OEM International

Quarterly Report • Oct 22, 2012

INTERIM REPORT Q3 2012

THIRDQUARTER 2012

• Incoming orders were SEK 336 million (345)
• Net sales were SEK 361 million (382)
• Profit before tax amounted to SEK 35 million (47)

JANUARI - SEPTEMBER 2012

• Incoming orders increased by 4% to SEK 1,232 million (1,181)
• Net sales rose 4% to SEK 1,224 million (1,174)
• Profit before tax rose 1% to SEK 130 million (129)
• Profit after tax rose 2% to SEK 96 million (94)
• Earnings per share were SEK 4.14 (4.04)

Events after the close of the reporting period

• Acquisition of Vanlid Transmission AB

CEO'S REVIEW

Slowdown in third quarter

The economic slowdown that was starting to make itself felt in the second quarter has become more pronounced in the third quarter. The decline in demand has especially impacted our operations in Sweden and Finland. Consolidated sales fell by 6% to SEK 361 million and incoming orders were down 2% to SEK 336 million in the third quarter compared to the year-ago quarter.

However, several companies continue to note steady demand, for example, Elektro Elco AB and the operations in Norway and Poland are reporting continuing growth.

The drop in turnover caused the operating margin to fall to 10.2% (12.3%) in the third quarter, although the operating margin for the trailing-twelve-month period increased to 10.8% (10.7%). Two record quarters coupled with a weaker third quarter have resulted in a nine-month report that shows 4% growth in sales and 2% growth in profit after tax. Furthermore, currency translation had about a 2% negative impact on turnover in the first nine months of the year.

New business management system

A new business management system from SAP was launched at four Swedish operations and the operations in Norway and Denmark. The transformation went according to plan without any disruptions or downtime. The new system enables us to continue streamlining processes and affords greater opportunities for developing our business activities. The system will be implemented gradually in most of the Group's companies over the next two years.

Acquisitions

After the close of the reporting period, an agreement was signed for the acquisition of Vanlid Transmission AB including its subsidiaries Ronson Transmission AB and Fenix Transmission AB with an annual turnover of approximately SEK 30 million. This is the Group's second acquisition this year and it aims to make further acquisitions before the end of the year.

Strong financial position

Over the past 12 months, we have generated a positive cash flow from operating activities amounting to SEK 120 million and have paid out SEK 81 million in dividends. The equity/assets ratio is 64% which means we have a strong financial position that allows us to continue developing operations and expanding through acquisition.

Strong position constitutes a good starting point

The first nine months of the year have further strengthened our position in many areas. The businesses we acquired last year have been efficiently integrated, we have launched a new business management system, increased our capacity in Finland by making alterations to the premises, made more acquisitions and, not least, won new market share.

The Group's experienced management team has previously shown the ability to be able to respond to the ups and downs of the economy. We are currently working to adapt our operations to the lower level of demand and are keeping a close watch on the many interesting business opportunities that are presenting themselves in the current economic situation.

Jörgen Zahlin Managing Director and Chief Executive Officer

THE GROUP

INCOMING ORDERS (SEK million) Incoming orders decreased during the third

NET SALES BY REGION

quarter by 2% to SEK 336 million (345) compared to last year.

Total incoming orders for January to September were 4% higher than in the year-ago period, amounting to SEK 1,232 million (1,181). Total incoming orders in 2012 have been 1% higher than net sales.

On 30 September 2012, order book volumes had fallen by 5% over the same period the previous year to SEK 240 million. This decrease is due to the weaker third quarter in 2012.

NET SALES (SEK million) Net sales decreased in the third quarter by 6% to SEK 361 million (382) over the year-ago quarter.

Net sales in January through September were up 4% over the same period last year, amounting to SEK 1,224 million (1,174). Net sales, excluding acquisitions, are on a par with last year.

Most of the companies are in line with last year's figures, while Elektro Elco AB in Sweden and the operations in Slovakia, Norway and Poland have reported positive percentage sales growth.

There are small percentage changes across the regions compared to the year-ago period, due mainly to implemented acquisitions.

The share for Region Sweden remains unchanged at 63%. The region's 4% growth is attributable to businesses acquired in 2011 and Elektro Elco's strong expansion.

The Finland and Baltic States Region has experienced a 1% decrease in market share to 15%. The region's 2% growth is attributable to business acquired in 2012.

The share of the market for Region Denmark, Norway, the UK and Central Eastern Europe has increased by 1% to 22%. 9% of the region's 10% growth has been realised through organic growth and 1% through acquisitions.

OPERATING PROFIT (SEK million) Operating profit decreased during the third

quarter by 21% to SEK 37 million (47) compared to the corresponding quarter last year. Operating profit for January through September exceeded the year-ago period by 2%. The positive earnings trend continues for the operations in the Norway, Denmark, the UK and Central Eastern Europe region, while some of the operations in Sweden and Finland/Baltic States have shown negative growth compared to the year-ago period.

Operating profit for the trailing twelve months increased by 6% to SEK 177 million (167).

OPERATING MARGIN (%) The operating margin decreased during the third quarter of the year to 10.2% (12.3%).

The trailing-twelve-month operating margin has increased to 10.8% compared to 10.7% one year ago.

The stronger trailing-twelve-month operating margin is attributable to ongoing efficiency measures and a slightly better gross margin.

RETURN ON EQUITY (%) The return on equity was 3.9% (5.4%) which is down on the year-ago quarter.

The trailing-twelve-month return on equity was 20% (20%) which is in line with targets.

Shareholders' equity amounted to SEK 655 million (623) with an equity/assets ratio of 64% (64%) on 30 September, 2012.

Note:

The return on equity for each quarter is listed by four to provide a better comparison with the trailing twelve months in the diagram.

THE REGIONS

SWEDEN

Sales are conducted under the company names of OEM Automatic, OEM Motor, OEM Electronics, Internordic Bearings, Telfa and Elektro Elco, Svenska Helag, Svenska Batteripoolen and Flexitron.

	Q1-	Q1-	Full
	Q3	Q3	year	Trailing
SEK million	2012	2011	2011	12
Incoming orders	795	772	1025	1048
Net sales	787	759	1037	1065
Operating profit/loss	104	108	139	135
Operating margin (%)	13	14	13	13

FINLAND AND THE BALTIC STATES

Sales are conducted under the company names of OEM Automatic, OEM Electronics, Internordic Bearings and Akkupojat.

	Q1-	Q1-	Full
	Q3	Q3	year	Trailing
SEK million	2012	2011	2011	12
Incoming orders	173	167	224	230
Net sales	170	172	229	227
Operating profit/loss	15	18	22	19
Operating margin (%)	9	10	10	8

DENMARK, NORWAY, UK, AND CENTRAL EASTERN EUROPE

Sales are conducted under the company names of OEM Automatic, OEM Automatic Klitsö and OEM Electronics.

	Q1-	Q1-	Full
	Q3	Q3	year	Trailing
SEK million	2012	2011	2011	12
Incoming orders	264	242	324	346
Net sales	266	243	324	347
Operating profit/loss	23	18	22	27
Operating margin (%)	9	8	7	8

Net sales increased by 4% in the first three quarters of the year compared to the corresponding period last year. The effect of acquired business increased net sales by approximately SEK 37 million compared with last year, which represents 5%.

Incoming orders in the period from January to September 2012 were 1% higher than net sales.

Operating profit is 4% lower than in the year-ago period due to a slightly lower margin combined with higher expenses.

Net sales in the year's first three quarters were at the same level as in the corresponding period last year.

Net sales increased by 2% measured in local currency. The effect of acquired business increased net sales by 4% measured in local currency.

Incoming orders exceeded net sales by 1%.

Operating profit decreased during the first three quarters by 17% compared to the same period last year. This is attributable to a lower gross margin and higher costs.

Net sales increased by 10% in the first three quarters of the year compared to the corresponding period last year. The effect of acquired business increased net sales by approximately SEK 2 million compared with last year, which represents 1%.

Total incoming orders for 2012 are 1% lower than net sales.

Increased net sales and margin improvement resulted in a 26% increase in the operating profit. The business operations in Norway, Poland and the UK are primarily responsible for the significant improvement in performance.

INFORMATION

Cash flow

Cash flow from operating activities during the first three quarters was SEK 79 million (67). The twelvemonth-trailing cash flow from operating activities was SEK 120 million (124). Total cash flow was SEK -25 million (-23) in the first three quarters of the year. This was impacted by investing activities of SEK 42 million (34) and dividends of SEK 81 million (70).

Investments

The Group's investments in property, plant and equipment totalled SEK 43 million (35). Property, machinery and equipment accounted for SEK 29 million (14), other intangible assets for SEK 9 million (0) and business combinations for SEK 5 million (21).

Cash and cash equivalents

Cash and cash equivalents, comprising cash and bank balances, amounted to SEK 135 million (151). Together with committed but undrawn credit facilities, cash and cash equivalents amounted to SEK 361 million (378) on 30 September, 2012.

Intangible assets

Amortisation of intangible assets totalling SEK 11 million (9.4) has been charged to the income statement. The value recognised in the Statement of Financial Position on 30 September, 2012, was SEK 140 million (120).

Equity/assets ratio

The equity/assets ratio was 64% (64%) on 30 September, 2012.

Employees

The Group's average number of employees for the period was 605 (551). At the end of the period, the number of employees was 613 (572). 18 of these employees come from acquired companies.

Share repurchase

The company has not repurchased any shares during the period. The company's total shareholding was 61,847 shares on 30 September, 2012, which is equivalent to 0.3% of the total number of shares. The Annual General Meeting is authorised to repurchase up to 10% of the shares, which is the equivalent of 2,316,930 shares.

Acquisitions

All shares in Akkupojat OY were acquired on 1 May.

Akkupojat OY reports annual sales of approximately EUR 1.5 million and markets batteries in Finland. The company became part of the Finland and Baltic States region on 1 May, 2012. The consideration for the business acquired amounted to

EUR 0.5 million plus contingent consideration, based on how the business develops in 2012 and 2013, estimated at EUR 0.2 million. The acquisition is expected to have a marginal positive impact on OEM's profit this year.

Preliminary acquisition analysis (SEK million)

The acquired company's net assets at the time of acquisition	Recognised value in the company	Fair value adjustment	Group fair value
Intangible fixed assets	-	3.2	3.2
Other non-current assets	0.3	-	0.3
Inventories	3.8	-	3.8
Other current assets	1.1	-	1.1
Other liabilities	-3.3	-0.8	-4.1
Net identifiable assets/liabilities	1.9	2.4	4.3
Consolidated goodwill	-	1.8	1.8
Cash consideration			6.1

As a result of the acquisition, other intangible assets have increased by SEK 3.2 million. The amount relates to customer relationships that will be amortised over a five-year period.

OEM normally uses an acquisition structure with a base consideration and contingent consideration. Contingent consideration is initially valued at the present value of the probable earnings, which amounts to SEK 1.6 million for the acquisitions this year. The period for contingent consideration is two years and the earnings may amount to a maximum of SEK 1.8 million.

Transaction expenses for the acquisition completed during the period amount to SEK 0.0 million. A revaluation of contingent consideration has not yet been carried out.

The effect of the implemented acquisition on consolidated sales for the period 1 May through 30 September is SEK 6.3 million and on profit before tax SEK 0.7 million.

Remeasurement of contingent considerations

Developments in previously implemented acquisitions have resulted in revaluation of contingent considerations recognised as liability that have decreased by SEK 2.4 million. This had a SEK 2.4 million impact on operating profit in the first three quarters.

Accounting policies

This condensed consolidated interim report has been prepared in compliance with IAS 34 Interim Financial Reporting and applicable provisions of the Swedish Annual Accounts Act. The interim report for the Parent Company has been prepared in compliance with the Swedish Annual Accounts Act Chapter 9, Interim Report and the Securities Market Act. The Group and the Parent Company have applied the same accounting policies and basis of preparation as in the latest annual report. In September, the Swedish Government proposed a reduction in the corporate tax rate from 26.3% to 22%, effective from 1 January, 2013. If this proposal is implemented, it will have a positive impact on OEM's performance and financial position on 31 December, 2012. If the reduced tax rate had been introduced on 30 September 2012, it would have had approximately a SEK 7 million impact on consolidated net earnings and equity. A final analysis of the effects will be compiled at the close of 2012.

Risks and uncertainties

The OEM Group is exposed to both business-related risks and financial risks through its activities. Business-related risks include competition and operational risks, and financial risks include liquidity risk, interest rate risk and currency risk. The OEM Group's financial activities and management of financial risks are conducted primarily by the Parent Company. Frameworks for risk management procedures and risk mitigation are in place. These frameworks are characterised by a low risk level. The basis is the structured and efficient management of the financial risks that arise in the business. For a complete report on the risks affecting the Group, please refer to page 7 and pages 46-49 of the 2011 annual report. This must be complemented with the economic slowdown that the company is experiencing, which will have an impact on net sales and earnings.

Estimates and assessments

Preparation of the interim report requires company management to make estimates, assessments and assumptions that affect the application of the accounting policies and the reported amounts for assets, liabilities, income and expenses. Actual outcomes may differ from these estimates and assessments, The critical assessments and sources of uncertainty in the estimates are the same as in the latest annual report, page 51.

Related party transactions

No related party transactions have been entered into that materially affected the financial position or the performance of the Group and Parent Company during the period, except for intra-Group dividend payments.

Parent Company

Net sales were SEK 14 million (14) and profit after financial items was SEK 16 million (-4.5).

Events after the close of the reporting period

After the close of the reporting period, all shares in Vanlid Transmission AB and its subsidiaries Ronson Transmission AB and Fenix Transmission AB have been acquired. This Group of companies markets transmission products in Sweden and has an annual turnover of approximately SEK 30 million.

Nomination Committee

The Nomination Committee for the Annual General Meeting on April 22, 2013, is composed of: Lars-Åke Rydh (Chairman) Hans Franzén Jerker Löfgren, Orvaus AB Agne Svenberg Bengt Stillström, AB Traction The Nomination Committee can be contacted through Lars-Åke Rydh, tel. +46 (0)705-924570 or via email lasse@lasserydh.se

Date of next report

The financial statement for the whole of 2012 will be published on 19 February 2013.

Tranås, Sweden, 22 October 2012

Jörgen Zahlin Managing Director and Chief Executive Officer

For further information, please contact Managing Director Jörgen Zahlin, on +46 (0)75-242 40 22, or Finance Director Jan Cnattingius on +46 (0)75-242 40 03.

The information in the report is such that OEM International AB (publ) is obliged to publish in accordance with the Securities Act. The information was released to the media for publication on 22 October 2012 at 2 p.m.

Auditors' Review Report on the Interim Report

To the Board of Directors of OEM International AB (publ.) Corporate Identity Number 556184-6691

Introduction

We have carried out a review of the interim report for OEM International AB (publ) as per 30 September 2012 and the nine-month period closing that date. The Board of Directors and Managing Director are responsible for the preparation and presentation of this interim report 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.

The objectives and scope of the review

We have conducted our review in accordance with the Swedish Standard on Review Engagements SÖG 2410, Review of Interim Report performed by the company's elected auditors. A review consists of making enquiries, primarily of persons responsible for financial and accounting matters, and applying analytical procedures to financial data and taking other review measures. A review has a different focus and is of significantly smaller scope than the objectives and scope of an audit conducted in accordance with the International Standards on Auditing (ISA) and other generally accepted auditing practices. The measures undertaken during a review allow us to be certain that we are aware of all the important factors that it would have been possible to identify had an audit been carried out. Therefore, the conclusion expressed based on a review does not have the same certainty as a conclusion expressed based on an audit.

Conclusion

Based on our review, no factors have come to light that give us reason to believe that the interim report has not, in all significant respects, been prepared for the Group in accordance with IAS 34 and the Swedish Annual Accounts Act, and, for the Parent Company, in accordance with the Swedish Annual Accounts Act.

Tranås, Sweden, 22 October 2012 KPMG AB

Kjell Bidenäs Chartered Accountant

REGIONS' SALES AND EARNINGS

TURNOVER AND RESULTS BY REGION *

Net turnover (SEK million) *

	Jan- Sept	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
		Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Sweden, external income	787	759	228	279	280	277	244		1 065 1 037
Sweden, income from other segments	61	47	17	22	22	19	17	80	66
Finland and the Baltic States, external income	170	172	51	62	57	57	57	227	229
Finland and the Baltic States, income from other segments 1,9		1,7	0,7	0,7	0,5	0,8	0,4	2,7	2,4
Denmark, Norway, the United Kingdom and
Central Eastern Europe, external income	266	243	81	96	89	81	80	347	324
Denmark, Norway, the United Kingdom and
Central Eastern Europe, income from other segments	0,7	3,5	0,3	0,3	0,2	0,2	0,3	0,9	3,7
Other operating segments/elimination	-63	-52	-18	-23	-23	-20	-17	-83	-72
	1 224	1 174	361	437	426	415	382		1 639 1 590
Operating profit (SEK million) *
	Jan-	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
	Sept	Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Sweden	104	108	26	36	42	32	37	135	139
Finland and the Baltic States	15	18	4,6	5,5	4,6	4,4	6,7	19	22
Denmark, Norway, the United Kingdom and
Central Eastern Europe	23	18	6,3	9,9	7,1	3,7	7,0	27	22
	142	144	37	51	54	40	51	182	183
	Jan- Sept	Jan- Sept	Q3 2012	Q2 2012	Q1 2012	Q4 2011	2011	12 mth	Q3 Trailing Full year 2011
	2012	2011
Operating profit, above segments	142	144	37	51	54	40	51	182	183
Group functions	-8,0	-13	-0,1	-3,7	-4,2	3,3	-4,4	-4,7	-9,6
Net financial items	-3,3	-1,6	-1,9	-0,5	-0,9	0,2	0,1	-3,2	-1,4
Profit/loss before tax	130	129	35	47	48	43	47	174	172
Other disclosures (SEK million) *
	Jan-	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
	Sept	Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Sweden
Assets	516	477	516	509	554	538	477	529	538
Liabilities	187	161	187	201	277	300	161	241	300
Finland and the Baltic States
Assets	106	88	106	109	92	87	88	99	87
Liabilities	45	36	45	47	40	38	36	43	38
Denmark, Norway, the United Kingdom and Central Eastern Europe
Assets	158	167	158	166	169	153	167	162	153
Liabilities	67	67	67	79	68	68	67	70	68

* Continuing operations

THE GROUP'S PERFORMANCE AND FINANCIAL POSITION

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME STATEMENT (SEK MILLION)

	Jan- Sept 2012	Jan- Sept 2011	Q3 2012	Q2 2012	Q1 2012	Q4 2011	2011	12 mth	Q3 Trailing Full year 2011
Continuing operations
Net sales	1 224	1 174	361	437	426	415	382		1 639 1 590
Other operating income	2,4	0,0	2,2	0,3	0,0	0,3	0,0	2,7	0,3
Operating costs	-1 068	-1 022	-318	-382	-369	-365	-328		-1 434 -1 388
Intangible asset amortisation	-11	-9,4	-3,9	-3,7	-3,6	-3,6	-3,2	-15	-13
Depreciation of property, plant and equipment	-13	-12	-4,3	-4,2	-4,2	-3,8	-3,9	-16	-15
Operating profit/loss	134	131	37	47	49	43	47	177	174
Net financial income/expense	-3,3	-1,6	-1,9	-0,5	-0,9	0,2	0,1	-3,2	-1,4
Profit/loss before tax	130	129	35	47	48	43	47	174	172
Tax	-35	-36	-8,7	-13	-13	-11	-13	-46	-47
Profit/loss for the period from
continuing operations	96	94	27	33	36	32	34	128	126
Discontinued operations Profit/loss for the period from discontinued operations, net after tax	0,0	-0,2	0,0	0,0	0,1	2,3	0,1	2,4	2,2
Profit/loss for the period	96	93	27	33	36	34	34	130	128
Other comprehensive income Exchange differences for the period arising on translation of foreign operations Other comprehensive income for the period	-7,3 -7,3	4,7 4,7	-5,6 -5,6	-1,1 -1,1	-0,6 -0,6	-5,9 -5,9	2,2 2,2	-13 -13	-1,2 -1,2
Comprehensive income for the period	88	98	21	32	35	29	36	117	127
Earnings per share outstanding, SEK * Earnings per share outstanding	4,15	4,03	1,15	1,45	1,55	1,49	1,48	5,64	5,52
from continuing operations, SEK*	4,14	4,04	1,15	1,44	1,55	1,39	1,48	5,53	5,43
Earnings per total shares, SEK * Earnings per total shares	4,14	4,03	1,15	1,44	1,55	1,49	1,48	5,63	5,52
from continuing operations, SEK*	4,13	4,04	1,14	1,44	1,55	1,38	1,48	5,51	5,42

* No effects of dilution present and the earnings are attributable to the parent company's shareholders.

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION (SEK MILLION)

	2012-09-30	2011-09-30	2011-12-31
Fixed assets
Goodwill	65	60	64
Other intangible assets	75	60	74
Total intangible assets	140	120	138
Property, plant and equipment	201	182	188
Financial fixed assets	0,1	2,3	0,6
Total property, plant and equipment	201	185	189
Deferred tax assets	2,1	2,4	2,2
Total financial fixed assets	2,1	2,4	2,2
Total fixed assets	343	307	330
Current assets
Inventories	265	246	269
Current receivables	274	269	262
Cash and cash equivalents	135	151	162
Total current assets	674	666	693
Total assets	1 017	973	1 023
Equity	655	623	648
Non-current interest-bearing liabilities	19	20	21
Provisions for pensions	0,4	0,0	0,5
Non-current, non-interest-bearing liabilities	3,2	0,0	7,4
Deferred tax liabilities	63	54	65
Total non-current liabilities	86	74	94
Current interest-bearing liabilities	85	76	65
Current non-interest-bearing liabilities	191	201	216
Total current liabilities	275	277	281
Total equity and liabilities	1 017	973	1 023

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY (SEK MILLION)

	2012-09-30	2011-09-30	2011-12-31
At beginning of year	648	594	594
Comprehensive income for the period	88	98	127
Repurchase of own shares in the period	0,0	0,0	-3,3
Dividends paid	-81	-70	-70
At the end of the period	655	623	648

CONDENSED CONSOLIDATED CASH FLOW STATEMENT (SEK MILLION)

	Jan-	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
	Sept	Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Cash flows from operating activities
before changes in working capital	118	116	34	41	43	51	46	169	166
Changes in working capital	-40	-49	-13	-5,7	-21	-9,1	-21	-49	-58
Cash flows from
operating activities	79	67	21	35	23	41	24	120	108
Cash flows from investing activities	-42	-34	-10	-18	-14	-23	-6,8	-65	-57
Cash flows after
investing activities	37	33	11	17	9,1	18	18	55	51
Cash flows from
financing activities
- Changes in financing liabilities	19	13	-7,2	8,9	18	-2,8	-9,9	16	10
- Dividends paid	-81	-70	0,0	-81	0,0	0,0	0,0	-81	-70
- Repurchase of own shares	0,0	0,0	0,0	0,0	0,0	-3,3	0,0	-3,3	-3,3
Cash flows from financing activities	-62	-56	-7,2	-72	18	-6,1	-9,9	-68	-62
Cash flows for the period	-25	-23	3,6	-55	27	12	7,8	-13	-11
Cash and cash equivalents at the beginning of the period	162	173	133	188	162	151	143	151	173
Exchange rate differences	-1,2	1,4	-1,0	-0,1	-0,1	-1,7	0,4	-2,9	-0,3
Cash and cash equivalents at the end of the period	135	151	135	133	188	162	151	135	162

KEY PERFORMANCE INDICATORS

	Jan-	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
	Sept	Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Return on equity, %	14,7	15,4	3,9	5,4	5,4	5,2	5,4	19,9	20,6
Return on capital employed, % *	18,0	19,2	4,7	6,7	6,6	6,1	6,7	24,1	25,3
Return on total capital % *	13,2	14,1	3,6	4,8	4,8	4,2	5,0	17,4	18,3
Equity/assets ratio, %	64,5	64,0							63,3
Earnings per share outstanding, SEK	4,15	4,03	1,15	1,45	1,55	1,49	1,48	5,64	5,52
Earnings per share outstanding
from continuing operations, SEK*	4,14	4,04	1,15	1,44	1,55	1,39	1,48	5,53	5,43
Earnings per total shares, SEK	4,14	4,03	1,15	1,44	1,55	1,49	1,48	5,63	5,52
Earnings per total shares
from continuing operations, SEK*	4,13	4,04	1,14	1,44	1,55	1,38	1,48	5,51	5,42
Equity per total shares, SEK	28,28	26,87							27,95
Average number of shares outstanding (thousands)	23 107	23 169		23 107 23 107	23 107				23 147 23 169 23 133 23 164
Total average shares (thousands)	23 169	23 169		23 169 23 169	23 169				23 169 23 169 23 169 23 169
Operating margin, % *	10,9	11,1	10,2	10,8	11,6	10,4	12,3	10,8	10,9

* Marked KPIs apply to continuing operations. Comparative figures do not include discontinued operations.

Other KPIs apply for the total operations (including discontinued operations) when the Statement of Financial Position for

the comparison periods, in accordance with IFRS 5, is not recalculated.

THE PARENT COMPANY'S PERFORMANCE AND FINANCIAL POSITION

CONDENSED INCOME STATEMENT OF THE PARENT COMPANY (SEK MILLION)

	Jan-	Jan-	Q3	Q2	Q1	Q4			Q3 Trailing Full year
	Sept	Sept	2012	2012	2012	2011	2011	12 mth	2011
	2012	2011
Net sales	14	14	4,9	4,4	4,7	28	4,4	42	41
Operating costs	-28	-30	-7,7	-10	-10	-8,3	-9,2	-36	-38
Depreciation	-2,5	-2,3	-1,0	-0,8	-0,8	-0,9	-0,8	-3,4	-3,2
Operating profit/loss	-16	-18	-3,8	-6,4	-5,9	18	-5,5	2,3	0,2
Income from investments
in Group companies	31	12	0,0	31	0,0	119	0,0	150	132
Net financial income/expense	1,1	1,6	0,2	0,5	0,4	0,5	0,5	1,6	2,1
Profit/loss after
financial items	16	-4,5	-3,6	25	-5,5	138	-5,0	152	134
Appropriations	0,0	0,0	0,0	0,0	0,0	-32	0,0	-32	-32
Profit/loss before tax	16	-4,5	-3,6	25	-5,5	106	-5,0	119	102
Tax	3,9	4,3	0,9	1,5	1,4	-29	1,2	-26	-25
Profit/loss for the period	20	-0,2	-2,6	26	-4,1	76	-3,8	94	76

CONDENSED PARENT COMPANY BALANCE SHEET (SEK MILLION)

Assets	2012-09-30	2011-09-30	2011-12-31
Intangible fixed assets	18	3,4	10
Property, plant and equipment	21	20	22
Financial fixed assets	314	309	307
Total fixed assets	353	332	339
Current receivables	149	124	223
Cash and bank balances	101	101	102
Total current assets	250	226	325
Total assets	603	558	664
Equity and liabilities
Equity	302	290	363
Untaxed reserves	130	98	130
Deferred tax liabilities	2,1	2,0	2,0
Non-current, non-interest-bearing liabilities	3,2	0,0	7,4
Total non-current liabilities	3,2	0,0	7,4
Current interest-bearing liabilities	0,0	0,0	0,0
Current non-interest-bearing liabilities	166	168	162
Total current liabilities	166	168	162
Total equity and liabilities	603	558	664
Pledged assets	7,5	7,5	7,5
Contingent liabilities	179	196	212

OEM is one of Europe's leading technology trading companies and consists of 25 operating units in 14 countries.