Bergman & Beving

Quarterly Report • Jul 15, 2015

B&B TOOLS provides the industrial and construction sectors in northern Europe with industrial consumables, industrial components and related services. The Group has annual revenue of approximately SEK 7.9 billion and approximately 2,700 employees.

INTERIM REPORT – 3 MONTHS 1 April-30 June 2015

• Revenue rose by 1 percent to MSEK 2,054 (2,031).
• Operating profit rose by 23 percent to MSEK 129 (105) and the operating margin was 6.3 percent (5.2).
• Profit after net financial items rose by 35 percent to MSEK 124 (92).
• Profit after taxes rose by 36 percent to MSEK 94 (69).
• Earnings per share increased to SEK 3.35 (2.45).
• Cash flow from operating activities amounted to MSEK 164 (94) and cash flow per share for the most recent 12-month period was SEK 14.25 (9.70).
• The return on equity for the most recent 12-month period was 14 percent (11).
• The equity/assets ratio at the end of the reporting period was 49 percent (45).
• After the end of the reporting period: Acquisition of electromechanical services company. In early July 2015, the subsidiary Momentum Industrial signed an agreement to acquire all shares in Carl A Nilsson AB, a comprehensive electromechanical services company in southern Sweden, with annual revenue of approximately MSEK 20. Closing is scheduled for September 2015.
• The 2015 Annual General Meeting will be held in Stockholm on 20 August 2015. The Board proposes a dividend of SEK 4.00 (3.50) per share.

	QUARTER			FULL-YEAR
		3 MONTHS ENDING 30 JUN			12 MONTHS ENDING 30 JUN
	2015	2014	Change	2015	2014	Change
Revenue, MSEK	2,054	2,031	+1%	7,926	7,714	+3%
Operating profit, MSEK	129	105	+23%	474	380	+25%
Profit after net financial items, MSEK	124	92	+35%	440	328	+34%
Net profit for the period (after taxes), MSEK	94	69	+36%	331	246	+35%
Earnings per share, SEK	3.35	2.45	+37%	11.80	8.75	+35%
Operating margin	6.3%	5.2%		6.0%	4.9%
Profit margin	6.0%	4.5%		5.6%	4.3%
Return on equity				14%	11%
Equity per share, SEK	88.35	80.95	+9%
Equity/assets ratio	49%	45%
Number of employees at the end of the period	2,699	2,663	+1%

B&B TOOLS IN SUMMARY

1 APRIL – 30 JUNE 2015

PRESIDENT'S STATEMENT

The overall business situation was relatively stable during the first quarter of the financial year, but the market fragmentation remains – whereby parts of our operations are affected by more difficult market conditions. The decentralised profit responsibility means, for example, that local measures are introduced where necessary.

Operating profit for the first quarter was impacted by non-recurring items in both 2015 (MSEK +15) and 2014 (MSEK –6). We disposed of one property in Finland and our last property in Sweden, for example. These disposals had a positive impact of MSEK 25 on cash flow. Overall, we generated a strong cash flow during the quarter.

In early July (after the end of the reporting period), Momentum signed an agreement to acquire Carl A Nilsson, a successful electromechanical services company in southern Sweden. The company is well established in an attractive market. This is our first corporate acquisition in a couple of years and we are continuously evaluating acquisition opportunities in order to strengthen our offering and profitability.

Our priorities for the remainder of the financial year will be to improve P/WC by focusing on volume, gross margins and inventories. We will therefore continue to make customer proximity and sales a top priority, and during the quarter, we both extended and signed new agreements with customers in all of our main markets.

Stockholm, July 2015

Ulf Lilius President & CEO

PROFIT AND REVENUE

First quarter (1 April-30 June 2015)

Revenue for the first quarter rose by 1 percent to MSEK 2,054 (2,031). Exchange-rate translation effects had an impact of MSEK +5 (+6) on revenue. Revenue for comparable units, measured in local currency and adjusted for the number of trading days, remained unchanged during the quarter.

During the quarter, operating profit rose by 23 percent to MSEK 129 (105). Exchange-rate translation effects had an impact of MSEK +3 (0) on operating profit, net. Operating profit was charged with depreciation and impairment losses of MSEK –6 (–6) on tangible non-current assets and amortisation and impairment losses of MSEK –1 (–1) on intangible non-current assets. The operating margin was 6.3 percent (5.2).

Profit after net financial items amounted to MSEK 124 (92) and profit after taxes to MSEK 94 (69) for the quarter, corresponding to earnings per share of SEK 3.35 (2.45).

OPERATING PROFIT AND REVENUE

OPERATIONS

The B&B TOOLS Group comprises two operating segments – TOOLS / Momentum and Product Companies – as well as shared administrative, logistics and IT functions. The Group's operating segments currently include nine operating areas in total.

B&B TOOLS GROUP
	QUARTER		FULL-YEAR
		3 MONTHS ENDING 30 JUN	ROLLING	2014/
MSEK	2015	2014	12 MOS	2015
Revenue	2,054	2,031	7,926	7,903
Operating profit	129	105	474	450
Operating margin	6.3%	5.2%	6.0%	5.7%

TOOLS / Momentum – sales directly to end customers

TOOLS and Momentum are the B&B TOOLS Group's market channels for industrial consumables and industrial components for Nordic industry. Via TOOLS and Momentum, the Group has a presence in some 200 locations in Sweden, Norway and Finland.

TOOLS / MOMENTUM
	QUARTER						FULL-YEAR
	REVENUE		OPERATING PROFIT			OPERATING MARGIN	REVENUE		OPERATING PROFIT		OPERATING MARGIN
MSEK	2015	APR-JUN 2014	APR-JUN 2015	2014	2015	APR-JUN 2014	ROLLING 12 MOS	2014/ 2015	ROLLING 12 MOS	2014/ 2015	ROLLING 12 MOS	2014/ 2015
TOOLS Sweden	512	492	12	0	2.3%	0.0%	1,923	1,903	26	14	1.4%	0.7%
TOOLS Norway	363	403	0	17	0.0%	4.2%	1,522	1,562	41	58	2.7%	3.7%
TOOLS Finland	206	190	3	1	1.5%	0.5%	771	755	5	3	0.6%	0.4%
Momentum	246	241	25	29	10.2%	12.0%	957	952	107	111	11.2%	11.7%
Eliminations	–13	–13	0	0	–	–	–52	–52	1	1	–	–
TOTAL	1,314	1,313	40	47	3.0%	3.6%	5,121	5,120	180	187	3.5%	3.7%

Revenue for comparable units in TOOLS / Momentum remained largely unchanged1 during the first quarter.

Revenue for TOOLS Sweden increased by approximately 2 percent¹ during the quarter. Activities implemented to increase efficiency continued to yield results, and the unit reported lower working capital for the period. Revenue for TOOLS Finland also increased, by approximately 5 percent¹ . Earnings showed a positive trend due to continued efficiency enhancements and increased market shares.

Industrial activity in Norway, particularly in the offshore sector, remained cautious during the first quarter, while demand in the construction and civil engineering industry as well as the defence sector showed a positive trend. Revenue for TOOLS Norway declined by a total of –8 percent¹ . The business continues its activities to adjust cost levels, increase market shares and raise gross margins. Momentum posted an operating margin of just over 10 percent for the quarter, with unchanged revenue¹ in a continued cautious industrial market. Momentum's investments in service workshops in Sweden continued to develop favourably.

Product Companies – sales via resellers

The Group's five product companies – Luna, Skydda, ESSVE, Grunda and Gigant – supply TOOLS and other market channels with industrial consumables and related services.

PRODUCT COMPANIES

	QUARTER						FULL-YEAR
	REVENUE		OPERATING PROFIT			OPERATING MARGIN	REVENUE		OPERATING PROFIT		OPERATING MARGIN
MSEK	2015	APR-JUN 2014	2015	APR-JUN 2014	2015	APR-JUN 2014	ROLLING 12 MOS	2014/ 2015	ROLLING 12 MOS	2014/ 2015	ROLLING 12 MOS	2014/ 2015
Luna	274	269	22	21	8.0%	7.8%	1,106	1,101	103	102	9.3%	9.3%
Skydda	336	326	25	27	7.4%	8.3%	1,240	1,230	99	101	8.0%	8.2%
ESSVE	228	215	27	23	11.8%	10.7%	815	802	67	63	8.2%	7.9%
Grunda	120	122	1	1	0.8%	0.8%	499	501	15	15	3.0%	3.0%
Gigant	95	100	1	3	1.1%	3.0%	402	407	8	10	2.0%	2.5%
Eliminations	–1	–3	0	–1	–	–	–14	–16	1	0	–	–
TOTAL	1,052	1,029	76	74	7.2%	7.2%	4,048	4,025	293	291	7.2%	7.2%

¹ Measured in local currency and adjusted for the number of trading days this year compared to the previous year.

Revenue for comparable units for the Group's product companies rose by 1 percent¹ in the first quarter compared with the year-earlier period.

Revenue for Luna remained unchanged¹ during the quarter with continuously growing sales of proprietary product brands to international customers, and strong growth primarily attributable to construction materials customers. Revenue for Skydda rose by 2 percent¹ during the quarter, with several new customer agreements. The earnings performance was negatively impacted by the exchange rate trend for the USD. Revenue for ESSVE rose by 5 percent¹ and operating profit by 17 percent during the quarter – and the core product range for chain customers in the area of construction materials in Norway and Sweden continued to show favourable growth.

Revenue declined for both Grunda and Gigant by approximately –2 and –5 percent respectively during the quarter1 , mainly attributable to TOOLS in Norway. The businesses are continuously taking measures to enhance their efficiency and to strengthen their positions in the market.

Group-wide and eliminations

Operating profit for "Group-wide" totalled MSEK 9 (–13) for the reporting period. Capital gains from the sale of properties during the period had a positive effect of approximately MSEK 3, net, on operating profit. The conveyance of a previously concluded pension obligation had an impact of MSEK 12 on profit before tax – read more under "Transactions with related parties" below.

The Parent Company's revenue amounted to MSEK 11 (7) and profit after net financial items to MSEK 27 (16). These results do not include any Group contributions, intra-Group dividends or other corresponding items.

Eliminations for intra-Group inventory gains had a positive impact of MSEK 4 (–3) on earnings during the period.

CORPORATE ACQUISITIONS

No corporate acquisitions were implemented during the reporting period.

In July 2015, after the end of the reporting period, Momentum signed an agreement to acquire all shares in Carl A Nilsson AB ("CAN"). CAN is a comprehensive service company specialising in electromechanical services and sales for the industrial sector in southern Sweden. CAN generates annual revenue of approximately MSEK 20 and has 13 employees. Closing is scheduled for 1 September 2015, and the acquisition is expected to have a marginally positive impact on B&B TOOLS' earnings per share during the current financial year.

PROFITABILITY, CASH FLOW AND FINANCIAL POSITION

The Group's profitability, measured as the return on working capital, P/WC (operating profit in relation to working capital2 ), increased to 26 percent (22) for the most recent 12-month period. The return on capital employed for the corresponding period was 14 percent (11), while return on equity was 14 percent (11).

Cash flow from operating activities before changes in working capital for the reporting period totalled MSEK 120 (103). Funds tied up in working capital decreased by MSEK 44. During the period, the Group's inventories decreased by MSEK 13, while operating receivables increased by MSEK 20. Operating liabilities rose by MSEK 51. Accordingly, cash flow from operating activities for the period amounted to MSEK 164 (94).

Cash flow for the period was also impacted in a net amount of MSEK –15 (–10) pertaining to the acquisition and sale of noncurrent assets, and a net amount of MSEK +25 (+77) pertaining to the acquisition and sale of subsidiaries and other business units. During the reporting period, an additional two Group properties in Sweden and Finland were disposed of, which generated approximately MSEK 25 in cash flow and had a marginally positive impact on earnings per share.

At the end of the reporting period, the Group's operational net loan liability amounted to MSEK 362 (658). Interest-bearing liabilities totalled MSEK 420 (729), excluding expensed pension obligations of MSEK 545 (469). Liabilities to credit institutions amounted to MSEK 366 (661), net. Cash and cash equivalents, including unutilised granted credit facilities, totalled MSEK 734 (576).

At the end of the reporting period, the equity/assets ratio was 49 percent, compared with 45 percent at the beginning of the financial year.

Equity per share totalled SEK 88.35 at the end of the reporting period, compared with SEK 82.80 at the beginning of the financial year. Equity per share after dilution totalled SEK 88.35 at the end of the reporting period, compared with SEK 82.65 at the beginning of the financial year.

¹ Measured in local currency and adjusted for the number of trading days this year compared to the previous year.

² Working capital = Inventories + Accounts receivable – Accounts payable.

EMPLOYEES

At the end of the reporting period, the number of employees in the Group amounted to 2,699, compared with 2,682 at the beginning of the financial year.

SHARE STRUCTURE AND REPURCHASE OF OWN SHARES

At the end of the reporting period, share capital totalled MSEK 56.9. The distribution by class of share is as follows:

SHARE STRUCTURE

CLASS OF SHARE	AS OF 30 JUNE 2015
Class A shares	1,063,780
Class B shares	27,372,636
Total number of shares before repurchasing	28,436,416
Less: Repurchased Class B shares	–340,000

As of 31 March 2015, the number of Class B shares held in treasury totalled 340,000. During the reporting period, there were no changes to the holding of treasury shares. Accordingly, the number of Class B shares held in treasury as of 30 June 2015 amounted to 340,000, corresponding to 1.2 percent of the total number of shares and 0.9 percent of the total number of votes. Of the total number of shares held in treasury, 338,000 are reserved to cover the Company's obligations in the two call option programmes issued to senior management in the Group in September 2013 and September 2014, respectively.

The redemption price for call options issued in connection with the share-based incentive programme for 2013 is SEK 101.90 and the redemption period is from 12 September 2016 until 9 June 2017, inclusive. The redemption price for call options issued in connection with the share-based incentive programme for 2014 is SEK 176.50 and the redemption period is from 11 September 2017 until 8 June 2018, inclusive. The share price as of 30 June 2015 was SEK 118.50. For more information about the dilution effect of call options issued, refer to page 10.

There have been no changes in the holding of treasury shares after the end of the reporting period.

TRANSACTIONS WITH RELATED PARTIES

During the first quarter, a previously concluded pension obligation for the benefit of a former CEO, who is now Chairman of the Board of B&B TOOLS AB, was conveyed to one of the Chairman's related companies. The conveyance was made on market terms. The transaction was also subject to review by the Company's auditors as part of the audit planning for the current financial year. The conveyance had a positive impact of approximately MSEK 12 on the Group's profit before taxes, and approximately MSEK 8 on profit after taxes.

No other transactions having a material impact on the Group's position or earnings have occurred between B&B TOOLS and its related parties during the quarter.

RISKS AND UNCERTAINTIES

During the reporting period, no significant changes occurred with respect to risks and uncertainties, for either the Group or the Parent Company. For information about the Group's risks and uncertainties, refer to page 29 of B&B TOOLS' Annual Report for 2014/2015.

ACCOUNTING POLICIES

The Interim Report for the Group was prepared in accordance with IFRS and by applying IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and the Swedish Securities Market Act. The Interim Report for the Parent Company was prepared in accordance with the Swedish Annual Accounts Act and the Swedish Securities Market Act, which conforms to the provisions detailed in RFR 2 Accounting for Legal Entities.

The same accounting policies and bases of judgement as in the Annual Report for 2014/2015 have been applied.

EVENTS AFTER THE END OF THE REPORTING PERIOD

In July 2015, after the end of the reporting period, Momentum signed an agreement to acquire all shares in Carl A Nilsson AB. Refer to the "Corporate acquisitions" section above. No other significant events affecting the Group have occurred after the end of the reporting period.

Stockholm, 15 July 2015

Ulf Lilius President & Chief Executive Officer

This report has not been subject to special review by the Company's auditors.

Contact information

Ulf Lilius, President & CEO, Tel: +46 10 454 77 00 Mats Karlqvist, Head of Investor Relations, Tel: +46 70 660 31 32

Comprehensive contact information for B&B TOOLS and forthcoming information dates are presented on page 12.

This document is in all respects a translation of the Swedish original Interim Report. In the event of any differences between this translation and the Swedish original, the latter shall prevail.

REPORTING BY OPERATING SEGMENT

REVENUE BY OPERATING SEGMENT

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
	APR-JUN		ROLLING	2014/
MSEK	2015	2014	12 MOS	2015
TOOLS / Momentum	1,314	1,313	5,121	5,120
Product Companies	1,052	1,029	4,048	4,025
Group-wide	139	166	591	618
Eliminations	–451	–477	–1,834	–1,860
The B&B TOOLS Group	2,054	2,031	7,926	7,903

REVENUE BY QUARTER	2015/2016				2014/2015
MSEK	Q1	Q4	Q3	Q2	Q1
TOOLS / Momentum	1,314	1,281	1,332	1,194	1,313
Product Companies	1,052	1,028	1,008	960	1,029
Group-wide	139	145	153	154	166
Eliminations	–451	–460	–466	–457	–477
The B&B TOOLS Group	2,054	1,994	2,027	1,851	2,031

OPERATING PROFIT BY OPERATING SEGMENT

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
MSEK	APR-JUN 2015	2014	ROLLING 12 MOS	2014/ 2015
TOOLS / Momentum	40	47	180	187
Product Companies	76	74	293	291
Group-wide	9	–13	–4	–26
Eliminations	4	–3	5	–2
The B&B TOOLS Group	129	105	474	450

OPERATING PROFIT BY QUARTER MSEK	2015/2016 Q1	Q4	Q3	Q2	2014/2015 Q1
TOOLS / Momentum	40	41	41	58	47
Product Companies	76	78	59	80	74
Group-wide	9	–8	0	–5	–13
Eliminations	4	0	4	–3	–3
The B&B TOOLS Group	129	111	104	130	105

GROUP SUMMARY

INCOME STATEMENT

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
MSEK	APR-JUN 2015	2014	ROLLING 12 MOS	2014/ 2015
Revenue	2,054	2,031	7,926	7,903
Shares in profit of associated companies	0	0	0	0
Other operating income	10	2	56	48
Total operating income	2,064	2,033	7,982	7,951
Goods for resale	–1,213	–1,193	–4,680	–4,660
Personnel costs	–437	–439	–1,673	–1,675
Depreciation, amortisation, impairment losses and reversal of impairment losses	–7	–7	–28	–28
Other operating expenses	–278	–289	–1,127	–1,138
Total operating expenses	–1,935	–1,928	–7,508	–7,501
Operating profit	129	105	474	450
Financial income and expenses	–5	–13	–34	–42
Profit after net financial items	124	92	440	408
Taxes	–30	–23	–109	–102
Net profit for the period	94	69	331	306
Of which, attributable to: Parent Company shareholders	94	69	331	306
Earnings per share, SEK – Before dilution	3.35	2.45	11.80	10.90
– After dilution	3.35	2.45	11.75	10.85

STATEMENT OF COMPREHENSIVE INCOME

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
	APR-JUN		ROLLING	2014/
MSEK	2015	2014	12 MOS	2015
Net profit for the period	94	69	331	306
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Components that will not be reclassified to net profit for the year
Remeasurement of defined-benefit pension plans	90	–18	–62	–170
Tax attributable to components that will not be reclassified	–20	4	13	37
	70	–14	–49	–133
Components that will be reclassified to net profit for the year
Translation differences	–12	15	8	35
Effects of hedge accounting	7	1	20	14
Tax attributable to components that will be reclassified	–3	0	–6	–3
	–8	16	22	46
Other comprehensive income for the period	62	2	–27	–87
Comprehensive income for the period	156	71	304	219
Of which, attributable to: Parent Company shareholders	156	71	304	219

BALANCE SHEET

MSEK	30 JUN 2015	30 JUN 2014	31 MAR 2015
ASSETS
Intangible non-current assets	1,804	1,797	1,803
Tangible non-current assets	96	126	113
Financial non-current assets, pension funds	2	2	2
Financial non-current assets, other interest-bearing	4	3	3
Shares in associated companies	11	11	11
Deferred tax assets	116	107	122
Inventories	1,506	1,454	1,525
Accounts receivable	1,256	1,241	1,296
Other current receivables	233	241	197
Cash and cash equivalents	54	68	57
Total assets	5,082	5,050	5,129
EQUITY AND LIABILITIES
Equity	2,482	2,274	2,326
Non-current interest-bearing liabilities	365	600	365
Provisions for pensions	545	469	628
Other non-current liabilities and provisions	95	77	73
Current interest-bearing liabilities	55	129	225
Accounts payable	858	855	859
Other current liabilities	682	646	653
Total equity and liabilities	5,082	5,050	5,129
Operational net loan liability *	362	658	530

* Interest-bearing current and non-current liabilities, excluding net pension provisions, less cash and cash equivalents and interest-bearing receivables.

STATEMENT OF CHANGES IN EQUITY

MSEK	30 JUN 2015	30 JUN 2014	31 MAR 2015
Opening equity	2,326	2,203	2,203
Dividend, Parent Company shareholders	–	–	–98
Sale of call options	–	–	2
Comprehensive income for the period attributable to:
Parent Company shareholders	156	71	219
Closing equity	2,482	2,274	2,326

CASH-FLOW STATEMENT

	QUARTER (3 MOS)			FULL-YEAR (12 MOS)
MSEK	APR-JUN 2015	2014	ROLLING 12 MOS	2014/ 2015
Operating activities before changes in working capital	120	103	401	384
Changes in working capital	44	–9	–1	–54
Cash flow from operating activities	164	94	400	330
Acquisition of intangible and tangible non-current assets	–17	–10	–48	–41
Sales of intangible and tangible non-current assets	2	0	3	1
Acquisition of subsidiaries and other business units	–	–	–3	–3
Sales of subsidiaries and other business units	25	77	50	102
Cash flow before financing	174	161	402	389
Financing activities	–175	–149	–421	–395
Cash flow for the period	–1	12	–19	–6
Cash and cash equivalents at the beginning of the period	57	53	68	53
Exchange-rate differences in cash and cash equivalents	–2	3	5	10
Cash and cash equivalents at the end of the period	54	68	54	57

B&B TOOLS measures financial instruments at fair value or cost in the balance sheet depending on their classification. In addition to items in the financial net debt, financial instruments also include accounts receivable and accounts payable. According to IFRS 7, financial instruments measured at fair value in the balance sheet are included in level 2 of the fair value hierarchy. The carrying amounts for financial assets and liabilities correspond to fair value in all material respects.

OPERATING SEGMENTS

		EXTERNAL REVENUE APR-JUN	REVENUE FROM INTERNAL CUSTOMERS APR-JUN		TOTAL REVENUE APR-JUN		OPERATING PROFIT APR-JUN
MSEK	2015	2014	2015	2014	2015	2014	2015	2014
TOOLS / Momentum	1,313	1,312	1	1	1,314	1,313	40	47
Product Companies	738	717	314	312	1,052	1,029	76	74
Total operating segment	2,051	2,029	315	313	2,366	2,342	116	121
Group-wide	3	2	136	164	139	166	9	–13
Eliminations	–	–	–451	–477	–451	–477	4	–3
The B&B TOOLS Group	2,054	2,031	0	0	2,054	2,031	129	105

The Group's operating segments comprise TOOLS / Momentum (with four operating areas) and the Group's Product Companies (with five operating areas). The operating segments are consolidations of the operational organisation, as used by Group management and the Board of Directors to monitor operations.

TOOLS/Momentum comprises the Group's reseller operations in Sweden, Norway and Finland (which operate within the framework of TOOLS) and Momentum, which together form the Group's market channels for industrial consumables and industrial components for Nordic industry. The Group's Product Companies conduct operations in various product and application areas (tools & machinery, personal protective equipment, fastening elements, consumables and work environment) and provide TOOLS and other market channels with industrial consumables and related services. Group-wide includes the Group's management, accounting, support functions, infrastructure operations and property management. The support functions include HR, internal communications, IR and legal affairs. The infrastructure operations comprise IT and Supply Chain.

Intra-Group pricing between the operating segments occurs on market terms. There are no assets in the operating segments that are affected by material changes compared with the most recent Annual Report. The accounting policies are the same as those applied in the consolidated financial statements.

KEY PER-SHARE DATA1

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
SEK	APR-JUN 2015	2014	ROLLING 12 MOS	2014/ 2015
Earnings before dilution	3.35	2.45	11.80	10.90
Earnings after dilution	3.35	2.45	11.75	10.85
Equity, at the end of the period			88.35	82.80
Equity after dilution, at the end of the period			88.35	82.65
NUMBER OF SHARES OUTSTANDING IN THOUSANDS
Number of shares outstanding before dilution	28,096	28,096	28,096	28,096
Weighted number of shares outstanding before dilution	28,096	28,096	28,096	28,096
Weighted number of shares outstanding after dilution	28,135	28,130	28,145	28,144

¹ Dilution effect based on the issued and outstanding call options issued on repurchased Class B shares as of 30 June 2015.

3 months 0.1% Rolling 12 months 0.2% 2014/2015 0.2%

PARENT COMPANY SUMMARY

INCOME STATEMENT

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
	APR-JUN		ROLLING	2014/
MSEK	2015	2014	12 MOS	2015
Revenue	11	7	43	39
Other operating income	0	1	–1	–
Total operating income	11	8	42	39
Operating expenses	0	–10	–37	–47
Operating profit	11	–2	5	–8
Financial income and expenses	16	18	243	245
Profit after net financial items	27	16	248	237
Appropriations	–	–	125	125
Profit before taxes	27	16	373	362
Taxes	–7	–4	–45	–42
Net profit for the period	20	12	328	320

STATEMENT OF COMPREHENSIVE INCOME

	QUARTER (3 MOS)		FULL-YEAR (12 MOS)
MSEK	APR-JUN 2015	2014	ROLLING 12 MOS	2014/ 2015
Net profit for the period	20	12	328	320
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Effects of hedge accounting	7	1	20	14
Taxes attributable to other comprehensive income	–3	0	–6	–3
Other comprehensive income for the period	4	1	14	11
Comprehensive income for the period	24	13	342	331

BALANCE SHEET

MSEK	30 JUN 2015	30 JUN 2014	31 MAR 2015
ASSETS
Intangible non-current assets	–	0	–
Tangible non-current assets	1	2	1
Financial non-current assets	3,621	3,634	3,653
Current receivables	185	116	390
Cash and cash equivalents	0	0	0
Total assets	3,807	3,752	4,044
EQUITY, PROVISIONS AND LIABILITIES
Equity	1,930	1,684	1,906
Untaxed reserves	206	192	206
Provisions	49	48	47
Non-current liabilities	456	800	456
Current liabilities	1,166	1,028	1,429
Total equity, provisions and liabilities	3,807	3,752	4,044

COMPILATION OF KEY FINANCIAL RATIOS

KEY FINANCIAL RATIOS

	12 MONTHS ENDING
	30 JUN 2015	31 MAR 2015	31 MAR 2014	31 MAR 2013
Revenue, MSEK	7,926	7,903	7,648	7,666
Operating profit, MSEK	474	450	340	289
Profit after net financial items, MSEK	440	408	286	216
Profit for the period, MSEK	331	306	214	222
Operating margin	6.0%	5.7%	4.4%	3.8%
Profit margin	5.6%	5.2%	3.7%	2.8%
Return on capital employed	14%	13%	10%	8%
Return on equity	14%	14%	10%	11%
P/WC (Operating profit/Working capital*)	26%	25%	20%	15%
Operational net loan liability (closing balance), MSEK	362	530	819	914
Equity (closing balance), MSEK	2,482	2,326	2,203	2,065
Equity/assets ratio	49%	45%	43%	39%
Operational net debt/equity ratio	0.15	0.23	0.37	0.44
Number of employees at the end of the period	2,699	2,682	2,655	2,780

* Working capital = Inventories + Accounts Receivable – Accounts Payable.

KEY PER-SHARE DATA

	12 MONTHS ENDING
	30 JUN 2015	31 MAR 2015	31 MAR 2014	31 MAR 2013
Earnings, SEK	11.80	10.90	7.60	7.90
Earnings after dilution, SEK	11.75	10.85	7.60	7.90
Cash flow from operating activities, SEK	14.25	11.75	7.45	9.30
Equity, SEK	88.35	82.80	78.40	73.50
Share price, SEK	118.50	141.00	119.00	85.00

Dates for forthcoming financial information

The Annual Report for the 2014/2015 financial year was published on 2 July 2015 and distributed to those shareholders who so have requested in mid July 2015. The Annual Report is also available from the Company's offices and the website.

The Interim Report (6 months) for 1 April – 30 September 2015 will be presented on 6 November 2015. The Interim Report (9 months) for 1 April – 31 December 2015 will be presented on 8 February 2016. The Financial Report 2015/16 (12 months) for 1 April 2015 – 31 March 2016 will be presented on 11 May 2016.

B&B TOOLS AB's 2015 Annual General Meeting will be held on Thursday, 20 August 2015, at 4:30 p.m. at IVA's Conference Centre, Grev Turegatan 16, Stockholm, Sweden. The notice of the Annual General Meeting will be published tomorrow, 16 July 2015.

Visit www.bbtools.com to order reports and press releases.

The information in this report is such that it shall be disclosed by B&B TOOLS in accordance with the Swedish Securities Market Act, the Swedish Financial Instruments Trading Act or requirements imposed in the Rulebook for Issuers on Nasdaq Stockholm. The information was submitted for publication on 15 July 2015 at 7:45 a.m.

B&B TOOLS AB (publ)