Beijer Electronics Group — Interim / Quarterly Report 2014

Jan 30, 2015

JANUARY 1—DECEMBER 31, 2014

Positive Sales and Profit Performance–Record Year for IDC

Fourth Quarter

• • Order intake increased by 2% to 358.7 MSEK (352.4), or 10% adjusted for the sale of the Vehicle division.
• • Net sales were 365.4 MSEK (366.3). Adjusted for the divested Vehicle division, this represents an increase of 9%.
• • Operating profit was 13.9 MSEK (20.0) including non-recurring costs of 12.9 MSEK (5.6). Excluding non-recurring costs, profit was 26.8 MSEK (25.6).
• • Profit after tax was 8.9 MSEK (8.5).
• • Earnings per share were 0.47 SEK (0.43).
• • Program of measures for the IAS business area announced in the period.

Full Year 2014

• • Order intake was 1,398.2 MSEK (1,401.6), or 4% adjusted for the sale of the Vehicle division.
• • Net sales rose by 2% to 1,401.6 MSEK (1,376.2). Adjusted for the divested Vehicle division, this represents an increase of 6%.
• • Operating profit increased to 113.6 MSEK (87.4) including a capital gain of 32.9 MSEK and nonrecurring costs of 23.7 MSEK (5.6). Excluding the capital gain and non-recurring costs, profit was 104.4 MSEK (93.0).
• • Profit after tax amounted to 62.7 MSEK (44.4).
• • Earnings per share were 3.24 SEK (2.32).
• • The Board of Directors proposes a dividend of 1.25 SEK per share (1.25).
• • Major strategic initiative in the IDC business area.

Financial Statement, Beijer Electronics AB

Comments from Acting CEO Anna Belfrage

"Overall, Beijer Electronics made more positive progress in the fourth quarter. Order intake and sales increased by some 10%, adjusted for the divested Vehicle division in the US. Adjusted for non-recurring costs, operating profit also increased somewhat in the quarter. As previously reported, profit was charged with restructuring expenses. Additionally, profit was charged with non-recurring costs totaling 7 MSEK, for a terminated customer project, and a fire at a supplier.

The IDC business area continued to perform very convincingly, increasing order intake and sales by about 20%, and increasing profit by over 30%. So overall, 2014 was a record year for IDC in terms of sales and profits. Sales were nearly half a billion Swedish kronor, and operating profit was nearly 60 MSEK. A robust order book and positive underlying growth indicates continued positive progress in 2015.

The major strategic initiativewithin IDC, which was decided on last fall, commenced in the fourth quarter, with several new hirings. This initiative involves total investments of 188 MSEK in product development and markets over a three-year period, of which 175 MSEK in Westermo. The aim is for IDC to achieve sales approaching 800 MSEK and an operating margin of over 14% by 2017. Growing this business so quickly is a challenge, especially in terms of staff hiring. The major investments are 'up-front,' and are also expected to have some impact on IDC's profitability in 2015.

To help manage this major initiative, and support Westermo's management, Beijer Electronics has decided to appoint an executive board for Westermo. This includes Bo Elisson and Ulrika Hagdahl, who are also members of the Group Board, the President of Westermo and CEO of Beijer Electronics. After a difficult year, the IAS business area was able to report some positive signals in the fourth quarter. Order intake and sales increased in this period, adjusted for the divested Vehicle division. Progress in countries including the US, China and Turkey wereespecially positive, with all these markets achieving solid double-digit growth. Apart from the Nordics, Europe progressed positively. Asia—excluding China—and the Nordics saw another year of declining volumes, but this is consistent with expectations. Thelower profit is a disappointment, but is due to the aforementioned non-recurring costs. Adjusted for these items, profit increased somewhat.

As a whole, IAS has not achieved expected sales volumes in recent years, which has resulted in the gradual erosion of profitability. To restore profitability over a three-year period, we announced a program of measures for IAS in October. The program includes cost-cutting measures, and in theinitial phase, isexpected to improveIAS' profit by 25 MSEK in 2015. Implementation of this program commenced in the quarter, and has gone to plan. In 2015, the IDC business area will focus on delivering in accordance with its approved investment

	Sales Quarter 4			Operating Profit Quarter 4		Sales Full year	Operating Profit Full year
MSEK	1412	1312	1412	1312	1412	1312	1412	1312
Business Area IAS	229.4	256.2	4.7	10.6	923.2	970.9	81.3	58.2
Business Area IDC	136.0	111.1	13.6	10.3	483.0	409.0	57.8	37.9
Intra-group sales		-1.0			-4.6	-3.7
Group adjustments			-4.4	-0.9			-25.5	-8.7
Beijer Electronics Group	365.4	366.3	13.9	20.0	1,401.6	1,376.2	113.6	87.4

Business Area Sales and Operating Profit

plan, while the IAS business area will prioritize measures to improve profitability. Overall, we think the group will be able to increase sales and improve operating profit in the full year 2015, even if the first half-year is subject to low profitability in IDC, and structural costs within IAS."

Market and Surrounding World

The global industrial automation market made a slow recovery in thefourth quarter. At thesametime, thereis still substantial uncertainty on many markets. The American market achieved healthy growth, while in Europe the outlook was divided, as previously, with good demand on some markets, and restrained demand on others. Asia featured some irregularity. 400 1,600

The Group in the Fourth Quarter

The group's order intake increased by 2% to 358.7 MSEK (352.4) in thefourth quarter. Adjusted for theVehicle division in the US, sold in June, order intake was up by 10%. A weaker 250 300 1,000 1,200

Swedish krona had a positive impact on order intake. Order intake in the IDC business area continued to increase sharply, and was up by 5% within IAS, adjusted for theVehicle division.

Group sales were unchanged at 365.4 MSEK (366.3). Adjusted for the Vehicle division, sales increased by 9%. Sales were positively affected by the weaker Swedish krona. IDC's sales grew by 22%, while IAS' sales decreased by 11% due to thesalein the US. Adjusted for the Vehicle division, IAS' sales increased by 2%. Sales remained restrained in the Nordics, but increased in the rest of Europe. Sales in the US continued to make positive progress. Sales in Asia decreased somewhat.

Group operating profit before depreciation and amortization was 30.1 MSEK (36.4). Depreciation and amortization was 16.2 MSEK (16.4). Operating profit was 13.9 MSEK (20.0). Profit was charged with non-recurring costs of 12.9 MSEK (5.6). Excluding non-recurring costs, operating profit was 26.8 MSEK (25.6). This corresponded to an operating margin of 7.3% (7.0). Total development expenses were 30.5 MSEK

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 50

(30.0), or 8.3% (8.2) of group sales.

Non-recurring costs consist of three items in the IAS business area, of which 5.9 MSEK are restructuring expenses and 2.0 SEK relate to a fire with a critical supplier. A terminated customer project resulted in profit being charged with 5.0 MSEK. This project, which was conducted for three years, was outside IAS' core business, and Beijer Electronics has decided to conclude it jointly with the customer. Profit before tax was 14.1 MSEK (16.2). Net financial income/expense was 0.2 MSEK (-3.8). Profit after estimated tax was 8.9 MSEK (8.5). Earnings per share after estimated tax were 0.47 SEK (0.43).

The Group in the Full Year

Order intake was 1,398.2 MSEK (1,401.6). A weaker Swedish krona had a positive impact, while the sale of the Vehicle division had a negativeeffect. TheIDC business area's order intake increased sharply, while it decreased in IAS.

Group sales rose by 2% to 1,401.6 MSEK (1,376.2). The sale of the Vehicle division had a negative sales impact of 54 MSEK. Adjusted for this, group sales increased by 6%. IDC's sales were up by 18%, while IAS' sales decreased by 5%. Group operating profit before depreciation and amortization was 178.6 MSEK (151.3). Depreciation and amortization was 65.0 MSEK (63.9). Operating profit including capital gains and non-recurring costs was 113.6 MSEK (87.4). Excluding the capital gain of 32.9 MSEK and non-recurring costs of 23.7 MSEK (5.6), operating profit was 104.4 MSEK (93.0), corresponding to an operating margin of 7.5% (6.8). The underlying profit improvement is due to somewhat higher sales volumes. Total development expenses were 113.5 MSEK (109.7), or 8.1% (8.0) of group sales.

The non-recurring costs of 23.7 MSEK have the following components: 10.8 MSEK of severance pay to a former President, 5.9 MSEK of restructuring expenses, 5.0 MSEK relating to a terminated customer project and 2.0 MSEK relating to a fire with a supplier.

Profit before tax increased to 96.8 MSEK (71.9). Net financial income/expense was -16.8 MSEK (-15.5). Profit after estimated tax amounted to 62.7 MSEK (44.4). Earnings per share after estimated tax were 3.24 SEK (2.32).

Dividend

The Board of Directors is proposing a dividend of 1.25 SEK per share (1.25) for the financial year 2014.

Industrial Automation Solutions Business Area

The market for Industrial Automation Solutions' (IAS) products remained divided between various constituent markets. Adjusted for thesale of theVehicle operation, order intake and sales in the US increased sharply. The Nordics remained weak, while order intake in the rest of Europe increased briskly. In Asia, order intake increased, while sales decreased. The new robust operator terminals have made positive progress. For an extended period, IAS has achieved insufficient profitability, and accordingly, in October, the group announced a program of measures to restore business area profitability over a threeyear period. In the initial phase, the measures are expected to increase IAS' profit by 25 MSEK in 2015. Implementation of the program commenced in thefourth quarter, and profit was charged with 5.9 MSEK of restructuring expenses.

Fourth Quarter

Business area order intake decreased by 7% to 225.5 MSEK (241.2). Adjusted for the sale of the Vehicle division, order intake increased by 5%. Sales decreased by 10% to 229.4 MSEK (256.2). Adjusted for the Vehicle division, sales increased by 2%. Operating profit before depreciation and amortization was 11.2 MSEK (17.8). Depreciation and amortization were 6.5 MSEK (7.2). Operating profit was 4.7 MSEK (10.6), corresponding to an operating margin of 2.0% (4.1). Adjusted for non-recurring costs of 12.9 MSEK (5.6), quarterly profit increased to 17.6 MSEK (16.2), corresponding to an operating margin of 7.7% (6.3).

Full Year

Order intake was 905.4 MSEK (971.0). Adjusted for the sale of the Vehicle division, order intake increased by 1%. Sales decreased by 5% to 923.2 MSEK (970.9). Adjusted for the Vehicle division, sales increased by 2%. Operating profit before depreciation and amortization increased to 108.2 MSEK (85.7) including a capital gain of 32.9 MSEK. Depreciation and amortization were 26.9 MSEK (27.5). Operating profit was 81.3 MSEK (58.2) including the capital gain. Adjusted for the capital gain and non-recurring costs of 12.9 MSEK (5.6), operating profit was 61.3 MSEK (63.8), equivalent to an operating margin of 6.6% (6.6).

Sales, IAS

and right-hand scale show rolling four quarter sales.

The bars and left-hand scale indicate quarterly sales. The curve Sales by geographical market for the full year 2014 compared to 2013.

Industrial Data Communication Business Area

Industrial Data Communication (IDC) achieved major successes in 2014, achieving a new record year in terms of order intake, sales and profit. This very positive progress was underscored in thefourth quarter with several major orders in segments including Rail. Westermo has also achieved preferred supplier status with two global corporations. Simultaneously, the number of tender enquiries on major projects progressed positively. Implementation of the major 188 MSEK strategic, three-year investment initiative in product development and the marketing organization, which Beijer Electronics decided on in September, commenced in the fourth quarter. Several new hirings—mainly in R&D—have already been completed, in Westermo and Korenix. Accordingly, IDC has entered an intensiveinvestment phase, which will affect the business area's profitability in the short term.

Fourth Quarter

IDC's order intakerose by 20% to 133.2 MSEK (111.2). Sales increased by 22% to 135.9 MSEK (111.1). Operating profit before depreciation and amortization increased to 20.6 MSEK (17.1). Depreciation and amortization were 7.0 MSEK (6.8). Operating profit increased by 32% to 13.6 MSEK (10.3), corresponding to an operating margin of 10.0% (9.3).

Full Year

Order intake rose by 14% to 492.8 MSEK (430.6). Sales increased by 18% to 483.0 MSEK (409.0). Operating profit before depreciation and amortization rose by 33% to 85.3 MSEK (64.3). Depreciation and amortization amounted to 27.5 MSEK (26.4). Operating profit increased by 53% to 57.8 MSEK (37.9), corresponding to an operating margin of 12.0% (9.3).

MSEK Rolling four quarters MSEK Quarter 0 25 50 75 100 125 0 90 180 270 360 450 150 540 1 2 3 4 1 2 3 4 1 2 3 4 1 2 3 4

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

2011 2012 2013 2014

Sales, IDC Sales by Geographical Market, IDC

The bars and left-hand scale indicate quarterly sales. The Sales by geographical market for the full year 2014 compared to 2013.

Other Financial Information

Group investments including capitalized developmentexpenses and acquisitions amounted to 60.1 MSEK (140.9) in the full year 2014. Cash flow from operating activities before changes in working capital was 115.6 MSEK (115.8). Equity was 496.5 MSEK (391.4) as of December 31, 2014. The equity ratio was 33.6% (27.2). Cash and cash equivalents were 156.8 MSEK (147.9). Net debt was 498.8 MSEK (559.9).The average number of employees was 760 (776).

Prospects for 2015

In the full year 2014, Beijer Electronics was able to increase sales and improve operating profit before and after adjustment for various non-recurring items. For 2015, Beijer Electronics judges that IDC will be able to maintain continued high growth, while it expects IAS to increase sales somewhat. The group is commencing its major initiative in IDC, which will affect profit in 2015. Meanwhile, it anticipates the restructuring program in IAS having its expected effect. Overall, Beijer Electronics expects to increase operating profit in the full year 2015.

Significant Events

In October, Beijer Electronics announced a program of measures in the IAS business area. Business area sales have not progressed asexpected in recent years, which has had a negative impact on profitability. To restore profitability over a threeyear period, IAS initiated a program to cut costs. In an initial phase, IAS' profit isexpected to increase by 25 MSEK in 2015. Primarily, expenses for this restructuring will be charged to fourth-quarter profit, although also to the first half-year 2015.

In September, Beijer Electronics announced a major strategic initiative in the IDC business area. The measures encompass some 188 MSEK over three-year period, of which 175 MSEK in Westermo, focusing on increased product development and strengthening the marketing organization. The initiative is largely internally funded. The aim is to increase growth further from the current 450 MSEK or so in annual sales to closer to 800 MSEK, and to achieve an operating margin of over 14% in 2017.

IDC's total addressable market amounts to almost SEK 10 billion with expected annual growth in excess of 10%.Companies like Hirschmann and RuggedCom are the main competitors. Westermo has had major successes with its robust industrial data communication solutions. The announced measures will broadenWestermo's product portfolio in MissionCritical Edge Networks and Westermo IPTrain.Total headcount isexpected to increase by 50, of which 20 in product development and the remainder in marketing.

On September 15, Beijer Electronics announced that CEO and President Fredrik Jönsson was resigning and leaving the company. Beijer Electronics' CFO Anna Belfrage was appointed Acting CEO and President on the same day.

In June 2014, Beijer Electronics sold the USVehicle division of the IAS business area to Israeli company Micronet. This sale was a component of the strategy of focusing on Beijer Electronics' core businesses—Industrial operator panels and industrial data communication.

This transaction produced a capital gain of 32.9 MSEK before tax. Management judges that the sold operation will reduce the group's annualized sales by some 70 MSEK going forward. It judges the effect on future operating profit as marginal.

The transaction did not imply any major changes to the group's or the IAS business area's fixed assets. This capital gain is included in other operating revenue in the Consolidated Income Statement.

At year-end 2013, Beijer Electronics implemented a new global organization, which altered its reporting from three business areas to two—Industrial Automation Solutions (IAS) and Industrial Data Communication (IDC). TheIAS business area was formed from the Automation and HMI Products business areas. These changes are a consequence of Beijer Electronics re-purchasing 15% of Automation from Mitsubishi Electric in 2013. Automation also launched an extended Beijer Electronics-branded product range, for global sale. Numbers from the previous year have been restated to comply with the new reporting.

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

SEK 000	Quarter 4	Quarter 4	Full Year	Full Year
	2014	2013	2014	2013
Net turnover	365,420 e)	366,333	1,401,578 e)	1,376,187
Other operating revenue	3,878	1,160	40,579,c)	1,509
Operating expenses excluding depreciation and amortisation	-339,189 a)	-331,112 b)	-1,263,526 d)	-1,226,383
Operating profit before depreciation and amortization	30,109	36,381	178,631	151,313
Amortization, intangible assets	-11,048	-11,778	-45,141	-46,182
Depreciation, property, plant and equipment	-5,162	-4,584	-19,878	-17,764
Operating profit	13,899	20,019	113,612	87,367
Net financial items	201	-3,838	-16,831	-15,493
Profit before tax	14,100	16,181	96,781	71,874
Estimated tax	-5,230	-7,676	-34,090	-27,508
Net profit	8,870	8,505	62,691	44,366
Attributable to equity holders of the parent	8,970	8,275	61,725	44,218
Attributable to minority interest	-100	230	966	148
Earnings per share, SEK	0,47	0,43	3,24	2,32

a) Of which restructuring expense -5,862,000 SEK

b) Of which restructuring expense -5,633,000 SEK

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

d) Of which non-recurring cost of -10,800,000 SEK relating to a change of President

e) Of which lower sales due to the divested Vehicle division, -32 MSEK in the quarter, -54 MSEK for the full year

Statement of Comprehensive Income—Group

SEK 000	Quarter 4	Quarter 4	Full Year	Full Year
	2014	2013	2014	2013
Net profit	8,870	8,505	62,691	44,366
Actuarial gains and losses	-5,756	1,800	-13,293	9,714
Translation differences	29,778	3,649	81,160	-11,706
Comprehensive income	32,892	13,954	130,558	42,374
Attributable to equity holders of the parent	32,826	13,705	129,002	41,399
Attributable to minority interest	66	249	1,556	975

Balance Sheet—Group

SEK 000	Dec 31, 2013	Dec 31, 2012
Assets
Fixed assets	894,763	850,863
Current assets	444,865	458,020
Cash equivalents and short-term investments	156,842	147,926
Total assets	1,496,470	1,456,809
Liabilities and shareholders' equity
Shareholders' equity	496,531	391,363
Minority share of shareholders' equity	6,356	4,800
Long-term liabilities	504,430	544,766
Current liabilities	489,153	515,880
Total liabilities and shareholders' equity	1,496,470	1,456,809
Of which interest-bearing liabilities	655,597	707,776

Statement of Changes to Shareholders' Equity—Group

SEK 000	Dec 31, 2014	Dec 31, 2013
Attributable to equity holders of the parent
Opening balance, shareholders' equity, 1 January	391,363	415,843
Change of accounting principle		-31,443
New share issue		45
Other paid-up capital		8,049
Dividend	-23,834	-23,668
Acquisitions		-18,862
Comprehensive income	129,002	41,399
Closing balance, shareholders' equity	496,531	391,363
Minority interest
Opening balance, 1 January	4,800	21,316
Acquisitions
Dividend		-17,491
Comprehensive income	1,556	975
Closing balance	6,356	4,800

Key Figures—Group

	Dec 31, 2014	Dec 31, 2013
Operating margin, %	8.1	6.3
Profit margin, %	4.5	3.2
Equity ratio, %	33.6	27.2
Shareholders' equity per share, SEK	26.0	20.5
Earnings per share, SEK	3.24	2.32
Return on equity after tax, %	13.9	11.1
Return on capital employed, %	10.3	8.8
Return on net operating assets, %	17.7	14.0
Average number of employees	760	776

Cash Flow Statement—Group

SEK 000	Dec 31, 2014	Dec 31, 2013
Cash flow from operating activities before changes in working capital	115,582	115,803
Change in working capital	21,063	92,107
Cash flow from operating activities	136,645	207,910
Cash flow from investing activities	-60,093	-140,871
Cash flow from finance activities	-56,687	-20,187
Dividends paid	-23,834	-23,668
Change in cash equivalents	-3,969	23,184
Cash equivalents and short-term investments, opening balance	147,926	128,469
Exchange rate change, cash equivalents	12,885	-3,727
Cash equivalents and short-term investments, closing balance	156,842	147,926

Operating Segments

SEK 000	Quarter 4 2014	Quarter 4 2013	Full Year 2014	Full Year 2013
Net turnover
IAS	229,437 e)	256,206	923,206 e)	970,928
IDC	135,943	111,094	483,037	409,048
Group adjustments	40	-967	-4,665	-3,789
Group	365,420	366,333	1,401,578	1,376,187
Operating profit before depreciation and amortization
IAS	11,150 a)	17,759 b)	108,182 c)	85,714
IDC	20,645	17,078	85,289	64,292
Parent company	-2,646	-763	-18,691 d)	-6,110
Group adjustments	960	2,307	3,851	7,417
Group	30,109	36,381	178,631	151,313
Operating profit
IAS	4,731	10,608	81,256	58,174
IDC	13,596	10,321	57,799	37,887
Parent company	-4,335	-2,429	-25,538	-12,919
Group adjustments	-93	1,519	95	4,225
Group	13,899	20,019	113,612	87,367

a) Of which restructuring expense -5,862,000 SEK

b) Of which restructuring expense -5,633,000 SEK

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

d) Of which non-recurring cost of -10,800,000 SEK relating to a change of President

e) Of which lower sales due to the divested Vehicle division, -32 MSEK in the quarter, -54 MSEK for the full year

Income Statement—Parent Company

SEK 000	Quarter 4 2014	Quarter 4 2013	Full Year 2014	Full Year 2013
Net turnover	15,323	15,175	61,295	60,701
Operating expenses	-19,658	-17,604	-86,833 b)	-73,620
Operating profit	-4,335	-2,429	-25,538	-12,919
Net financial items a)	2,564	9,496	58,787	55,024
Profit before tax	-1,771	7,067	33,249	42,105
Appropriations	8,757	24,941	10,913	27,896
Estimated tax	-1,302	-968	335	-1,383
Net profit	5,684	31,040	44,497	68,618
a) Of which dividend from subsidiaries	0	12,000	53,699	66,959

b) Of which non-recurring cost of -10,800,000 SEK relating

to a change of President

Balance Sheet—Parent Company

SEK 000	Dec 31, 2014	Dec 31, 2013
Assets
Fixed assets	803,052	843,683
Current assets	33,386	47,674
Cash equivalents and short-term investments	6,591	11,958
Total assets	843,029	903,315
Liabilities and shareholders' equity
Shareholders' equity	141,113	120,450
Untaxed reserves	1,050	3,925
Long-term liabilities	422,684	500,213
Current liabilities	278,182	278,727
Total liabilities and shareholders' equity	843,029	903,315
Of which interest-bearing liabilities	555,171	626,064

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

April 7, 2015 Annual Report 2014
April 22, 2015Three-month Interim Report
April 22, 2015 Annual General Meeting
July 14, 2015Six-month Interim Report
October 21, 2015 Nine-month Interim Report

From bridge to engine room

Beijer Electronics has launched iX T15BM and iX T7AM, two fully certified marine operator panelswith high-resolution touch-screen and robust design. Benefits include classic marinefeatures such as dimmable backlight and high brightness display.TheiX HMI Software provides reliable operation and almost limitless connectivity.

Read more at www.beijerelectronics.com/marine

Huvudkontor Beijer Electronics AB (publ) Box 426, Stora Varvsgatan 13a 201 24 Malmö, Sverige Org nr 556025-1851 www.beijerelectronics.se | +46 40 35 86 00