Bergman & Beving

Annual Report • Feb 16, 2011

Interim Report 1 April – 31 December 2010 (9 months)

Reporting period (1 April-31 December 2010)

• Revenue totalled MSEK 5,927 (5,806).
• Operating profit increased by 37 percent to MSEK 273 (199).
• Profit after net financial items amounted to MSEK 224 (148).
• Profit after taxes increased by 53 percent to MSEK 161 (105).
• Earnings per share amounted to SEK 5.75 (3.70).
• Return on equity increased to 11 percent (5 percent).

Third quarter (1 October-31 December 2010)

• Revenue for comparable units, measured in local currency, increased by 10 percent during the third quarter of the financial year.
• Robust sales development for TOOLS in Finland (+20 percent) and in Sweden (+14 percent), measured in local currency. The Norwegian market recovered during the quarter and shows virtually unchanged sales compared with the year-earlier period, measured in local currency.
• Operating profit increased by 41 percent to MSEK 113 (80).

		3 months ending			9 months ending			12 months ending
	31 Dec	31 Dec		31 Dec	31 Dec		31 Dec	31 Dec
	2010	2009	Change	2010	2009	Change	2010	2009	Change
Revenue, MSEK	2,105	1,985	+6%	5,927	5,806	+2%	7,769	7,848	–1%
Operating profit, MSEK	113	80	+41%	273	199	+37%	335	220	+52%
Profit after net financial
items, MSEK	96	63	+52%	224	148	+51%	269	130	+107%
Profit for the period, MSEK	69	45	+53%	161	105	+53%	190	86	+121%
Earnings per share, SEK	2.45	1.55	+58%	5.75	3.70	+55%	6.80	3.00	+127%
Operating margin	5.4%	4.0%		4.6%	3.4%		4.3%	2.8%
Profit margin	4.6%	3.2%		3.8%	2.5%		3.5%	1.7%
Return on equity							11%	5%
Equity per share, SEK				65.20	62.80	+4%
Equity/assets ratio				33%	32%
Number of employees at
the end of the period				2,832	2,891	–2%

B&B TOOLS in summary

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 7.8 billion and approximately 2,800 employees.

PROFIT AND REVENUE

Profit

During the reporting period, the B&B TOOLS Group's operating profit amounted to MSEK 273 (199). Operating profit was charged with MSEK –39 (–43) for depreciation and impairment losses on tangible non-current assets and with MSEK –10 (–9) for amortisation and impairment losses on intangible non-current assets.

The operating margin for the period increased by 1.2 percentage points to 4.6 percent (3.4).

Profit after net financial items amounted to MSEK 224 (148). Net financial items totalled MSEK –49 (–51). The profit margin increased by 1.3 percentage points to 3.8 percent (2.5).

Exchange-rate translation effects had a negative net impact of MSEK –4 (+7) on reported operating profit for the period.

Profit after taxes totalled MSEK 161 (105). Earnings per share amounted to SEK 5.75 (3.70).

Revenue

Revenue totalled MSEK 5,927 (5,806). Exchange-rate translation effects had a negative impact of MSEK –150 (+114) on revenue for the reporting period.

Revenue for comparable units, measured in local currency, increased by approximately 5 percent during the reporting period.

Revenue for comparable units in the third quarter (October – December) increased by approximately 10 percent, measured in local currency.

OPERATIONS

Demand continued to develop positively in the Group's main

markets during the third quarter of the financial year. In total, during the first nine months of the financial year, the revenue trend

for the Group's operations in Sweden and Finland was favourable. The trend in Norway has stabilised and there are increasing indications of a recovery.

During the reporting period, many of the Group's customers in Sweden and Finland steadily increased their production volumes. However, the number of employees in the industrial sector has still not increased to the same extent as production volumes. A continued increase in production volumes will probably result in an upturn in the number of employees in the industrial sector and to increased activity at the subcontractor level. If that is the case, both of these factors will continue to impact B&B TOOLS positively.

B&B TOOLS' efforts to increase the coordination of the product ranges in the Group have had a favourable impact on profit.

GROUP	3 months ending			9 months ending		Full-year
	31 Dec	31 Dec	31 Dec	31 Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Revenue	2,105	1,985	5,927	5,806	7,769	7,648
Operating profit	113	80	273	199	335	261
Operating margin, %	5.4	4.0	4.6	3.4	4.3	3.4

B&B TOOLS Markets ("TOOLS")

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

MARKETS		3 months ending		9 months ending	Full-year
	31 Dec	31 Dec	31 Dec	31 Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Revenue	1,441	1,345	4,012	3,868	5,255	5,111
Operating profit	60	30	139	78	141	80
Operating margin, %	4.2	2.2	3.5	2.0	2.7	1.6

Markets' revenue for comparable units, measured in local currency, increased by 11 percent in the third quarter and by 6 percent during the entire reporting period. For Markets' various parts, the revenue trend for comparable units, measured in local currency, was as follows during the third quarter and the entire reporting period: TOOLS Sweden +14% and +9%, respectively; TOOLS Finland +20% and +15%, respectively; TOOLS Norway –1% and –6%, respectively; and TOOLS Momentum +16% and +13%, respectively.

Refer also to the specification of Markets in Appendix A on page 12.

B&B TOOLS Solutions

Solutions coordinates the functions that work with operation and development of the Group's solutions in the MRO area. Solutions comprises the Group's Product Companies and the Group-wide IT, Supply Chain, Complete Product and Central Purchasing functions.

SOLUTIONS		3 months ending		9 months ending		Full-year
	31 Dec	31 Dec	31 Dec	31 Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Revenue	1,002	923	2,836	2,733	3,727	3,624
Operating profit	52	47	139	125	190	176
Operating margin, %	5.2	5.1	4.9	4.6	5.1	4.9

Within Solutions, revenue for comparable units, measured in local currency, increased by 12 percent during the third quarter and +6 percent during the entire reporting period. During the financial year, the Product Company Essve switched supplier in the product area electrical hand tools, which had an adverse impact of approximately MSEK 74 on revenue during the reporting period (corresponding to approximately 3 percent of Solutions' total revenue).

Refer also to the specification of Solutions in Appendix A on page 12.

Group-wide and eliminations

Parent Company

The Parent Company's revenue amounted to MSEK 44 (42) and profit after net financial items totalled MSEK 131 (85). This profit includes intra-Group dividends and similar items amounting to MSEK 111 (95).

Eliminations

Eliminations for intra-Group inventory gains had an adverse impact of MSEK –6 (–1) during the period.

CORPORATE ACQUISITIONS

No new corporate acquisitions took place during the reporting period.

PROFITABILITY

The return on consolidated capital employed for the most recent 12-month period was 9 percent, and the return on equity was 11 percent. For the year-earlier period, the return on capital employed was 5 percent and the return on equity was 5 percent.

CASH FLOW, CAPITAL EXPENDITURES AND FINANCIAL POSITION

Cash flow from operating activities before changes in working capital for the reporting period amounted to MSEK 248 and included non-recurring items totalling MSEK 12, which were charged against the provision for resolved non-recurring items established on 31 March 2009. Funds tied up in working capital increased by MSEK 98. During the period, inventories and operating receivables increased by MSEK 76 and MSEK 26, respectively. Operating liabilities increased by MSEK 4. Accordingly, cash flow from operating activities for the reporting period was MSEK 150. Cash flow was negatively affected in a net amount of MSEK –21 by acquisitions and sales of intangible and tangible non-current assets. The settlement of purchase considerations in accordance with acquisition agreements previously entered into had a negative impact of MSEK –58

on cash flow. Following the cash settlements made during the period, there are no historical agreements that could result in any (as yet unsettled) future purchase considerations of material importance.

The Group's net loan liability at the end of the reporting period totalled MSEK 1,727 (1,682). Interest-bearing liabilities at the end of the period amounted to MSEK 1,906, including pension commitments totalling MSEK 381. Net liabilities to credit institutions amounted to MSEK 1,357. Combined cash and cash equivalents, including unutilised granted credit facilities, totalled MSEK 668.

At the end of the reporting period, the equity/assets ratio was 33 percent, compared with 32 percent at the beginning of the financial year.

Equity per share was SEK 65.20 at the end of the reporting period, compared with SEK 63.05 at the beginning of the financial year. Calculated on the basis of the number of shares after dilution, equity per share was SEK 65.20 at the end of the period, compared with SEK 63.00 at the beginning of the financial year.

EMPLOYEES

At the end of the reporting period, the number of employees in the Group was 2,832, compared with 2,844 at the beginning of the financial year.

SHARE STRUCTURE AND REPURCHASE OF OWN SHARES

Share capital at the end of the reporting period totalled MSEK 56.9. The distribution by classes of shares is as follows:

CLASSES OF SHARES	AS OF 31 DECEMBER 2010
Class A shares	1,076,748
Class B shares	27,359,668
Total number of shares before repurchasing	28,436,416
Less: Repurchased class B shares	–340,000
Total number of shares after repurchasing	28,096,416

As of 31 March 2010, the number of class B shares held in treasury totalled 380,500. During the reporting period, a total of 40,500 class B treasury shares were conveyed in conjunction with the redemption of personnel options. Through this, the personnel option programme, which was issued in April 2002, was concluded. Accordingly, at the end of the reporting period on 31 December 2010, the holding of class B treasury shares amounted to 340,000 shares, corresponding to 1.2 percent of the total number of shares and 0.9 percent of the total number of votes. All treasury shares are reserved to secure the Company's obligations under the call options programmes issued to senior executives in the Group in September 2006 and September 2007, respectively.

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

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, thus complying with the provisions detailed in RFR 2.3 Accounting for Legal Entities. The same accounting policies and bases of judgement as in the Annual Report for 2009/2010 have been applied, with the exception of certain new standards and interpretations that were applied from 1 April 2010 as described below.

In preparation for the 2010/2011 financial year, a review was conducted of the accounting methods applied. Following this review, certain cost items were reclassified. This reclassification entails that, as of 1 April 2010, a number of cost items will be recognised under "Other operating expense" and not under "Goods for resale" as they were in the past. For further information and recalculated comparative values for the preceding year, refer to the separate press release dated 12 August 2010.

The B&B TOOLS Group applies the revised IFRS 3 Business Combinations and the amended IAS 27 Consolidated and Separate Financial Statements as of 1 April 2010. The application of these standards has resulted in the following changes: the definition of a business has been changed, transaction expenses for business combinations are to be expensed, conditional purchase considerations are to be set at fair value on the acquisition date and the effects of the revaluation of liabilities related to conditional purchase considerations are to be recognised as revenue or cost in profit/loss for the year. These new rules will be applied for acquisitions carried out after 1 April 2010.

Apart from the reclassification of costs specified above and the amendments to IFRS 3 and IAS 27, new IFRS and statements from the IFRIC have not had any material impact on B&B TOOLS' financial statements.

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 pages 49-50 of the B&B TOOLS Annual Report for 2009/2010.

NOMINATION COMMITTEE FOR THE ELECTION OF DIRECTORS

In accordance with a resolution passed at the Annual General Meeting held in August 2010, the largest shareholders in terms of votes have been contacted and asked to appoint four members who, together with the Chairman of the Board, will form the Nomination Committee for the upcoming election of the Board of Directors. The Nomination Committee comprises Chairman of the Board Tom Hedelius, Anders Börjesson, Björn Franzon (representative of Swedbank Robur fonder), Tomas Ramsälv (representative of Odin Fonder) and Per Trygg (representative of SEB Fonder).

A description of the Nomination Committee's assignments and contact information is available on B&B TOOLS' website, www.bb.se, under the heading "Corporate Governance."

Stockholm, 16 February 2011

Stefan Wigren President & CEO

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

For further information, please contact

Stefan Wigren, President & CEO, Tel. +46 8-660 10 30 Mats Karlqvist, Vice President - Investor Relations, Tel. +46 8-442 59 04 or +46 70-660 31 32

Comprehensive contact information for B&B TOOLS is presented on page 13.

REPORTING BY OPERATING AREA1

REVENUE		3 months		9 months		Full-year
	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Markets	1,441	1,345	4,012	3,868	5,255	5,111
Solutions	1,002	923	2,836	2,733	3,727	3,624
Group-wide	22	21	64	65	94	95
Eliminations	–360	–304	–985	–860	–1,307	–1,182
Total	2,105	1,985	5,927	5,806	7,769	7,648

REVENUE BY QUARTER		2010/2011				2009/2010
MSEK	Q 3	Q 2	Q 1	Q 4	Q 3	Q 2	Q 1
Markets	1,441	1,222	1,349	1,243	1,345	1,184	1,339
Solutions	1,002	897	937	891	923	887	923
Group-wide	22	21	21	30	21	22	22
Eliminations	–360	–303	–322	–322	–304	–263	–293
Total	2,105	1,837	1,985	1,842	1,985	1,830	1,991

OPERATING PROFIT/LOSS		3 months		9 months	Full-year
	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Markets	60	30	139	78	141	80
Solutions	52	47	139	125	190	176
Group-wide	3	0	1	–3	13	9
Eliminations	–2	3	–6	–1	–9	–4
Total	113	80	273	199	335	261

OPERATING PROFIT/LOSS BY QUARTER		2010/2011				2009/2010
MSEK	Q 3	Q 2	Q 1	Q 4	Q 3	Q 2	Q 1
Markets	60	37	42	2	30	25	23
Solutions	52	47	40	51	47	50	28
Group-wide	3	4	–6	12	0	–1	–2
Eliminations	–2	–3	–1	–3	3	–3	–1
Total	113	85	75	62	80	71	48

¹ Comparative figures have been adjusted for internal corporate transfers.

GROUP SUMMARY

INCOME STATEMENT		3 months		9 months	Full-year
	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Revenue	2,105	1,985	5,927	5,806	7,769	7,648
Shares in profit/loss of associated
companies	0	0	1	0	2	1
Other operating income	2	2	4	4	5	5
Total operating revenue	2,107	1,987	5,932	5,810	7,776	7,654
Goods for resale	–1,265	–1,199	–3,542	–3,520	–4,641	–4,619
Personnel costs	–427	–444	–1,239	–1,267	–1,639	–1,667
Depreciation, amortisation, impairment
losses and reversal of impairment losses	–16	–18	–49	–52	–66	–69
Other operating expense	–286	–246	–829	–772	–1,095	–1,038
Total operating expense	–1,994	–1,907	–5,659	–5,611	–7,441	–7,393
Operating profit	113	80	273	199	335	261
Financial income and expense	–17	–17	–49	–51	–66	–68
Profit after net financial items	96	63	224	148	269	193
Taxes	–27	–18	–63	–43	–79	–59
Profit for the period	69	45	161	105	190	134
Of which attributable to: Parent Company shareholders Minority interest	69 0	44 1	161 0	104 1	191 –1	134 0
Earnings per share*, SEK
- before dilution	2.45	1.55	5.75	3.70	6.80	4.80
- after dilution	2.45	1.55	5.75	3.70	6.80	4.80

* Calculated on the basis of shareholders' proportion of profit.

STATEMENT OF COMPREHENSIVE		3 months		9 months		Full-year
INCOME	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Profit for the period	69	45	161	105	190	134
Other comprehensive income for the period
Translation differences	0	12	–46	–31	–74	–59
Translation differences in minority interest	0	0	0	0	0	0
Effect of hedge accounting	12	1	8	10	9	11
Taxes attributable to other comprehensive income	–3	–4	8	1	13	6
Comprehensive income for the period	78	54	131	85	138	92
Of which attributable to: Parent Company shareholders Minority interest	78 0	53 1	131 0	84 1	139 –1	92 0

BALANCE SHEET
MSEK Assets	31 Dec 2010	31 Dec 2009	31 Mar 2010
Intangible non-current assets	1,819	1,898	1,857
Tangible non-current assets	476	517	505
Financial non-current assets	144	122	124
Inventories	1,501	1,475	1,458
Current receivables	1,371	1,308	1,340
Cash and cash equivalents	168	278	209
Total assets	5,479	5,598	5,493
Equity and liabilities
Equity	1,832	1,771	1,769
Non-current liabilities	1,598	1,961	1,918
Current liabilities	2,049	1,866	1,806
Total equity and liabilities	5,479	5,598	5,493
Specification:
Equity	1,832	1,771	1,769
Interest-bearing liabilities	1,906	1,970	1,952
Non-interest-bearing liabilities	1,741	1,857	1,772
Total equity and liabilities	5,479	5,598	5,493

CASH-FLOW STATEMENT		3 months		9 months		Full-year
	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Operating activities before changes in working
capital Changes in working capital	130 31	48 225	248 –98	66 357	209 –114	27 341
Cash flow from operating activities	161	273	150	423	95	368
Acquisition of intangible and tangible non-
current assets	–9	–10	–24	–31	–35	–42
Sales of intangible and tangible non-current assets	0	1	3	2	6	5
Acquisition of subsidiaries and other business
units	–	–8	–58	–45	–59	–46
Sales of subsidiaries and other business units	–	3	–	3	–	3
Cash flow before financing	152	259	71	352	7	288
Financing activities	–56	–208	–110	–280	–113	–283
Cash flow for the period	96	51	–39	72	–106	5
Cash and cash equivalents at the beginning of the period	71	224	209	209	278	209
Exchange-rate difference in cash and cash
equivalents	1	3	–2	–3	–4	–5
Cash and cash equivalents at the end of the
period	168	278	168	278	168	209

STATEMENT OF CHANGES IN EQUITY
MSEK	31 Dec 2010	31 Dec 2009	31 Mar 2010
Opening equity	1,769	1,757	1,757
of which minority interest	0	18	18
Dividend, Parent Company shareholders	–70	–70	–70
Dividend, minority interest	–	0	0
Sale of treasury shares upon redemption of personnel options	2	4	8
Changes in minority interest due to acquisitions	–	–5	–18
Comprehensive income for the period attributable to:
Parent Company shareholders	131	84	92
Minority interest	0	1	0
Closing equity	1,832	1,771	1,769
of which minority interest	0	14	0

OPERATING				Revenue from
SEGMENT	External revenue Apr-Dec	Apr-Dec	Apr-Dec	internal customers Apr-Dec	Apr-Dec	Total revenue Apr-Dec		Operating profit Apr-Dec
MSEK	2010	2009	2010	2009	2010	2009	2010	2009
Markets	3,950	3,831	62	37	4,012	3,868	139	78
Solutions	1,977	1,975	859	758	2,836	2,733	139	125
Total operating segment	5,927	5,806	921	795	6,848	6,601	278	203
Group-wide	0	–	64	65	64	65	1	–3
Eliminations	–	–	–985	–860	–985	–860	–6	–1
Group	5,927	5,806	0	0	5,927	5,806	273	199

The Group's operating segments comprise the operating areas of B&B TOOLS Markets and B&B TOOLS Solutions.

The operating areas are the same as B&B TOOLS' organisational structure as used by Group management and the Board of Directors to monitor operations.

The B&B TOOLS Markets operating area comprises the Group's reseller operations in Sweden, Norway and Finland (which operate within the framework of TOOLS) and TOOLS Momentum, which together form the Group's market channel for industrial consumables and industrial components for Nordic industry.

The B&B TOOLS Solutions operating area comprises the Group's Product Companies, which conduct operations in various product areas and provide TOOLS and other market channels with industrial consumables and related services, and the Group's IT, Supply Chain, Complete Product and Central Purchasing functions.

Group-wide includes the Parent Company, the Group's joint salary centre and the Group's properties in Alingsås and Ulricehamn, where the Group's service, logistics and IT operations are located. The Parent Company comprises Group Management and central functions for finance, information, legal and HR.

Intra-Group pricing between the operating segments occurs on market terms.

No assets in the operating segments 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 DATA2	3 months			9 months	Full-year
SEK	Oct – Dec 2010	Oct – Dec 2009	Apr – Dec 2010	Apr – Dec 2009	Rolling 12 months	2009/ 2010
Earnings before dilution*	2.45	1.55	5.75	3.70	6.80	4.80
Earnings after dilution*	2.45	1.55	5.75	3.70	6.80	4.80
Equity, at the end of the period^			65.20	62.80		63.05
Equity after dilution, at the end of the period^			65.20	62.70		63.00
NUMBER OF SHARES OUTSTANDING IN THOUSANDS
Number of shares outstanding before dilution	28,096	27,973	28,096	27,973		28,056
Weighted number of shares outstanding before dilution Weighted number of shares outstanding	28,096	27,955	28,088	27,933	28,066	27,949
after dilution	28,096	28,006	28,088	27,976	28,066	27,965

* Calculated on the basis of shareholders' proportion of profit.

^ Calculated on the basis of shareholders' proportion of equity.

² There were no dilution effects based on outstanding call options programmes as of 31 December 2010.

PARENT COMPANY SUMMARY

INCOME STATEMENT		3 months		9 months Full-year
	Oct – Dec	Oct – Dec	Apr – Dec	Apr – Dec	Rolling	2009/
MSEK	2010	2009	2010	2009	12 months	2010
Revenue	15	14	44	42	59	57
Other operating income	0	–	0	–	0	–
Total operating revenue	15	14	44	42	59	57
Operating expense	–14	–18	–46	–54	–57	–65
Operating profit/loss	1	–4	–2	–12	2	–8
Financial income and expense	3	–8	133	97	186	150
Profit after net financial items	4	–12	131	85	188	142
Appropriations	–	–	–	–	8	8
Profit before taxes	4	–12	131	85	196	150
Taxes	–1	3	–6	0	–24	–18
Profit for the period	3	–9	125	85	172	132

BALANCE SHEET
MSEK	31 Dec 2010	31 Dec 2009	31 Mar 2010
Assets
Intangible non-current assets	3	4	3
Tangible non-current assets	4	3	4
Financial non-current assets	3,641	3,616	3,710
Current receivables	86	72	96
Cash and cash equivalents	80	159	117
Total assets	3,814	3,854	3,930
Equity and liabilities
Equity	1,122	1,036	1,057
Untaxed reserves	206	214	206
Provisions	48	54	53
Non-current liabilities	1,115	1,348	1,425
Current liabilities	1,323	1,202	1,189
Total equity, provisions and liability	3,814	3,854	3,930
Pledged assets and contingent liabilities, MSEK
Pledged assets	–	–	–
Contingent liabilities	281	268	274

APPENDIX

A. SPECIFICATION – OPERATING AREAS: MARKETS AND SOLUTIONS

OPERATING	Revenue, MSEK					Operating profit/loss, MSEK
AREA		3 months ending	9 months ending		Full-year		3 months ending			9 months ending	Full-year
	31 Dec 2010	31 Dec 2009	31 Dec 2010	31 Dec 2009	Rolling 12 mos	2009/ 2010	31 Dec 2010	31 Dec 2009	31 Dec 2010	31 Dec 2009	Rolling 12 mos	2009/ 2010
GROUP	2,105	1,985	5,927	5,806	7,769	7,648	113	80	273	199	335	261
MARKETS	1,441	1,345	4,012	3,868	5,255	5,111	60	30	139	78	141	80
Of which
Sweden	640	561	1,701	1,555	2,218	2,072	27	6	39	–27	30	–36
Norway	360	387	1,054	1,149	1,399	1,494	–6	5	3	36	–4	29
Finland	210	198	606	590	784	768	1	–1	7	2	3	–2
TOOLS
Momentum	241	209	673	599	881	807	27	18	76	61	95	80
SOLUTIONS	1,002	923	2,836	2,733	3,727	3,624	52	47	139	125	190	176
Of which
Product Co's	983	917	2,784	2,696	3,644	3,556	53	62	149	155	209	215

OPERATING	Operating margin, %
AREA	3 months ending		9 months ending		Full-year
	31 Dec	31 Dec	31 Dec	31 Dec	Rolling	2009/
	2010	2009	2010	2009	12 mos	2010
GROUP	5.4	4.0	4.6	3.4	4.3	3.4
MARKETS	4.2	2.2	3.5	2.0	2.7	1.6
Of which
Sweden	4.2	1.1	2.3	–1.7	1.4	–1.7
Norway Finland	–1.7 0.5	1.3 –0.5	0.3 1.2	3.1 0.3	–0.3 0.4	1.9 –0.3
TOOLS
Momentum	11.2	8.6	11.3	10.2	10.8	9.9
SOLUTIONS Of which	5.2	5.1	4.9	4.6	5.1	4.9
Product Co's	5.4	6.8	5.4	5.7	5.7	6.0

B. COMPILATION OF KEY FINANCIAL RATIOS

KEY FINANCIAL RATIOS	12 months ending
	31 Dec 2010	31 Mar 2010	31 Mar 2009	31 Mar 2008
Revenue, MSEK	7,769	7,648	9,325	9,133
Operating profit, MSEK	335	261	511	674
Profit after net financial items, MSEK	269	193	403	600
Profit for the period, MSEK	190	134	291	432
Operating margin	4.3%	3.4%	5.5%	7.4%
Profit margin	3.5%	2.5%	4.3%	6.6%
Return on capital employed	9%	7%	14%	23%
Return on equity	11%	8%	17%	31%
P/WC (Profit/Working capital)	19%	14%	23%	37%
Financial net loan liability (closing
balance), MSEK	1,727	1,734	1,959	1,769
Equity (closing balance), MSEK	1,832	1,769	1,757	1,571
Equity/assets ratio	33%	32%	29%	27%
Net debt/equity ratio	0.94	0.98	1.11	1.13
Number of employees at the end of the
period	2,832	2,844	3,183	3,315

KEY PER-SHARE DATA		12 months ending
	31 Dec 2010	31 Mar 2010	31 Mar 2009	31 Mar 2008
Earnings, SEK	6.80	4.80	10.20	15.10
Earnings after dilution, SEK	6.80	4.80	10.20	15.00
Cash flow, SEK	3.40	13.20	13.50	12.90
Equity, SEK	65.20	63.05	62.35	55.60
Share price, SEK	112.75	105.75	44.20	173.50

B. COMPILATION OF KEY FINANCIAL RATIOS – cont.

Dates for forthcoming financial information

Financial Report, 1 April 2010 – 31 March 2011 will be published on 12 May 2011. The Annual Report for the 2010/2011 financial year will be distributed to the shareholders at the end of July 2011 and will be available at the Company's office and website on the same date.

B&B TOOLS AB's 2011 Annual General Meeting will be held in Stockholm on 25 August 2011.

Visit www.bb.se to order financial 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 and the requirements established in regulations for issuers. The information was disclosed on 16 February 2011 at 10:50 a.m.

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.

B&B TOOLS AB (publ)

Mail address PO Box 10024 SE-100 55 Stockholm Sweden Visit Karlavägen 76 Stockholm Tel +46 8 660 10 30 Fax +46 8 660 58 70 Corp. Reg. No 556034-8590 Reg office Stockholm