INTERIM REPORT – 3 MONTHS 1 April-30 June 2018

Revenue increased by 10 percent to MSEK 1,543 (1,400).
Operating profit amounted to MSEK 70 (42). Adjusted operating profit (excluding items affecting comparability) increased by 35 percent to MSEK 70 (52), corresponding to an adjusted operating margin of 4.5 percent (3.7).
The return on working capital (P/WC) for the most recent 12-month period was 25 percent (20) and the return on equity was 18 percent (3).
Profit after financial items totalled MSEK 69 (40).
Net profit amounted to MSEK 54 (31).
Earnings per share for the most recent 12-month period totalled SEK 7.25, compared with SEK 6.45 for the 2017/18 financial year.
The operational net loan liability amounted to MSEK 324 (281) and the equity/assets ratio at the end of the reporting period was 43 percent (41).
In April 2018, subsidiary TriffiQ Företagsprofilering acquired Profilmakarna in Södertälje. The acquisition enables the formation of a leading player in workwear, profile clothing and promotional products in Stockholm and Södertälje.
In May 2018, subsidiary Momentum Industrial acquired Brammer's Swedish MRO business, comprising eight local sales and service units across Sweden. The acquisition strengthened Momentum Industrial's position as a leading supplier of industrial components and related services to Swedish industry.
Momentum Group's 2018 Annual General Meeting will be held on 22 August 2018. The notice of the Annual General Meeting was published today, 18 July 2018, including a proposed agenda and the motions presented by the Election Committee and the Board of Directors for resolution.

	QUARTER			FULL-YEAR
	3 MONTHS ENDING 30 JUN				12 MONTHS ENDING 30 JUN
	2018	2017	Δ	2018	2017	Δ
Revenue, MSEK	1,543	1,400	10%	5,759	5,429	6%
Operating profit, MSEK	70	42	67%	268	54	396%
of which, items affecting comparability	–	–10		–2	–138
Adjusted operating profit	70	52	35%	270	192	41%
Profit after financial items, MSEK	69	40	73%	264	43	514%
Net profit (after taxes), MSEK	54	31	74%	205	33	521%
Earnings per share, SEK	1.90	1.10	73%	7.25	1.20	504%
Operating margin	4.5%	3.0%		4.7%	1.0%
Adjusted operating margin	4.5%	3.7%		4.7%	3.5%
Profit margin	4.5%	2.9%		4.6%	0.8%
Return on equity				18%	3%
Equity per share, SEK				43.55	36.55	19%
Equity/assets ratio				43%	41%
Number of employees at the end of the period				1,683	1,688	0%

MOMENTUM GROUP IN SUMMARY

Momentum Group AB (publ)

Mail address: PO Box 5900, SE-102 40 Stockholm, Sweden │ Visit: Linnégatan 18, Stockholm │ Tel: +46 10 454 54 70

Org No: 559072-1352 Reg office: Stockholm │ www.momentum.group

PRESIDENT'S STATEMENT

Strong start of the 2018/19 financial year

The first quarter of the new 2018/19 financial year was marked by continued favourable sales and earnings trends for most of our businesses. For Momentum Group as a whole, operating profit increased by 35 percent (compared with adjusted operating profit for the first quarter of the preceding year) and the operating margin was 4.5 percent. The Group's earnings growth and improved operating margin were a result of the efficiency-enhancement efforts we have implemented, and continue to implement, in several Group companies.

As a whole, Momentum Group's main markets continued to display a stable trend, with general demand continuing to strengthen during the quarter, particularly in Norway. Most of our businesses improved their earnings compared with the preceding year, and we were particularly pleased to note TOOLS Norway's earnings growth, combined with increased sales volumes, and Momentum Industrial's continued healthy earnings. TOOLS Finland also continued to display a positive performance, with an operating margin of more than 5 percent for the quarter. Revenue for TOOLS Sweden decreased during the quarter compared with the preceding year, mainly due to the increased focus on selected customer groups and product areas, and to the winding down of 15 less profitable sales units in 2017. The improvement activities carried out to increase profitability in the TOOLS businesses continues unabated in all three countries, as does the ongoing restructuring work in Gigant.

Exciting acquisitions create opportunities for the future

In May, Momentum Industrial acquired Brammer's Swedish MRO business*, comprising eight local sales and service units across Sweden with total annual revenue of approximately MSEK 140. This acquisition further strengthened Momentum Industrial's position in the market. The integration of the local units has proceeded well to date, which is also reflected in the continued favourable trend for Momentum Industrial during the quarter. Moreover, the companies we acquired, particularly in the area of workwear and profile clothing, have contributed healthy profitability levels.

The road ahead for Momentum Group

We are continuing along the established path, with a focus on earnings growth along with reduced funds tied up in working capital in order to achieve increased profitability. Our future success will partly depend on the close cooperation of our local units with their customers as well as our ability to adapt our operations as and when the market conditions require us to do so. Accordingly, we will continue to adapt the measures taken in the various companies to their unique situations and opportunities, with a focus on always improving and being "better than yesterday".

Stockholm, July 2018

Ulf Lilius President & CEO

* MRO refers to products and services for maintenance, repair and operations.

PROFIT AND REVENUE

First quarter (1 April-30 June 2018)

Revenue for the first quarter of the financial year increased by 10 percent to MSEK 1,543 (1,400). Exchange-rate translation effects had an impact of MSEK +42 on revenue. Revenue for comparable units, measured in local currency and adjusted for the number of trading days, rose by 2 percent during the quarter. Acquisitions contributed approximately 3 percent to total revenue growth. The quarter included a total of one trading day more than the corresponding quarter in the preceding financial year.

Operating profit for the quarter totalled MSEK 70 (42). Profit for the quarter includes no items affecting comparability (MSEK –10), and adjusted operating profit amounted to MSEK 70 (52) – corresponding to an increase by 35 percent. Exchange-rate translation effects had a net impact of MSEK +2 (0) on operating profit. The adjusted operating margin (excluding items affecting comparability) was 4.5 percent (3.7). Profit after financial items totalled MSEK 69 (40) and net profit amounted to MSEK 54 (31) for the quarter. This corresponds to earnings per share for the quarter of SEK 1.90 (1.10).

OPERATIONS

The Momentum Group comprises two business areas – Tools & Consumables and Components & Services. Group-wide includes the Group's management, finance function, support functions (including internal communications, investor relations and legal affairs) and logistics operations in Sweden.

As a whole, the industrial markets in Sweden and Finland continued to display a stable trend during the first quarter of the financial year, while the industrial and oil and gas sectors in Norway strengthened further during the quarter.

The Momentum Group

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Revenue	1,543	1,400	5,759	5,616
Operating profit	70	42	268	240
of which, items affecting comparability	–	–10	–2	–12
Adjusted operating profit	70	52	270	252
Operating margin	4.5%	3.0%	4.7%	4.3%
Adjusted operating margin	4.5%	3.7%	4.7%	4.5%

Business area Tools & Consumables

This business area comprises TOOLS Sweden, TOOLS Norway, TOOLS Finland, Mercus Yrkeskläder, TriffiQ Företagsprofilering and Reklamproffsen, which offer products and services related to tools and industrial consumables as well as workwear and profile clothing for the industrial and construction sectors in the Nordic region.

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Revenue	1,218	1,110	4,531	4,423
Operating profit	44	19	154	129
of which, items affecting comparability	–	–5	0	–5
Adjusted operating profit	44	24	154	134
Operating margin	3.6%	1.7%	3.4%	2.9%
Adjusted operating margin	3.6%	2.2%	3.4%	3.0%

Revenue in the Tools & Consumables business area remained largely unchanged¹ in the first quarter of the financial year. Acquisitions contributed approximately 4 percent to total revenue growth. Favourable sales growth was noted during the quarter, particularly in TOOLS Norway and the workwear and profile materials companies.

Revenue for TOOLS Sweden decreased by 13 percent¹ during the quarter compared with the preceding year, mainly due to the restructuring work ongoing in the operations, involving the winding down of 15 less profitable sales units in 2017 and an increased focus on selected customer groups and product areas combined with increased cost efficiency. The improvement activities initiated in the businesses in autumn 2016 in order to increase profitability continues according to plan.

Revenue for TOOLS Norway increased by 13 percent¹ during the quarter, with a favourable trend in the industrial and oil and gas sectors and stable demand in the construction and civil engineering sectors. Essentially all sales units reported increased sales compared with the preceding year. Along with the measures taken to improve efficiency and reduce costs, the increase in sales had a positive impact on the earnings trend.

TOOLS Finland increased its revenue by 4 percent¹ during the quarter and continued to deliver a favourable sales trend in most customer groups. Combined with continued sound cost control, the increase in sales had a positive impact on the earnings performance during the quarter, with an operating margin of more than 5 percent.

A favourable market situation was noted for the Group companies specialising in workwear and profile materials during the quarter. Revenue for Mercus Yrkeskläder increased by 9 percent¹ , with a positive sales trend in all sales units. Combined with a number of cost-saving measures, this favourable sales growth continued to have a positive impact on the company's earnings performance. The newly acquired companies TriffiQ Företagsprofilering and Reklamproffsen performed well and contributed positively to earnings. TriffiQ's acquisition of Profilmakarna in Södertälje in April 2018 enabled the formation of a leading player in workwear, profile clothing and promotional products in Stockholm and Södertälje.

Business area Components & Services

This business area comprises Momentum Industrial and Gigant, which offer spare parts and service as well as workplace equipment for customers in the industrial sector in the Nordic region.

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Revenue	377	341	1,434	1,398
Operating profit	31	26	128	123
of which, items affecting comparability	–	0	–2	–2
Adjusted operating profit	31	26	130	125
Operating margin	8.2%	7.6%	8.9%	8.8%
Adjusted operating margin	8.2%	7.6%	9.1%	8.9%

Revenue in the Components & Services business area increased by 8 percent¹ during the first quarter of the financial year. Momentum Industrial, in particular, noted favourable revenue growth in terms of product sales, with a high activity level among many existing customers.

Momentum Industrial's revenue increased by 11 percent¹ during the quarter, with growth in sales of components to major industrial companies in the automotive sector and process industry, and with the addition of Brammer's Swedish MRO operations² as of the end of May 2018. The increase in sales had a

¹ Comparable units, measured in local currency and adjusted for the number of trading days this year compared with the preceding year.

² MRO refers to products and services for maintenance, repair and operations.

positive impact on the earnings trend compared with the preceding year. The acquisition of Brammer's eight local sales and service units across Sweden further strengthened Momentum Industrial's position as a leading supplier of industrial components with related services to Swedish industry. The integration of the acquired businesses proceeded according to plan during the quarter.

Revenue for Gigant was largely unchanged³ during the quarter. The restructuring work in Gigant is proceeding and sales via resellers developed positively during the quarter, which – combined with the measures implemented to reduce costs – had a positive impact on earnings during the quarter.

Group-wide and eliminations

An operating loss of MSEK –5 (–3) was reported for "Group-wide and eliminations" for the reporting period. The result for the first quarter during the present year includes no items affecting comparability. Items affecting comparability in "Group-wide" for the first quarter of the preceding year amounted to MSEK –5 and pertained to costs associated with the spin-off from the B&B TOOLS Group and the separate listing of Momentum Group on Nasdaq Stockholm.

The Parent Company's revenue for the reporting period amounted to MSEK 6 (7) and profit after financial items totalled MSEK 2 (–7). These results do not include any Group contributions, intra-Group dividends or other corresponding items.

EMPLOYEES

At the end of the reporting period, the number of employees in the Group was 1,683, compared with 1,647 at the beginning of the financial year. The change during the period mainly pertained to employees in acquired businesses.

CORPORATE ACQUISITIONS

Momentum Group has concluded two corporate acquisitions during the reporting period.

Acquisition of Profilmakarna

In April 2018, the subsidiary TriffiQ Företagsprofilering AB acquired all of the shares in Profilmakarna AB in Södertälje. The acquisition enables the formation of a leading player in profile clothing, promotional products and workwear in Stockholm and Södertälje. Profilmakarna generates annual revenue of approximately MSEK 25 and has eight employees. Closing took place in April 2018 and the acquisition is expected to have a marginally positive impact on Momentum Group's earnings per share for the 2018/19 financial year.

Acquisition of Brammer's MRO business in Sweden

In May 2018, the subsidiary Momentum Industrial AB acquired Brammer's Swedish MRO business, comprising eight local sales and service units across Sweden. The acquisition strengthened Momentum Industrial's position as a leading supplier of industrial components with related services to Swedish industry. Together, the acquired units generated annual revenue of approximately MSEK 140 with healthy trade margins. The acquisition was carried out as a conveyance of assets and liabilities. Closing took place in May 2018 and the acquisition is expected to have a marginally positive impact on Momentum Group's earnings per share for the 2018/19 financial year.

According to the preliminary acquisition analysis, the assets and liabilities included in the acquisitions during the reporting period amounted to the following:

	Carrying amount on acquisition date	Adjustment to fair value	Fair value recognized in the Group
Acquired assets:
Intangible non-current assets	–	12	12
Other non-current assets	0	–	0
Inventories	22	–	22
Other current assets	3	–	3
Total assets	25	12	37
Acquired provisions and liabilities:
Current operating liabilities	–6	–	–6
Total provisions and liabilities	–6	–	–6
Net of identified assets and liabilities	19	12	31
Goodwill			12
Purchase consideration			43
Less: Net cash in acquired companies1)			0
Effect on consolidated cash and cash equivalents			43

1) Net of cash and cash equivalents and interest-bearing liabilities in the acquired businesses.

³ Comparable units, measured in local currency and adjusted for the number of trading days this year compared with the preceding year.

Refer to the summary of acquisitions completed since the 2015/16 financial year on page 13.

PROFITABILITY, CASH FLOW AND FINANCIAL POSITION

The Group's profitability, measured as the return on working capital (P/WC), amounted to 25 percent (20) for the most recent 12-month period. The return on capital employed for the corresponding period was 19 percent (4) and the return on equity was 18 percent (3).

Cash flow from operating activities before changes in working capital for the reporting period totalled MSEK 50 (36). Funds tied up in working capital rose by MSEK 26 (44). During the period, inventories decreased by MSEK 3 and operating receivables increased by MSEK 54, primarily due to the increased activity level in Norway and Finland. Operating liabilities rose by MSEK 25. Accordingly, cash flow from operating activities for the period amounted to MSEK 24 (–8).

Cash flow for the reporting period was also impacted in a net amount of MSEK –6 (–9) pertaining to investments in and divestments of non-current assets and a net amount of MSEK –43 (0) pertaining to the acquisition of subsidiaries and other business units.

At the end of the reporting period, the Group's operational net loan liability amounted to MSEK 324 (281). Cash and cash equivalents, including unutilised granted credit facilities, totalled MSEK 476. The equity/assets ratio at the end of the reporting period was 43 percent, compared with 42 percent at the beginning of the financial year.

Equity per share, both before and after dilution, totalled SEK 43.55 at the end of the reporting period, compared with SEK 40.95 at the beginning of the financial year.

In June 2018, the Swedish Parliament decided on new tax legislation introducing a lower corporation tax in two stages: 21.4 percent as of 2019 and 20.6 percent as of 2021. The decision entails that deferred tax has been remeasured based on the assessed date of realisation, which has resulted in a marginally positive impact on recognised tax for the period.

SHARE STRUCTURE AND REPURCHASE OF OWN SHARES

At the end of the reporting period, share capital totalled MSEK 57. The distribution by class of share was as follows:

CLASS OF SHARE	AS OF 30 JUNE 2018
Class A shares	1,062,436
Class B shares	27,202,980
Total number of shares before repurchasing	28,265,416
Less: Repurchased Class B shares	–250,000
Total number of shares after repurchasing	28,015,416

As of 31 March 2018, Momentum Group's holding of Class B shares totalled 250,000. There were no changes to the holding of treasury shares during the reporting period. Accordingly, the number of Class B shares held in treasury as of 30 June 2018 amounted to 250,000, corresponding to 0.9 percent of the total number of shares and 0.7 percent of the total number of votes.

The repurchased shares also cover the Company's obligations under the call option programme issued to senior management in December 2017. The redemption price for the 250,000 call options issued in connection with the 2017 Share-Based Incentive Programme is SEK 121.60 per share. Each call option entitles the holder to acquire one repurchased Class B share during the redemption periods of 12-25 February and 12-25 May 2021, respectively.

The share price on 30 June 2018 was SEK 110.60 and the issued call options thus did not result in any dilution effect during the reporting period. When fully exercised, the number of outstanding Class B shares will increase by 250,000, corresponding to 0.9 percent of the total number of shares and 0.7 percent of the total number of votes.

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

The Board has decided to propose that the Annual General Meeting in August 2018 resolve to renew the authorisation to repurchase of own shares in accordance with the information below.

TRANSACTIONS WITH RELATED PARTIES

No transactions having a material impact on the Group's position or earnings occurred between Momentum Group and its related parties during the reporting period.

RISKS AND UNCERTAINTIES

Momentum Group's earnings, financial position and strategic position are impacted by a number of internal factors that are within the control of Momentum Group as well as a number of external factors where the Group's ability to influence the course of events is limited. The most important external risk factors for Momentum Group are the economic and market situation as well as the development in the number of employees in the industrial and construction sectors combined with structural changes and the competitive situation. The risk and uncertainties impacting the Group are the same as in earlier periods. For more information about the Group's risks and uncertainties, refer to page 34 of Momentum Group's Annual Report for 2017/18. The Parent Company is impacted indirectly by the above risks and uncertainties through its function in the Group.

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. In addition to the financial statements and associated notes, disclosures in accordance with IAS 34.16A are also presented in other sections of the Report. 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 Momentum Group's Annual Report for 2017/18 have been applied. New and amended IFRS and IFRIC interpretations applicable as of the 2018/19 financial year, mainly IFRS 9 Financial Instruments and IFRS 15 Revenue from Contracts with Customers, have not had a material impact on the Group's financial reporting.

New or amended IFRS that will be applied in coming periods

IFRS 16 Leases will be applied from the 2019/20 financial year. IFRS 16 mainly affects the lessee and the principal effect is that leases which are currently reported as operational leases will be recognised in a manner similar to the current recognition of financial leases. As an operational lessee, Momentum Group will be affected by the implementation of IFRS 16. Monetary calculations of the effect of IFRS 16 and the choice of transitional method have not yet been concluded.

PERFORMANCE MEASURES – DEFINITIONS & CALCULATIONS

Momentum Group uses certain financial performance measures in its analysis of the operations and their performance that are not defined in accordance with IFRS. Momentum Group believes that these performance measures provide valuable information for the Company's Board of Directors, owners and investors, since they enable a more accurate assessment of current trends and the Company's performance when combined with other performance measures calculated in accordance with IFRS. Since not all listed companies calculate these financial performance measures in the same way, there is no guarantee that the information is comparable with other companies' performance measures of the same name. Hence, these financial performance measures must not be viewed as a replacement for those measures calculated in accordance with IFRS. For definitions and information on the calculation of certain financial performance measures, refer to pages 15-17.

THE ANNUAL GENERAL MEETING 2018

Momentum Group AB's Annual General Meeting will be held on Wednesday, 22 August 2018, at 2:00 p.m. at IVA's Conference Centre, Grev Turegatan 16, Stockholm, Sweden.

The Board of Directors of Momentum Group AB proposes a dividend of SEK 2.60 per share, corresponding to a pay-out ratio of 40 percent of earnings per share. Taking into account the Class B shares repurchased by the Company, the proposed dividend corresponds to a total of approximately MSEK 73. The proposed dividend is in line with the Company's dividend policy, which states that 30-50 percent of earnings per share are to be distributed over a business cycle.

The Board has also decided to propose that the Annual General Meeting in August 2018 resolve to renew the authorisation to repurchase of own shares. In brief, this motion entails that the Annual General Meeting would authorise the Board, during the period until the next Annual General Meeting, to repurchase a maximum number of own shares through Nasdaq Stockholm so that the Company's holding of treasury shares at no time exceeds 10 percent of the total number of shares in the Company. This authorisation would enable the Board to use repurchased shares to pay for acquisitions or to sell the shares in a manner other than through Nasdaq Stockholm in order to finance acquisitions and to fulfil the Company's obligations in connection with its share-based incentive programmes for senior management in the Momentum Group.

EVENTS AFTER THE END OF THE REPORTING PERIOD

No significant events affecting the Group have occurred since the end of the reporting period.

Stockholm, 18 July 2018

Ulf Lilius

President & CEO

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

Contact information

Ulf Lilius, President & CEO, Tel: +46 10 454 54 70 Mats Karlqvist, Head of Investor Relations, Tel: +46 70 660 31 32

Dates for forthcoming financial information

The Annual Report for the 2017/18 financial year was published on 27 June 2018 and is available on the Company's website.

Momentum Group AB's Annual General Meeting 2018 will be held at IVA's Conference Centre, Grev Turegatan 16, Stockholm, Sweden on 22 August 2018, at 2:00 p.m. The notice for the Annual General Meeting will be published today, 18 July 2018.

Interim Report (6 months) – 1 April-30 September 2018 will be published on 24 October 2018. Interim Report (9 months) – 1 April-31 December 2018 will be published on 8 February 2019. Financial Report 2018/19 – 1 April 2018-31 March 2019 will be published on 9 May 2019.

Visit www.momentum.group to subscribe for reports and press releases.

The information in this report is such that Momentum Group AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 8:00 a.m. CET on 18 July 2018.

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.

Momentum Group AB (publ) Mail address: PO Box 5900, SE-102 40 Stockholm, Sweden Visit: Linnégatan 18, Stockholm Tel: +46 10 454 54 70 Org No: 559072-1352 Reg office: Stockholm www.momentum.group

BUSINESS AREAS

REVENUE BY BUSINESS AREA

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Tools & Consumables	1,218	1,110	4,531	4,423
Components & Services	377	341	1,434	1,398
Group-wide	31	31	120	120
Eliminations	–83	–82	–326	–325
Momentum Group	1,543	1,400	5,759	5,616

REVENUE BY QUARTER

REVENUE BY QUARTER			2018/19			2017/18
MSEK	Q 4	Q 3	Q 2	Q 1	Q 4	Q 3	Q 2	Q 1
Tools & Consumables				1,218	1,120	1,170	1,023	1,110
Components & Services				377	371	369	317	341
Group-wide				31	31	27	31	31
Eliminations				–83	–85	–80	–78	–82
Momentum Group				1,543	1,437	1,486	1,293	1,400

OPERATING PROFIT/LOSS BY BUSINESS AREA

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Tools & Consumables	44	19	154	129
Components & Services	31	26	128	123
Group-wide	–5	–4	–14	–13
Eliminations	0	1	0	1
Momentum Group	70	42	268	240

OPERATING PROFIT/LOSS BY QUARTER

		2018/19					2017/18
MSEK	Q 4	Q 3	Q 2	Q 1	Q 4	Q 3	Q 2	Q 1
Tools & Consumables				44	27	46	37	19
Components & Services				31	36	32	29	26
Group-wide				–5	–3	–1	–5	–4
Eliminations				0	0	–1	1	1
Momentum Group				70	60	76	62	42

ADJUSTED OPERATING PROFIT/LOSS BY BUSINESS AREA

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Tools & Consumables	44	24	154	134
Components & Services	31	26	130	125
Group-wide	–5	1	–14	–8
Eliminations	0	1	0	1
Momentum Group	70	52	270	252

GROUP SUMMARY

INCOME STATEMENT

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Revenue	1,543	1,400	5,759	5,616
Shares of profit in associated companies	–	0	2	2
Other operating income	1	1	4	4
Total operating income	1,544	1,401	5,765	5,622
Cost of goods sold	–975	–888	–3,633	–3,546
Personnel costs	–308	–293	–1,140	–1,125
Depreciation, amortisation, impairment losses and reversal of impairment losses Other operating expenses	–11 –180	–8 –170	–40 –684	–37 –674
Total operating expenses	–1,474	–1,359	–5,497	–5,382

Operating profit	70	42	268	240
Financial income	0	0	2	2
Financial expenses	–1	–2	–6	–7
Net financial items	–1	–2	–4	–5
Profit after financial items	69	40	264	235
Taxes	–15	–9	–59	–53
Net profit	54	31	205	182
Of which, attributable to: Parent Company shareholders Non-controlling interest	53 1	31 –	203 2	181 1
Earnings per share, SEK – before dilution – after dilution	1.90 1.90	1.10 1.10	7.25 7.25	6.45 6.45

STATEMENT OF COMPREHENSIVE INCOME

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Net profit	54	31	205	182
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Components that will not be reclassified to net profit
Remeasurement of defined-benefit pension
plans	–1	1	–6	–4
Tax attributable to components that will not
be reclassified	0	0	1	1
	–1	1	–5	–3

Components that will be reclassified to net profit
Translation differences	16	–6	52	30
Fair value changes for the year in cash-flow
hedges	–1	0	–1	0
Tax attributable to components that will be
reclassified	0	0	0	0
	15	–6	51	30
Other comprehensive income for the period	14	–5	46	27
Total comprehensive income for the period	68	26	251	209

Of which, attributable to:
Parent Company shareholders	67	26	249	208
Non-controlling interest	1	–	2	1

BALANCE SHEET

MSEK	30 JUN 2018	30 JUN 2017	31 MAR 2018
ASSETS
Non-current assets
Intangible non-current assets	654	533	627
Tangible non-current assets	60	65	61
Shares in associated companies	–	9	–
Financial investments	2	5	2
Deferred tax assets	24	25	24
Total non-current assets	740	637	714
Current assets
Inventories	962	842	927
Accounts receivable	1,016	889	967
Other current receivables	119	128	116
Cash and cash equivalents	6	15	10
Total current assets	2,103	1,874	2,020
TOTAL ASSETS	2,843	2,511	2,734
EQUITY AND LIABILITIES
Equity
Equity attributable to Parent Company shareholders	1,225	1,033	1,155
Non-controlling interest	13	–	15
Total equity	1,238	1,033	1,170
Non-current liabilities
Non-current interest-bearing liabilities	180	147	103
Provisions for pensions	28	23	27
Other non-current liabilities and provisions	74	41	79
Total non-current liabilities	282	211	209
Current liabilities
Current interest-bearing liabilities	150	149	202
Accounts payable	777	737	743
Other current liabilities	396	381	410
Total current liabilities	1,323	1,267	1,355
TOTAL LIABILITIES	1,605	1,478	1,564
TOTAL EQUITY AND LIABILITIES	2,843	2,511	2,734
Operational net loan liability	324	281	295

STATEMENT OF CHANGES IN EQUITY

		Equity attributable to Parent Company shareholders
MSEK	Share capital	Reserves	Retained earnings, including net profit	Total	Non-controlling interest	Total equity
Closing equity, 31 March 2017	57	–28	978	1,007	–	1,007
Net profit			181	181	1	182
Other comprehensive income		30	–3	27		27
Premium received for issued share options			2	2		2
Repurchase of own shares			–27	–27		–27
Acquisitions of partly owned subsidiaries				–	13	13
Contributions in partly owned subsidiaries				–	1	1
Option liability, acquisitions1)			–35	–35		–35
Closing equity, 31 March 2018	57	2	1,096	1,155	15	1,170
Net profit for the period			53	53	1	54
Other comprehensive income		15	–1	14		14
Changes in share of partly owned subsidiaries			2	2	–2	0
Dividends paid in partly owned subsidiaries				0	–1	–1
Change in value of option liability			1	1		1
Closing equity, 30 June 2018	57	17	1,151	1,225	13	1,238

1) Refers to the value of call/put options in relation to the non-controlling interest in the acquired subsidiaries TriffiQ Företagsprofilering AB and Reklamproffsen Skandinavien AB, which entail that: a) Momentum Group is entitled to purchase the remaining shares from the shareholders (call option), and b) the shareholders are entitled to sell their shares to Momentum Group (put option). The call options expire during the 2020/21 financial year and can thereafter be extended for a period of one year at a time. The put options can be exercised until the 2019/20 financial year. The price of the options is dependent on certain results being achieved in the respective company.

CASH-FLOW STATEMENT

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Operating activities
Operating activities before changes in
working capital	50	36	209	195
Changes in working capital	–26	–44	–85	–103
Cash flow from operating activities	24	–8	124	92
Investing activities
Acquisition of intangible and tangible non
current assets	–6	–9	–33	–36
Proceeds from sale of intangible and tangible non-current assets	0	0	0	0
Acquisition of subsidiaries and other
business units	–43	–	–115	–72
Proceeds from sale of financial non-current
assets	–	–	9	9
Cash flow from investing activities	–49	–9	–139	–99
Cash flow before financing	–25	–17	–15	–7
Financing activities
Financing activities	21	–37	6	–52
Cash flow for the period	–4	–54	–9	–59
Cash and cash equivalents at the beginning
of the period	10	69	15	69
Exchange-rate differences in cash and cash
equivalents	0	0	0	0
Cash and cash equivalents at the end of the period
	6	15	6	10

FINANCIAL INSTRUMENTS

Momentum Group 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. The fair value of all of the Group's financial assets is estimated to correspond with their carrying amount. Liabilities measured at fair value comprise options issued in connection with the acquisition of equity instruments in partly owned subsidiaries, which are measured using discounted cash flow and are thus included in level 3 according to IFRS 13.

MSEK	30 JUN 2018	31 MAR 2018
Financial assets measured at fair value
Shares and participations available for sale	1	1
Financial assets measured at amortised cost
Long-term receivables	0	0
Accounts receivable	1,016	967
Cash and cash equivalents	6	10
Total financial assets	1,023	978

Financial liabilities measured at fair value
Option liability	32	35
Financial liabilities measured at amortised cost
Interest-bearing liabilities	330	305
Accounts payable	777	743
Total financial liabilities	1,139	1,083

OPERATING SEGMENTS

The Group's operating segments comprise the Tools & Consumables and Components & Services business areas. The operating segments are consolidations of the operational organisation, as used by Group management and the Board of Directors to monitor operations. Group management, comprising the CEO and CFO, are the Group's chief operating decision makers.

Tools & Consumables comprises TOOLS Sweden, TOOLS Norway, TOOLS Finland, Mercus Yrkeskläder, TriffiQ Företagsprofilering and Reklamproffsen Skandinavien, which offer products and services related to tools and industrial consumables as well as workwear and profile clothing for the industrial, construction and public sectors in the Nordic region. Components & Services comprises Momentum Industrial and Gigant, which offer spare parts and service as well as workplace equipment for customers in the industrial sector in the Nordic region. Group-wide includes the Group's management, finance function, support functions and logistics operations in Sweden. The support functions include internal communications, investor relations and legal affairs. Financial income and expenses are not distributed by operating segment but rather are recognised in their entirety in Group-wide.

Intra-Group pricing between the operating segments occurs on market terms. The accounting policies are the same as those applied in the consolidated financial statements.

OPERATING SEGMENTS – cont.

	APR-JUN 2018 (3 MON)
MSEK	Tools & Consumables	Components & Services	Group-wide	Eliminations	Group total
Revenue
From external customers	1,215	327	1	–	1,543
From other segments	3	50	30	–83	-
Total	1,218	377	31	–83	1,543
Adjusted operating profit	44	31	–5	0	70
Items affecting comparability	–	–	–	–	–
Operating profit/loss	44	31	–5	0	70
Net financial items	–	–	–1	–	–1
Profit/loss after financial items	44	31	–6	0	69

	APR-JUN 2017 (3 MON)
MSEK	Tools & Consumables	Components & Services	Group-wide	Eliminations	Group total
Revenue
From external customers	1,107	292	1	–	1,400
From other segments	3	49	30	–82	-
Total	1,110	341	31	–82	1,400
Adjusted operating profit	24	26	1	1	52
Items affecting comparability	–5	–	–5	–	–10
Operating profit/loss	19	26	–4	1	42
Net financial items	-	-	–2	–	–2
Profit/loss after financial items	19	26	–6	1	40

KEY PER-SHARE DATA

	QUARTER		FULL-YEAR
SEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Earnings before dilution	1.90	1.10	7.25	6.45
Earnings after dilution	1.90	1.10	7.25	6.45
Equity, at the end of the period Equity after dilution, at the end of the			43.55	40.95
period			43.55	40.95
NUMBER OF SHARES OUTSTANDING IN THOUSANDS
Number of shares outstanding before
dilution	28,015	28,265	28,015	28,015
Weighted number of shares outstanding before dilution	28,015	28,265	28,140	28,203
Weighted number of shares outstanding after dilution	28,015	28,265	28,140	28,203

Weighted number of shares and dilution

Average number of shares outstanding before or after dilution. Shares held by Momentum Group at any given time are not included in the number of shares outstanding. Dilution effects arise due to any call options issued by the Company that can be settled using shares in share-based incentive programmes. In such cases, the call options have a dilution effect when the average share price during the period is higher than the redemption price of the call options. Momentum Group held 250,000 Class B shares as of 30 June 2018 and has issued 250,000 call options for these treasury shares. Since the average share price is lower than the redemption price of SEK 121.60 per call option, no dilution effect existed as of 30 June 2018. Refer also to page 6.

ACQUISITIONS

Corporate acquisitions carried out since the 2015/16 financial year are distributed between the Momentum Group's business areas as follows:

	TIME		NO. OF
ACQUISITION	(possession taken)	REVENUE1)	EMPLOYEES1)	BUSINESS AREA
AB Carl A. Nilssons El. Rep.verkstad, SE	September 2015	MSEK 20	13	Components & Services
Tønsberg Maskinforretning AS, NO	April 2016	MNOK 20	10	Tools & Consumables
Astrup Industrivarer AS, NO	November 2016	MNOK 240	50	Tools & Consumables
Arboga Machine Tool AB, SE	March 2017	MSEK 10	5	Components & Services
TriffiQ Företagsprofilering AB2), SE	September 2017	MSEK 70	18	Tools & Consumables
AB Knut Sehlins Industrivaruhus, SE	October 2017	MSEK 40	14	Tools & Consumables
Elka Produkter AB2), SE	October 2017	3) –	10	Components & Services
Reklamproffsen Skandinavien AB2), SE	March 2018	MSEK 35	12	Tools & Consumables
Profilmakarna AB, SE	April 2018	MSEK 25	8	Tools & Consumables
MRO business from Brammer4), SE	May 2018	MSEK 140	33	Components & Services

1) Refers to information for the full year on the date of acquisition.

2) Momentum Group acquired 70 percent of the shares in each company.

3) The current operations of Elka Produkter AB were established in autumn 2017. Accordingly, there is no full-year information available regarding comparable revenue.

4) The acquisition was carried out as a conveyance of assets and liabilities.

PARENT COMPANY SUMMARY

INCOME STATEMENT

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Revenue	6	7	21	22
Other operating income	0	0	0	0
Total operating income	6	7	21	22
Operating expenses	–9	–17	–35	–43
Operating profit/loss	–3	–10	–14	–21
Financial income and expenses	5	3	17	15
Profit/loss after financial items	2	–7	3	–6
Appropriations	–	–	102	102
Profit before taxes	2	–7	105	96
Taxes	0	1	–22	–21
Net profit	2	–6	83	75

STATEMENT OF COMPREHENSIVE INCOME

	QUARTER		FULL-YEAR
MSEK	APR-JUN 2018	APR-JUN 2017	ROLLING 12 MON	2017/18
Net profit	2	–6	83	75
OTHER COMPREHENSIVE INCOME FOR THE PERIOD
Components that will not be reclassified to net profit
	–	–	–	–
Components that will be reclassified to net profit
	–	–	–	–
Other comprehensive income for the period	–	–	–	–
Total comprehensive income for the period	2	–6	83	75

BALANCE SHEET

MSEK	30 JUN 2018	30 JUN 2017	31 MAR 2018
ASSETS
Intangible non-current assets	0	0	0
Tangible non-current assets	–	–	–
Financial non-current assets	845	812	862
Current receivables	350	198	405
Cash and cash equivalents	–	–	–
Total assets	1,195	1,010	1,267

EQUITY, PROVISIONS AND LIABILITIES
Equity	682	624	680
Untaxed reserves	29	–	29
Provisions	–	–	–
Non-current liabilities	179	147	102
Current liabilities	305	239	456
Total equity, provisions and liabilities	1,195	1,010	1,267

PERFORMANCE MEASURES – DEFINITIONS & CALCULATIONS

Certain performance measures presented below are calculated in accordance with IFRS and others are so-called alternative performance measures that Momentum Group considers to be important in forming an understanding of its operations. The derivation of the alternative performance measures is also presented in the tables. Insofar as the performance measures are used and commented on by business area (operating segment), the derivation of the performance measures is also presented at this level.

	12 MONTHS ENDING
	30 JUN 2018	31 MAR 2018	31 MAR 2017	31 MAR 2016
IFRS PERFORMANCE MEASURES
Net profit, MSEK	205	182	42	139
Earnings per share, SEK	7.25	6.45	1.50	4.95

ALTERNATIVE PERFORMANCE MEASURES
Performance measures related to the income statement
Revenue, MSEK	5,759	5,616	5,411	5,176
Operating profit, MSEK	268	240	65	193
Adjusted operating profit, MSEK	270	252	193	193
Profit after financial items, MSEK	264	235	54	182
Operating margin, %	4.7%	4.3%	1.2%	3.7%
Adjusted operating margin, %	4.7%	4.5%	3.6%	3.7%
Profit margin, %	4.6%	4.2%	1.0%	3.5%
Performance measures related to profitability
Return on working capital (P/WC), %	25%	24%	21%	19%
Return on capital employed, %	19%	17%	4%	12%
Return on adjusted capital employed, %	19%	18%	16%	15%
Return on equity, %	18%	17%	4%	14%
Performance measures related to financial position
Operational net loan liability (closing balance),
MSEK	324	295	263	117
Equity (closing balance)*, MSEK	1,225	1,155	1,007	939
Equity/assets ratio, %	43%	42%	39%	35%
Adjusted equity/assets ratio, %	43%	42%	40%	43%
Other performance measures
Number of employees at the end of the period	1,683	1,647	1,660	1,573
Share price at the end of the period, SEK	110.60	100.00	–	–

* Refers to equity attributable to Parent Company shareholders

DEFINITIONS OF PERFORMANCE MEASURES

Revenue

Own invoicing, commission-based revenue from commission sales and side revenue.

Operating profit

Profit before financial items and tax.

Adjusted operating profit

Operating profit adjusted for items affecting comparability.

Operating margin, % Operating profit relative to revenue.

Adjusted operating margin, %

Adjusted operating profit as a percentage of revenue.

Profit margin, %

Profit after financial items as a percentage of revenue.

Return on working capital (P/WC), %

Adjusted operating profit for the most recent 12-month period divided by average working capital measured as total working capital (accounts receivable and inventories less accounts payable) at the end of each month for the most recent 12-month period and the opening balance at the start of the period divided by 13.

Return on capital employed, %

Operating profit plus financial income for the most recent 12-month period divided by average capital employed measured as the balance-sheet total less non-interest-bearing liabilities and provisions at the end of the most recent four quarters and the opening balance at the start of the period divided by five.

Return on adjusted capital employed, %

Adjusted operating profit plus financial income for the most recent 12-month period divided by average adjusted capital employed measured as the balance-sheet total less non-interest-bearing liabilities and provisions as well as cash vis-a-vis the former Parent Company, B&B TOOLS AB, at the end of the most recent four quarters and the opening balance at the start of the period divided by five.

Return on equity, %

Net profit for the most recent 12-month period divided by average equity measured as total equity attributable to Parent Company shareholders at the end of the most recent four quarters and the opening balance at the start of the period divided by five.

Operational net loan liability (closing balance)

Operational net loan liability measured as non-current interest-bearing liabilities and current interest-bearing liabilities, excluding net provisions for pensions, less cash and cash equivalents at the end of the period.

Equity/assets ratio, %

Equity attributable to Parent Company shareholders as a percentage of the balance-sheet total at the end of the period.

Adjusted equity/assets ratio, %

Equity attributable to Parent Company shareholders as a percentage of the balance-sheet total less cash vis-a-vis the former Parent Company, B&B TOOLS AB, at the end of the period.

Earnings per share, SEK

Net profit attributable to the Parent Company shareholders divided by the weighted number of shares. IFRS performance measure.

DERIVATION OF ALTERNATIVE PERFORMANCE MEASURES

	12 MONTHS ENDING
MSEK	30 JUN 2018	31 MAR 2018	31 MAR 2017	31 MAR 2016
ADJUSTED OPERATING PROFIT
Operating profit	268	240	65	193
Items affecting comparability
Restructuring expenses	–	–	94	–
Split and listing expenses	2	12	34	–
Adjusted operating profit	270	252	193	193
Per segment: Tools & Consumables
Operating profit	154	129	12	72
Items affecting comparability	–	5	64	–
Adjusted operating profit – Tools & Consumables	154	134	76	72
Per segment: Components & Services
Operating profit	128	123	113	120
Items affecting comparability	2	2	8	–
Adjusted operating profit – Components & Services	130	125	121	120
Group-wide, including eliminations
Operating profit/loss	–14	–12	–60	1
Items affecting comparability	–	5	56	–
Adjusted operating profit/loss – Group-wide, including eliminations	–14	–7	–4	1

	12 MONTHS ENDING
MSEK	30 JUN 2018	31 MAR 2018	31 MAR 2017	31 MAR 2016
WORKING CAPITAL
Average operating assets
Average inventories	913	884	823	814
Average accounts receivable	907	895	821	780
Total average operating assets	1,820	1,779	1,644	1,594
Average operating liabilities
Average accounts payable	–732	–732	–709	–583
Total average operating liabilities	–732	–732	–709	–583
Average working capital	1,088	1,047	935	1,011
Adjusted operating profit	270	252	193	193
Return on working capital (P/WC), %	25%	24%	21%	19%