Year-end Report 2012/13

1 April 2012 – 31 March 2013 (12 months)

Net revenue for 2012/13 increased by 3 percent to 2,328 MSEK (2,265). Organic growth measured in local currency was –3 percent for comparable units.
Operating profit increased by 16 percent to MSEK 213 (184), equivalent to an operating margin of 9.1 percent (8.1).
Profit after finance items increased by 17 percent to MSEK 200 (171), an all-time high since the listing on the stock exchange. The improvement in earnings was primarily an effect of acquisitions, measures to improve margins, and successful restructuring actions.
Four acquisitions were made during the 2012/13 financial year, with aggregate annual revenue of approximately MSEK 250.
Profit after taxes, MSEK 159 (126), was positively affected by a one-time effect estimated to be MSEK 10 (SEK 0.44 per share) due to a new corporate tax rate in Sweden.
Earnings per share after dilution increased by 26 percent and amounted to SEK 7.07 (5.63).
The return on equity was 24 percent (22). The equity ratio at the end of the period under review was 44 percent (46).
The Board of Directors propose an increase of the dividend to SEK 3.25 (2.75) per share.

1 January – 31 March 2013 (fourth quarter)

Net revenue for the fourth quarter increased by 3 percent to MSEK 619 (602), equivalent to organic growth of –5 percent for comparable units, adjusted for currency effects.
Operating profit increased by 13 percent to MSEK 59 (52). The operating margin increased to 9.5 percent (8.6).
Profit after finance items increased by 12 percent to MSEK 54 (48).

Lagercrantz Group AB (publ) PO Box 3508 SE-103 69 Stockholm, Sweden Phone: +46-8-700 66 70 Fax: +46-8-28 18 05 Corporate ID number: 556282-4556 Registered office: Stockholm www.lagercrantz.com

STATEMENT OF THE CEO

ANOTHER SUCCESSFUL YEAR FOR LAGERCRANTZ GROUP

The 2012/13 operating year was a year of several new records for Lagercrantz Group. Profit after finance items reached the MSEK 200 level for the first time. This has been something of a dream frontier ever since the listing in 2001. The year also brought new all-time highs for operating margin (EBIT, percent), which reached 9.1 percent (8.1), and for return on equity which grew to 24 percent (22). Earnings per share increased by 26 percent during the year to SEK 7.07 (5.63).

Behind these successes lies the strategy that we have been pursuing consistently over the past several years. The corporate governance model, with independent profit centres guided by management by objective close to customers and the market, is now well established. The niche strategy, which means that each subsidiary seeks a market-leading position in well-defined submarkets, is also firmly in place. This means that Lagercrantz today consists of 31 companies, each of them strong in their respective market niche, and as a group making for great risk diversification for the owner.

Corporate acquisitions are an important strategy for Lagercrantz. We are always on the lookout for wellmanaged, profitable B2B technology companies. We usually find our acquisition candidates among successful, owner-managed companies seeking a good environment for the next step in their development. What we offer is a financially strong and stable environment where the company can continue to thrive under its own brand and a long-term owner without ambitions to sell the company in a few short years. Four more companies were acquired during the 2012/13 financial year, adding just short of MSEK 250 in business volume on an annual basis.

In our quest to increase value added, we have increasingly acquired product companies in recent years. The proportion of proprietary products is today more than 30 percent of total sales. During the 2012/13 financial year, we took an important step in furtherance of this ambition by creating a fourth division, Niche Products. This division initially took over three subsidiaries that were moved from Mechatronics. During the year, we then acquired two businesses and the division today consists of five product companies, each of which is a leader in its niche. The build-up so far looks very exciting for the future of Lagercrantz Group.

I will end the year by extending my heart-felt thanks to all our dedicated associates for their outstanding work and many fine efforts during the year.

Future

Lagercrantz Group's successes during the past years make us proud. Our strategy works and we are convinced that our ambition of a growing proportion of proprietary products will strengthen the Group further.

Despite a turbulent world around us, we feel well prepared to capitalize on the opportunities that may present themselves. We will continue to adapt our strategies and actions locally in each of our subsidiaries and we intend to acquire additional successful companies who wish to become a part of Lagercrantz Group. Ultimately, we see a Lagercrantz Group that consists of an even larger bouquet of highly niched technology companies, each of them a leader in their respective area.

May 2013

Jörgen Wigh President & CEO

NET REVENUE AND PROFIT

12 months April 2012 – March 2013

For the 2012/13, financial year (1 April 2012 -31 March 2013) consolidated net revenue increased by 3 percent to MSEK 2,328 (2,265). Acquired units contributed with MSEK 189, which puts organic growth at –3 percent for comparable units, measured in local currency.

The overall business was stable during the financial year. Sales during the early part of the year were in line with the year before. Whereupon the situation deteriorated marginally during the autumn of 2012 due to the then current economic situation in Europe. This was gradually compensated for by acquired business volume. During the latter part of the year, the business situation stabilized again.

The best development was seen in the Scandinavian countries, but it was slightly lower in Finland and Germany. Unfavourable calendar effects affected the third quarter of the financial year as a result of an extended Christmas holiday. The financial year was also affected negatively by two periods of Easter leave in April 2012 and March 2013.

Operating profit for the financial year amounted to MSEK 213 (184), equivalent to an increase of 16 percent. The operating margin grew by 1 percentage point to 9.1 percent (8.1). The currency effect on operating profit was MSEK –2 (–1) during the financial year.

Profit after finance items for the financial year increased by 17 percent to MSEK 200 (171), which is an all-time high for a twelve-month period. Net finance items was affected by currency effects in the amount of MSEK –1 (–1).

Profits from acquired units, successful restructuring action in division Communications and cost awareness created improved profit during the year. The sales mix continued in the direction of increases for value-adding systems and solution sales at the expense of component sales with lower margins.

Focus on proprietary products by acquired units also strengthened margins for the Group as a whole. Profit after taxes for the financial year amounted to MSEK 159 (126). Profit after taxes was affected positively by a onetime effect estimated to be MSEK 10. This is due to recalculation of deferred tax in accordance with a new corporate tax rate of 22.0 percent (26.3) in Sweden starting 1 January 2013.

Earnings per share after dilution for the 2012/13 financial year increased by 26 percent and amounted to SEK 7.07, as compared with SEK 5.63 for the 2011/12 financial year.

Fourth quarter January – March 2013

Net revenue for the fourth quarter of the financial year (1 January-31 March 2013) increased by 3 percent to MSEK 619 (602), equivalent to organic growth measured in local currency of –5 percent.

Sales were stable in most units during the quarter, except for in some units of divisions Mechatronics and Niche Products. This is believed to be because of the current macro-economic situation. Lower demand was noted particularly in the Finnish market.

Operating profit increased during the quarter by 13 percent to MSEK 59 (52). The operating margin was 9.5 percent (8.6). Currency effects on operating earnings amounted to MSEK –1 (1) during the fourth quarter.

Profit after net finance items for the fourth quarter increased by 12 percent to MSEK 54 (48). The increase in profit is explained by improved profitability in division Communications and by profit from acquired units. Net finance items were affected by currency effects in the amount of MSEK –1 (–2).

Divisions

			Net revenue				Operating profit
	3 months	3 months	12 months	12 months	3 months	3 months	12 months	12 months
MSEK	Jan-Mar 2012/13	Jan-Mar 2011/12	Apr-Mar 2012/13	Apr-Mar 2011/12	Jan-Mar 2012/13	Jan-Mar 2011/12	Apr-Mar 2012/13	Apr-Mar 2011/12
Electronics	166	158	623	606	14	13	48	42
Operating margin					8.4%	8.2%	7.7%	6.9%
Mechatronics	179	199	703	770	22	29	83	97
Operating margin					12.3%	14.6%	11.8%	12.6%
Communications	216	203	785	739	17	13	64	43
Operating margin					7.9%	6.4%	8.2%	5.8%
Niche Products	58	42	217	150	8	8	35	26
Operating margin					13.8%	19.0%	16.1%	17.3%
Parent Company/ consolidation items
	-	-	-	-	-2	-11	-17	-24

GROUP TOTAL	619	602	2328	2265	59	52	213	184
Operating margin					9.5%	8.6%	9.1%	8.1%
Finance items					-5	-4	-13	-13
PROFIT
BEFORETAXES					54	48	200	171

NET REVENUE AND PROFIT BY DIVISION FOURTH QUARTER

Electronics

Net revenue for the fourth quarter increased by 5 percent to MSEK 166 (158). A slightly weaker market situation overall for comparable units was compensated for by acquired business volume, especially in the area of lighting control.

Operating profit for the fourth quarter amounted to MSEK 14 (13), which is equivalent to an operating margin of 8.4 percent (8.2).

Mechatronics

Net revenue for the fourth quarter amounted to MSEK 179 (199). Some units in the division recorded lower demand, considered to be caused by the current economic situation. In the area of customised cable harnesses volumes to specific customers were also lower.

Operating profit for the fourth quarter amounted to MSEK 22 (29), giving an operating margin of 12.3 percent (14.6). The lower result was due primarily to the low sales volume in customised cable harnesses. The newly acquired Elkapsling company and the area for safety switches showed a good development during the quarter.

Communications

Net revenue for the fourth quarter increased by 6 percent to MSEK 216 (203). Demand was especially strong in the areas of digital image/technical security and software compared to the preceding year. Increased interest in the Group's offerings in camera surveillance and video conferencing was noted.

Operating profit for the fourth quarter increased to MSEK 17 (13), equivalent to an operating margin of 7.9 percent (6.4). The earnings improvement is explained primarily by the restructuring action taken in some units in product areas digital image/technical security and access.

Niche Products

Net revenue for the fourth quarter amounted to MSEK 58 (42). The increase is explained primarily by acquisitions.

Operating profit for the fourth quarter amounted to MSEK 8 (8), equivalent to an operating margin of 13.8 percent (19.0). The lower margin was due primarily to lower export sales in a few units because of the current economic situation.

PROFITABILITY AND FINANCIAL POSITION

The return on equity for the most recent twelvemonth period was 24 percent (22) and the return on capital employed was 23 (22) percent.

Equity per share stood at SEK 31.30 at the end of the period, as compared with SEK 27.90 at the beginning of the financial year and, aside from by the profit number, was affected by the above mentioned tax effect as well as currency-related translation effects.

The equity ratio was 44 percent compared with 46 percent at the beginning of the financial year.

At the end of the period the financial net liability amounted to MSEK 299, including a pension liability of MSEK 51, compared with MSEK 185 including a pension liability of MSEK at the beginning of the year. The Group's net debt to equity ratio stood at 0.4 (0.3).

CASH FLOW AND CAPITAL EXPENDITURES

Cash flow from operating activities during the financial year amounted to MSEK 177 (175). The corresponding figure for the fourth quarter was MSEK 19 (73). The difference compared to the year before is explained primarily by a rise in operating receivables. Investments in non-current assets amounted to MSEK 30 (20) gross during the financial year.

No shares were repurchased during the financial year. However, previously repurchased shares held in treasury were sold for MSEK 11 during the financial year in connection with redemption of options and the premium received for issuing options.

MSEK 2 was paid in supplementary purchase money for previous acquisitions.

OTHER FINANCIAL INFORMATION

Parent Company and consolidation items

The Parent Company's internal net revenue for the year amounted to MSEK 30 (28) and profit after net finance items was MSEK 140 (172). This result includes exchange rate adjustments on intra-Group lending in the amount of MSEK –4 MSEK (–1) and dividend income from subsidiaries in the amount of MSEK 138 (168). Investments in non-current assets amounted to a net of MSEK 0 (0).

MSEK 268 (164) of the Parent Company's committed credit facility in the amount of MSEK 500 was utilised at the end of the period. Cash and cash equivalents were held in an amount of MSEK 0 (0). The Parent Company's equity ratio stood at 53 percent (60).

Employees

At the end of the period, the number of employees in the Group was 932, which can be compared to 780 at the beginning of the financial year. The increase is attributable to acquired businesses (168 new employees).

Share capital

At the end of the period, the share capital amounted to MSEK 48.9. The quotient value per share is SEK 2.11.

The distribution on classes of shares is as follows:

Classes of shares

Total	22, 520,009
Class B shares held in treasury	–653,300
Class B shares	22,081,343
Class A shares	1,091,966

As of 31 March 2013, Lagercrantz Group held 656,300 class B shares in treasury, which is equivalent to 2.8 percent of the number of shares outstanding and 2.0 percent of the votes in Lagercrantz Group. The average acquisition cost of the repurchased shares is SEK 31.75 per share. Shares held in treasury cover, inter alia, the Company's obligations under outstanding option programmes, where a total of 562,500 options have been acquired by members of senior management. This refers to awards for the years 2010, 2011 and 2012 on options that remain outstanding. The redemption price under each programme is SEK 39.60, SEK 57.20 and SEK 70.30 per share. The redemption price for programme 2010 has been adjusted for dividend paid during the year.

During the 2012/13 financial year a total of 225,000 were issued with a redemption price of SEK 70.30 in accordance with the resolution of the 2012 Annual General Meeting. These options were acquired by members of senior management in the Group.

During the first six months of the financial year the incentive programme based on options for repurchased Class B shares acquired by members of senior

management in the Group during 2009 were redeemed. In connection with redemption of options, a total of 200,500 repurchased Class B shares were sold for of MSEK 6. No options remain outstanding in this programme.

During the third quarter, parts of the incentive programme based on options for repurchased Class B shares acquired by members of senior management during 2010 were redeemed. In connection with redemption of options, a total of 102,500 repurchased Class B shares were sold for a total of MSEK 4.

Acquisitions

A total of four businesses were acquired during the financial year. Plåt & Spiralteknik i Torsås AB (PST), a niched player that develops, manufactures and markets shaftless spiral conveyors was acquired during the second quarter. PST has annual sales of approximately MSEK 40 and is a part of division Niche Products since July of 2012.

Also acquired during the second quarter were the Thermod companies, which include Thermod AB and Ampol Serwis Sp.zo.o., with its subsidiary Thermod Polska Sp.zo.o. The Thermod companies develop, manufacture and sell niched inner doors made from fibreglass-armoured plastic laminate with long life and with high quality for cooling and freezing rooms with high standards of hygiene and moisture resistance. The Thermod companies generate sales of

Preliminary Purchase Price Allocation

approximately MSEK 55 annually and are included in division Niche Products from August 2012.

Also acquired during the second quarter were the Vanpee companies, including Vanpee AB and Vanpee Norge AS. The Vanpee companies are value-adding distributors in the lighting industry with leading component suppliers in the portfolio. The Vanpee companies have sales of approximately MSEK 75 on an annual basis and are included in division Electronics from August 2012.

Elkapsling, which develops, manufactures and sells electric enclosures used to protect electric and telecoms installations with stringent requirement for, among other things, durability and humidity resistance, was acquired during the third quarter. The company has sales of approximately MSEK 85 on an annual basis and is included in division Mechatronics from December 2012.

The effect during the financial year of acquisitions made on the Group's revenue during the financial year is MSEK 135 and on profit before taxes MSEK 13, after acquisition costs. Transaction costs for the acquisitions made during the quarter under review were MSEK 2, included in Administrative costs in the Income Statement.

Had the acquired businesses been consolidated from 1 April 2012, the effect on revenue and profit before taxes would have been MSEK 246 and MSEK 25, respectively, after acquisition costs.

Acquired net assets at time of acquisition	Book value in companies	Fair value adjustment	Fair value condsolidated
Intangible non-current assts	0	51	51
Other non-current assets	28	5	33
Inventories and w ork in progress	29	-	29
Other short-term receivables	87	-	87
Interest-bearing liabilities	-10	-	-10
Other liabilities	-49	-13	-62
Net of identified assets/liabilities	85	43	128
Goodw ill	-	-	163
Estimated purchase price	-	-	291

The estimated purchase price for acquired businesses amounted to MSEK 291. This amount includes estimated contingent consideration in the amount of MSEK 51 for the companies, which is 79 percent of the maximum outcome. The outcome depends on profit achieved by the companies.

Accounting Policies

This Interim Report for the Group has been prepared in accordance with IAS 34 Interim Financial Reporting. The interim report for the Parent Company has been prepared in accordance with the Swedish Annual Accounts Act and the Swedish Securities Market Act, which is in accordance with the provisions of RFR 2 Accounting for legal entities. For the Group and the Parent Company the same accounting principles and calculation methods have been applied as in the most recent Annual Report.

The standard change of IAS 19 concerning pension liabilities, to be applied for the financial year beginning 1 April 2013, will have an effect on the Group's financial reports. For the 2012/13 financial year, the changes would have increased the pension liability by MSEK 8 and reduced equity by MSEK 6, including tax effects taken into account.

Related party disclosures

Transactions between Lagercrantz Group and closely related parties with an effect on the financial position and profit have not occurred.

Risks and uncertainty factors

The most important risk factors for the Group are the state of the economy, structural changes in the market, supplier and customer dependence, the competitive situation and foreign exchange trends. The financial and political uncertainties are the most apparent uncertainty factors. The Group has adopted a cautious approach and follows changes in the world around us diligently. In other respects, reference is made to the 2011/12 Annual Report. The Parent Company is affected by the abovementioned risks and uncertainty factors by virtue of its function as owner of its subsidiaries.

Events after the end of the period

No events of significance for the Company have occurred after the balance sheet date, 31 March 2013.

Annual General Meeting 2013

The 2013 Annual General Meeting will be held 27 August 2013. In order to bring a matter before the Annual General Meeting, a request must be received from the shareholder not later than by 12 July 2013. The Annual Report will be published at the end of June/beginning of July 2013.

Notice for the Annual General Meeting will be published on the Company's website not later than six weeks before the Meeting. All shareholders whose names are entered in the share register five days before the Annual General Meeting may participate in person, or by proxy. Notice must be given in accordance with instructions contained in the notice.

Election Committee

An election committee has been appointed for the 2013 Annual General Meeting. Suggestions to the Election Committee my be sent to [email protected]

More information is available at www.lagercrantz.com

Dividend

The Board of Directors of Lagercrantz Group AB propose a dividend of SEK 3.25 (2.75) per share. This is equivalent to a total of MSEK 73 (61).

Stockholm, 7 May 2013

Jörgen Wigh President & CEO

REVIEW REPORT

We have performed a review of the twelve-month period covered y the interim report for Lagercrantz Group AB as of 31 March 2013. The preparation and presentation of this interim report in accordance with IAS 34 and the Swedish Annual Accounts Act are the responsibility of the Board of Directors and the President. Our responsibility is to express an opinion on the basis of our review.

Scope and focus of the review

We have performed our review in accordance with the Standard for Review, SÖG 2410 Review of interim information performed by the company's elected auditor. A review comprises making inquiries, primarily of individuals responsible for financial and accounting matters, and performing analytical procedures and other review procedures. A review has a different focus and significantly smaller scope compared with an audit in accordance with International Standards on Auditing and generally accepted auditing standards in Sweden. Given the procedures performed in a review, it is not possible for us to obtain such a degree of assurance that we would have become aware of all important

circumstances which would have been identified had an audit been performed. Therefore, the opinion expressed on the basis of a review does not have the assurance of an opinion based on an audit.

Conclusion

Based on our review, no circumstances have come to our attention which would give us reason to consider that this interim report has not, in all material respects, been prepared, as far as the group is concerned, in accordance with IAS 34 and the Swedish Annual Accounts Act and, as far as the parent company is concerned, in accordance with the Swedish Annual Accounts Act.

Stockholm, 7 May 2013

KPMG AB

Joakim Thilstedt Authorised Public Accountant

Segment Information by Quarter

Net revenue			2012/13				2011/12
MSEK	Q4	Q3	Q2	Q 1	Q 4	Q 3	Q 2	Q 1
Electronics	166	159	149	149	158	147	152	149
Mechatronics	179	169	174	181	199	197	192	182
Communications	216	210	178	181	203	188	169	179
Niche Products	58	49	55	55	42	37	26	45
Parent Company/ consolidation items					-	-	-	-
GROUP TOTAL	619	587	556	566	602	569	539	555

Operating profit			2012/13				2011/12
MSEK	Q4	Q3	Q2	Q 1	Q 4	Q 3	Q 2	Q 1
Electronics	14	13	10	11	13	9	10	10
Mechatronics	22	17	24	20	29	22	25	21
Communications	17	20	15	12	13	10	11	9
Niche Products Parent Company/	8	6	10	11	8	6	4	8
consolidation items	-2	-4	-6	-5	-11	-5	-5	-3
GROUP TOTAL	59	52	53	49	52	42	45	45

Consolidated Income Statement

MSEK	3 months Jan-Mar 2012/13	3 months Jan-Mar 2011/12	Financial year 2012/13	Financial year 2011/12
Net revenue	619	602	2 328	2 265
Cost of goods sold	-434	-427	-1 617	-1 609
GROSS PROFIT	185	175	711	656
Selling costs	-86	-86	-334	-323
Administrative costs	-41	-35	-146	-134
Research and development costs	-8	-6	-30	-21
Other operating income and expenses	9	4	12	6
OPERATING PROFIT	59	52	213	184
(of which depreciation)	(-11)	(-10)	(-39)	(-35)
Net finance items	-5	-4	-13	-13
PROFIT AFTER FINANCE ITEMS	54	48	200	171
Taxes	-10	-13	-41	-45
NET PROFIT FOR THE PERIOD	44	35	159	126
Earnings per share, SEK	1.95	1.57	7.09	5.66
Earnings per share after dilution, SEK	1.94	1.56	7.07	5.63
Weighted number of shares outstanding after repurchases ('000)	22,520	22,316	22,426	22,242
Weighted number of shares outstanding after repurchases adjusted for dilution ('000)	22,696	22,466	22,501	22,392
Number of shares outstanding after the period's repurchases ('000)	22,520	22,217	22,520	22,217

In view of the strike price on outstanding call options during the period (SEK 39.60 , SEK 57.20 and SEK 70.30 ) and the average market price of the share during the most recent twelve-month period when the option programmes where outstanding (SEK 63.00), there was a dilutive effect of 0.3 percent for the most recent twelve-month period. For the fourth quarter, there was a dilutive effect of 0.8 percent as the average market price (SEK 83.70) was higher than the strike price for outstanding programmes.

Consolidated Statement of Comprehensive Profit

MSEK	3 months Jan-Mar 2012/13	3 months Jan-Mar 2011/12	Financial year 2012/13	Financial year 2011/12
Net profit for the period	44	35	159	126
Other comprehensive profit
Change in fair value of hedging reserve	-	1	-	1
Change in translation reserve	-15	-3	-23	1
COMPREHENSIVE PROFIT FOR THE PERIOD	29	33	136	128

Consolidated Statement of Financial Position

MSEK	2013-03-31	2012-03-31
ASSETS
Goodwill	515	361
Other intangible non-current assets	228	192
Tangible non-current assets	125	87
Financial non-current assets	8	10
Inventories	232	229
Short-term receivables	459	430
Cash and cash equivalents	36	37
TOTAL ASSETS	1,603	1,346
EQUITY AND LIABILITIES
Equity	705	620
Long-term liabilities	140	123
Current liabilities	758	603
TOTAL EQUITY AND LIABILITIES	1,603	1,346
Interest-bearing assets	36	37
Interest-bearing liabilities	335	222

Consolidated Cash Flow Statements

MSEK	3 months Jan-Mar 2012/13	3 months Jan-Mar 2011/12	Financial year 2012/13	Financial year 2011/12
Operating activities
Profit after finance items	54	48	200	171
Adjustment for paid taxes, items not included in cash flow, etc.	-2	5	-25	13
Cash flow from operating activities before changes in working capital	52	53	175	184
Cash flow from changes in working capital
Increase (-)/Decrease (+) in inventories	18	3	21	2
Increase (-)/Decrease (+) in operating receivables	-56	-9	3	-30
Increase (+)/Decrease (-)in operating liabilities	5	26	-22	19
Cash flow from operating activities	19	73	177	175
Investment activities
Investment in businesses	-2	-22	-199	-48
Investments in/ disposals of other non-current assets, net	-2	-5	-29	-20
Cash flow from investment activities	-4	-27	-228	-68
Financing activities
Dividend income & repurchase of own shares	0	-11	-51	-53
Financing activities	-66	-44	102	-74
Cash flow from financing activities	-66	-55	51	-127
CASH FLOW FOR THE PERIOD	-51	-9	0	-20

Cash and cash equivalents at beginning of period	88	46	37	56
Translation difference in cash and cash equivalents	-1	0	-1	1
Cash and cash equivalents at end of period	36	37	36	37

Statement of Changes in Consolidated Equity

MSEK	Financial year 2012/13	Financial year 2011/12
Opening balance	620	545
Dividend	-62	-50
Exercise of options on repurchased shares	11	8
Repurchase of own shares	-	-11
Comprehensive profit for the period	136	128
CLOSING BALANCE	705	620

			Financial year
	2012/13	2011/12	2010/11	2009/10	2008/09
Revenue	2,328	2,265	2,029	1,720	2,138
Change in revenue, %	3	12	18	-20	-2
Profit after taxes	159	126	102	42	68
Operating margin, %	9.1	8.1	7.2	3.9	4.9
Profit margin, %	8.6	7.5	6.8	3.4	4.4
Equity ratio, %	44	46	42	56	49
Return on capital employed, %	23	22	21	11	17
Return on equity, %	24	22	20	8	14
Debt equity ratio	0.5	0.4	0.5	0.1	0.3
Net debt equity ratio	0.4	0.3	0.4	0.1	0.2
Interest coverage ratio	13	11	12	6	7
Net interest-bearing liabilities (+)/receivables (-), MSEK	299	185	243	38	78
Number of employees at end of period	932	780	731	608	742
Revenue outside Sweden, MSEK	1,553	1,533	1,355	1,155	1,486

Per-share Data

		Financial year
	2012/13	2011/12	2010/11	2009/10	2008/09
Number of shares outstanding at end of period after repurchases ('000)	22,520	22,217	22,196	21,978	21,978
Weighted number of shares outstanding after repurchases ('000)	22,426	22,242	22,046	21,978	22,287
Weighted number of shares outstanding after repurchases and dilution ('000)	22,501	22,392	22,133	21,978	22,287
Operating profit per share after dilution, SEK	9.47	8.22	6.64	3.05	4.71
Earnings per share, SEK	7.09	5.66	4.63	1.91	3.05
Earnings per share after dilution, SEK	7.07	5.63	4.61	1.91	3.05
Cash flow from operations per share after dilution, SEK	7.87	7.82	5.33	3.96	6.15
Cash flow per share after dilution, SEK	0.00	-0.89	1.22	-1.37	-0.76
Equity per share, SEK	31.30	27.90	24.60	22.50	23.60
Latest market price per share, SEK	88.25	57.25	61.75	31.50	23.50

Definitions are found in the 2011/12 Annual Report.

Parent Company Balance Sheet

MSEK	2013-03-31	2012-03-31
ASSETS
Tangible non-current assets	0	0
Financial non-current assets	1,221	952
Short-term receivables	90	69
Cash and cash equivalents	0	0
SUMMA TILLGÅNGAR	1,311	1,021
EQUTIY AND LIABILITIES
Equity	696	611
Untaxed reserves	5	3
Long-term liabilities	25	23
Current liabilities	585	384
TOTAL EQUITY AND LIABILITIES	1,311	1,021

Parent Company Income Statement

3 months Jan-Mar 2012/13	3 months Jan-Mar 2011/12	Financial year 2012/13	Financial year 2011/12
8	7	30	28
-14	-11	-44	-44
0	0	0	0
-6	-4	-14	-16
			216
-16	-17	-25	-28
17	24	140	172
-2	-1	-2	-1 -1
			170

-	-	-	-
9	17	136	170
	39 -6 9	45 -6 17	179 -2 136

This information is being published in accordance with the Act on Trading in Financial Instruments or the regulations of NASDAQ OMX Stockholm. The information herein was provided for publication at 08:00 a.m., 7 May 2013.

Reporting schedule
19 July 2013	Quarterly Report Q1 for the period 1 April 2013–30 June 2013
27 August 2013	Annual General Meeting for 2012/13 financial year
24 October 2013	Quarterly Report Q2 for the period 1 July 2013–30 September 2013
30 January 2014	Quarterly Report Q3 for the period 1 October 2013–31 December 2013
8 May 2014	Year-end Report for the period 1 April 2013–31 March 2014

The Annual Report for the 2012/13 financial year will be published at the end of June/beginning of July 2013 at www.lagercrantz.com.

For additional information, contact Jörgen Wigh, President, telephone +46 -8-700 66 70 Bengt Lejdström, Chief Financial Officer, telephone +46-8-700 66 70

Lagercrantz Group AB (publ) Box 3508, SE-103 69 Stockholm, Sweden Telephone: +46-8-700 66 70 • Fax +46-8-28 18 05 Corporate ID number: 556282-4556 www.lagercrantz.com