Beijer Electronics Group — Audit Report / Information 2015

Jan 28, 2016

JANUARY 1—DECEMBER 31, 2015

IDC satisfies challenging expectations, and new restructuring program in IAS

Fourth quarter

• Order intake of 343.1 MSEK (358.7).
• Net sales were 333.0 MSEK (365.4).
• Operating profit was -10.7 MSEK (13.9).
• Profit after tax was -12.5 MSEK (8.9).
• Earnings per share were -0.66 SEK (0.47).
• Finnish operations divested at year-end.

Full year 2015

• Order intake was 1,332.6 MSEK (1,398.2).
• Net sales were 1,374.6 MSEK (1,401.6).
• Operating profit was 52.2 MSEK (113.6 and 80.7 excluding capital gain in 2014).
• Profit after tax amounted to 23.8 MSEK (62.7).
• Earnings per share were 1.26 SEK (3.24).

• The Board of Directors proposes a dividend of 1.25 SEK per share (1.25).

After the end of the financial year

• Extraordinary General Meeting convened to adopt a resolution regarding the divestment of the Baltic operations.
• Decision to implement a restructuring program for the IAS business area. The program is set to reduce costs by 50 MSEK annually, of which 30 MSEK effective in 2016. The cost of the package is estimated at 50 MSEK, which will be charged to profit in the first quarter 2016.

Financial Statement, Beijer Electronics AB

Comments from President and CEO Per Samuelsson

"The fourth quarter brought positive news, and some disappointments. While the IDC business area satisfied high expectations, the IAS business area made less positive progress than expected. Overall, this meant that the group posted a loss in the fourth quarter, and a clearly unsatisfactory full-year figure for 2015. The company will be executing far-reaching restructuring measures in IAS in order to create a secure platform for profitable future growth.

At the same time, IDC's positive performance in 2015 confirms that the business area is well positioned to hit its sales and profit targets in 2016 and 2017. The business area's ambitious investment and expansion program went as planned, particularly in the subsidiary Westermo. Sales for the year were above 500 MSEK, an important milestone for IDC. This implied growth of close to 20%. As previously announced, profit was reduced by major initiatives in product development and markets, and results are on target.

Westermo showed its strength as a world leader in the train segment in the fourth quarter, when Toshiba renewed a major order worth 4.2 MUSD for communication network equipment for the expansion of the Washington DC transit system. Westermo also won three new customers in the train segment in the period. Korenix secured a breakthrough order in the quarter for wireless networks for Taiwan Power. The order is worth 2.5 MSEK, with a 15 MSEK option in 2016.

The IAS business area faced a tough and challenging year on a difficult market, while also implementing savings programs. IAS was negatively affected by the substantial fall in demand in the US oil and gas sector, the termination of the Mitsubishi Electric contract and negative exchange rate effects, and sales dropped by just over 100 MSEK. It's positive that the 2014 savings program went to plan, but it did not compensate for the lower gross profit. As previously communicated, the terminated Mitsubishi contract has resulted in organizational changes that will take effect in 2016. A review of operations concluded that this will not be sufficient to achieve satisfactory profitability in the business area.

Fundamentally, IAS has a strong platform for achieving long-term positive and profitable growth. We have a presence on the right geographical markets and have already done a great deal in terms of software product development for our intelligent HMI solutions. However, there is a need to supplement our strategy and improve implementation. We will now address this by creating a more efficient and focused organization, increasing the proportion of customized products and prioritizing software.

Accordingly, we plan to introduce a further restructuring program for IAS in 2016, described in more detail under 'Significant events.' The cost of the program is estimated at 50 MSEK and will be charged to profit in the first quarter of 2016.

Business Area Sales and Operating Profit

	Sales Quarter 4			Operating Profit Quarter 4		Sales Full year	Operating Profit Full year
MSEK	1512	1412	1512	1412	1512	1412	1512	1412
Business Area IAS	184.5	229.4	-17.3	4.7	818.8	923.2	17.1 a)	81.3a). c)
Business Area IDC	150.4	136.0	10.4	13.6	567.6	483.0	49.7	57.8
Intra-group sales	-1.9				-11.8	-4.6
Group adjustments			-3.8	-4.4			-14.6b)	-25.5b)
Beijer Electronics Group	333.0	365.4	-10.7	13.9	1,374.6	1,401.6	52.2	113.6

a) of which restructuring expense -4.1 (-5.9) MSEK

b) of which non-recurring cost of -3.2 (-10.8) MSEK attributable to change of CEO

c) of which capital gain of 32.9 MSEK for sale of the US Vehicle business.

The program of measures is expected to generate cost savings of 50 MSEK annually, taking full effect in 2017.

We can conclude that our 30-year plus collaboration with Mitsubishi Electric is over. It's now important to focus on sales of proprietary products and services, which will provide more than 90% of our sales going forward. Our goal is for IAS to achieve continuous growth for the long term and return an operating margin of some 10%.

The group in the fourth quarter

The group's order intake was 343.1 MSEK (358.7) in the fourth quarter 2015. As in previous quarters of the year, the decrease is mainly due to a continued decline in orders for Mitsubishi Electric products and weak demand in the US oil and gas sector. Order intake declined in the IAS business area, while order intake increased sharply in the IDC business area. Group sales fell by 9% to 333.0 MSEK (365.4). Currencyadjusted, the figure declined by 12%. IDC's sales increased by 11%, while it fell by 20% in IAS. The decline in sales in IAS is due to reduced sales of Mitsubishi Electric products and lower demand from the US oil and gas sector.

Group operating profit before depreciation and amortization was 6.3 MSEK (30.1). Depreciation and amortization was 17.0 MSEK (16.2). Operating profit was -10.7 MSEK (13.9). Operating margin was -3.2% (3.8). The lower profit is mainly due to the large reduction in sales volumes in IAS. Total development costs were 34.6 MSEK (30.5).

Profit before tax was -12.4 MSEK (14.1). Net financial income/expense was -1.7 MSEK (0.2). Profit after estimated tax was -12.5 MSEK (8.9). Earnings per share after estimated tax were -0.66 SEK (0.47).

The group in the full year

Order intake decreased by 5% to 1,332.6 MSEK (1,398.2) in the full year 2015. Adjusted for the sale of the US Vehicle division in June 2014, the figure decreased by 3%.

Group Operating Profit

The bars and left-hand scale indicate quarterly sales. The curve and righthand scale show rolling four quarter sales.

The bars and left-hand scale indicate quarterly profit after depreciation. The curve and right-hand scale show rolling four quarter profit after depreciation.

Group Sales

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350

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MSEK Quarter Sales decreased by 2% to 1,374.6 MSEK (1,401.6). Excluding the sale of the Vehicle business, sales were unchanged. Adjusted for positive exchange rate effects, sales fell by 8%. IDC's sales increased by 18%, while the figure decreased by 11% in IAS.

Operating profit before depreciation and amortization was 115.5 MSEK (178.6). Depreciation and amortization was 63.3 MSEK (65.0). Operating profit was 52.2 MSEK (113.6 and 80.7 excluding capital gains). This corresponds to an operating margin of 3.8% (5.8). The profit reduction is mainly due to significantly lower sales and profit in IAS. However, the profit impact from reduced volumes has been limited by the 2014 savings program, which reduced costs by 32 MSEK currency adjusted in the year. The profit figure was also affected by negative exchange rate effects of 22.5 MSEK. Total development costs were 121.4 MSEK (113.5). This corresponds to 8.8% (8.1) of group sales. Profit before tax was 43.3 MSEK (96.8). Net financial income/expense was -8.9 MSEK (-16.8). Profit after estimated tax was 23.8 MSEK (62.7). Earnings per share after estimated tax were 1.26 SEK (3.24).

Dividend

The Board of Directors of Beijer Electronics is proposing an unchanged dividend of 1.25 SEK per share (1.25) for the financial year 2015.

We are now creating a solid platform to ensure a long-term, good and profitable growth in IAS.

per samuelsson, president and ceo.

Industrial Automation Solutions Business Area

The Industrial Automation Solutions (IAS) business area continued to struggle on a difficult market in the fourth quarter. Reduced demand in the US oil and gas sector, coupled with lower product sales from Mitsubishi Electric affected IAS harder than expected. At the same time, the overall market made relatively weak progress with a few exceptions, such as Asia. Overall, this led to a sharp reduction in order intake and sales, and IAS posted a loss in the quarter.

The savings program executed from the final quarter of 2014 went according to plan, reducing costs by 32 MSEK currency adjusted in 2015. The organizational changes implemented as a result of the terminated contract with Mitsubishi will take effect in 2016. As part of the restructuring process, the Finnish operations were sold at the end of the year, and the operations in the Baltics are expected to be divested in the first quarter of 2016, at book value. However, this is not expected to be sufficient to restore IAS to profitability. Accordingly, IAS will introduce a restructuring program that encompasses the marketing and sales organization, product development and manufacture (see also Significant events). The cost of the program is estimated at 50 MSEK and will be charged to profit in the first quarter of 2016. The program of measures is expected to generate cost savings of 50 MSEK annually, taking full effect in 2017.

Fourth quarter

Business area order intake decreased to 179.7 MSEK (225.5). Currency-adjusted order intake declined by 22%. Sales were 184.5 MSEK (229.4). Adjusted for exchange rate effects, sales decreased by 21%. The volume downturn is mainly due to the continued fall in sales of Mitsubishi Electric's products in the Nordics, and reduced demand from the US oil and gas sector. Operating profit before depreciation and amortization was -11.5 MSEK (11.2). Depreciation and amortization was 5.8 MSEK (6.5). Operating profit was -17.3 MSEK (4.7), corresponding to a margin of -9.4% (2.0).

Full year

Order intake was 798.4 (905.4). Adjusted for the sale of the US Vehicle division in 2014, order intake decreased by 10%. Sales fell by 11% to 818.8 MSEK (923.2). Adjusted for the sale in the US, sales dropped by 8%, of which reduced sales of Mitsubishi Electric's products represented 6%. Operating profit before depreciation and amortization was 38.3 MSEK (108.2). Depreciation and amortization was 21.3 MSEK (26.9). Operating profit was 17.1 MSEK (81.3). The 2014 profit figure included capital gains of 32.9 MSEK. Excluding this item, profit was 48.4 MSEK. This corresponded to a margin of 2.1% (5.2). The lower profit is due to lower sales volumes and negative exchange-rate effects.

Sales, IAS

and right-hand scale show rolling four quarter sales.

Sales by Geographical Market, IAS

The bars and left-hand scale indicate quarterly sales. The curve Sales by geographical market for the full year 2015 compared to 2014.

Industrial Data Communication business area

The Industrial Data Communication (IDC) business area continued to make very positive progress in the fourth quarter. Order intake increased by 23% and sales by 11%. Westermo received another major order from Toshiba for communication network equipment for trains. The order was a follow-on from previous shipments and emphasizes Westermo's global leadership in the field. Westermo also won three new customers in the train segment in the quarter. In the quarter, Korenix received a breakthrough order relating to wireless networks from Taiwan Power.

As expected, IDC's profit decreased as a result of the increased cost of the far-reaching investment program decided in fall 2014, mainly relating to the recruitment of development staff. In 2016, the emphasis will shift towards recruitment in marketing, sales and support, coupled with increased investments in production. Sales and profits for the quarter and the full year were according to plan. The positive progress in the IDC business area confirms the earlier assessment that IDC is set to reach its sales and profit targets in 2016 and 2017.

area's strongest to date. Order intake increased by 23% to 163.4 MSEK (133.2). Sales increased by 11% to 150.4 MSEK (136.0). Order intake and sales were positively affected by exchange rate effects. Operating profit before depreciation and amortization was 18.7 MSEK (20.6). Depreciation and amortization were 8.3 MSEK (7.0). Operating profit was 10.4 MSEK (13.6). This corresponded to an operating margin of 6.9% (10.0). The lower profit is due to the initiatives in sales and development under the far-reaching investment plan decided in fall 2014.

Full year

Order intake increased by 8% to 534.2 MSEK (492.8). Sales increased by 18% to 567.6 MSEK (483.0). Operating profit before depreciation and amortization was 80.3 MSEK (85.3). Depreciation and amortization was 30.6 MSEK (27.5). Operating profit was 49.7 MSEK (57.8), corresponding to an operating margin of 8.8% (12.0). The lower profit figure was due to increased sales and development initiatives in accordance with the decided investment plan.

Fourth quarter

IDC's order intake rose sharply and the quarter was the business

curve and right-hand scale show rolling four quarter sales.

The bars and left-hand scale indicate quarterly sales. The Sales by geographical market for the full year 2015 compared to 2014.

Other financial information

Group investments including capitalized development expenses and acquisitions amounted to 80.0 MSEK (60.1). The acquisition relates to the final payment to Mitsubishi Electric for 15% of the shares in the subsidiary Beijer Electronics Automation AB. Cash flow from operating activities was 84.7 MSEK (136.6). Equity was 521.0 MSEK (496.5) as of 31 December 2015. The equity ratio was 36.3% (33.6). Cash and cash equivalents were 116.6 MSEK (156.8). Net debt was 492.8 MSEK (498.8). The average number of employees was 752 (760).

Prospects for 2016

The challenge facing Beijer Electronics in 2016 is to reverse the trend in the IAS business area and implementing the forthcoming restructuring program. The IDC business area's success in 2015, coupled with the introduction of the far-reaching investment program has created a strong platform for sustained profitable growth. Given the lost sales from Mitsubishi Electric's products, Beijer Electronics is set to return lower sales in the first half year, while the second half is expected to be slightly stronger than in 2015. Overall, Beijer Electronics is expected to generate slightly lower sales and post a somewhat improved operating profit excluding non-recurring items for the full year 2016 compared to 2015.

Significant events

At the end of January 2016, Beijer Electronics' Board of Directors decided to initiate a restructuring program in the IAS business area. The cost of the measures is expected to amount to 50 MSEK, which will be charged to profit in the first quarter of 2016. The program is expected to generate cost savings of a 50 MSEK annually, taking full effect in 2017. 30 MSEK of savings will become effective in 2016.

The program includes an improved sales and marketing organization and rationalizations in manufacturing. The aim is to create a more customer-oriented and flexible organization with a clear focus on proprietary products. The long-term ambition is also to increase the proportion of software sales, focusing more on specific segments for robust terminals and concentrating resources on fewer markets and larger customers. More detailed information about the program will be communicated in the first quarter of 2016.

IAS began 2016 with pro forma sales of around 700 MSEK, i.e. excluding sales from Mitsubishi Electric's products in 2015. The purpose of the restructuring program is to create a solid platform for future profitable growth. IAS' long-term objective is to achieve organic growth of some 5%, and an operating margin of 10%. After the end of the financial year, on January 4, 2016, Beijer Electronics' Board of Directors convened an Extraordinary General Meeting to be held on January 28, 2016. The Board of Directors proposes that the EGM adopt a resolution to divest the group's subsidiaries in Estonia, Latvia and Lithuania to specified senior executives in the companies. The companies' sales totaled 18 MSEK in 2015. At the end of November, Beijer Electronics signed a final agreement relating to the divestment of the Finnish operations, which had sales of 50 MSEK in 2015. The transaction was completed at year-end. In future, UTU will act as distributor in Finland for Beijer Electronics' HMI products and other brands.

In November, Beijer Electronics appointed Joakim Laurén new CFO of the group. Joakim, who took up his position in mid January 2016, joins Beijer Electronics from his previous position as CFO of the SCAN COIN group, and has previously held senior positions in finance at Alfa Laval. In November,

Sales for the year were above 500 MSEK, an important milestone for IDC.

per samuelsson, president and ceo.

Beijer Electronics won a new major order from Toshiba International Corporation through its subsidiary Westermo in the IDC business area. The order relates to the delivery of network equipment totaling 4.2 MUSD – approximately 37 MSEK. The order consists of Ethernet-based network switches for trains for the new 7000 series ordered by the Washington Metropolitan Area Transit Authority (WMATA). The order, which was included in the groups order intake in the fourth quarter, is the second order from WMATA. Westermo won an order for a similar amount in 2012. Deliveries of the new order are expected to begin in the third quarter of 2016, and include equipment for a total of 384 rail cars. Toshiba delivers drive and control systems to Kawasaki, who then assembles the rail cars for WMATA.

In May 2015 Beijer Electronics' Board of Directors appointed Per Samuelsson (57) as new President and CEO. Per Samuelsson has held a similar position in the Strålfors group for 16 years. Strålfors was previously a listed company, but was bought out in 2006 by the group now known as PostNord. Per was previously a member of PLM's group management, in his capacity as Head of Division, and has held a number of senior positions in the Perstorp group. Per holds a M.Sc. (Econ.) from the Stockholm School of Economics. He took up his position on 1 September 2015. After just over 30 years of close collaboration between Mitsubishi Electric and Beijer Electronics, the two companies have decided to part ways as their respective strategies now differ significantly. This means that the existing distribution agreement was terminated at year-end 2015. The distribution agreement where Mitsubishi Electric sells Beijer Electronics' operator terminals under its own brand was also terminated at year-end 2015. The volume losses mean that Beijer Electronics is carrying out a review of its existing Nordic operations. In total, some 50 - 60 positions are affected of which around 20 - 30 in Sweden.

Accounting Principles

For the group, this Financial Statement has been prepared in accordance with IAS 34 Interim Financial Reporting and applicable regulations of the Swedish Annual Accounts Act. The Financial Statement for the parent company has been prepared in accordance with the Swedish Annual Accounts Act's chapter 9, Interim Reporting. The accounting principles applied for the group and parent company are consistent with those accounting principles used when preparing the latest annual accounts.

This Report has not been subject to review by the company's auditors.

Year in Summary

Income Statement—Group

	Quarter 4	Quarter 4	Full Year	Full Year
SEK 000	2015	2014	2015	2014
Net turnover	332,990	365,420	1,374,575	1,401,578
Other operating revenue	-3,329	3,878	9,656	40,579 d)
Operating expenses excluding depreciation	-323,330	-339,189 b)	-1,268,719 a) c)	-1,263,526 a) b)
and amortisation
Operating profit before depreciation	6,331	30,109	115,512	178,631
and amortization
Amortization, intangible assets	-11,161	-11,048	-41,727	-45,141
Depreciation, property, plant and equipment	-5,872	-5,162	-21,585	-19,878
Operating profit	-10,702	13,899	52,200	113,612
Net financial items	-1,685 e)	201	-8,860 e)	-16,831
Profit before tax	-12,387	14,100	43,340	96,781
Estimated tax	-88	-5,230	-19,523	-34,090
Net profit	-12,475	8,870	23,817	62,691
Attributable to equity holders of the parent	-12,545	8,970	23,957	61,725
Attributable to minority interest	70	-100	-140	966
Earnings per share, SEK	-0.66	0.47	1.26	3.24

a) of which non-recurring cost of -3.2 (-10.8) MSEK attributable to change of CEO

b) of which restructuring expense -5,862,000 SEK

c) of which restructuring expense -4,125,000 SEK

d) including capital gain of 32,936,000 SEK from the sale of Vehicle division in the US

e) including participating interest in associated company of -3.8 MSEK and adjustment of additional purchase price of 2,216,000 SEK

Statement of Comprehensive Income—Group

	Quarter 4	Quarter 4	Full Year	Full Year
SEK 000	2015	2014	2015	2014
Net profit	-12,475	8,870	23,817	62,691
Actuarial gains and losses	11,243	-5,756	10,854	-13,293
Translation differences	-4,019	29,778	13,216	81,160
Comprehensive income	-5,251	32,892	47,887	130,558
Attributable to equity holders of the parent	-5,353	32,826	48,266	129,002
Attributable to minority interest	102	66	-379	1,556

Balance Sheet—Group

SEK 000	Dec 31, 2015	Dec 31, 2014
Assets
Intangible assets	718,321	701,164
Property, plant and equipment	83,493	83,642
Financial assets	107,860	109,957
Current assets	426,694	444,865
Cash equivalents and short-term investments	116,636	156,842
Total assets	1,453,004	1,496,470
Liabilities and shareholders' equity
Shareholders' equity	520,963	496,531
Minority share of shareholders' equity	5,977	6,356
Long-term liabilities	530,963	504,430
Current liabilities	395,101	489,153
Total liabilities and shareholders' equity	1,453,004	1,496,470
Of which interest-bearing liabilities	609,453	655,597

Statement of Changes to Shareholders' Equity—Group

SEK 000	Dec 31, 2015	Dec 31, 2014
Attributable to equity holders of the parent
Opening balance, shareholders' equity, 1 January	496,531	391,363
Dividend	-23,834	-23,834
Comprehensive income	48,266	129,002
Closing balance, shareholders' equity	520,963	496,531
Attributable to non-controlling interests
Opening balance, 1 January	6,356	4,800
Comprehensive income	-379	1,556
Closing balance	5,977	6,356

Key Figures—Group

	Dec 31, 2015	Dec 31, 2014
Operating margin, %	3.8	8.1
Profit margin, %	1.7	4.5
Equity ratio, %	36.3	33.6
Shareholders' equity per share, SEK	27.3	26.0
Earnings per share, SEK	1.26	3.24
Return on equity after tax, %	4.6	13.9
Return on capital employed, %	4.8	10.3
Return on net operating assets, %	7.4	17.7
Average number of employees	752	760

Cash Flow Statement—Group

SEK 000	Dec 31, 2015	Dec 31, 2014
Cash flow from operating activities before changes in working capital	78,676	115,582
Change in working capital	5,983	21,063
Cash flow from operating activities	84,659	136,645
Cash flow from investing activities	-79,965	-60,093
Cash flow from finance activities	-23,246	-56,687
Dividends paid	-23,834	-23,834
Change in cash equivalents	-42,386	-3,969
Cash equivalents and short-term investments, opening balance	156,842	147,926
Exchange rate change, cash equivalents	2,180	12,885
Cash equivalents and short-term investments, closing balance	116,636	156,842

Operating Segments

SEK 000	Quarter 4	Quarter 4	Full Year	Full Year
Net turnover	2015	2014	2015	2014
IAS	184,508	229,437	818,790	923,206
IDC	150,421	135,943	567,601	483,037
Group adjustments	-1,939	40	-11,816	-4,665
Group	332,990	365,420	1,374,575	1,401,578
Operating profit before depreciation and amortization
IAS	-11,474	11,150 e)	38,310 a)	108,182 d) e)
IDC	18,710	20,645	80,314	85,289
Parent company	-2,624	-2,646	-7,833 b)	-18,691 c)
Group adjustments	1,719	960	4,721	3,851
Group	6,331	30,109	115,512	178,631
Operating profit
IAS	-17,302	4,731	17,050	81,256
IDC	10,393	13,596	49,722	57,799
Parent company	-4,531	-4,335	-15,104	-25,538
Group adjustments	738	-93	532	95
Group	-10,702	13,899	52,200	113,612

a) of which restructuring expense -4,125,000 SEK

b) of which non-recurring item of -3,200,000 SEK attributable to change of CEO

c) of which non-recurring item of -10,800,000 SEK attributable to change of CEO

d) of which capital gain from sale of Vehicle division in the US 32,936,000 SEK

e) of which restructuring expense -5,862,000 SEK

Income Statement—Parent Company

SEK 000	Quarter 4 2015	Quarter 4 2014	Full Year 2015	Full Year 2014
Net turnover	15,398	15,323	61,593	61,295
Operating expenses	-19,929	-19,658	-76,697 a)	-86,833 a)
Operating profit	-4,531	-4,335	-15,104	-25,538
Net financial items *	7,354	2,564	47,703	58,787
Profit before tax	2,823	-1,771	32,599	33,249
Appropriations	13,966	8,757	14,754	10,913
Estimated tax	-2,397	-1,302	-1,557	335
Net profit	14,392	5,684	45,796	44,497
* Of which dividend from subsidiaries	46,814	0	46,814	53,699

a) of which non-recurring cost of -3,200,000 (-10,800,000) MSEK

attributable to change of CEO

Balance Sheet—Parent Company

SEK 000	Dec 31, 2015	Dec 31, 2014
Assets
Fixed assets	796,223	803,052
Current assets	39,257	33,386
Cash equivalents and short-term investments		6,591
Total assets	835,480	843,029
Liabilities and shareholders' equity
Shareholders' equity	163,075	141,113
Untaxed reserves		1,050
Long-term liabilities	497,988	422,684
Current liabilities	174,417	278,182
Total liabilities and shareholders' equity	835,480	843,029
Of which interest-bearing liabilities	518,930	555,171

Beijer Electronics AB (publ)

Beijer Electronics is a fast-growing technology company active in industrial automation and data communications. The company develops and markets products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group present in 19 countries. The company is listed on NASDAQ OMX Nordic Exchange Small Cap list under the ticker BELE.

More Information

You can subscribe for financial information on Beijer Electronics via e-mail. Subscribe easily at our website, www.beijerelectronics.se. If you have any questions about the Beijer Electronics group, please call +46 (0)40 35 86 00, or send an email: info@beijerelectronics.se.

Financial Calendar

4 April 2016Annual Report 2015
26 April 2016Three-month Interim Report
26 April 2016AGM
14 July 2016…Six-month Interim Report
20 October 2016Nine-month Interim Report

Prestigious order from Toshiba

The success for our IDC business area continues. In November Westermo was awarded a 4.2 MUSD order from Toshiba International Corporation for the supply of communication network equipment. The Ethernet based train switches will be used to build the communication infrastructure on the new fleet of Series 7000 Rail Cars for the Washington Metropolitan Area Transit Authority (WMATA).

Read more at www.beijerelectronics.com

Head office

Beijer Electronics AB (publ) Box 426, Stora Varvsgatan 13a 201 24 Malmö, Sweden Corp. ID no. 556025-1851 www.beijerelectronics.se | +46 (0)40 35 86 00