of the interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards of Auditing (ISA), and other generally accepted auditing standards in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Stockholm, October 29, 2021

PricewaterhouseCoopers AB

Linda Corneliusson Authorized Public Accountant

CONSOLIDATED FINANCIAL REPORTS

CONDENSED CONSOLIDATED INCOME	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
STATEMENT, SEK M	2021	2020	2021	2020	Oct - Sep	2020
Net sales	2 968	2 863	9 180	8 631	12 059	11 511
Other operating revenue	44	36	154	131	275	253
Total revenue	3 013	2 899	9 334	8 763	12 334	11 763
Goods for resale	-1 591	-1 568	-5 001	-4 760	-6 559	-6 318
Other external costs	-350	-329	-1 060	-1 054	-1 409	-1 403
Personnel expenses	-616	-581	-1 950	-1 838	-2 581	-2 469
Operating profit before depreciation/
amortization and impairment of tangible
and intangible fixed assets (EBITDA)	455	421	1 322	1 111	1 785	1 574
Depreciation and impairment of tangible
fixed assets and
right-of-use assets	-146	-155	-434	-461	-579	-606
Operating profit before amortization and
impairment of intangible
fixed assets (EBITA)	309	266	888	650	1 206	968
Amortization and impairment of intangible
fixed assets	-54	-58	-167	-172	-226	-230
EBIT	255	208	721	478	981	738
Interest income	2	2	7	8	10	10
Interest expenses	-28	-35	-89	-102	-119	-133
Other financial items	-4	-7	-32	-34	-17	-19
Profit after financial items	225	167	608	349	855	596
Tax	-53	-40	-139	-90	-200	-150
PROFIT FOR THE PERIOD	173	127	469	260	655	446
Profit for the period attributable to:
Parent Company's shareholders	169	123	455	247	640	432
Non-controlling interests	4	4	13	13	15	15
PROFIT FOR THE PERIOD	173	127	469	260	655	446
Earnings per share before and after dilution,
SEK	3,02	2,18	8,12	4,38	11,42	7,67

CONSOLIDATED STATEMENT OF	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
COMPREHENSIVE INCOME, SEK M	2021	2020	2021	2020	Oct - Sep	2020
Profit for the period	173	127	469	260	655	446
Other comprehensive income:
Components that will not be
reclassified to profit/loss for the year:
– Actuarial gains and losses	-3	5	-3	5	-3	5
Components that may later be
reclassified to profit/loss for the year:
– Exchange-rate differences from translation
of foreign subsidiaries	21	9	111	-92	-89	-291
– Hedging of net investments 1)	-16	-7	-46	23	39	108
– Cash-flow hedges 2)	1	1	6	-5	8	-4
Other comprehensive income, net after tax	4	7	68	-69	-44	-182
COMPREHENSIVE INCOME FOR THE PERIOD	176	134	537	190	611	265
Comprehensive income for the period attributable to:
Parent Company's shareholders	172	130	521	180	594	253
Non-controlling interests	4	4	16	11	17	12
COMPREHENSIVE INCOME FOR THE PERIOD	176	134	537	190	611	265

1) Loans raised in EUR in conjunction with acquisitions in Denmark hedge the currency risk in the net investment and loans in NOK until the start of the first

quarter of 2021 as well as cross-currency swaps entered into in the first quarter of 2021, which hedge net investment in Norway. The currency translation is recognized in accordance with IFRS 9.

2) Holding of financial interest-rate derivatives for hedging purposes, according to Level 2 measurements defined in IFRS 13.

CONDENSED CONSOLIDATED BALANCE SHEET	September 30	September 30	December 31
SEK M	2021	2020	2020
ASSETS 1)
Intangible fixed assets	5 388	5 586	5 410
Tangible fixed assets	439	448	448
Right-of-use assets	1 670	1 661	1 606
Financial fixed assets	101	100	98
Deferred tax assets	2	-	1
Goods for resale	2 774	2 653	2 704
Current receivables	1 922	1 821	1 506
Cash and cash equivalents	924	423	420
TOTAL ASSETS	13 219	12 693	12 193
SHAREHOLDERS' EQUITY AND LIABILITIES 1)
Shareholders' equity	5 071	4 520	4 595
Long-term liabilities, interest-bearing	3 030	3 019	2 743
Long-term lease liabilities	1 205	1 215	1 168
Deferred tax liabilities	347	377	388
Long-term liabilities, non-interest-bearing	44	95	16
Current liabilities, interest-bearing	270	405	611
Current lease liabilities	461	436	432
Current liabilities, non-interest-bearing	2 791	2 627	2 240
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	13 219	12 693	12 193

1) The carrying amounts of financial assets and liabilities are measured at either fair value or a reasonable approximation of fair value.

CONDENSED CONSOLIDATED CHANGES IN	September 30	September 30	December 31
SHAREHOLDERS' EQUITY, SEK M	2021	2020	2020
Shareholders' equity at the beginning of the year	4 595	4 335	4 335
Comprehensive income for the period	537	190	265
Share swap	-20	-18	-18
Acquisition/divestment of non-controlling interests	-27	13	13
Shareholders' contributions from minority shareholders	-	2	2
Dividend to shareholders	-18	-4	-4
Share savings program	4	1	2
SHAREHOLDERS' EQUITY AT THE END OF THE PERIOD	5 071	4 520	4 595
Of which non-controlling interests	57	66	68

CONDENSED CONSOLIDATED CASH-FLOW	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
STATEMENT, SEK M	2021	2020	2021	2020	Oct - Sep	2020
Operating activities
Cash flow from operating activities before changes in working capital, excluding
tax paid	436	406	1 252	1 045	1 701	1 494
Tax paid	-25	-57	-188	-143	-215	-170
Cash flow from operating activities
before changes in working capital	411	348	1 064	902	1 486	1 324
Cash flow from changes in working capital:
Changes in inventory	-134	-35	-26	115	-139	2
Changes in receivables	-59	-11	-350	-213	-123	15
Changes in liabilities	232	218	347	447	184	284
Increase (-)/Decrease (+) working capital	39	173	-29	350	-78	301
Cash-flow from operating
activities	450	521	1 035	1 252	1 408	1 625
Cash flow from
investing activities	-22	-36	-152	-138	-200	-186
Cash flow from
financing activities	-187	-411	-389	-1 041	-687	-1 339
CASH FLOW FOR THE PERIOD	241	74	494	73	521	100
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	684	352	420	355	423	355
Exchange-rate differences in cash and cash equivalents	0	-3	10	-5	-20	-35
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	924	423	924	423	924	420

INFORMATION ABOUT FINANCIAL INSTRUMENTS RECOGNIZED AT FAIR VALUE IN THE BALANCE SHEET

The financial instruments measured at fair value in the balance sheet are shown below. This was carried out by dividing the measurements into three levels, which are described in the 2020 Annual Report, Note 11. All of Mekonomen's financial instruments measured to fair value are included in Level 2, excluding supplementary purchase considerations, which are included in Level 3. However, current supplementary purchase considerations do not represent material amounts.

The main methods and assumptions used to determine the fair value of the financial instruments shown in the table below are described in the 2020 Annual Report, Note 11. In addition to the financial instruments included in the 2020 annual accounts, an agreement was entered into concerning cross-currency swaps during the first quarter of 2021 to hedge the currency risk of net investments in Norway. The financial instruments contained in the interim report are the same as those in the 2020 annual accounts.

CONSOLIDATED DERIVATIVE INSTRUMENTS
MEASURED AT FAIR VALUE IN	September 30	September 30
THE BALANCE SHEET, SEK M	2021	2020
FINANCIAL ASSETS
Derivatives: Cross-currency swaps	-	-
Interest-rate swaps	1	-
TOTAL	1	-
FINANCIAL LIABILITIES
Derivatives: Cross-currency swaps	3	-
Interest-rate swaps	5	15
TOTAL	7	15

GROUP´s FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORY, September 30, 2021
SEK M	Instruments measured at fair value through Income Statement	Financial assets accrued acquisition value	Financial liabilities accrued acquisition value	Total carrying amount	Fair value	Non-monetary assets & liabilities	Total Balance sheet summary
FINANCIAL ASSETS
Financial fixed assets	-	67	-	67	67	33	100
Derivative instruments 2)	1	-	-	1	1	-	1
Accounts receivable	-	1 243	-	1 243	1 243	-	1 243
Other current receivables	-	-	-	-	-	679	679
Cash and cash equivalents	-	924	-	924	924	-	924
TOTAL	1	2 234	-	2 235	2 235	712	2 947
FINANCIAL LIABILITIES
Long-term liabilities, interest-bearing 1)	-	-	3 023	3 023	3 023	-	3 023
Long-term lease liabilities	-	-	1 205	1 205	-	-	1 205
Long-term liabilities, non-interest-bearing	-	-	-	-	-	40	40
Derivative instruments 2)	7	-	-	7	7	-	7
Supplementary purchase considerations, long-term4		-	-	4	4	-	4
Current liabilities, interest-bearing	-	-	197	197	197	73	270
Current lease liabilities	-	-	461	461	-	-	461
Accounts payable	-	-	1 536	1 536	1 536	-	1 536
Other current liabilities	-	-	-	-	-	1 250	1 250
Supplementary purchase considerations, short-term4		-	-	4	4	-	4
TOTAL	16	-	6 422	6 438	4 772	1 363	7 801

1) The amount includes a liability related to share swaps SEK 20 M.

2) Derivative instruments used for hedging purposes.

QUARTERLY DATA,			2021			2020					2019
BUSINESS AREA	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1
NET SALES, SEK M 1)
FTZ	804	900	874	3 369	867	808	841	853	3 371	875	800	860	836
Inter-Team	571	555	451	1 988	457	524	490	516	2 155	524	532	582	517
MECA/Mekonomen 2)	1 382	1 516	1 460	5 363	1 369	1 320	1 342	1 332	5 558	1 379	1 355	1 452	1 372
Sørensen og Balchen	211	239	215	791	187	210	221	172	759	176	192	207	183
Central functions 2) 3)	1	1	1	1	0	0	0	0	0	0	0	0	0
GROUP	2 968	3 210	3 001	11 511	2 879	2 863	2 894	2 874	11 842	2 954	2 879	3 100	2 909
EBIT, SEK M
FTZ	89	92	96	331	76	91	80	84	299	51	69	87	93
Inter-Team	29	36	6	86	38	31	19	-1	43	20	9	15	-1
MECA/Mekonomen 2)	137	141	89	352	160	91	101	0	432	57	127	145	103
Sørensen og Balchen	46	57	44	170	34	53	60	23	121	28	30	38	24
Central functions 2) 3)	-11	-13	-11	-46	-9	-19	-10	-7	-33	-13	-5	-5	-10
Other items 4)	-34	-34	-38	-155	-38	-38	-39	-39	-157	-39	-39	-39	-39
GROUP	255	280	186	738	260	208	211	59	705	104	191	240	170
EBIT MARGIN, %
FTZ	11	10	11	10	9	11	10	10	9	6	9	10	11
Inter-Team	5	6	1	4	8	6	4	0	2	4	2	3	0
MECA/Mekonomen 2)	10	9	6	6	11	7	7	0	8	4	9	10	7
Sørensen og Balchen	22	24	20	21	18	25	27	13	16	16	16	18	13
GROUP	8	9	6	6	9	7	7	2	6	3	7	8	6
INVESTMENTS, SEK M 5)
FTZ	5	6	16	25	8	8	6	3	10	3	1	5	1
Inter-Team	3	6	6	18	7	3	1	7	13	5	5	2	1
MECA/Mekonomen	17	33	27	101	38	19	20	25	103	22	28	27	26
Sørensen og Balchen	1	2	1	6	1	1	1	3	5	0	0	1	4
Central functions 3)	2	1	1	1	1	0	0	0	0	0	0	0	0
GROUP	28	49	51	152	55	31	28	38	131	30	34	35	32

1) Net sales for each business area pertains to external customers.

2) External operations in ProMeister Solutions are recognized as of 2021 in MECA/Mekonomen. Comparative figures have been restated.

3) Central functions includes Group-wide functions that also include Mekonomen AB.

4) "Other items" includes acquisition-related items attributable to Mekonomen AB's direct acquisitions. Current acquisition-related items pertain

to amortization of acquired intangible assets relating to the acquisitions of FTZ, Inter-Team and MECA as well as Sørensen og Balchen until the second quarter of 2021.

5) Investments do not include company and business combinations and exclude leases according to IFRS 16.

REVENUE DISTRIBUTION PER COUNTRY	Jul - Sep				Jul - Sep
SEK M		2021 2020
Revenue distribution per country	Denmark Poland				Finland Norway Sweden	Total	Denmark Poland			Finland Norway Sweden		Total
FTZ	804					804	808					808
Inter-Team		571				571		524				524
MECA/Mekonomen			30	519	834	1 382			25	520	775	1 320
Sørensen og Balchen				211		211				210		210
Central functions						1						0
Total net sales, Group	2 968					2 863
Other revenue				44					36
GROUP REVENUE	3 013					2 899

Distribution of revenue per country based on the country that generates revenue for each segment.

REVENUE DISTRIBUTION PER COUNTRY	Jan - Sep					Jan - Sep
SEK M		2021					2020
Revenue distribution per country	Denmark Poland			Finland Norway Sweden		Total	Denmark Poland			Finland Norway Sweden		Total
FTZ	2 578					2 578	2 502					2 502
Inter-Team		1 576				1 576		1 530				1 530
MECA/Mekonomen			81	1 656	2 621	4 358			66	1 532	2 396	3 994
Sørensen og Balchen				666		666				604		604
Central functions						2						1
Total net sales, Group						9 180						8 631
Other revenue						154						131
GROUP REVENUE						9 334						8 763

Distribution of revenue per country based on the country that generates revenue for each segment.

QUARTERLY DATA		2021				2020					2019
SEK M	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1
Revenue	3 013	3 263	3 058	11 763	3 000	2 899	2 947	2 917	12 017	2 995	2 929	3 144	2 948
EBITDA	455	480	386	1 574	463	421	426	265	1 531	313	400	443	375
EBITDA excl. IFRS 16	330	354	264	1 052	340	287	289	136	1 008	180	268	315	245
Adjusted EBIT	290	314	224	937	287	270	281	98	874	149	231	280	214
EBIT	255	280	186	738	260	208	211	59	705	104	191	240	170
Net financial items	-30	-37	-46	-141	-13	-41	-17	-71	-150	-27	-44	-38	-41
Profit after financial items	225	243	140	596	247	167	194	-11	555	77	147	202	129
Tax	-53	-55	-32	-150	-60	-40	-46	-3	-134	-22	-34	-45	-33
Profit for the period	173	188	108	446	187	127	148	-15	421	55	113	157	96
EBITDA margin, %	15	15	13	13	15	15	14	9	13	10	14	14	13
Adjusted EBIT margin, %	10	10	7	8	10	9	10	3	7	5	8	9	7
EBIT margin, %	8	9	6	6	9	7	7	2	6	3	7	8	6
Earnings per share before and after dilution, SEK	3,02	3,24	1,85	7,67	3,29	2,18	2,49	-0,29	7,34	1,00	1,95	2,71	1,68
Shareholders' equity per share, SEK	89,6	86,7	83,7	80,4	80,4	79,1	77,2	76,7	76,4	76,4	76,6	74,5	71,0
Cash flow per share, SEK	8,0	7,2	3,2	28,9	6,6	9,2	11,9	1,1	20,3	3,6	7,5	6,3	2,8
Return on shareholders' equity, %1)	13,6	13,0	12,3	9,8	9,8	7,0	6,8	7,2	10,0	10,0	9,8	10,1	10,5
Share price at the end of the period	156,0	141,4	129,1	91,1	91,1	93,3	66,0	44,4	93,1	93,1	82,8	77,4	64,9

1) The key figures for return on shareholders' equity are calculated on a rolling 12-month basis for each quarter.

KEY FIGURES	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
	2021	2020	2021	2020	Oct - Sep	2020
Return on shareholders' equity, %1)	–	–	13,6	7,0	13,6	9,8
Return on total capital, % 1)	–	–	7,6	4,4	7,6	5,8
Return on capital employed, % 1)	–	–	9,9	5,6	9,9	7,4
Equity/assets ratio, %	38,4	35,6	38,4	35,6	38,4	37,7
Net debt, SEK M	2 275	2 964	2 275	2 964	2 275	2 673
Net debt/EBITDA excl. IFRS 16 multiple 1)	–	–	1,77	3,30	1,77	2,54
Net debt incl. IFRS 16/EBITDA, multiple 1)	–	–	2,21	3,24	2,21	2,71
Gross margin, %	46,4	45,2	45,5	44,9	45,6	45,1
EBITDA margin, %	15,1	14,5	14,2	12,7	14,5	13,4
Adjusted EBIT margin, %	9,6	9,3	8,9	7,4	9,0	8,0
EBIT margin, %	8,5	7,2	7,7	5,5	8,0	6,3
Earnings per share before and after dilution, SEK	3,02	2,18	8,12	4,38	11,42	7,67
Shareholders' equity per share, SEK	–	–	89,6	79,1	89,6	80,4
Cash flow per share, SEK	8,0	9,2	18,5	22,2	25,1	28,9
Number of outstanding shares at the end of the period 2)	55 983 372	56 323 372	55 983 372	56 323 372	55 983 372	56 323 372
Average number of shares during the period	55 983 372	56 323 372	56 072 090	56 323 372	56 085 016	56 323 372

1) Key figures for return on shareholders' equity/total capital/capital employed and net debt/EBITDA are calculated on a rolling 12-month basis for the

period January–September.

2) The total number of shares amounts to 56,416,622, of which 93,250 are own shares and 340,000 are secured through equity swap agreements at the end of the period.

					MECA/		Sørensen og
NUMBER OF BRANCHES AND		FTZ	Inter-Team		Mekonomen		Balchen		Group
WORKSHOPS		September 30	September 30		September 30		September 30		September 30
	2021	2020	2021	2020	2021	2020	2021	2020	2021	2020
Number of branches
Proprietary branches	50	51	82	79	228	229	38	37	398	396
Partner branches	–	–	2	3	49	49	28	28	79	80
Total	50	51	84	82	277	278	66	65	477	476
Number of workshops 1)
AutoMester	406	414	–	–	–	–	–	–	406	414
Hella Service Partner	313	331	–	–	–	–	–	–	313	331
Din BilPartner	151	150	–	–	–	–	–	–	151	150
CarPeople	60	45	–	–	–	–	–	–	60	45
Inter Data Service	–	–	522	450	–	–	–	–	522	450
O.K. Serwis	–	–	233	211	–	–	–	–	233	211
Mekonomen Bilverkstad	–	–	–	–	773	801	–	–	773	801
MECA Car Service	–	–	–	–	727	732	–	–	727	732
MekoPartner	–	–	–	–	192	208	–	–	192	208
Speedy	–	–	–	–	41	43	–	–	41	43
MECA Tungbil	–	–	–	–	13	–	–	–	13	–
AlltiBil	–	–	–	–	7	7	–	–	7	7
BilXtra	–	–	–	–	–	–	252	256	252	256
Total	930	940	755	661	1 753	1 791	252	256	3 690	3 648

1) MECA Tungbil has been added as a concept in the first quarter of 2021.

AVERAGE NUMBER OF EMPLOYEES	Jan - Sep	Jan - Sep
	2021	2020
FTZ	1 124	1 124
Inter-Team	1 466	1 394
MECA/Mekonomen 1)	2 162	2 100
Sørensen og Balchen	274	247
Central functions1) 2)	26	18
Total	5 053	4 883

1) External operations in ProMeister Solutions are recognized as of 2021 in MECA/Mekonomen. Comparative figures have been restated.

2) Central functions includes Group-wide functions that also include the Parent Company Mekonomen AB.

FINANCIAL REPORTS, PARENT COMPANY

CONDENSED INCOME STATEMENT FOR THE	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
PARENT COMPANY, SEK M	2021	2020	2021	2020	Oct - Sep	2020
Operating revenue	18	17	55	53	82	80
Operating expenses	-27	-27	-88	-81	-118	-111
EBIT	-9	-10	-33	-28	-36	-31
Net financial items 1)	-35	-30	414	425	498	509
Profit after financial items	-44	-40	381	397	462	478
Appropriations	-	-	-	-	59	59
Tax	9	9	30	16	-1	-15
PROFIT FOR THE PERIOD	-35	-32	412	413	521	522

1) Net financial items include dividends on participations in subsidiaries totaling SEK 530 M (474) for the nine-month period.

PARENT COMPANY STATEMENT OF	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
COMPREHENSIVE INCOME, SEK M	2021	2020	2021	2020	Oct - Sep	2020
Profit for the period	-35	-32	412	413	521	522
COMPREHENSIVE INCOME FOR THE PERIOD	-35	-32	412	413	521	522

CONDENSED BALANCE SHEET FOR THE PARENT COMPANY,	September 30	September 30	December 31
SEK M	2021	2020	2020
ASSETS
Fixed assets	9 194	9 034	9 149
Current receivables in Group companies	10	18	67
Other current receivables	75	44	79
Cash and cash equivalents	444	220	246
TOTAL ASSETS	9 722	9 316	9 541
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	6 066	5 561	5 670
Untaxed reserves	238	211	238
Provisions	4	3	3
Long-term liabilities	3 024	2 997	2 724
Current liabilities in Group companies	173	118	500
Other current liabilities	217	425	406
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	9 722	9 316	9 541

SUMMARY OF CHANGES IN EQUITY FOR THE	September 30	September 30	December 31
PARENT COMPANY, SEK M	2021	2020	2020
Shareholders' equity at the beginning of the year	5 670	5 164	5 164
Comprehensive income for the period	412	413	522
Share swap	-20	-18	-18
Share savings program	4	1	2
SHAREHOLDERS' EQUITY AT THE END OF THE PERIOD	6 066	5 561	5 670

ALTERNATIVE PERFORMANCE MEASURES

Mekonomen Group applies the Guidelines on Alternative Performance Measures issued by ESMA*. 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. Mekonomen believes that these measures provide valuable supplementary information to company management, investors and other stakeholders in evaluating the company's performance. The alternative performance measures are not always comparable with measures used by other companies since not all companies calculate these measures in the same way. These should therefore be seen as a supplement to the measures defined according to IFRS. For definitions of key figures, refer to page 22. For relevant reconciliations of the alternative performance measures that cannot be directly read in or derived from the financial statements, refer to the tables below. For historical reconciliations of alternative performance measures, refer also to supplements to the 2016–2020 Annual Reports on our website: http://www.mekonomen.com/en/alternative-performance-measures/. *The European Securities and Markets Authority.

RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES

RETURN ON SHAREHOLDERS' EQUITY	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	Oct - Sep	2020
Profit for the period (rolling 12-month basis)	655	315	655	446
– Less non-controlling interest of profit for the period (rolling 12 months)	-15	-12	-15	-15
Profit for the period excluding non-controlling interest (rolling 12 months)	640	303	640	432
– Divided by SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT COMPANY'S
SHAREHOLDERS, average over the past five quarters 1)	4 712	4 348	4 712	4 390
RETURN ON SHAREHOLDERS' EQUITY, %	13,6	7,0	13,6	9,8

1) SHAREHOLDERS' EQUITY ATTRIBUTABLE TO	2021				2020				2019
PARENT COMPANY'S SHAREHOLDERS, SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Shareholders' equity	5 071	4 905	4 788	4 595	4 520	4 410	4 375	4 335	4 347	4 228	4 034
– Less non-controlling interest of shareholders' equity	-57	-53	-75	-68	-66	-63	-53	-32	-33	-29	-32
SHAREHOLDERS' EQUITY ATTRIBUTABLE
TO PARENT COMPANY'S SHAREHOLDERS	5 014	4 852	4 713	4 527	4 454	4 346	4 322	4 303	4 313	4 199	4 002
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO
PARENT COMPANY'S SHAREHOLDERS,
average over the past five quarters	4 712	4 578	4 472	4 390	4 348	4 297	4 228	4 129	3 731	3 344	2 998

RETURN ON TOTAL CAPITAL	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	Oct - Sep	2020
Profit after financial items (rolling 12 months)	855	426	855	596
– Plus interest expenses (rolling 12 months)	119	137	119	133
Profit after financial items plus interest expenses (rolling 12 months)	974	563	974	729
– Divided by TOTAL ASSETS, average over the past five quarters 2)	12 749	12 803	12 749	12 616
RETURN ON TOTAL CAPITAL, %	7,6	4,4	7,6	5,8

2) TOTAL ASSETS	2021				2020				2019
SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Total assets	13 219	12 787	12 854	12 193	12 693	12 540	12 783	12 870	13 127	13 118	13 099
TOTAL ASSETS,
average over the past five quarters	12 749	12 613	12 613	12 616	12 803	12 888	12 999	12 616	12 264	10 798	9 296

RETURN ON CAPITAL EMPLOYED	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	Oct - Sep	2020
Profit after financial items (rolling 12 months)	855	426	855	596
– Plus interest expenses (rolling 12 months)	119	137	119	133
Profit after financial items plus interest expenses (rolling 12 months)	974	563	974	729
– Divided by CAPITAL EMPLOYED, average over the past five quarters 3)	9 827	9 972	9 827	9 839
RETURN ON CAPITAL EMPLOYED, %	9,9	5,6	9,9	7,4

3) CAPITAL EMPLOYED	2021				2020				2019
SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Total assets	13 219	12 787	12 854	12 193	12 693	12 540	12 783	12 870	13 127	13 118	13 099
– Less deferred tax liabilities	-347	-347	-332	-388	-377	-385	-382	-428	-443	-439	-465
– Less long-term liabilities, non-interest-bearing	-44	-15	-17	-16	-95	-82	-70	-20	-20	-20	-20
– Less current liabilities, non-interest-bearing	-2 791	-2 551	-2 426	-2 240	-2 627	-2 414	-2 131	-2 227	-2 453	-2 323	-2 244
CAPITAL EMPLOYED	10 037	9 873	10 081	9 549	9 594	9 658	10 201	10 195	10 211	10 337	10 370
CAPITAL EMPLOYED,
average over the past five quarters	9 827	9 751	9 817	9 839	9 972	10 120	10 263	9 856	9 480	8 292	7 066

GROSS MARGIN	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	2021	2020	Oct - Sep	2020
Net sales	2 968	2 863	9 180	8 631	12 059	11 511
– Less goods for resale	-1 591	-1 568	-5 001	-4 760	-6 559	-6 318
Total	1 377	1 295	4 179	3 871	5 501	5 193
– Divided by net sales	2 968	2 863	9 180	8 631	12 059	11 511
GROSS MARGIN, %	46,4	45,2	45,5	44,9	45,6	45,1

EARNINGS PER SHARE SEK M	Jul - Sep 2021	Jul - Sep 2020	Jan - Sep 2021	Jan - Sep 2020	12 months Oct - Sep	Full-year 2020
Profit for the period	173	127	469	260	655	446
– Less non-controlling interests' share	-4	-4	-13	-13	-15	-15
Profit for the period attributable to Parent Company's shareholders	169	123	455	247	640	432
– Divided by Average number of shares 4)
	55 983 372	56 323 372	56 072 090	56 323 372	56 085 016	56 323 372
EARNINGS PER SHARE, SEK	3,02	2,18	8,12	4,38	11,42	7,67

SHAREHOLDERS' EQUITY PER SHARE	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	Oct - Sep	2020
Shareholders' equity	5 071	4 520	5 071	4 595
– Less non-controlling interest of shareholders' equity	-57	-66	-57	-68
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT COMPANY'S SHAREHOLDERS	5 014	4 454	5 014	4 527
– Divided by number of shares at the end of the period 4)	55 983 372	56 323 372	55 983 372	56 323 372
SHAREHOLDERS' EQUITY PER SHARE, SEK	89,6	79,1	89,6	80,4

CASH FLOW PER SHARE	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2021	2020	2021	2020	Oct - Sep	2020
Cash flow from operating activities	450	521	1 035	1 252	1 408	1 625
– Divided by Average number of shares 4)	55 983 372	56 323 372	56 072 090	56 323 372	56 085 016	56 323 372
CASH FLOW PER SHARE, SEK	8,0	9,2	18,5	22,2	25,1	28,9

4) AVERAGE NUMBER OF SHARES	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
	2021	2020	2021	2020	Oct - Sep	2020
Number of shares at the end of the period	55 983 372	56 323 372	55 983 372	56 323 372	55 983 372	56 323 372
– Multiplied by the number of days that the
Number of shares at the end of the period
has remained unchanged during the period	92	92	100	273	100	365
Number of shares on another date during the period			56 123 372		56 123 372
– Multiplied by the number of days that the
Number of shares on another date has
existed during the period			173		265
Number of shares on another date during the period
– Multiplied by the number of days that the
Number of shares on another date has
existed during the period
– Total divided by the number of days during
the period	92	92	273	273	365	365
AVERAGE NUMBER OF SHARES	55 983 372	56 323 372	56 072 090	56 323 372	56 085 016	56 323 372

NET DEBT	September 30	September 30	December 31
SEK M	2021	2020	2020
Long-term liabilities, interest-bearing incl. lease liability	4 235	4 234	3 911
– Less interest-bearing long-term liabilities and provisions for
pensions, leases, derivatives and similar obligations	-1 232	-1 252	-1 202
Current liabilities, interest-bearing incl. lease liability	731	840	1 043
– Less interest-bearing current liabilities and provisions for
pensions, leases, derivatives and similar obligations	-535	-436	-659
– Less cash and cash equivalents	-924	-423	-420
NET DEBT	2 275	2 964	2 673

NET DEBT INCL. IFRS 16	September 30	September 30	December 31
SEK M	2021	2020	2020
NET DEBT	2 275	2 964	2 673
– Plus long-term lease liabilities according to IFRS 16	1 205	1 215	1 168
– Plus current lease liabilities according to IFRS 16	461	436	432
NET DEBT INCL. IFRS 16	3 941	4 615	4 273

EBITDA EXCL. IFRS 16	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
	2021	2020	2021	2020	Oct - Sep	2020
EBITDA according to income statement	455	421	1 322	1 111	1 785	1 574
– less change relating to lease expenses in accordance with IFRS 16	-125	-134	-373	-399	-497	-522
EBITDA excluding IFRS 16	330	287	949	712	1 288	1 052

FINANCIAL DEFINITIONS
	Return on shareholders' equity Profit for the period, excluding non-controlling interests, as a percentage of average shareholders' equity attributable to Parent
	Company's shareholders. Average shareholders' equity attributable to Parent Company's shareholders is calculated as shareholders' equity attributable to Parent Company's shareholders at the end of the period plus the shareholders' equity for the four immediately
	preceding quarters attributable to Parent Company's shareholders at the end of the periods divided by five.
Return on capital	Profit after financial items plus interest expenses as a percentage of average capital employed. Average
capital	employed is calculated as capital employed at the end of the period plus the capital employed for the four immediately preceding quarters divided by five.
Return on total capital	Profit after financial items plus interest expenses as a percentage of average total assets. Average
	total assets is calculated as total assets at the end of the period plus the total assets for the four immediately preceding quarters at the end of the periods divided by five.
Gross margin	Net sales less costs for goods for resale, as a percentage of net sales.
Gross profit	Revenue less cost for goods for resale.
EBIT margin	Operating profit after depreciation/amortization (EBIT) as a percentage of total revenue.
EBITA	Operating profit after depreciation according to plan but before amortization and impairment of intangible fixed assets.
EBITDA	Operating profit before depreciation/amortization and impairment of tangible and intangible fixed assets.
EBITDA excl. IFRS 16	Operating profit before depreciation/amortization and impairment of tangible and intangible fixed assets excl. effects of IFRS 16.
EBITDA margin	EBITDA as a percentage of total revenue.
	Shareholders' equity per share Shareholders' equity excluding non-controlling interests, in relation to the number of shares at the end of the period.
Adjusted EBIT	EBIT adjusted for items affecting comparability (see definition under company-specific terms and definitions) and material acquisition-related items. Current acquisition-related items pertain to the amortization of acquired intangible assets relating to the acquisitions of FTZ, Inter-Team, MECA and Sørensen og Balchen.
Adjusted EBIT margin	Adjusted EBIT as a percentage of total revenue.
Cash flow per share	Cash flow from operating activities in relation to the average number of shares. Average number of shares
	is calculated as the number of shares at the end of the period multiplied by the number of days that this number existed during the period, plus any other number of shares during the period multiplied by the number of days that this or these numbers existed during the period, divided by the number of days during the period.
Cash and cash equivalents	Cash and cash equivalents comprise cash funds held at financial institutions and current liquid investments with a term from
	the date of acquisition of less than three months, which are exposed to only an insignificant risk of fluctuations in value. Cash and cash equivalents are recognized at nominal amounts.
Net debt	Short-term and long-term interest-bearing liabilities for borrowing, i.e. excluding short and long-term lease liabilities, pensions, derivatives and similar obligations, less cash and cash equivalents.
Net debt incl. IFRS 16	Short-term and long-term interest-bearing liabilities for borrowing, and long-term and current lease liabilities according to IFRS 16, i.e. excluding pensions, derivatives and similar obligations, less cash and cash equivalents.
Organic sales	Net sales adjusted for the number of workdays, acquisitions/divestments and currency effects.
Organic growth	Change in net sales adjusted for the number of workdays, acquisitions/divestments and currency effects.
Earnings per share	Profit for the period excluding non-controlling interests, in relation to the average number of shares. Average number of
	shares is calculated as the number of shares at the end of the period multiplied by the number of days that this number
	existed during the period, plus any other number of shares during the period multiplied by the number of days that this or these numbers existed during the period, divided by the number of days during the period.
Equity/assets ratio	Shareholders' equity including non-controlling interests as a percentage of total assets.
Capital employed	Total assets less non-interest-bearing liabilities and provisions, including deferred tax liabilities.

COMPANY-SPECIFIC TERMS AND DEFINITIONS

Business area	Reportable segment
Affiliated workshops	Workshops that are not proprietary owned, but conduct business under the Group's brands/workshop concepts
B2B	Sales of goods and services between companies (business-to-business).
B2C	Sales of goods and services between companies and consumers (business-to-consumer).
DAB products	Car accessories with solutions for receiving digital radio broadcasts. DAB is an abbreviation for Digital Audio Broadcasting.
Proprietary branches	Branches with operations in subsidiaries, directly or indirectly majority-owned by Mekonomen AB.
Proprietary workshops	Workshops with operations in subsidiaries, directly or indirectly majority-owned by Mekonomen AB.
OBP	Proprietary products, such as Mekonomen Group's proprietary products ProMeister, Carwise, Kraft, Sakura, Vehcare and ForumLine.
Fleet operations	Mekonomen Group's offering to business customers comprising service and repairs of cars, sales of spare parts and
	accessories, and tire storage.
Sales to Customer Group Affiliated workshops	Sales to affiliated workshops and sales to proprietary workshops.
Sales to Customer Group	Cash sales from proprietary branches to customer groups other than Affiliated Workshops and Other B2B Customers, as well as
Consumer	the Group's e-commerce sales to consumers.
Sales to Customer Group Partner branches	Sales to partner branches.
Sales to Customer Group	Sales to business customers that are not affiliated with any of Mekonomen Group's concepts, including sales in
Other B2B Customers	Fleet operations.
Items affecting comparability	Events or transactions with significant effects, which are relevant for understanding the financial performance when comparing income for the current period with previous periods, including restructuring programs, expenses relating to major legal disputes, impairments and gains and losses from the acquisitions or disposals of
Concept workshops	businesses, subsidiaries, associates and joint ventures or items of a similar nature. Affiliated workshops.
LTIP	Long-term Incentive Program.
Mobility	The ability to move from A to B is a fundamental freedom and a driving force in society. Demand is timeless, and independent of the type of vehicle used.
ProMeister	Mekonomen Group's proprietary brand for high-quality spare parts with five-year guarantees, and the name of the services we offer affiliated workshops.
Spare parts for cars	Parts that are necessary for a car to function.
Partner branches Accessories for cars	Branches that are not proprietary, but conduct business under the Group's brands/branch concepts. Products that are not necessary for a car to function, but enhance the experience or extend use of the car, such as car-care products, roof boxes, car child seats, etc.
TSR	Total shareholders return
Currency effects in the balance sheet	Impact of currency with respect to realized and unrealized revaluations of foreign current non-interest-bearing receivables and liabilities.
Currency transaction effects	Impact of currency with respect to internal sales from Bileko Car Parts AB, and from MECA CarParts AB to each country.
Currency translation effects	Impact of currency from translation of earnings from foreign subsidiaries to SEK.
Other operating revenue	Mainly comprises rental income, marketing subsidies and exchange-rate gains.

SE-104 32 Stockholm, Sweden

Postal address: Visiting address: www.mekonomen.com Box 19542 Solnavägen 4, 11th floor, Stockholm, Sweden

Tel: +46 (0)8 464 00 00 E-mail: ir@mekonomen.se