PION Group — Interim / Quarterly Report 2018

May 3, 2018

INTERIM REPORT 1 JANUARY – 31 MARCH 2018

Quarterly period January-March

• Poolia's revenue amounted to SEK 200.4 (199.2) million.
• Operating profit amounted to SEK 4.8 (7.0) million, with an operating margin of 2.4% (3.5%).
• Profit before tax was SEK 5.2 (7.0) million.
• Profit after tax was SEK 3.7 (4.8) million.
• Earnings per share amounted to SEK 0.22 (0.28).
• Cash flow from operations for the quarter was SEK -11.1 (8.6) million.

From the CEO

Poolia's total Q1 revenue of just over SEK 200 million was a little higher than for the same period in 2017. This was despite the fact that there were fewer working days than in Q1 2017.

Demand for both permanent placement and temporary staffing remains good in all three countries in which Poolia operates. At the same time, the lack of candidates and the fact that a large number of our temps are taking employment with the clients continues to have an adverse effect on the Company's growth. This trend in the temporary staffing business has been evident in both Germany and Sweden over the last two years. We are now also seeing similar tendencies in Finland. There are no signs that the situation will change in the foreseeable future.

Poolia Sweden increased its revenue for the first quarter by SEK 2.2 million to SEK 139.1 million, corresponding to growth of 1.6% from the same quarter the previous year. During the period, Poolia Sweden won several tendering processes, including the Municipalities of Nacka and Umeå and the Swedish Transport Administration. We are also seeing strong demand from a number of the large Swedish clients we signed contracts with in 2017.

Poolia Germany's revenue for the quarter amounted to SEK 50.8 (52.0) million, a decline of 2.3% compared with the same period in 2017. Temporary staffing in particular has shown a decline in what is a challenging market, with intense competition for qualified professionals and an increasing tendency for clients to employ our temps.

Revenue for the Finnish operations amounted to SEK 10.5 (10.3) million during the quarter, an increase of SEK 0.2 million or 1.9%. Finland's economy is now showing growth in excess of 3% and we see increased demand for our services, particularly in permanent placement.

The Swedish operations' share of the Group's revenue increased to 69.4% (68.8%) in the first quarter, while the German operations accounted for 25.3% (26.1%) of revenue and the Finnish operations for 5.2% (5.2%).

Poolia's operating profit amounted to SEK 4.8 (7.0) million, a decline of SEK 2.2 million from the same quarter in 2017. The operating margin was 2.4%

In Sweden, operating profit for the quarter amounted to SEK 1.4 (1.2) million, with an operating margin of 1.0% (0.9%). The German operations reported operating profit of SEK 3.0 (5.5) million, with an operating margin of 5.9% (10.6%). Poolia Finland's operating profit improved slightly to SEK 0.4 (0.3) million, with an operating margin of 3.8% (2.9%).

Cash flow from operations for the period was SEK -11.1 (8.6) million and was largely due to a temporary increase in current receivables. The Group's liquidity and financial position are good.

We devote a great deal of time and resources to operational efficiency and adapting to new market conditions in order to better meet clients' and temps' expectations. And by doing so, we create the conditions for even stronger growth and improved profitability.

Poolia's long-term goals and strategies stand firm.

Morten Werner Managing Director and CEO

Business concept

Poolia's business concept is to provide companies and organisations with the skills that meet their temporary or permanent needs for qualified professionals.

Poolia Quality

Poolia's business is the temporary staffing and permanent placement of qualified professionals. We specialise in the areas of Finance & Accounting, IT, Office Support, Human Resources, Sales & Marketing, Life Science & Engineering, Legal and Executive Search. This specialisation focuses our expertise and sharpens our knowledge of our clients' business operations. We understand our clients' staffing needs, and we have the processes and tests in place to ensure the client gets the right person. Our experience, specialisation, commitment and working methods combine to create the quality that gives our clients a crucial advantage:

JANUARY – MARCH GROUP

Revenue

The Group's revenue increased by 0.6% to SEK 200.4 (199.2) million. Currency effects had a positive impact of 1.4% (0.8%) on revenue. Temporary staffing is the largest service area. Permanent placement's share of revenue increased from 13% to 15%.

Earnings

Operating profit amounted to SEK 4.8 (7.0) million, with an operating margin of 2.4% (3.5%). The Group's net financial items amounted to SEK 0.4 (0.0) million. Profit before tax was SEK 5.2 (7.0) million. The Group's tax was SEK -1.5 (-2.2) million.

employees who not only perform, but also contribute. This is what we call Poolia Quality.

Market conditions

Demand for temporary staffing and permanent placement services in Poolia's three operating segments is strong. GDP for all three countries is expected to grow by 2-3% in 2018.

The purchasing managers index for services in Sweden fell relatively sharply in the first quarter, from 64.6 to 59.2, which is the largest decline in several years. A reduced order intake was the most instrumental factor in the decline. However, 59.2 is still a high level in a historical context. This indicates that economic activity is also likely to remain high in the coming quarters.

We maintain our positive view of the long-term outlook for the staffing industry.

Poolia's segments during the quarter

POOLIA SWEDEN

Revenue

Poolia Sweden's revenue amounted to SEK 139.1 (136.9) million, an increase of 1.6% compared with the same period the previous year.

Permanent placement's share of revenue was 15% (14%) during the quarter.

Earnings

Poolia Sweden's operating profit was SEK 1.4 (1.2) million. The operating margin was 1.0% (0.9%).

As in recent quarters, the Swedish operations, are experiencing high demand for both temporary staffing and permanent placement services, with the latter also showing good growth.

Temporary staffing operations are being adversely affected by a lack of candidates combined with a strong tendency for clients to employ Poolia's temps.

POOLIA GERMANY

Revenue

Poolia Germany's revenue amounted to SEK 50.8 (52.0) million, a decline of 2.3%. Currency effects had a positive impact of 4.8% (positive 2.4%) on revenue during the quarter. Revenue was also affected by the fact that there were two fewer working days than in the same period the previous year. Permanent placement's share of revenue increased from 10% to 14%.

Earnings

Poolia Germany's operating profit was SEK 3.0 (5.5) million. The operating margin was 5.9% (10.6%).

Poolia Germany is feeling the negative effects of a challenging temporary staffing market, dominated by intense competition for qualified professionals. We are therefore investing more in the permanent placement business and working intensively to increase it.

The office in Stuttgart, which opened in Q3 2016, is developing better than planned.

Andel av koncernens intäkter i kvartalet

POOLIA FINLAND

Revenue

Poolia Finland's revenue for the quarter amounted to SEK 10.5 (10.3) million, an increase of 1.9%. Currency effects had a positive impact of 4.8% (positive 2.4%) on revenue during the quarter. Permanent placement's share of revenue has increased from 8% to 12%.

Earnings

Poolia Finland's operating profit was SEK 0.4 (0.3) million, with an operating margin of 3.8% (2.9%).

In order to better exploit the opportunities that arise when the Finnish economy returns to growth, Poolia is investing in sales & marketing and increased resources for managing the increased demand.

Operating segments

Poolia's segment reporting is based on internal reporting, which means that the segment reporting format is geographical regions.

Poolia's geographical segments are Sweden, Finland and Germany. All Parent Company expenses are allocated to the operating segments.

REVENUE PER OPERATING SEGMENT

	2018	2017	2017
Amounts in SEK millions	Jan-Mar	Jan-Mar	Jan-Dec
Poolia Sweden	139.1	136.9	534.5
Poolia Germany	50.8	52.0	197.6
Poolia Finland	10.5	10.3	39.2
Total revenue	200.4	199.2	771.3

OPERATING PROFIT/LOSS PER OPERATING SEGMENT

	2018	2017	2017
Amounts in SEK millions	Jan-Dec	Jan-Mar	Jan-Dec
Poolia Sweden	1.4	1.2	7.8
Poolia Germany	3.0	5.5	12.9
Poolia Finland	0.4	0.3	1.3
Total operating profit/loss, continuing operations	4.8	7.0	22.0
Discontinued operations
Poolia UK	-	-	-0.6
Total operating profit/loss	4.8	7.0	21.4
Reversal of discontinued operations	-	-	0.6
Financial items	0.4	0.0	-1.7
Profit before tax and discontinued operations	5.2	7.0	20.3

JANUARY – MARCH GROUP

Revenue

The Group's revenue for continuing operations increased by 0.6% to SEK 200.4 (199.2) million. Currency effects had a positive impact of 1.4% on revenue. Temporary staffing is the largest service area. Permanent placement's share of revenue increased to 15% (13%). The chart below shows the Group's revenue by segment during the period.

Liquidity and financing

The Group's cash and cash equivalents at 31 March 2018 were SEK 40.3 (34.5) million. Cash flow from operating activities during the period was SEK -11.1 (8.6) million. The equity/assets ratio at 31 March 2018 was 35.0% (37.3%). Group transactions with one and the same lender are offset in the consolidated balance sheet. The Parent Company's credit balances and credit utilisation are recognised in the Parent Company's financial statements. The Group's Swedish business has a joint cash pool and an overdraft facility of SEK 40 (40) million. At 31 March 2018, SEK 27.4 (4.1) million of this amount had been utilised.

Earnings

Operating profit amounted to SEK 4.8 (7.0) million, with an operating margin of 2.4% (3.5%). The Group's net financial items amounted to SEK 0.4 (0.0) million. Profit before tax was SEK 5.2 (7.0) million. The Group's tax expense was SEK -1.5 (-2.2) million.

Investments

The Group's investments in non-current assets during the period were SEK 2.4 (0.5) million.

Pledged assets and contingent liabilities

Poolia AB has pledged shares in subsidiaries as security for its bank overdraft facility.

The share

Poolia's shares are listed on NASDAQ Stockholm under the ticker POOL B. The number of shares issued is 17,121,996.

The price on the reporting date was SEK 12.70. During the period, 718,045 shares were traded at a total value of SEK 10.2 million.

Dividend policy

According to Poolia's dividend policy, the annual dividend shall normally exceed 50% of the Group's profit after tax.

Employees

The average number of full-time equivalents was 1,187 (1,273). The number of employees at 31 March 2018 was 1,328 (1,430).

Seasonal variations

Number of working days in 2018:

	Sweden	Germany	Finland
Jan-Mar	63(64)	63(65)	62(63)
Apr-Jun	60(59)	60(59)	62(63)
Jul-Sep	65(65)	65(65)	65(63)
Oct-Dec	62(63)	62(60)	62(63)
Full year	250(251)	250(249)	251(252)

Parent

Group management, development and financial and IT management are centralised in the Parent Company. All Parent Company expenses are allocated to the operating segments. Revenue during the period was SEK 3.0 (3.6) million. Profit/loss after financial items was SEK -0.2 (-0.8) million.

Significant risks and uncertainties

Risks and risk management are described in Poolia's 2017 Annual Report. The risks can be summarised as economic fluctuations, dependence on clients and individuals, legislation and regulations, and financial risks. Significant risks and uncertainties at 31/03/2018 are unchanged from those at 31/12/2017.

Events after the end of the period

There were no significant events to report after the end of the period.

Related party transactions

There were no related party transactions during the period that had a significant effect on the Company's financial position and performance.

	2018	2017	2017
Amounts in SEK millions	Jan-Mar	Jan-Mar	Jan-Dec
Operating income	200.4	199.2	771.3
Operating expenses
Staff costs	-178.9	-175.2	-688.8
Other expenses	-16.0	-16.3	-57.9
Depreciation and amortisation of assets	-0.7	-0.7	-2.6
Operating profit	4.8	7.0	22.0
Finance income	0.6	0.1	0.1
Finance costs	-0.2	-0.1	-1.8
Profit before tax	5.2	7.0	20.3
Tax	-1.5	-2.2	-7.8
Profit/loss for the period from continuing operations	3.7	4.8	12.5
Discontinued operations
Profit/loss for the period from discontinued operations	0.0	0.0	0.5
Profit/loss for the period	3.7	4.8	13.0
Other comprehensive income
Items that will be reclassified to the income statement
Translation differences	1.9	2.0	3.9
Total comprehensive income for the period	5.6	6.8	16.9
Operating margin, continuing operations, %	2.4	3.5	2.9
Profit margin, continuing operations, %	2.6	3.5	2.6
Profit/loss for the period attributable to:
Shareholders of the Parent	3.7	4.8	13.0
Non-controlling interests	0.0	0.0	0.0
Basic and diluted earnings per share, SEK
Earnings per share from continuing operations
and discontinued operations	0.22	0.28	0.76
Earnings per share from continuing operations	0.22	0.28	0.73
Total comprehensive income attributable to:
Shareholders of the Parent	5.6	6.8	16.9
Non-controlling interests	0.0	0.0	0.0

CONDENSED CONSOLIDATED COMPREHENSIVE INCOME

Amounts in SEK millions	31/03/2018	31/03/2017	31/12/2017
Assets
Non-current assets
Goodwill	19.0	18.9	18.8
Other non-current assets	6.0	4.6	6.9
Deferred tax assets	10.1	11.1	10.4
Current assets
Current receivables	192.9	167.7	173.9
Cash and cash equivalents	40.3	34.5	42.8
Total assets	268.3	236.8	252.8
Equity and liabilities
Equity	93.8	88.4	88.2
Non-controlling interests	0.0	0.0	0.0
Total equity	93.8	88.4	88.2
Current liabilities
Interest-bearing liabilities	27.4	4.1	20.4
Other current liabilities	147.1	144.3	144.2
Total equity and liabilities	268.3	236.8	252.8

CONDENSED CONSOLIDATED BALANCE SHEET

CONDENSED CONSOLIDATED CASH FLOW STATEMENT

	2018	2017	2017
Amounts in SEK millions	Jan-Mar	Jan-Mar	Jan-Dec
Profit before tax	5.2	7.0	20.3
Adjustments	0.0	0.7	3.8
Income tax paid	-5.9	-2.6	-4.7
Cash flow from operating activities before changes in working capital	-0.7	5.1	19.4
Increase (-)/decrease (+) in current receivables	-15.2	9.1	3.0
Increase (+)/decrease (-) in current liabilities	4.8	-5.6	-8.5
Cash flow from operating activities	-11.1	8.6	13.9
Cash flow from investing activities	-0.1	-0.5	-4.9
Dividend to shareholders	0.0	0.0	-10.3
Borrowings/Repayment of borrowings	7.0	-10.1	6.3
Cash flow from financing activities	7.0	-10.1	-4.0
Cash flow for the period	-4.2	-2.0	5.0
Cash flow for the period, discontinued operations	0.0	0.0	0.0
Cash and cash equivalents at beginning of period	42.8	36.6	36.6
Exchange differences	1.7	-0.1	1.2
Cash and cash equivalents at end of period	40.3	34.5	42.8

	2018	2017	2017
Amounts in SEK millions	Jan-Mar	Jan-Mar	Jan-Dec
Opening balance	88.2	81.6	81.6
Total comprehensive income for the period attributable to shareholders of the Parent	5.6	6.8	16.9
Dividend to shareholders of the Parent	0.0	0.0	-10.3
Closing balance attributable to shareholders of the Parent	93.8	88.4	88.2
Non-controlling interests	0.0	0.0	0.0
Total equity, closing balance	93.8	88.4	88.2

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

CONDENSED INCOME STATEMENT – PARENT COMPANY

	2018	2017	2017
Amounts in SEK millions	Jan-Mar	Jan-Mar	Jan-Dec
Operating income	3.0	3.6	12.9
Operating expenses
Staff costs	-2.9	-3.0	-12.0
Other expenses	-0.6	-1.1	-2.9
Depreciation, amortisation and impairment of assets	-0.1	-0.1	-0.6
Operating profit	-0.6	-0.6	-2.6
Finance income	0.7	-	56.1
Finance costs	-0.3	-0.2	-2.0
Profit/loss after financial items	-0.2	-0.8	51.5
Group contributions	-	-	5.0
Tax	-	0.2	-0.1
Profit/loss for the period	-0.2	-0.6	56.4
Other comprehensive income	-	-	-
Total comprehensive income for the period	-0.2	-0.6	56.4

CONDENSED BALANCE SHEET – PARENT COMPANY

Amounts in SEK millions	31/03/2018	31/03/2017	31/12/2017
Assets
Non-current assets
Investments in Group companies	23.6	23.6	23.6
Deferred tax assets	3.0	3.3	3.0
Other non-current assets	0.9	0.7	1.1
Current assets
Current receivables	1.1	1.1	2.5
Receivables from Group companies	67.4	41.1	59.1
Total assets	96.0	69.8	89.3

Equity and liabilities

Equity	63.3	16.7	63.5
Liabilities to Group companies	0.7	44.5	0.7
Interest-bearing liabilities	27.4	4.1	20.4
Other current liabilities	4.6	4.5	4.7
Total equity and liabilities	96.0	69.8	89.3

THE GROUP'S KEY FINANCIAL RATIOS BY QUARTER ¹

	2018	2017	2017	2017	2017	2016	2016	2016
	Jan Mar	Oct Dec	Jul Sep	Apr Jun	Jan Mar	Oct Dec	Jul Sep	Apr Jun
Operating income, SEK million	200.4	196.8	180.9	194.2	199.2	198.9	183.6	201.9
Growth, %	0.6	-1.1	-1.5	-3.8	-0.5	-5.3	3.3	8.0
Growth in local currency, %	-0.8	-3.3	1.1	-5.0	-1.3	-4.6	-0.2	8.0
Operating margin, %	2.4	0.7	4.1	3.1	3.5	4.4	3.2	3.9
Profit margin, %	2.6	0.0	4.1	2.9	3.5	4.4	2.6	3.2
Return on capital employed2, %	18.5	21.2	27.2	28.3	32.4	24.2	23.8	28.6
Return on total assets2, %	7.9	8.7	11.7	11.2	12.3	8.8	9.7	10.6
Return on equity2, %	13.1	15.4	24.8	22.6	22.0	14.9	19.4	21.2
Equity/assets ratio, %	35.0	34.9	35.6	33.8	37.3	33.2	31.0	29.5
Risk-bearing capital, %	35.0	34.9	35.6	33.8	37.3	33.2	31.0	29.5
Number of FTEs, average	1,187	1,229	1,275	1,291	1,273	1,271	1,198	1,247
Revenue per employee, SEK 000	169	160	142	150	156	156	153	162
Number of shares, average (000)	17,122	17,122	17,122	17,122	17,122	17,122	17,122	17,122
Number of shares, outstanding (000)	17,122	17,122	17,122	17,122	17,122	17,122	17,122	17,122
Basic earnings per share3, SEK	0.22	-0.11	0.37	0.21	0.28	0.30	0.20	0.26
Equity per share, SEK	5.48	5.16	5.13	4.83	5.16	4.76	4.41	4.16

¹ The periods Jan-Mar 2018 and Jan-Mar 2017 have been restated according to IFRS 15

² Trailing12 months, incl. discontinued operations.

³ No dilutive effects.

THE GROUP'S KEY FINANCIAL RATIOS BY PERIOD

	2018	2017
	Jan-Mar	Jan-Mar
Operating margin, %	2.4	3.5
Profit margin, %	2.6	3.5
Basic earnings per share1, SEK	0.22	0.28
Equity per share, SEK	5.48	5.16

¹ No dilutive effects.

RECONCILIATION OF ALTERNATIVE PERFORMANCE MEASURES

Definitions of key financial ratios can be found on page 13. In the interim report, Poolia presents certain alternative performance measures (APM) that are not defined under IFRS. Poolia has chosen to present the Company's alternative performance measures as a separate appendix, in accordance with the guidelines of the European Securities and Markets Authority (ESMA). The appendix is published on www.poolia.com.

NOTES

NOTE 1 ACCOUNTING POLICIES

The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act, and for the Parent Company in accordance with the Swedish Annual Accounts Act and the Swedish Financial Reporting Board's recommendation RFR 2 Accounting for Legal Entities. Unless specified otherwise below, the accounting policies applied for the Group and the Parent Company are consistent with the accounting policies applied when preparing the most recent annual report.

IFRS 15 Revenue from Contracts with Customers has replaced existing standards related to revenue recognition with effect from 2018. The Company applies IFRS 15 with full retrospective application. This means that the revenue is reported when the client obtains control of the sold service and can use and benefit from the service. Under IFRS 15, the permanent placement service is seen as one entire performance obligation that is to be recognised at one point in time. This means that Poolia will recognise the revenue at a later point in time than under the current principles and the effects are shown in the tables below. The effects are entirely related to the Swedish operations, as other countries already report in this way. A more detailed description of accounting policies under IFRS 15 can be found in Poolia's 2017 Annual Report.

The Group's revenue by segment

Amounts in SEK millions

31/03/2018	Sweden	Finland	Germany	Total	UK	Elimination	Group
Operating income
Temporary staffing	118.8	9.3	43.5	171.6	-	-	171.6
Permanent placement	20.3	1.2	7.3	28.8	-	-	28.8
Total operating income	139.1	10.5	50.8	200.4	-	-	200.4
Timing of revenue recognition Performance obligation satisfied:
at one point in time	20.3	1.2	7.3	28.8	-	-	28.8
over time	118.8	9.3	43.5	171.6	-	-	171.6
Total	139.1	10.5	50.8	200.4	-	-	200.4
31/03/2017	Sweden	Finland	Germany	Total	UK	Elimination	Group
Operating income
Temporary staffing	118.0	9.5	47.3	174.8	-	-	174.8
Permanent placement	18.9	0.8	4.7	24.4	-	-	24.4
Total operating income	136.9	10.3	52.0	199.2	-	-	199.2
Timing of revenue recognition Performance obligation satisfied: at one point in time	18.9	0.8	4.7	24.4	-	-	24.4
over time	118.0	9.5	47.3	174.8	-	-	174.8
Total	136.9	10.3	52.0	199.2	-	-	199.2

Effects on income, expenses and profit for the period

Amounts in SEK millions	01/01/2017- 31/03/2017	01/01/2017- 31/12/2017
Recognised Operating income	199.6	771.5
Restatement according to IFRS 15
Increase/decrease due to changed timing of permanent placement revenue recognition	-0.4	-0.2
Restated Operating income	199.2	771.3
Recognised Tax	-2.2	-7.8

Restatement according to IFRS 15
Increase/decrease in Tax	0.1	0.0
Restated Tax	-2.1	-7.8
Recognised Profit for the period	5.1	13.1
Restatement according to IFRS 15
Increase/decrease in Profit for the period	-0.3	-0.1
Restated Profit for the period	4.8	13.0

Effect on calculation of earnings per share

Amounts in SEK	01/01/2017- 31/03/2017	01/01/2017- 31/12/2017
Increase/decrease in Basic earnings per share	-0.02	-0.01
Increase/decrease in Diluted earnings per share	-0.02	-0.01

Effects on assets, liabilities and equity, 1 January 2017

Amounts in SEK millions	Recognised balance sheet items	Restatement according to IFRS 15	Restated balance sheet items
Assets
Deferred tax assets	11.2	0.0	11.2
Current receivables	174.4	0.0	174.4
Total equity
Equity	81.6	0.0	81.6

Effects on assets, liabilities and equity, 31 March 2017

Amounts in SEK millions	Recognised balance sheet items	Restatement according to IFRS 15	Restated balance sheet items
Assets
Deferred tax assets	11.0	0.1	11.1
Current receivables	168.1	-0.4	167.7
Total equity
Equity	88.7	-0.3	88.4

Effects on assets, liabilities and equity, 31 December 2017

Amounts in SEK millions	Recognised balance sheet items	Restatement according to IFRS 15	Restated balance sheet items
Assets
Deferred tax assets	10.4	0.0	10.4
Current receivables	174.0	-0.1	173.9
Total equity
Equity	88.3	-0.1	88.2

IFRS 9 Financial Instruments has replaced IAS 39 Financial Instruments: Recognition and Measurement with effect from 2018. IFRS 9 contains new principles for classification and measurement of financial assets, and new rules on impairment testing of financial assets. An analysis based on historical loss levels has been conducted and as no significant effects have been identified, opening balances for 2018 have not been adjusted.

DEFINITIONS

In this interim report, Poolia presents certain financial performance measures that are not defined under IFRS. Poolia believes that these measures provide useful supplementary information for investors and Company management as they allow for an evaluation of relevant trends. As not all companies calculate financial performance measures in the same way, these are not always comparable with measures used by other companies. These financial performance measures should therefore not be seen as a replacement for measures defined under IFRS. In the key ratios below, the average is the sum of the opening and closing values divided by two.

KEY RATIOS DEFINED UNDER IFRS

Earnings per share

Profit/loss after tax for the period divided by the average number of shares.

KEY RATIOS NOT DEFINED UNDER IFRS

Growth

Increase in operating income compared with the same period the previous year, expressed as a percentage. Risk-bearing capital Equity, including non-controlling interests and provisions for taxes, as a percentage of total assets. Return on equity Profit/loss after tax divided by average equity. Return on capital employed Profit/loss before tax plus finance costs divided by average capital employed. Return on total assets Profit/loss before tax plus finance costs divided by average total assets. Equity per share Equity divided by the number of shares outstanding. Revenue per employee Operating income divided by the average number of FTEs. Operating margin Operating profit as a percentage of operating income. Equity/assets ratio Equity, including non-controlling interests, as a percentage of total assets. Capital employed Total assets less total current liabilities, including provisions for taxes. Profit margin Profit before tax as a percentage of operating income. Operating profit Operating income less operating expenses.

OPERATIONAL MEASURES

Number of FTEs, average

The total number of hours worked during the period divided by the normal number of working hours for a full-time employee.

The Board of Directors and CEO hereby certify that the interim report provides a true and fair view of the operations, financial position and financial performance of the Parent Company and the Group, and describes the material risks and uncertainties that the Parent Company and Group companies face.

Future reporting dates

Interim Report, Jan-Jun 2018 27 July 2018 Interim Report, Jan-Sep 2018 25 October 2018 Year-end report 2018 15 February 2018

The Annual General Meeting will be held at the Company's premises in Stockholm, at Kungsgatan 57 A, 4th floor, at 4 p.m. on 25 April 2018.

Stockholm, 25 April 2018

Björn Örås Chairman of the Board

Lennart Pihl Board member

Marika Skärvik Board member

Dag Sundström Board member

Anna Söderblom Board member

Morten Werner Managing Director and CEO

This interim report has not been reviewed by the Company's auditors.

Contact person: Morten Werner Managing Director and CEO Tel. +46 (0)70-636 25 25 morten.werner@poolia.se

POOLIA AB (PUBL)

Kungsgatan 57 A Box 207 SE-101 24 Stockholm Tel: 08-555 650 00 Fax: 08-555 650 01 Corp. ID no.: 556447-9912 www.poolia.com