MEKO

Quarterly Report • Nov 11, 2016

Interim report January - September 2016 11 November 2016

SUMMARY OF THE THIRD QUARTER, 1 July - 30 September 2016 1)

• Revenue increased 2 per cent to SEK 1,432 M (1,405). Adjusted for currency effects and calculated on the comparable number of workdays, revenue rose 2 per cent. Sales in comparable units rose 2 per cent.
• EBITA amounted to SEK 154 M (196) and the EBITA margin amounted to 11 per cent (14).
• EBIT amounted to SEK 125 M (168) and the EBIT margin was 9 per cent (12). EBIT was adversely affected by non-recurring effects of SEK 18 M (0), of which SEK 13 M (0) pertain to personnel-related non-recurring costs for persons who have been part of group management, mainly the former CEO in an amount of SEK 11 M (0).
• The gross margin amounted to 54.5 per cent (55.8).
• Earnings per share, before and after dilution, amounted to SEK 2.20 (3.01).
• Cash flow from operating activities amounted to SEK 78 M (155) , of which discontinued operations amounted to SEK -3 M (-18).
• Net debt at the end of the period amounted to SEK 1,620 M (1,760), compared with SEK 1,626 M at year-end.
• After the end of the period Mekonomen Group has signed an agreement to divest the Danish business to T.Hansen Gruppen / AD Danmark. The transaction will be completed on 28 December 2016 and will result in a negative non-recurring EBIT effect of SEK 25 M in the fourth quarter 2016.

SUMMARY OF THE GROUP'S
EARNINGS TREND	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Revenue	1 432	1 405	2	4 429	4 314	3	5 876	5 761
Operating profit before amortisation and impairment of
intangible fixed assets (EBITA)	154	196	-21	491	589	-17	629	726
EBIT	125	168	-26	407	507	-20	516	616
Profit after financial items	112	154	-27	374	485	-23	483	594
Profit after tax, continuing operations	82	111	-27	276	354	-22	352	430
Profit after tax, discontinued operations	0	0	0	0	-1	0	1	0
Profit after tax	82	111	-27	276	353	-22	353	430
Earnings per share, continuing operations, SEK	2,20	3,01	-27	7,50	9,63	-22	9,64	11,77
Earnings per share, discontinued operations, SEK	0,00	0,00	0	0,00	-0,03	0	0,03	0,00
Earnings per share, SEK	2,20	3,01	-27	7,50	9,60	-22	9,67	11,77
EBITA margin, %	11	14		11	14		11	13
EBIT margin, %	9	12		9	12		9	11

The amounts in the table above pertain to continuing operations, except for Profit after tax and Earnings per share. For further information about discontinued

operations, see page 19.

1) During the first quarter of 2015, the last two stores in Denmark were discontinued and the Danish store operation is presented in the 2015-2016 interim reports according to the rules on discontinued operations in IFRS 5. The Danish store operation was previously included in the MECA segment. All amounts pertain to continuing operations except cash flow and net debt.

CEO's comments

A result weighed down by Mekonomen Sweden and non-recurring effects

As acting President and CEO of Mekonomen Group since October 6, I note that we have a weak result in the third quarter. Together with the management team, I have taken measures aimed at reversing the trend in Mekonomen Sweden. After the end of the period an agreement has been signed to divest the Danish business.

In the third quarter, the sales growth in the Group remained favourable in MECA, Mekonomen Norway and Sørensen og Balchen and we believe that these units strengthened their market shares. Mekonomen Sweden had a continued weak quarter and lost market shares. Earnings in the Group were negatively impacted by the development in Mekonomen Sweden and by non-recurring costs related to changes in management and store closure. EBIT in the third quarter amounted to SEK 125 M (168), including non-recurring costs of SEK 18 M (0).

Mekonomen Sweden – further measures required

In Mekonomen Sweden, the focus during the quarter has been on correcting the implementation problems communicated earlier with the new sales organisation and new store data system. This had a negative impact on sales and earnings. Since I took up my position, I have seen that we must take further action and the sales organisation is decentralised so that the stores are regaining their traditional strong role, in order to strengthen entrepreneurship.

Regarding the store data system, which has taken a lot of strength from the stores, we have isolated the problem to the 30 stores where the system was implemented in order to successively regain growth and profitability in these. We are not there yet and there will be continued implementation in 2017 only if we have achieved success in the current 30 stores. In general, we will reduce the pace of change considerably in our business-critical IT systems, where the only implementation that is definite is an upgrade of the wholesaler system in Mekonomen during 2017, which is a necessary element of the preparations for a new central warehouse structure.

The cost and efficiency program, with anticipated savings of SEK 25 M from 2017, is proceeding according to plan with only a marginal effect on earnings in the third and fourth quarters. In the fourth quarter of 2016, Mekonomen Sweden and Mekonomen Norway will have a non-recurring cost totalling SEK 6 M related to the recall of Volvo cars in which defective driving belts were installed. The issue of responsibility for these defective driving belts is under investigation. Main focus in Mekonomen Sweden is now on further developing our customer offering, re-generating growth and advancing our positions.

Strong sales growth to affiliated workshops

It is gratifying that sales to affiliated workshops continued the strong growth in the third quarter, which is the part of the market that we regard as strategically most important for growth. Sales in comparable units in the Group rose 2 per cent during the quarter and sales of spare parts under our own ProMeister brand continued to develop well.

Divestment of the Danish operation

The loss in our export business to Denmark was SEK 6 M for the quarter, which is a reduced loss compared with the third quarter of 2015. Agreement was signed after the end of the period with T. Hansen Gruppen / AD Danmark for divestment of the Danish business. The transaction will generate a negative non-recurring effect of SEK 25 M in the fourth quarter, in addition to the ordinary result generated by the Danish operation in the fourth quarter. The transaction means that Mekonomen Group will have exited Denmark and will therefore not incur any losses related to Denmark from 2017.

Market development remains stable

The market was stable during the quarter. We see potential for an increasing overall market going forward, as a result of higher sales of new cars and a growing fleet of cars in our main markets Norway and Sweden in recent years. However, we expect no change in the market during the remainder of the year since the expanding fleet of cars reaches the aftermarket first when the cars are three years or older.

Growth and innovation

The project to establish a new Swedish automated central warehouse and our most important strategic project in digitalisation, our new catalogue, are proceeding according to plan.

Our focus ahead is on further strengthening our customer offering and driving sales growth in all of our Group companies. We will capitalise on the strong entrepreneurial spirit and our committed employees in the Group to strengthen our market position.

Pehr Oscarson Acting President and CEO

MEKONOMEN GROUP IN BRIEF

Mekonomen Group makes carlife easier and more affordable for our customers. We offer a broad and easily accessible range of affordable and innovative solutions and products for consumers and companies. We are the leading car service chain in the Nordic region with a proprietary wholesale operation, about 340 stores and more than 2,100 affiliated workshops operating under the Group's brands.

Business concept

With clear and innovative concepts, high quality and an efficient logistics chain, Mekonomen Group offers solutions to consumers and companies for an easier and more affordable carlife.

Business flow

Approximately 160 suppliers account for 75 per cent of the supply of goods. Mekonomen Group's three brands MECA, Mekonomen and BilXtra are responsible for their own wholesale operations. The approximately 340 stores deliver to more than 2,100 affiliated workshops and to other workshops and consumers. The Group also has about 30 proprietary workshops.

GROUP REVENUE

TOTAL REVENUE DISTRIBUTION
CONTINUING	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
OPERATIONS, SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Net sales, external by segment
MECA	477	466	2	1 511	1 382	9	2 000	1 871
Mekonomen Sweden	456	468	-2	1 421	1 432	-1	1 915	1 925
Mekonomen Norway	209	195	7	626	623	0	817	814
Sørensen og Balchen	179	179	0	543	570	-5	702	729
Other segments	71	66	7	219	202	8	301	285
Total net sales Group	1 392	1 374	1	4 320	4 209	3	5 735	5 624
Other operating revenue	40	31	28	109	106	3	140	137
GROUP REVENUE	1 432	1 405	2	4 429	4 314	3	5 876	5 761

GROWTH PER CENT		MECA		Mekonomen Sweden		Mekonomen Norway		Sørensen og Balchen		Group
2016	Q3	Jan - Sep	Q3	Jan - Sep	Q3	Jan - Sep	Q3	Jan - Sep	Q3	Jan - Sep
Underlying increase	2,7	12,0	-2,5	-1,3	7,9	6,5	1,2	1,0	2,3	5,0
Currency effect	-0,4	-3,3	0,0	0,0	-0,9	-6,6	-0,9	-6,2	-0,4	-2,8
Effect, workdays	0,0	0,5	0,0	0,5	0,0	0,5	0,0	0,5	0,0	0,5
Nominal increase	2,3	9,3	-2,5	-0,7	7,0	0,5	0,3	-4,7	1,9	2,6

SALES IN COMPARABLE UNITS		Group
PER CENT	Third quarter 2016	Jan - Sep 2016
Sales growth in comparable units	1,9	4,6

1 July – 30 September 2016

Revenue for continuing operations rose 2 per cent to SEK 1,432 M (1,405). Adjusted for negative currency effects of SEK 5 M, revenue increased 2 per cent. The number of workdays was unchanged in Sweden, Norway, Finland and Denmark, compared with the preceding year. Calculated on comparable workdays and adjusted for currency effects, revenue increased 2 per cent. Sales in comparable units rose 2 per cent.

1 January – 30 September 2016

Revenue for continuing operations rose 3 per cent to SEK 4,429 M (4,314). Excluding the acquisition of Opus Equipment for the period January-June 2016, revenue increased 1 per cent. Adjusted for negative currency effects of SEK 121 M, revenue increased 5 per cent. The number of workdays was one day more in Sweden and Norway and two days more in Finland and Denmark during the nine-month period compared with the previous year. Calculated on comparable workdays and adjusted for currency effects, revenue increased 5 per cent. Sales in comparable units rose 5 per cent.

GROUP PERFORMANCE

1 July – 30 September 2016

Operating profit before amortisation and impairment of intangible fixed assets, EBITA EBITA for continuing operations amounted to SEK 154 M (196), and the EBITA margin was 11 per cent (14). MECA's export business to Denmark had a negative impact of SEK 6 M (neg: 9) on EBITA. Earnings were negatively impacted by non-recurring effects of SEK 18 M (0), of which SEK 13 M (0) pertains to personnel-related non-recurring costs for persons who have been part of group management, mainly the former CEO in an amount of SEK 11 M (0). Currency effects in the balance sheet had a positive impact of SEK 2 M (neg: 12) on EBITA.

Operating profit, EBIT

EBIT for continuing operations totalled SEK 125 M (168), and the EBIT margin was 9 per cent (12). MECA's export business to Denmark had a negative impact of SEK 6 M (neg: 9) on EBIT. Earnings were negatively impacted by non-recurring effects of SEK 18 M (0), of which SEK 13 M (0) pertains to personnel-related non-recurring costs for persons who have been part of group management, mainly the former CEO in an amount of SEK 11 M (0). Currency effects in the balance sheet had a positive impact of SEK 2 M (neg: 12) on EBIT.

Other earnings

Profit after financial items for continuing operations amounted to SEK 112 M (154). Net interest expense amounted to SEK 6 M (expense: 7) and other financial items to an expense of SEK 7 M (expense: 8). Profit after tax for continuing operations amounted to SEK 82 M (111), for discontinued operations to SEK 0 M (0) and a total of SEK 82 M (111). In Norway, corporate tax was reduced from 27 to 25 per cent as of 2016, which had a positive impact of SEK 2 M on tax expense for the quarter. Earnings per share, before and after dilution, amounted to SEK 2.20 (3.01) for continuing operations, SEK 0.00 (0.00) for discontinued operations, and in total SEK 2.20 (3.01).

1 January – 30 September 2016

Operating profit before amortisation and impairment of intangible fixed assets, EBITA

EBITA for continuing operations amounted to SEK 491 M (589), and the EBITA margin was 11 per cent (14). MECA's export business to Denmark had a negative impact of SEK 15 M (neg: 21) on EBITA. Earnings were negatively impacted by non-recurring effects of SEK 27 M (neg: 1). Currency effects in the balance sheet had a negative impact of SEK 6 M on EBITA in the comparative period, but none during the period.

Operating profit, EBIT

EBIT for continuing operations totalled SEK 407 M (507), and the EBIT margin was 9 per cent (12). MECA's export business to Denmark had a negative impact of SEK 15 M (neg: 21) on EBIT. Earnings were negatively impacted by non-recurring effects of SEK 27 M (neg: 1). Currency effects in the balance sheet had a negative impact of SEK 6 M on EBIT in the comparative period, but none during the period.

Other earnings

Profit after financial items for continuing operations amounted to SEK 374 M (485). Net interest expense amounted to SEK 18 M (expense: 21) and other financial items to an expense of SEK 15 M (0). Other financial items were negatively impacted by non-recurring effects of SEK 1 M (pos: 7). Profit after tax for continuing operations amounted to SEK 276 M (354), for discontinued operations to SEK 0 M (loss: 1), and in total to SEK 276 M (353). In Norway, corporate tax was reduced from 27 to 25 per cent as of 2016, which had a positive impact of SEK 6 M on tax expense for the period. Earnings per share, before and after dilution, amounted to SEK 7.50 (9.63) for continuing operations, SEK 0.00 (loss: 0.03) for discontinued operations, and in total to SEK 7.50 (9.60).

FINANCIAL POSITION AND CASH FLOW

Cash flow from operating activities down, due to lower result and increased working capital, to SEK 78 M (155) for the third quarter, of which discontinued operations comprised a negative SEK 3 M (neg: 18) and for the nine-month period to SEK 336 M (244), of which discontinued operations comprised a negative SEK 8 M (neg: 147) Tax paid amounted to SEK 35 M (33) for the third quarter and to SEK 154 M (186) in the nine-month period. Cash and cash equivalents amounted to SEK 182 M (256) compared with SEK 295 M at the end of the year. The equity/assets ratio was 42 per cent (39). Long-term interest-bearing liabilities amounted to SEK 1,373 M (1,510) compared with SEK 1,469 M at the end of the year. Current interest-bearing liabilities amounted to SEK 445 M (522), compared with SEK 461 M at the end of the year.

Net debt amounted to SEK 1,620 M (1,760), compared with SEK 1,626 M at year-end, down SEK 6 M since year-end and down SEK 63 M in the third quarter. It is primarily positive cash flow from operating activities that has reduced net debt during the year. The items that increased net debt are mainly the share dividend of SEK 259 M, of which SEK 251 M were dividends to the Parent Company's shareholders, which was paid during the second quarter, as well as investments and acquisitions. During the quarter, loans were amortised by SEK 34 M and by SEK 102 M in the the nine-month period.

INVESTMENTS

During the third quarter, investments in fixed assets amounted to SEK 20 M (19) and to SEK 68 M (70) during the nine-month period. Depreciation and impairment of tangible fixed assets in continuing operations amounted to SEK 15 M (14) for the third quarter and to SEK 44 M (44) for the nine-month period.

In order to achieve a more efficient logistics structure, Mekonomen Group will centralise its central warehouse structure in Sweden. In July 2016, Mekonomen Group signed an agreement with TGW Logistics Group to expand the existing central warehouse in Strängnäs with a fully automated section. The expansion is intended to create a Group-wide, flexible and cost-efficient platform for the supply chain in the Group. The estimated investment during the period 2016-2018 is SEK 190 M with full EBIT effect from savings of SEK 50 M annually from 2020. Capital tied-up is expected to decline SEK 80 M with full effect as of 2020.

During the third quarter, company and business acquisitions amounted to SEK 1 M (42) and to SEK 28 (55) for the nine-month period, of which SEK 14 M (0) pertained to estimated supplementary purchase consideration for the nine-month period. Acquired assets totalled SEK 3 M (75) and assumed liabilities to SEK 0 M (37) for the nine-month period. In addition to goodwill, which amounted to SEK 5 M (13), intangible surplus values of SEK 19 M (6) were identified relating to customer relations. Deferred tax liabilities attributable to acquired intangible fixed assets amounted to SEK 0 M (1). Acquired minority shares amounted to SEK 10 M (0) in the third quarter and to SEK 13 M (8) for the nine-month period. Divested minority shares amounted to SEK 0 M (0) in the third quarter and the nine-month period.

ACQUISITIONS AND START-UPS

Third quarter

Mekonomen Sweden acquired minority shares in two stores and Meko Service Nordic acquired minority shares in two workshops, at a lower value.

Earlier in the year

Mekonomen Sweden acquired minority shares in seven stores and Meko Service Nordic acquired minority shares in a workshop, all for a minor amount. Mekonomen Sweden also acquired a partnership store in Halmstad and started up a store in Älmhult. Mekonomen Norway acquired one workshop in Drammen, Norway. MECA acquired a store in Höör, Sweden, two partnership stores in Tomelilla and Charlottenberg in Sweden, established Opus Equipment in Norway, and acquired a customer portfolio for oil sales to industrial customers in Norway. Sørensen og Balchen started up a store in Stord, Norway. Meko Service Nordic acquired one workshop in Mölndal, Sweden.

Opus Equipment AB, which was acquired on 1 July 2015, had in relation to the comparative period an impact of SEK 54 M on consolidated net sales during the nine-month period, and a negative EBIT of SEK 4 M for the nine-month period. Other acquisitions had only a marginal effect on consolidated sales and earnings.

Number of stores and workshops

At the end of the period, the total number of stores in the chains for continuing operations was 341 (345), of which 260 (259) were proprietary stores. The number of affiliated workshops totalled 2,123 (2,140). See the distribution in the table on page 18.

EMPLOYEES

At the end of the period, the number of employees in continuing operations was 2,229 (2,167) and the average number of employees during the period was 2,223 (2,120). See the distribution in the table on page 19.

PERFORMANCE BY SEGMENT

To adapt segment reporting to the changed internal organisation and governance, a new segment structure was implemented in 2016. As of the first quarter of 2016, the Group will be managed and reported in four segments; MECA, Mekonomen Sweden, Mekonomen Norway and Sørensen og Balchen. Reporting according to this new segment distribution has taken place since the first quarter of 2016. Comparative figures have been restated. For further information, refer to "Accounting policies" on page 10 and for the comparative figures from 2014-2015, which have been restated, refer to the table "Quarterly data, continuing operations, segment" on page 17.

MECA SEGMENT

MECA	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Net sales, external	477	466	2	1 511	1 382	9	2 000	1 871
Operating profit before
amortisation and impairment of
intangible fixed assets (EBITA)	53	54	-1	201	205	-2	253	258
EBIT	50	51	-1	192	195	-1	242	245
EBITA margin, %	11	12		13	15		12	14
EBIT margin, %	10	11		13	14		12	13
Number of stores/of which own				85 / 75	86 / 73			85 / 72
Number of Mekonomen Service
Centres				87	116			102
Number of MekoPartner				30	59			39
Number of MECA Car Service				695	657			676

The MECA segment mainly includes wholesale and store operations in Sweden and Norway, the export business to Denmark and the delivery and service of workshop equipment in Opus Equipment. As of 1 January 2015, the store operations in Denmark have been presented as discontinued operations and are not therefore included in the MECA segment. For further information about discontinued operations, see page 19.

A strong sales increase to MECA Car Service workshops was a key factor behind MECA's sales growth during the quarter. The acquisition of Opus Equipment on 1 July 2015 had in relation to the comparative period an impact of SEK 54 M during the nine-month period, and a negative EBIT of SEK 4 M for the nine-month period. Measures to improve earnings in Denmark led to an improved EBIT in the third quarter compared with the preceding year. However, sales for the third quarter did not yet achieve critical mass and Denmark had a negative impact on MECA's EBIT of SEK 6 M (neg: 9) for the quarter and SEK 15 M (neg: 21) for the nine-month period. Net sales for the export business to Denmark amounted to SEK 14 M (15) for the quarter and SEK 51 M (34) in the nine-month period. In the comparative period, MECA's EBITA and EBIT were negatively impacted by acquisition-related non-recurring costs of SEK 1 M for the nine-month period, nothing for the quarter. During the quarter, MECA had a negative impact on the gross margin, due to a higher proportion of sales to major customers. In Norway, oil sales to industrial customers developed further during the third quarter.

The currency effect on net sales against the NOK was a negative SEK 2 M for the quarter and a negative SEK 45 M for the nine-month period. In the third quarter, the number of workdays was unchanged in Sweden and Norway, compared with the preceding year, and one day more in Sweden and Norway in the nine-month period. Underlying net sales rose 3 per cent in the third quarter and 12 per cent in the nine-month period. MECA's EBIT totalled SEK 50 M (51) for the third quarter and EBIT margin amounted to 10 per cent (11).

MEKONOMEN SWEDEN SEGMENT

MEKONOMEN SWEDEN	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Net sales, external	456	468	-2	1 421	1 432	-1	1 915	1 925
Operating profit before amortisation and impairment of
intangible fixed assets (EBITA)	56	78	-28	149	235	-37	202	289
EBIT	55	77	-28	147	235	-37	199	287
EBITA margin, %	12	16		10	16		10	14
EBIT margin, %	12	16		10	16		10	14
Number of stores/of which own				132 / 112	136 / 114			134 / 113
Number of Mekonomen Service
Centres				435	440			439
Number of MekoPartner				121	127			125

The Mekonomen Sweden segment mainly includes wholesale, store and fleet operations in Sweden.

The organisational change implemented at the end of 2015 led to a negative effect on sales and higher personnel costs. The introduction of a new store data system, with implementation in 30 stores by the end of the second quarter, still has taken much energy and had a negative impact on sales and earnings. Earnings were also negatively impacted by SEK 5 M (0) during the quarter as a result of a non-recurring cost for store closure.

The underlying net sales declined 2 per cent in the third quarter and fell 1 per cent in the nine-month period. In the third quarter, the number of workdays was unchanged in Sweden compared with the previous year and one day more in the nine-month period. EBIT totalled SEK 55 M (77) for the third quarter and the EBIT margin was 12 per cent (16).

MEKONOMEN NORWAY	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Net sales, external	209	195	7	626	623	0	817	814
Operating profit before amortisation and impairment of
intangible fixed assets (EBITA)	35	39	-9	105	125	-16	130	151
EBIT	35	39	-9	105	125	-16	130	151
EBITA margin, %	16	19		16	20		15	18
EBIT margin, %	16	19		16	20		15	18
Number of stores/of which own				45 / 32	45 / 32			45 / 32
Number of Mekonomen Service
Centres				341	354			345
Number of MekoPartner				95	88			97

MEKONOMEN NORWAY SEGMENT

The Mekonomen Norway segment mainly includes store and fleet operations in Norway.

The key driver of Mekonomen Norway's growth was sales to Mekonomen Service Centres although in combination with intensified competition, this had a negative effect on the gross margin. Underlying net sales rose 8 per cent in the third quarter and 6 per cent in the nine-month period. The currency effect on net sales against the NOK was a negative SEK 2 M in the third quarter and a negative SEK 41 M the nine-month period. The number of workdays was unchanged in Norway compared with the preceding year, and one day more in the nine-month period. EBIT amounted to SEK 35 M (39) for the third quarter and the EBIT margin was 16 per cent (19).

SØRENSEN OG BALCHEN SEGMENT

SØRENSEN OG BALCHEN	Jul - Sep	Jul - Sep		Jan - Sep	Jan - Sep		12 months	Full-year
SEK M	2016	2015	Change %	2016	2015	Change %	Oct - Sep	2015
Net sales, external	179	179	0	543	570	-5	702	729
Operating profit before
amortisation and impairment of
intangible fixed assets (EBITA)	29	30	-4	88	90	-2	115	117
EBIT	29	30	-4	88	90	-2	114	116
EBITA margin, %	16	16		16	16		16	16
EBIT margin, %	16	16		16	16		16	16
Number of stores/of which own				71 / 36	70 / 35			70 / 35
Number of BilXtra				254	244			246

The Sørensen og Balchen segment mainly includes wholesale and store operations in Norway.

Sørensen og Balchen reported a favourable trend in sales of accessories in the quarter, although which in combination with intensified competition, had a negative effect on the gross margin. Sørensen og Balchen reported a favourable trend for cost control. The underlying net sales rose 1 per cent in the third quarter and 1 per cent during the nine-month period. The currency effect in net sales against the NOK was negative SEK 2 M in the third quarter and negative SEK 35 M for the nine-month period. The number of workdays during the quarter was unchanged in Norway compared with the preceding year and one day more in the nine-month period. EBIT totalled SEK 29 M (30) for the third quarter and the EBIT margin was 16 per cent (16).

SALES GROWTH PER CUSTOMER GROUP

GROWTH PER CUSTOMER GROUP	July - September 2016	January - September 2016
CONTINUING OPERATIONS,	Affiliated	Consumers	Other	Affiliated	Consumers	Other
PER CENT	workshops		workshops	workshops		workshops
Nominal growth	6,0	0,8	-5,5	7,8	-0,2	0,0
Currency adjusted growth	6,7	1,5	-5,1	10,8	2,2	2,9

NUMBER OF WORKDAYS PER QUARTER AND COUNTRY

Mekonomen has no actual seasonal effects in its operations. However, the number of workdays affects sales and profits.

WORKDAYS		Q1			Q2			Q3			Q4			Full-year
BY COUNTRY	2016	2015	2014	2016	2015	2014	2016	2015	2014	2016	2015	2014	2016	2015	2014
Sweden	61	62	62	62	60	59	66	66	66	64	63	62	253	251	249
Norway	61	63	63	62	59	59	66	66	66	64	63	62	253	251	250
Denmark	61	63	63	62	58	59	66	66	66	64	63	62	253	250	250
Finland	61	62	62	63	60	60	66	66	66	63	63	62	253	251	250

SIGNIFICANT RISKS AND UNCERTAINTIES

The company conducted a review and assessment of operating and financial risks and uncertainties in accordance with the 2015 Annual Report and found that no significant risks have occurred since then. For the effect of exchange-rate fluctuations on profit before tax, refer to page 31 of the 2015 Annual Report. For a full presentation of the risks affecting the Group, refer to the 2015 Annual Report.

PARENT COMPANY, "OTHER SEGMENTS" AND "OTHER ITEMS"

The Parent Company's operations mainly comprise Group Management and finance management. As of 1 April 2016 all employees except for Group Management were transferred from the Parent Company to a central company that will administer all Group-wide functions for Mekonomen Group. The Parent Company's earnings after net financial items were a negative SEK 27 M (neg: 12) for the third quarter and a negative SEK 49 M (neg: 41) for the nine-month period, excluding the share dividend from subsidiaries of SEK 47 M (421) in the nine-month period. The average number of employees was 8 (15). During the third quarter, Mekonomen AB sold goods and services to Group companies for a total of SEK 8 M (8) and for SEK 26 M (26) in the nine-month period.

As of 1 January 2016, disclosures previously reported under "Others" are now distributed between "Other segments" and "Other items" and more units have been added to "Other segments" from the now discontinued Mekonomen Nordic segment. Comparative figures have been restated. For further information, refer to "Accounting policies" on page 10 and for the comparative figures from 2014-2015, which have been restated, refer to the table "Quarterly data, continuing operations, segment" page 17.

"Other segments" includes business operations and operating segments that are not reported separately. These include Mekonomen's wholesale and store operations in Finland, Mekonomen's store operations in Iceland, Marinshopen, Meko Service Nordic with the BilLivet and Speedy workshop operations, the Car Share operations, Mekonomen car leasing service, our joint venture in Poland (InterMeko Europa), the affiliated company Automotive Web Solutions AB, Lasingoo Norway and Group-wide functions that also include Mekonomen AB (publ). EBIT for "Other segments" amounted to negative SEK 25 M (neg: 9) for the third quarter and a negative SEK 67 M (neg: 80) for the nine-month period. EBIT was negatively impacted by non-recurring effects of SEK 13 M (0) pertaining to non-recurring costs for persons who have been part of group management, mainly the former CEO in an amount of SEK 11 M (0).

"Other items" includes acquisition-related items attributable to Mekonomen AB's direct acquisitions. Current acquisition-related items pertain to amortisation of acquired intangible assets for the acquisitions of MECA and Sørensen og Balchen totalling an expense of SEK 19 M (expense: 19) for the third quarter and an expense of SEK 57 M (expense: 58) for the nine-month period.

CHANGES IN GROUP MANAGEMENT

David Larsson, COO, left Mekonomen Group during the quarter. Magnus Johansson, left the post of President and CEO of Mekonomen Group on 6 October 2016.

EVENTS AFTER THE END OF THE PERIOD

Magnus Johansson, left the post of President and CEO of Mekonomen Group on 6 October 2016. A provision was made for non-recurring cost of SEK 11 M in the third quarter of 2016.

Pehr Oscarson has been acting President and CEO since 6 October 2016.

Mekonomen Group has signed an agreement to divest the Danish business to T.Hansen Gruppen / AD Danmark. The transaction will be completed on 28 December 2016 and will result in a negative non-recurring EBIT effect of SEK 25 M in the fourth quarter 2016.

No other significant events occurred after the end of the reporting period.

ACCOUNTING POLICIES

Mekonomen Group applies the International Financial Reporting Standards (IFRS) as adopted by the EU. This interim report was prepared in accordance with the Annual Accounts Act and IAS 34 Interim Financial Reporting. The same accounting policies and measurement methods were applied as in the most recent Annual Report. This interim report consists of pages 1-24 and should be read in its entirety.

New standards or interpretations that became effective on 1 January 2016 have not had any material effect on Mekonomen Group's financial statements for the interim period.

The Parent Company prepares its accounts in accordance with the Swedish Annual Accounts Act and RFR 2 and applies the same accounting policies and measurement methods as in the most recent Annual Report, except that exchange-rate differences pertaining to net investment in foreign operations as of 1 January 2016 have been recognised in profit or loss instead of in comprehensive income, in accordance with the changes in RFR 2. Comparative figures have been restated.

SEGMENT REPORTING

In an effort to streamline Mekonomen Group's reporting structure, Mekonomen Sweden and Mekonomen Norway report directly to the President and CEO as of 2016. This has led to the removal of one organisational unit, Mekonomen Nordic. As of the first quarter of 2016, the Group is now managed and reported in four segments; MECA, Mekonomen Sweden, Mekonomen Norway and Sørensen og Balchen. Reporting according to the new segment structure has taken place since the first quarter of 2016. Comparative figures have been restated.

The MECA segment remains unchanged and mainly includes wholesale and store operations in Sweden and Norway and the export business to Denmark, and the delivery and service of workshop equipment in Opus Equipment. As of 1 January 2015, the store operations in Denmark have been presented as discontinued operations and are not therefore included in the MECA segment. The Mekonomen Sweden segment mainly includes wholesale, store and fleet operations in Sweden. The Mekonomen Norway segment mainly includes store and fleet operations in Norway. The Sørensen og Balchen segment remains unchanged and mainly includes wholesale and store operations in Norway.

"Other segments" includes business operations and operating segments that are not reported separately. These include Mekonomen's wholesale and store operations in Finland, Mekonomen's store operations in Iceland, Marinshopen, Meko Service Nordic with the BilLivet and Speedy workshop operations, the Car Share operations, Mekonomen car leasing service, our joint venture in Poland (InterMeko Europa), the affiliated company Automotive Web Solutions AB, Lasingoo Norway and Group-wide functions that also include Mekonomen AB (publ). The units reported in "Other segments" cannot produce the quantitative thresholds to be considered reportable, and the benefits of reporting these segments separately are considered limited for users of the financial statements. Mekonomen AB's operations mainly comprise Group Management and finance management functions.

"Other items" includes acquisition-related items attributable to Mekonomen AB's direct acquisitions.

As of 1 January 2016, disclosures previously reported under "Others" are now distributed between "Other segments" and "Other items," and Mekonomen Finland, Mekonomen Iceland, Marinshopen and central administrative functions from the former Mekonomen Nordic segments have been added to "Other segments." Comparative figures have been restated.

FORTHCOMING FINANCIAL REPORTING DATES

Information	Period	Date
Year-end report	January - December 2016	15 February 2017
Interim report	January - March 2017	10 May 2017
Interim report	January - June 2017	28 July 2017
Interim report	January - September 2017	7 November 2017
Year-end report	January - December 2017	9 February 2018

The date for the interim report January - June 2017 has been changed from 23 August 2017 to 28 July 2017.

ANNUAL GENERAL MEETING

The 2016 Annual General Meeting will be held on 25 April 2017 in Stockholm. The Annual Report will be published and available on Mekonomen's website not later than 4 April 2017.

NOMINATION COMMITTEE

In accordance with the guidelines established at the Annual General Meeting on 12 April 2016, Mekonomen has established a Nomination Committee. The Nomination Committee shall prepare and submit proposals to the Annual General Meeting on 25 April 2017 pertaining to the election of the Chairman at the Annual General Meeting, the number of Board members and deputy members, the election of Chairman of the Board and other members to the Board of Directors of the company, Board fees, as well as any remuneration for committee work, the election of and fees to be paid to auditors, and guidelines for the appointment of the Nomination Committee.

Prior to the 2017 Annual General Meeting, the Nomination Committee consists of Caroline Berg, representing the Axel Johnson AB Group, Jonathan Schönbäck, representing Handelsbanken Fonder, Mats Gustafsson, representing Lannebo Fonder and Arne Lööw, representing the Fourth Swedish National Pension Fund. Caroline Berg has been appointed Chairman of the Nomination Committee. Mekonomen's Chairman of the Board, Kenneth Bengtsson, has been co-opted to the Nomination Committee.

Stockholm, 11 November 2016 Mekonomen AB (publ), Corp. Reg. No: 556392-1971

Pehr Oscarson Acting President and CEO

For further information, please contact: Pehr Oscarson, Acting President and CEO, Mekonomen AB, tel +46 (0)8-464 00 00 Per Hedblom, CFO Mekonomen AB, tel: +46 (0)8-464 00 00

This information is information that Mekonomen AB (publ) is obliged to make public persuant to the EU Market Abuse Regulation and the Securities Markets Act.

The information was submitted for publication, through the agency of the contact person set out above, at 07:30 a.m CET on 11 November 2016.

The interim report will be published in Swedish and English. The Swedish version represents the original version and has been translated into English. Only the original version of the interim report has been reviewed by the company's auditors.

Auditors' report of Review of Interim Financial Information

Introduction

We have reviewed the condensed interim financial information (interim report) of Mekonomen AB (publ) as of 30 September 2016 and the nine-month period then ended. The Board of Directors and the CEO are responsible for the preparation and presentation of the interim financial information in accordance with IAS 34 and the Swedish Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.

Scope of Review

We conducted our review in accordance with the International Standard on Review Engagements ISRE 2410, Review of Interim Report Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards of Auditing, ISA, and other generally accepted auditing practices in Sweden. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

Conclusion

Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, in accordance with IAS 34 and the Swedish Annual Accounts Act, regarding the Group, and with the Swedish Annual Accounts Act, regarding the Parent Company.

Stockholm, 11 November, 2016

PricewaterhouseCoopers AB

Lennart Danielsson Authorised Public Accountant

CONSOLIDATED FINANCIAL REPORTS

CONDENSED CONSOLIDATED INCOME	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
STATEMENT, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Continuing operations:
Net sales	1 392	1 374	4 320	4 209	5 735	5 624
Other operating revenue	40	31	109	106	140	137
Total revenue	1 432	1 405	4 429	4 314	5 876	5 761
Goods for resale	-633	-607	-1 983	-1 881	-2 631	-2 529
Other external costs	-290	-284	-906	-862	-1 212	-1 167
Personnel expenses	-340	-304	-1 004	-939	-1 347	-1 282
Operating profit before depreciation/
amortisation and impairment of tangible
and intangible fixed assets (EBITDA)	168	210	535	633	686	784
Depreciation and impairment of tangible fixed assets	-15	-14	-44	-44	-57	-57
Operating profit before amortisation and impairment of intangible fixed assets
(EBITA)	154	196	491	589	629	726
Amortisation and impairment of intangible
fixed assets	-28	-27	-84	-82	-112	-110
EBIT	125	168	407	507	516	616
Interest income	1	1	3	4	5	6
Interest expenses	-7	-8	-22	-25	-29	-33
Other financial items	-7	-8	-15	0	-9	5
Profit after financial items	112	154	374	485	483	594
Tax	-31	-42	-98	-131	-131	-164
PROFIT FOR THE PERIOD FROM
CONTINUING OPERATIONS	82	111	276	354	352	430
Discontinued operations:
Earnings/loss for the period from discontinued operations1)	0	0	0	-1	1	0
PROFIT FOR THE PERIOD	82	111	276	353	353	430
Profit for the period attributable to:
Parent Company's shareholders	79	108	269	345	347	423
Non-controlling interests	3	3	7	8	6	8
PROFIT FOR THE PERIOD	82	111	276	353	353	430
Earnings/loss per share, before and after dilution, SEK
- Earnings from continuing operations	2,20	3,01	7,50	9,63	9,64	11,77
- Earnings/loss from discontinued operations	0,00	0,00	0,00	-0,03	0,03	0,00
Profit for the period	2,20	3,01	7,50	9,60	9,67	11,77

1) For further information about discontinued operations, see page 19.

CONSOLIDATED STATEMENT OF	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
FOR THE PARENT COMPANY, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Profit for the period	82	111	276	353	353	430
Other comprehensive income:
Components that will not be reclassified to earnings for the year:
- Actuarial gains and losses	-1	-	-1	-	1	2
Components that may later be reclassified to earnings for the year:
- Exchange-rate differences from translation of foreign subsidiaries 1)	66	-50	121	-51	85	-88
- Cash-flow hedges 2)	0	-3	-4	-2	-4	-1
Other comprehensive income, net after tax	65	-53	116	-54	83	-87
COMPREHENSIVE INCOME FOR THE PERIOD	147	58	392	299	436	343
Comprehensive income for the period attributable to:
Parent Company's shareholders	144	55	385	291	429	336
Non-controlling interests	3	3	8	8	7	7
COMPREHENSIVE INCOME FOR THE PERIOD	147	58	392	299	436	343
Total comprehensive income attributable to Parent Company shareholders derived from:
Continuing operations	142	53	381	291	427	337
Discontinued operations	1	2	3	0	2	-1

1) As at 30 September 2016, the accumulated translation reserve pertaining to Denmark was a negative SEK 14 M. The translation reserve pertaining to Denmark will be reclassified in shareholders' equity via profit or loss at the current amount on the date when the Danish company is liquidated. For further information about discontinued operations, see page 19.

2) Holding of financial interest-rate derivatives for hedging purposes, valued according to level 2 defined in IFRS 13.

CONDENSED CONSOLIDATED BALANCE SHEET	30 September	30 September	31 December
SEK M	2016	2015	2015
ASSETS 1)
Intangible fixed assets	2 772	2 759	2 734
Tangible fixed assets	175	178	182
Financial fixed assets	50	51	51
Deferred tax assets	55	54	55
Goods for resale	1 296	1 235	1 226
Current receivables	935	894	818
Cash and cash equivalents	182	256	295
TOTAL ASSETS	5 466	5 426	5 361
SHAREHOLDERS' EQUITY AND LIABILITIES 1)
Shareholders' equity	2 276	2 111	2 155
Long-term liabilities, interest-bearing	1 373	1 510	1 469
Deferred tax liabilities	142	149	169
Long-term liabilities, non-interest-bearing	25	4	8
Current liabilities, interest-bearing	445	522	461
Current liabilities, non-interest-bearing	1 205	1 131	1 099
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	5 466	5 426	5 361

1) The carrying amounts of financial assets and liabilities are measured at either fair value or a reasonable approximation of fair value.

CONDENSED CONSOLIDATED CHANGES IN	30 September	30 September	31 December
SHAREHOLDERS' EQUITY, SEK M	2016	2015	2015
Shareholders' equity at the beginning of the year	2 155	2 080	2 080
Comprehensive income for the period	392	299	343
Acquisition/divestment of non-controlling interests	-13	-8	-7
Dividend to shareholders	-259	-261	-261
SHAREHOLDERS' EQUITY AT THE END OF THE PERIOD	2 276	2 111	2 155
Of which non-controlling interests	13	13	12

CONDENSED CONSOLIDATED CASH-FLOW	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
STATEMENT, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Operating activities
Cash flow from operating activities before
changes in working capital, excluding tax paid	151	200	500	622	660	782
Tax paid	-35	-33	-154	-186	-157	-189
Cash flow from operating activities before changes in working capital	116	167	345	435	504	594
Cash flow from changes in working capital:
Changes in inventory	-47	-39	-9	-10	-18	-19
Changes in receivables	5	-9	-71	-83	1	-11
Changes in liabilities	4	36	70	-98	44	-124
Increase (–)/Decrease (+) restricted working capital	-38	-12	-10	-191	27	-154
Cash-flow from operating activities	78	155	336	244	531	439
Cash flow from investing activities	-14	-53	-70	-97	-120	-146
Cash flow from financing activities	-207	-98	-390	-150	-485	-245
CASH FLOW FOR THE PERIOD	-144	4	-124	-3	-74	48
CASH AND CASH EQUIVALENTS AT THE BEGINNING OF THE PERIOD	317	259	295	258	256	258
Exchange-rate difference in cash and cash equivalents	10	-6	12	1	0	-11
CASH AND CASH EQUIVALENTS AT THE END OF THE PERIOD	182	256	182	256	182	295

Compared with the interim report for January-September 2015, SEK 15 M was reclassified in the third quarter and SEK 102 M in the nine-month period between cash flow from operating activities before changes in working capital and changes in liabilities in working capital. The reclassification did not have any impact on total cash flow from operating activities. The reclassification pertains to the discontinued operations in Denmark.

INFORMATION ON SIGNIFICANT CHANGES IN MEMORANDUM ITEMS

The Parent Company, for the benefit of the subsidiary and in conjunction with the agreement with TGW Logistics Group, provided a guarantee of approximately SEK 137 M (EUR 14.2 M) to companies within TGW Logistics Group.

INFORMATION ABOUT FINANCIAL INSTRUMENTS MEASURED AT FAIR VALUE IN THE BALANCE SHEET

The financial instruments measured at fair value in the balance sheet are shown below. This was done by dividing the values into three levels, which is described in the 2015 Annual Report, Note 11. All of Mekonomen's financial instruments are included in Level 2.

The main methods and assumptions used to determine the fair value of the financial instruments shown in the table below are described in the 2015 Annual Report, Note 11. The financial instruments contained in the interim report are the same as those in the 2015 annual accounts.

CONSOLIDATED DERIVATIVE INSTRUMENTS MEASURED AT FAIR VALUE IN THE BALANCE SHEET, SEK M	30 September 2016	30 September 2015
FINANCIAL ASSETS
Derivatives: Currency swaps	-	0
Interest-rate swaps	-	-
TOTAL	-	0
FINANCIAL LIABILITIES
Derivatives: Currency swaps	-	-
Interest-rate swaps	9	4
TOTAL	9	4

GROUP'S FINANCIAL ASSETS AND LIABILITIES BY MEASUREMENT CATEGORY, 30 September 2016							Total
SEK M		Derivative Loan and accounts	Other financial	Total carrying	Fair value	Non-financial	Balance sheet
	instruments	receivable	liabilities	amount		assets & liabilities	summary
FINANCIAL ASSETS
Financial fixed assets	-	48	-	48	48	2	50
Accounts receivable	-	599	-	599	599	-	599
Other current receivables	-	-	-	-	-	336	336
Cash and cash equivalents	-	182	-	182	182	-	182
TOTAL	-	830	-	830	830	338	1 168
FINANCIAL LIABILITIES
Long-term liabilities, interest-bearing	9	-	1 364	1 373	1 373	-	1 373
Current liabilities, interest-bearing	-	-	445	445	445	-	445
Accounts payable	-	-	597	597	597	-	597
Other current liabilities	-	-	-	-	-	609	609
TOTAL	9	-	2 406	2 415	2 415	609	3 023

QUARTERLY DATA, CONTINUING		2016				2015					2014
OPERATIONS, SEGMENT	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1
NET SALES, SEK M 1)
MECA 2)	477	534	500	1 871	489	466	473	444	1 679	435	414	419	411
Mekonomen Sweden 3)	456	503	462	1 925	493	468	515	449	1 805	469	443	463	430
Mekonomen Norway 4)	209	223	194	814	191	195	224	204	800	200	202	207	191
Sørensen og Balchen	179	192	172	729	159	179	201	191	712	176	176	188	171
Other segments 5)	71	85	63	285	83	66	77	60	268	68	69	77	53
GROUP	1 392	1 537	1 391	5 624	1 415	1 374	1 489	1 346	5 262	1 347	1 306	1 354	1 255
EBITA, SEK M
MECA 2)	53	85	62	258	52	54	80	71	268	72	73	76	47
Mekonomen Sweden 3)	56	40	53	289	53	78	92	65	306	75	84	78	69
Mekonomen Norway 4)	35	42	27	151	25	39	51	36	136	28	37	36	35
Sørensen og Balchen	29	36	24	117	26	30	35	25	109	22	29	34	24
Other segments 5)	-20	-15	-17	-87	-20	-5	-35	-28	-57	-14	-9	-15	-19
GROUP	154	189	149	726	138	196	224	169	763	184	214	210	156
EBIT, SEK M
MECA 2)	50	82	60	245	49	51	77	68	243	57	69	73	44
Mekonomen Sweden 3)	55	39	52	287	53	77	92	65	306	75	84	78	69
Mekonomen Norway 4)	35	42	27	151	25	39	51	35	136	28	37	36	35
Sørensen og Balchen	29	36	24	116	26	30	35	25	109	22	29	34	24
Other segments 5)	-25	-19	-23	-106	-26	-9	-39	-32	-77	-18	-13	-19	-26
Other items 6)	-19	-19	-19	-77	-19	-19	-19	-19	-78	-19	-20	-19	-19
GROUP	125	161	121	616	109	168	197	142	639	145	186	182	126
INVESTMENTS, SEK M 7)
MECA 2)	3	4	3	17	5	2	2	8	20	5	6	5	4
Mekonomen Sweden 3)	5	5	6	29	12	2	6	9	18	6	4	3	5
Mekonomen Norway 4)	0	1	1	4	1	1	1	1	7	4	0	2	1
Sørensen og Balchen	1	1	1	3	1	0	1	1	4	1	0	1	1
Other segments 5) GROUP	11	18	8	50	14	14	14	8	21	10	3	6	2
	20	28	20	103	33	19	24	28	70	27	14	17	13
EBITA MARGIN, %
MECA 2)	11	16	12	14	11	12	17	16	16	16	18	18	11
Mekonomen Sweden 3)	12	8	11	14	10	16	17	14	16	15	18	16	15
Mekonomen Norway 4)	16	18	14	18	13	19	22	17	17	14	18	17	18
Sørensen og Balchen	16	18	14	16	16	16	17	13	15	12	16	18	14
GROUP	11	12	10	13	10	14	15	12	14	13	16	15	12
EBIT MARGIN, %
MECA 2)	10	15	12	13	10	11	16	15	14	13	17	17	11
Mekonomen Sweden 3)	12	8	11	14	10	16	17	14	16	15	18	16	15
Mekonomen Norway 4)	16	18	14	18	13	19	22	17	17	14	18	17	18
Sørensen og Balchen	16	18	13	16	16	16	17	13	15	12	16	18	14
GROUP	9	10	9	11	8	12	13	10	12	11	14	13	10

1) Net sales for each segment are from external customers.

2) As of 1 January 2015, the store operations in Denmark have been presented as discontinued operations and are not therefore included in the MECA segment. For further information about discontinued operations, refer to page 19.

3) The Mekonomen Sweden segment mainly includes wholesale, store and fleet operations in Sweden. Mekonomen Sweden was previously included in the Mekonomen Nordic segment. For further information about the new segment structure, refer to "Accounting policies" on page 10. Items were reallocated in Mekonomen Sweden, representing higher net sales of SEK 13 M for Q3 2015 and SEK 51 M for full-year 2015, and a positive EBIT effect of SEK 9 M for Q3 2015 and SEK 28 M for full-year 2015, compared with the figures previously presented for Mekonomen Sweden under the Mekonomen Nordic segment

4) The Mekonomen Norway segment mainly includes store and fleet operations in Norway. Mekonomen Norway was previously included in the Mekonomen Nordic segment. For further information about the new segment structure, refer to "Accounting policies" on page 10. Items were reallocated to Mekonomen Norway, representing higher net sales of SEK 3 M for Q3 2015 and SEK 11 M for full-year 2015, and a positive EBIT effect of SEK 3 M for Q3 2015 and negative effect of SEK 1 M for full-year 2015, compared with the figures previously presented for Mekonomen Norway under the Mekonomen Nordic segment.

5) "Other segments" includes business operations and operating segments that are not reported separately. "Other segments" also includes units that were previously included in Mekonomen Nordic but are not included in Mekonomen Sweden or Mekonomen Norway. The comparative figures have been restated. For further information about the new segment division, refer to "Accounting policies" on page 10.

6) "Other items" include acquisition-related items attributable to Mekonomen AB's direct acquisitions. Current acquisition-related items pertain to amortisation of acquired intangible assets related to the acquisitions of MECA and Sørensen og Balchen. For further information about the new segment division, refer to "Accounting policies" on page 10.

7) Investments do not include company and business combinations.

QUARTERLY DATA, CONTINUING		2016				2015					2014
OPERATIONS, SEK M	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1	FY	Q4	Q3	Q2	Q1
Revenue	1 432	1 573	1 424	5 761	1 447	1 405	1 527	1 382	5 390	1 373	1 340	1 387	1 290
EBITA	154	189	149	726	138	196	224	169	763	184	214	210	156
EBIT	125	161	121	616	109	168	197	142	639	145	186	182	126
Net financial items	-13	-9	-11	-22	0	-15	-9	2	-19	-3	-12	-1	-4
Profit after financial items	112	152	110	594	109	154	188	144	620	142	174	181	123
Tax	-31	-40	-27	-164	-32	-42	-50	-39	-153	-40	-38	-44	-31
Profit for the period	82	112	83	430	76	111	138	105	466	102	135	137	92
EBITA margin, %	11	12	10	13	10	14	15	12	14	13	16	15	12
EBIT margin, %	9	10	9	11	8	12	13	10	12	11	14	13	10
Earnings per share, continuing operations, SEK	2,20	3,02	2,28	11,77	2,14	3,01	3,74	2,88	12,80	2,87	3,69	3,74	2,50
Earnings per share, discontinued operations, SEK	0,00	0,00	0,00	0,00	0,03	0,00	-0,02	-0,01	-9,46	-7,55	-0,49	-0,75	-0,67
Earnings/loss per share, SEK	2,20	3,02	2,28	11,77	2,17	3,01	3,72	2,87	3,34	-4,68	3,20	2,99	1,83
Shareholders' equity per share, SEK	63,0	59,3	62,5	59,7	59,7	58,4	56,9	61,0	57,5	57,5	65,0	60,9	64,6
Cash flow per share, SEK1)	2,2	6,4	0,8	12,2	5,4	4,3	3,8	-1,3	11,5	5,0	3,2	5,4	-2,0
Return on shareholders' equity, %2)	15,9	17,6	18,7	20,0	20,0	20,9	21,9	21,3	20,6	20,6	18,3	17,2	16,6
Share price at end of period	167,0	182,0	201,0	173,0	173,0	194,0	202,5	227,5	204,0	204,0	156,5	171,5	178,5

1) The key figures are calculated including discontinued operations for each quarter.

2) The key figures for return on shareholders' equity are calculated on a rolling 12-month basis for continuing operations for each quarter. For further information about discontinued operations, refer to page 19.

KEY FIGURES	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
	2016	2015	2016	2015	Oct - Sep	2015
Return on shareholders' equity, %1)	-	-	15,9	20,9	15,9	20,0
Return on total capital, %1)	-	-	9,4	12,1	9,4	11,5
Return on capital employed, %1)	-	-	12,4	15,8	12,4	15,2
Equity/assets ratio, %	-	-	41,6	38,9	41,6	40,2
Gross margin, continuing operations, %	54,5	55,8	54,1	55,3	54,1	55,0
EBITA margin, continuing operations, %	10,7	13,9	11,1	13,6	10,7	12,6
EBIT margin, continuing operations, %	8,7	12,0	9,2	11,8	8,8	10,7
EBITDA margin, continuing operations, %	11,8	14,9	12,1	14,7	11,7	13,6
Earnings per share, continuing operations, SEK	2,20	3,01	7,50	9,63	9,64	11,77
Earnings/loss per share, discontinued operations, SEK	0,00	0,00	0,00	-0,03	0,03	0,00
Earnings per share, SEK	2,20	3,01	7,50	9,60	9,67	11,77
Shareholders' equity per share, SEK	-	-	63,0	58,4	63,0	59,7
Cash flow per share, SEK	2,2	4,3	9,4	6,8	14,8	12,2
Number of shares at the end of the period	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487
Average number of shares during the period	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487

1) The key figures for return on shareholders' equity/capital employed/total capital are calculated on a rolling 12-month basis for the January-September period and pertain to continuing operations. The balance sheet was not restated for discontinued operations. For further information about discontinued operations, see page 19.

NUMBER OF STORES AND WORKSHOPS		MECA1)		Mekonomen Sweden		Mekonomen Norway	Balchen	Sørensen og	Other		Group total
	30 September			30 September		30 September		30 September	30 September		30 September
	2016	2015	2016	2015	2016	2015	2016	2015	2016	2015	2016	2015
Number of stores
Proprietary stores	75	73	112	114	32	32	36	35	5	5	260	259
Partner stores	10	13	20	22	13	13	35	35	3	3	81	86
Total	85	86	132	136	45	45	71	70	8	8	341	345
Number of workshops 1)
Mekonomen Service Centres	87	116	435	440	341	354	-	-	42	36	905	946
MekoPartner	30	59	121	127	95	88	-	-	-	-	246	274
Speedy	-	-	-	-	-	-	-	-	23	19	23	19
BilXtra	-	-	-	-	-	-	254	244	-	-	254	244
MECA Car Service	695	657	-	-	-	-	-	-	-	-	695	657
Total	812	832	556	567	436	442	254	244	65	55	2 123	2 140

1) As of 1 January 2015, the store operations in Denmark have been presented as discontinued operations and the stores are not therefore included in the MECA segment. With respect to workshops, presentation of the workshops affiliated with Mekonomen Group concept will also continue. MECA sells directly to these workshops in Denmark. For further information about discontinued operations, see page 19.

AVERAGE NUMBER OF EMPLOYEES, CONTINUING OPERATIONS	Jan - Sep	Jan - Sep
	2016	2015
MECA 1)	691	577
Mekonomen Sweden	716	760
Mekonomen Norway	258	263
Sørensen og Balchen	259	255
Other segments 2)	298	264
Total	2 223	2 120

1) As of 1 January 2015, the store operations in Denmark have been presented as discontinued operations and are not therefore included in the MECA segment. For further information about discontinued operations, see below.

2) "Other segments" include Mekonomen's wholesale and store operations in Finland, Mekonomen's store operations in Iceland, Marinshopen, Meko Service Nordic with the BilLivet and Speedy workshop operations, the Car Share operations, Mekonomen car leasing service, Lasingoo Norway and Group-wide functions including Mekonomen AB (publ). Mekonomen AB's operations mainly comprise Group Management and finance management. As of 1 January 2016, "Other segments" includes units that were previously included in Mekonomen Nordic, but not included in Mekonomen Sweden or Mekonomen Norway. The comparative figures have been restated. For further information about the new segment division, refer to "Accounting policies" on page 10.

DISCONTINUED OPERATIONS

In December 2014, a decision was made regarding extensive structural changes and repositioning of the Group's Danish operations. All of the stores, which are also local warehouses, as well as the Danish head office have been closed. The franchise workshops were retained and these now receive deliveries of spare parts directly from regional and central warehouses, which has made logistics more efficient without intermediaries in the distribution chain.

In March 2015, the last two stores in Denmark were discontinued and from the first quarter of 2015, the Danish store operations have been presented according to the rules on discontinued operations in IFRS 5. All comparative periods have been restated. The Danish store operations were previously included in the MECA segment.

In the consolidated income statement, earnings generated by the discontinued store operations are recognised as an item under "Discontinued operations." This means that the discontinued operations have been excluded from all profit/loss items in the consolidated income statement and that only net earnings from the discontinued operations have been presented in the line item "Earnings/loss from discontinued operations." Cash flow from discontinued operations is included in the consolidated cash-flow statement and recognised separately below. The consolidated balance sheet has not been restated.

As at 30 September 2016, the accumulated translation reserve pertaining to Denmark was a negative SEK 14 M. The translation reserve pertaining to Denmark will be reclassified in shareholders' equity via profit or loss in the current amount on the date when the Danish company is liquidated.

PROFIT/LOSS FOR THE PERIOD AND OTHER COMPREHENSIVE INCOME FROM DISCONTINUED OPERATIONS, SEK M	Jul - Sep 2016	Jul - Sep 2015	Jan - Sep 2016	Jan - Sep 2015	12 months Oct - Sep	Full-year 2015
Revenue	0	0	0	36	0	36
Expenses	0	0	0	-36	0	-36
Profit from discontinued operations - before tax	0	0	0	0	0	0
Tax	0	0	0	-1	1	0
Profit/loss from discontinued operations - after tax	0	0	0	-1	1	0
Other comprehensive income:
Exchange-rate differences on translation of foreign subsidiaries	1	2	3	1	1	-1
Comprehensive income/loss from discontinued operations	1	2	3	0	2	-1

Separate financial information pertaining to the discontinued operations in Denmark is presented below.

CONDENSED CASH FLOW FROM	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
DISCONTINUED OPERATIONS, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Cash flow from operating activities	-3	-18	-8	-147	5	-134
Cash flow from investing activities	2	3	5	27	7	29
Cash flow from financing activities	0	0	0	0	0	0
Cash flow from discontinued operations	-1	-15	-3	-120	12	-105

FINANCIAL REPORTS, PARENT COMPANY

CONDENSED INCOME STATEMENT FOR	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
THE PARENT COMPANY, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Operating revenue	21	8	64	19	122	78
Operating expenses	-37	-16	-93	-55	-169	-130
EBIT	-16	-8	-30	-35	-47	-52
Net financial items 1)	-11	-5	27	416	64	453
Profit/loss after financial items	-27	-12	-2	380	18	401
Appropriations	-	0	0	0	226	226
Tax	6	3	10	8	-35	-37
PROFIT FOR THE PERIOD	-21	-10	8	389	208	589

1) Net financial items include dividends on participations in subsidiaries totalling SEK 47 M (421) for the nine-month period and SEK 489 M for the full-year 2015, and an impairment loss on participations in subsidiaries of SEK 0 M (0) for the nine-month period and SEK 35 M for the full-year 2015. Of the impairment loss on participations in subsidiaries, SEK 26 M pertains to the store operations in Denmark for the full-year 2015. As of 1 January 2016, net financial items also include a negative exchange-rate difference pertaining to net investment in foreign operations of SEK 2 M (neg: 1) for the third quarter, SEK 5 M (neg: 1) for the nine-month period and a negative SEK 3 for the full-year 2015. Comparative figures have been restated.

STATEMENT OF COMPREHENSIVE INCOME	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
FOR THE PARENT COMPANY, SEK M	2016	2015	2016	2015	Oct - Sep	2015
Profit for the period	-21	-10	8	389	208	589
Other comprehensive income,
net after tax 1)	-	-	-	-	-	-
COMPREHENSIVE INCOME FOR
THE PERIOD	-21	-10	8	389	208	589

1) Due to deletion of the exception in RFR 2 for recognition of exchange-rate differences pertaining to net investment in foreign operations, as of 1 January 2016, exchange-rate differences are presented in profit or loss rather than other comprehensive income. The comparative figures have been restated.

CONDENSED BALANCE SHEET FOR THE PARENT COMPANY,	30 September	30 September	31 December
SEK M	2016	2015	2015
ASSETS
Fixed assets	3 153	3 142	3 147
Current receivables in Group companies	1 258	1 387	1 583
Other current receivables	85	86	67
Cash and cash equivalents	80	150	210
TOTAL ASSETS	4 576	4 765	5 007
SHAREHOLDERS' EQUITY AND LIABILITIES
Shareholders' equity	2 532	2 575	2 775
Untaxed reserves	175	114	175
Provisions	2	0	2
Long-term liabilities	1 358	1 494	1 460
Current liabilities in Group companies	-	40	117
Other current liabilities	509	542	478
TOTAL SHAREHOLDERS' EQUITY AND LIABILITIES	4 576	4 765	5 007

SUMMARY OF CHANGES IN EQUITY FOR THE	30 September	30 September	31 December
PARENT COMPANY, SEK M	2016	2015	2015
Shareholders' equity at the beginning of the year	2 775	2 437	2 437
Comprehensive income for the period	8	389	589
Dividend to shareholders	-251	-251	-251
SHAREHOLDERS' EQUITY AT THE END OF THE PERIOD	2 532	2 575	2 775

ALTERNATIVE PERFORMANCE MEASURES

From the January-June 2016 interim report, Mekonomen applies the new Guidelines on Alternative Performance Measures issued by the ESMA*. Alternative performance measures are financial measures of historical or future financial performance, financial position, or cash flows that are not defined or specified in IFRS. Mekonomen believes that these measures provide valuable supplementary information to company management, investors and other stakeholders in evaluating the company's performance. These alternative performance measures are not always comparable with the measure used by other companies since not all companies calculate these measures in the same way. Accordingly, the measures are to be viewed as a supplement to the measures defined according to IFRS. For definitions of key figures, refer to page 23. For relevant reconciliation of the alternative performance measures that cannot be directly read in or derived from the financial statements, refer to the tables below. *The European Securities and Markets Authority.

RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES

RETURN ON SHAREHOLDERS' EQUITY	Jan - Sep 1)	Jan - Sep 1)	12 months	Full-year
SEK M	2016	2015	Oct - Sep	2015
Profit from continuing operations for the period (rolling 12 months)	352	456	352	430
- Minus non-controlling interests' share of profit for the period (rolling 12 months)	-6	-7	-6	-8
Profit for the period excluding non-controlling interests' share (rolling 12 months)	346	449	346	423
- Divided by SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT COMPANY'S SHAREHOLDERS, average over the past five quarters 2)	2 175	2 146	2 175	2 108
RETURN ON SHAREHOLDERS' EQUITY, %	15,9	20,9	15,9	20,0

2) SHAREHOLDERS' EQUITY ATTRIBUTABLE TO		2016		2015			2014
PARENT COMPANY'S SHAREHOLDERS, SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Shareholders' equity	2 276	2 139	2 257	2 155	2 111	2 053	2 204	2 080	2 344	2 192	2 331
- Minus Non-controlling interests' share of
shareholders' equity	-13	-10	-13	-12	-13	-10	-14	-14	-10	-7	-14
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO
PARENT COMPANY'S SHAREHOLDERS	2 263	2 129	2 244	2 143	2 098	2 043	2 190	2 066	2 334	2 185	2 318
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO
PARENT COMPANY'S SHAREHOLDERS, average
over the past five quarters	2 175	2 132	2 144	2 108	2 146	2 164	2 219	2 226	2 254	2 221	2 243

RETURN ON TOTAL CAPITAL	Jan - Sep 1)	Jan - Sep 1)	12 months	Full-year
SEK M	2016	2015	Oct - Sep	2015
Profit after financial items (rolling 12 months)	483	627	483	594
- Plus Interest expenses (rolling 12 months)	29	35	29	33
Profit after financial items plus interest expenses (rolling 12 months)	513	662	513	627
- Divided by TOTAL ASSETS, average over the past five quarters 3)	5 424	5 492	5 424	5 438
RETURN ON TOTAL CAPITAL, %	9,4	12,1	9,4	11,5

3) TOTAL ASSETS		2016			2015				2014
SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Total assets	5 466	5 481	5 387	5 361	5 426	5 392	5 627	5 384	5 631	5 580	5 634
TOTAL ASSETS,
average over the past five quarters	5 424	5 410	5 439	5 438	5 492	5 523	5 571	5 535	5 545	5 526	5 543

RETURN ON CAPITAL EMPLOYED	Jan - Sep 1)	Jan - Sep 1)	12 months	Full-year
SEK M	2016	2015	Oct - Sep	2015
Profit after financial items (rolling 12 months)	483	627	483	594
- Plus Interest expenses (rolling 12 months)	29	35	29	33
Profit after financial items plus interest expenses (rolling 12 months)	513	662	513	627
- Divided by CAPITAL EMPLOYED, average over the past five quarters 4)	4 122	4 180	4 122	4 134
RETURN ON CAPITAL EMPLOYED, %	12,4	15,8	12,4	15,2

1) The key figures for return on shareholders' equity/total capital/capital employed are calculated on a rolling 12-month basis for the January-September period and pertain to continuing operations.

4) CAPITAL EMPLOYED		2016			2015				2014
SEK M	Q3	Q2	Q1	Q4	Q3	Q2	Q1	Q4	Q3	Q2	Q1
Total assets	5 466	5 481	5 387	5 361	5 426	5 392	5 627	5 384	5 631	5 580	5 634
- Minus Deferred tax liabilities	-142	-148	-158	-169	-149	-156	-160	-168	-189	-201	-208
- Minus Long-term liabilities, non-interest-bearing	-25	-25	-9	-8	-4	-3	-3	-3	-1	-1	-1
- Minus Current liabilities, non-interest-bearing	-1 205	-1 154	-1 087	-1 099	-1 131	-1 068	-1 167	-1 234	-1 129	-1 055	-1 056
CAPITAL EMPLOYED	4 094	4 155	4 133	4 086	4 143	4 165	4 297	3 980	4 312	4 323	4 369
CAPITAL EMPLOYED
average over the past five quarters	4 122	4 136	4 165	4 134	4 180	4 216	4 256	4 232	4 275	4 261	4 272

GROSS MARGIN	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2016	2015	2016	2015	Oct - Sep	2015
Net sales	1 392	1 374	4 320	4 209	5 735	5 624
- Minus Goods for resale	-633	-607	-1 983	-1 881	-2 631	-2 529
Total	758	767	2 337	2 328	3 104	3 095
- Divided by Net sales	1 392	1 374	4 320	4 209	5 735	5 624
GROSS MARGIN, %	54,5	55,8	54,1	55,3	54,1	55,0

EARNINGS PER SHARE	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2016	2015	2016	2015	Oct - Sep	2015
Profit for the period	82	111	276	353	353	430
- Minus Non-controlling interests' share	-3	-3	-7	-8	-6	-8
Profit for the period attributable to
Parent Company's shareholders	79	108	269	345	347	423
- Divided by Average number of shares 5)	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487
EARNINGS PER SHARE, SEK	2,20	3,01	7,50	9,60	9,67	11,77

SHAREHOLDERS' EQUITY PER SHARE	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2016	2015	Oct - Sep	2015
Shareholders' equity	2 276	2 111	2 276	2 155
- Minus Non-controlling interests' share of shareholders' equity	-13	-13	-13	-12
SHAREHOLDERS' EQUITY ATTRIBUTABLE TO PARENT COMPANY'S
SHAREHOLDERS	2 263	2 098	2 263	2 143
- Divided by Average number of shares 5)	35 901 487	35 901 487	35 901 487	35 901 487
SHAREHOLDERS' EQUITY PER SHARE, SEK	63,0	58,4	63,0	59,7

CASH FLOW PER SHARE	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
SEK M	2016	2015	2016	2015	Oct - Sep	2015
Cash flow from operating activities	78	155	336	244	531	439
- Divided by Average number of shares 5)	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487
CASH FLOW PER SHARE, SEK	2,2	4,3	9,4	6,8	14,8	12,2

5) AVERAGE NUMBER OF SHARES	Jul - Sep	Jul - Sep	Jan - Sep	Jan - Sep	12 months	Full-year
	2016	2015	2016	2015	Oct - Sep	2015
Number of shares at the end of the period	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487
- Multiplied by number of days that the Number of shares at the end of the period remained
unchanged during the period	92	92	274	273	366	365
Number of shares at a different time during the period	0	0	0	0	0	0
- Multiplied by number of days that the Number of shares at a different time has existed
during the period	0	0	0	0	0	0
- Total divided by number of days during
the period	92	92	274	273	366	365
AVERAGE NUMBER OF SHARES	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487	35 901 487

NET DEBT	30 September	30 September	31 December
SEK M	2016	2015	2015
Long-term liabilities, interest-bearing	1 373	1 510	1 469
- Minus interest-bearing long-term liabilities and provisions for pensions, leasing, derivatives and similar obligations	-13	-14	-7
Current liabilities, interest-bearing	445	522	461
- Minus interest-bearing current liabilities and provisions for pensions, leasing, derivatives and similar obligations	-2	-2	-2
- Minus Cash and cash equivalents	-182	-256	-295
NET DEBT	1 620	1 760	1 626

FINANCIAL DEFINITIONS
Return on shareholders' equity	Profit for the period, excluding non-controlling interests, as a percentage of average shareholders' equity attributable to Parent Company's shareholders Average shareholders' equity attributable to Parent Company's shareholders is calculated as shareholders' equity attributable to Parent Company's shareholders at the end of the period plus the shareholders' equity for the four immediately preceding quarters attributable to the Parent Company's shareholders at the end of the period divided by five.
Return on total capital	Profit after net financial items plus interest expenses as a percentage of average total assets. Average total assets is calculated as total assets at the end of the period plus the total assets for the four immediately preceding quarters at the end of the period divided by five.
Capital employed	Total assets less non-interest-bearing liabilities and provisions including deferred tax liabilities.
Return on capital employed	Profit after net financial items plus interest expenses as a percentage of average capital employed. Average capital employed is calculated as capital employed at the end of the period plus the capital employed for the four immediately preceding quarters divided by five.
Equity/assets ratio	Shareholders' equity including non-controlling interest as a percentage of total assets.
Gross margin	Net sales less costs for goods for resale, as a percentage of net sales.
EBIT margin	EBIT after depreciation/amortisation as a percentage of total revenue.
EBITA	EBIT after depreciation according to plan but before amortisation and impairment of intangible fixed assets.
EBITA margin	EBITA as a percentage of total revenue.
EBITDA	EBIT before depreciation/amortisation and impairment of tangible and intangible fixed assets.
EBITDA margin	EBITDA as a percentage of total revenue.
Earnings per share	Profit for the period excluding non-controlling interests, in relation to the average number of shares. Average number of shares is calculated as the average number of shares at the end of the period multiplied by the number of days that this number existed during the period plus any other number of shares during the period multiplied by the number of days that this or these numbers existed during the period, with the total divided by number of days during the period.
Shareholders' equity per share	Shareholders' equity excluding non-controlling interests, in relation to the number of shares at the end of the period.
Cash flow per share	Cash flow from operating activities in relation to the average number of shares. Average number of shares is calculated as the average number of shares at the end of the period multiplied by the number of days that this number existed during the period plus any other number of shares during the period multiplied by the number of days that this or these numbers existed during the period, with the total divided by number of days during the period.
Net debt	Current and long-term interest-bearing liabilities for borrowing, meaning excluding pensions, leasing, derivatives and similar obligations, less cash and cash equivalents.
Cash and cash equivalents	Cash and cash equivalents comprise cash funds held at financial institutions and current liquid investments with a term from the date of acquisition of less than three months, which are exposed to only an insignificant risk of fluctuations in value. Cash and cash equivalents are recognised at nominal amounts.

COMPANY-SPECIFIC TERMINOLOGY AND DEFINITIONS

Proprietary stores	Stores with operations in subsidiaries, directly or indirectly majority owned, by Mekonomen AB.
Partner stores	Stores that are not proprietary, but conduct business under the Group's brands/store concepts.
Proprietary workshops	Workshops with operations in subsidiaries, directly or indirectly majority owned, by Mekonomen AB.
Affiliated workshops	Workshops that are not proprietary, but conduct business under the Group's brands/workshop concepts (Mekonomen Service Centre, MekoPartner, MECA Car Service, BilXtra and Speedy).
Concept workshops	Affiliated workshops.
Sales to customer group Affiliated workshops	Sales to affiliated workshops and sales to proprietary workshops.
Sales to customer group Other workshops	Sales to company customers that are not affiliated to any of Mekonomen Group's concepts, including sales in Fleet operations.
Sales to customer group Consumer	Cash sales from proprietary stores to other customer groups than Affiliated workshops and Other workshops, and the Group's e-commerce sales to consumer.
Underlying net sales	Sales adjusted for the number of comparable working days and currency effects.
Comparable units	Stores, majority-owned workshops and Internet sales that have been in operation for the past 12-month period and throughout the entire preceding comparative period.
Sales in comparable units	Sales in comparable units comprise external sales (in local currency) in majority-owned stores, wholesale sales to partner stores, external sales in majority-owned workshops and Internet sales.
ProMeister	Mekonomen Group's proprietary brand for high-quality spare parts with five-year guarantees.
Lasingoo	The car portal that Mekonomen Group owns together with industry players that simplifies the workshop selection and booking processes for car owners.
Fleet operations	Mekonomen Group's offering to business customers comprising service and repairs of cars, sales of spare parts, tyres, accessories and tyre storage.
Spare parts	Parts that are necessary for a car to function.
Accessories	Products that are not necessary for a car to function, but enhance the experience or extend use of the car, for example, car-care products, roof boxes, car seats for children, etc.
MECA+	MECA's service concept which meets the customers' high demands on quality, accessibility and comfort, with an extended offer of services and integrated solutions.
Currency effects in the balance sheet	Impact of currency with respect to realised and unrealised revaluation of foreign current non-interest-bearing receivables and liabilities.
Currency transaction effects	Impact of currency with respect to internal sales from Mekonomen Grossist AB, as well as from MECA Car Parts AB to each country.
Currency translation effects	Impact of currency from translation of earnings from foreign subsidiaries to SEK.
Other operating revenue	Mainly comprises rental income, marketing subsidies and exchange-rate gains in Mekonomen Group.

Mekonomen AB (publ)

Postal address: Box 19542 SE-104 32 Stockholm, Sweden

Visiting address: Solnavägen 4, 10th floor, Stockholm, Sweden

Tel: +46 8 464 00 00 E-mail: ir@mekonomen.se

www.mekonomen.com