Profilgruppen — Interim / Quarterly Report 2018

Oct 23, 2018

Interim report January 1 - September 30, 2018

The build up of a new production facililty is started

This is a translation of the Swedish version of the report. In case of any discrepancies, the Swedish version shall prevail.

Third quarter

• Turnover MSEK 354.3 (314.1), up 13 percent compared to previous year
• Operating profit MSEK 22.4 (20.7)
• Operating margin 6.3 percent (6.6)
• Net income MSEK 16.2 (15.2)
• Cash flow from operating activities MSEK 16.6 (48.2)
• Earnings per share SEK 2.29 kr (1.87)

First nine months

• $\bullet$ Turnover MSEK 1 204.0 (1 015.6), up 19 percent compared to previous year
• Operating profit MSEK 89.7 (79.1)
• Operating margin 7.5 percent (7.8)
• Net income MSEK 66.4 (58.8)
• Cash flow from operating activities MSEK 75.8 (60.9)
• Earnings per share SEK 8.75 kr (7.31)
• Decision to invest MSEK 310 in new extrusion plant for increased capacity

Per Thorsell, CEO of ProfilGruppen, comments:

"We deliver a strong quarterly result in the base, but the result is burdened by disruptions in our new production facility in the subsidary PG&WIP. The positive news are that we during the quarter have solved the problems in process and quality that have arised and that the production now is successfully ramped up to produce according to plan in the end of the fourth quarter.

I think that all parts in the organization are doing a strong work and are continuously developing to create an even better customer benefit and effectiveness. Meanwhile the work with our new extrusion facility goes according to plan and even more strengthens the power and amibiton throughout the organization."

Market

The market for aluminium extrusions in Scandinavia is, by the European Aluminium Association (EAA), assessed to have grown by approximately three percent during the first nine months of the year compared to the same period in 2017 and by approximately two percent in Europe overall. The growth is assessed to have been slightly lower during the last quarter and to continue that way for the rest of the year.

Turnover and result in the third quarter

Turnover amounted to MSEK 354.3 (314.1), of which a significant part of the increase is related to a higher market price of raw material. During the quarter approximately 6,900 tonnes (6,600) of aluminium extrusions were delivered, an increase by 5 percent compared to the same period 2017.

The production was about 6,525 tonnes (6,350). The share of exports amounted to 46 percent (42) of volume, and 48 percent (45) of turnover.

The operating profit amounted to MSEK 22.4 (20.7). Costs caused by disruptions and quality problems in the new production line in the subsidiary PG&WIP has affected the quarterly result negatively by MSEK 7.5 (0.0). We have a technical solution in place now and the production will gradually be ramped up during the fourth quarter and we are expecting to produce according to plan during the last part of the year.

We have had some disruptions and costs related to start up and upgrading of existing equipment. The product mix and level of added value were favourable, margin improvements and value increase in stock contributed positively.

The operating margin amounted to 6.3 percent (6.6)

The profit after financial items amounted to MSEK 20.8 (19.5). Earnings per share totalled SEK 2.29 (1.87).

Turnover and result during the first nine months

The turnover for the Group during the first nine months of 2018 amounted to MSEK 1 204.0 (1 015.6), an increase of about 19 percent compared to previous year. The increase is partly affected by a higher price for raw material.

The share of exports amounted to 44 percent (42) of delivered volume, and 48 percent (45) of the turnover.

The delivery volumes have increased about 12 percent to 24,475 tonnes (21,875) of aluminium extrusions. Of delivered aluminium extrusions nearly 70 percent were added higher value.

During the first nine months of 2018 the Group manufactured 24,350 tonnes (21,600) of aluminium extrusions

The operating profit for the first nine months amounted to MSEK 89.7 (79.1). The profit of the previous year was effected positively by a capital gain of MSEK 2.9 from sale of a property.

Costs regarding start up, quality problems and disruptions of the new production line in the subsidiary PG&WIP have meanwhile affected the result of the year negatively by MSEK 12.2 (0.0). The result development in other parts of the business has been achieved by higher volumes, higher capacity utilization and efficiency measures and margin improvements. Value increase in stock is on the same level as last year.

Operating profit, MSEK

Operating margin, % (Long term target 8%)

Interim report January 1 - September 30, 2018 ProfilGruppen AB (publ) Page 2 of 10

The operating margin amounts to 7.5 percent (7.8). ProfilGruppen's target is an operating margin of 8 percent.

The profit before tax amounted to MSEK 85.1 (75.4). The profit after tax amounted to MSEK 66.4 (58.8).

Earnings per share totalled SEK 8.75 (7.31). The average number of shares in thousands was 7,399 (7,399).

The return on capital employed amounted to 25.4 percent $(26.3)$ .

Investments

Investments during the first nine months amounted to MSEK 72.6 (57.3).

An ongoing project to develop the IT systems of the company has affected the investments in intangible assets by MSEK 13.5 (0.0).

Of the investments, MSEK 8.4 (27.0) are related to the subsidiary PG&WIP where a new automated production line for interior details has been started up during the first six months of 2018 and a packaging line has been reconstructed.

In April the company communicated the decision to invest in a new production facility for extrusion of aluminium profiles, with the intention to increase capacity by approximately 12,500 tonnes annually at full capacity. In total the investment amounts to approximately MSEK 310 and the facility is assessed to be in operation around the year-end 2019/2020. The project has been started and has affected the investments in the period by about MSEK 30.3 (0.0). The main part of the tangible assets related to the project has been ordered.

The remaining part, MSEK 20.4 (30.3), of the investments mainly refers to ongoing improvements.

Financing and liquidity

Cash flow from current operations during the first nine months amounted to MSEK 75.8 (60.9) and after investments to MSEK 1.9 (2.2).

The liquidity reserve as of 30 September 2018 amounted to MSEK 359.7 (126.7). The increase is explained by loan commitments related to the above mentioned investment in a new production facility.

The balance sheet total as of the end of the period was MSEK 825.2 (725.2). Net debt as of 30 September 2018 amounted to MSEK 124.3 (108) and net debt/EBITDA to 0,8 (0,8). ProfilGruppens' target for net debt/EBITDA is <2,0.

Personnel

The average number of employees in the Group during the first nine months was 457 (428). The number of employees as of 30 September 2018 totalled 468 (454).

Outlooks for 2018/2019

The market situation is assessed to be stable during the coming quarters.

Significant risks and uncertain factors

It has been drawn to our attention that there is a risk for interruption of our raw material supply due to trading sanctions or essential changed in the supply chain (for example at the production of alumina or mining of bauxite). For the time being there is uncertainty about the effects of the US' trading sanctions regarding Russian oligarchs and their business. This has caused problems with raw material supply from some of our suppliers. We have managed to find alternative solutions and currently we do not estimate it to affect our ability to deliver.

To finance the machine investments for our new production facility a loan of about MEUR 13.5 will be taken successively. The loan in Euro means a currency risk that is not common in the company, and can amount to a result effect

The rest of the company's risks and risk management have not significantly changed since publishing of the 2017 Annual Report.

Year-end report and Annual General Meeting

The Year-end report for 2018 will be published February 12 2019 at 14:00 CET.

The AGM 2019 will take place 16 April 2019 at 16:00 CET. All shareholders are then welcome to Folkets Hus in Åseda.

The Nomination Committee for the AGM 2019 consists of Lars Johansson (shareholder), Bengt Stillström (Ringvägen Venture AB), Mats Egeholm (shareholder) and Kåre Wetterberg (Chairman of ProfilGruppen).

Shareholders who wish to submit proposals to the Nomination Committee shall present their proposal by January 11, 2019 at the latest. Proposals to the Nomination Committee can be sent by email to

valberedningen@profilgruppen.se, or by post: ProfilGruppen AB, att: Valberedningen, Box 36, SE-364 21 Åseda, Sweden.

Shareholders who wish to have a case raised at the Annual General Meeting may either send the proposal to the Chairman of ProfilGruppen by email to:

styrelsen@profilgruppen.se, or by post to: ProfilGruppen AB, att: Årsstämmoärenden, Box 36, SE-364 21 Åseda, Sweden. The proposals must be received by the company by January 14, 2019 at the latest in order to ensure inclusion in the notice and the AGM agenda.

Auditor 's review report

ProfilGruppen AB (publ) corporate identity number 556277-8943

Introduction

We have reviewed the condensed interim report for ProfilGruppen AB (publ) as at September 30, 2018 and for the nine months period then ended. The Board of Directors and the 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.

Scope of review

We conducted our review in accordance with the International Standard on Review Engagements, ISRE 2410 Review of Interim Financial Statements 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 on Auditing and other generally accepted auditing standards 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, the conclusion based on this review are not comparable with the same accuracy as 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 in accordance with the Swedish Annual Accounts Act regarding the Parent Company.

Åseda, October 23, 2018 Ernst & Young AB

Franz Lindström Authorized Public Accountant

Gruppen.

Statement of comprehensive income in short

Q 3 $Q$ 1-3 Q 3 $Q1-3$	R 12
MSEK 2018 2017 2018 2017 Note	2018 2017
354.3 314.1 1 2 0 4 .0 Net turnover 1015.6	1571.2 1 3 8 2.8
$\overline{2}$ Cost of goods solds $-273.9$ $-1046.2$ $-875.0$ $-311.8$	$-1365.1$ $-1193.9$
42.5 157.8 140.6 Gross Margin 40.2	206.1 188.9
0.0 0.0 0.1 2.9 Other operating revenues	0.4 3.2
$-35.4$ Selling expenses $-11.8$ $-10.7$ $-39.0$	$-52.6$ $-49.0$
Administrative expenses $-29.1$ $-8.3$ $-8.8$ $-28.9$	$-39.1$ $-38.9$
0.0 $-0.1$ Other operating expenses 0.0 $-0.1$	$-0.3$ $-0.3$
Operating profit/loss 20.7 89.7 79.1 22.4	114.5 103.9
Financial income 0.0 0.1 0.2 0.2	0.3 0.3
Financial expenses $-4.8$ $-1.6$ $-1.3$ $-3.9$	$-5.4$ $-4.5$
Net financial income/expense $-1.2$ $-1.6$ $-4.6$ $-3.7$	$-4.2$ $-5.1$
Income after financial items 20.8 19.5 85.1 75.4	109.4 99.7
$-18.7$ $-4.6$ $-4.3$ $-16.6$ Tax	$-24.5$ $-22.4$
Net income for the period 16.2 15.2 66.4 58.8	77.3 84.9
Other comprehensive income (net after tax)
Items that will subsequently be reclassified to net income:
2.6 Changes in hedging reserve 0.1 $-2.2$ 1.7	$-3.4$ 0.5
Translation differences 0.0 0.0 0.2 0.0	0.2 0.0
Items that will subsequently not be reclassified to net income:
Revaluation of defined benefit obligation 0.1 $-0.9$ $-0.8$ $-0.9$	$-1.5$ $-1.6$
Comprehensive income for the period 14.4 63.6 59.6 18.9	76.2 80.2
Net income for the period attributable to:
Owners of the parent 13.9 54.1 17.0 64.8	83.7 73.0
Non-controlling interests $-0.8$ 1.3 1.6 4.7	1.2 4.3
Total comprehensive income for the period attributable to:
Owners of the parent 13.1 62.0 19.7 54.9	79.0 71.9
Non-controlling interests $-0.8$ 1.3 4.7 1.6	1.2 4.3
Earnings per share (before and after dilution), SEK 2.29 1.87 8.75 7.31	11.30 9.86
Average number of shares, thousands 7399 7399 7399 7399	7399 7399

Statement of financial position in short

	30 Sep	30 Sep	31 Dec
MSEK Note	2018	2017	2017
Assets
Intangible fixed assets	28.3	10.8	14.8
Tangible fixed assets	314.7	298.5	291.5
Financial fixed assets	0.2	0.2	0.2
Total fixed assets	343.2	309.5	306.5
Inventories	185.2	161.2	181.2
Current receivables $\overline{4}$	271.9	236.7	226.5
Liquid assets	24.9	17.8	27.9
Total current assets	482.0	415.7	435.6
Total assets	825.2	725.2	742.1
Shareholders' equity
Total equity attributable to the parent Company's shareholders	341.2	295.5	312.5
Non-controlling interests	11.6	12.5	12.1
Total equity	352.8	308.0	324.6
Liabilities
Interest-bearing liabilities	69.0	58.7	68.0
Interest-free liabilities	31.3	28.2	32.2
Total long-term liabilities	100.3	86.9	100.2
Interest-bearing liabilities and provisions	80.2	67.2	49.7
Interest-free liabilities $\overline{4}$	291.9	263.1	267.6
Total short-term liabilities	372.1	330.3	317.3
Total shareholders' equity and liabilities	825.2	725.2	742.1

Profil
Fruppen.

Statement of changes in equity in short

	Q 3	$Q_3$	$Q1-3$	$Q1-3$
MSEK	2018	2017	2018	2017	2017
Opening balance, total equity	333.9	293.6	324.6	270.6	270.6
Changes attributable to owners of the parent:
Comprehensive income for the period	19.7	13.1	62.0	54.9	71.9
Changes attributable to non-controlling interests:
Comprehensive income for the period	$-0.8$	1.3	1.6	$4.\overline{1}$	4.3
Dividend	0.0	0.0	$-35.4$	$-22.2$	$-22.2$
Closing balance, total equity	352.8	308.0	352.8	308.0	324.6

Statement of cash flows in short

	Q 3	Q 3	$Q1-3$	$Q1-3$	R 12
MSEK	2018	2017	2018	2017	2018	2017
Operating activities
Operating profit/loss	22.4	20.7	89.7	79.1	114.5	103.9
Depreciation and write-down	11.0	7.7	35.8	26.5	46.5	37.2
Adiustment for other non-cash items	$-1.2$	0.0	0.1	$-5.9$	0.2	$-5.8$
Interest received/paid	$-1.7$	$-1.1$	$-5.5$	$-3.4$	$-7.1$	$-5.0$
Paid income tax	$-4.2$	$-1.9$	$-17.5$	$-5.4$	$-18.9$	$-6.8$
Cash flow prior to change in working capital	26.3	25.4	102.6	90.9	135.2	123.5
Inventories	5.1	6.7	$-4.1$	$-14.9$	$-24.1$	$-34.9$
Operating receivables	10.7	4.9	$-45.2$	$-67.2$	$-35.0$	$-57.0$
Operating liabilities	$-25.5$	11.2	22.5	52.1	24.3	53.9
Cash flow from operating activities	16.6	48.2	75.8	60.9	100.4	85.5
Acquisition of property, plant and equipment	$-33.9$	$-41.8$	$-74.0$	$-63.5$	$-80.4$	$-69.9$
Sale of property, plant and equipment	0.0	0.0	0.1	3.8	0.3	4.0
Cash flow from investing activities	$-33.9$	$-41.8$	$-73.9$	$-59.7$	$-80.1$	$-65.9$
Dividend	0.0	0.0	$-35.4$	$-22.2$	$-35.4$	$-22.2$
Loans raised	0.0	15.1	1.5	15.1	13.3	26.9
Change in bank overdraft facility utilized	17.9	$-7.5$	47.5	32.5	33.8	18.8
Repayment of loans	$-6.3$	$-6.6$	$-18.6$	$-20.1$	$-25.7$	$-27.2$
Cash flow from financing activities	11.6	1.0	$-5.0$	5.3	$-14.0$	$-3.7$
Cash flow for the period	$-5.7$	7.4	$-3.1$	6.5	6.3	15.9
Liquid assets, opening balance	30.7	10.8	27.9	11.3	17.9	11.3
Translation differences in liquid assets	$-0.1$	$-0.3$	0.1	0.1	0.7	0.7
Liquid assets, closing balance	24.9	17.9	24.9	17.9	24.9	27.9
Liquidity reserve			359.7	126.7		140.1

The parent company

The turnover of the parent company amounted to MSEK 16.3 (16.6) and comprises of payments for rents from companies in the Group. Profit after financial items amounted to MSEK $16.4(13.1)$ .

Investements in the parent company during the first nine months amounts to MSEK 12.1 (0.0) and are connected to the properties.

All the current receivables are receivables from Group companies.

Income statement in short - the parent company¹⁾

$Q₃$ $Q₃$ $Q$ 1-3 $Q_1-3$ MSEK 2018 2018 2017 Not 2017 2017 Turnover $\overline{5}$ $5.4\,$ $5.5$ $16.3\,$ $16.6\,$ 22.0 Cost of goods sold $-0.7$ $-0.8$ $-3.0$ $-4.6$ $-2.6$ 13.7 13.6 Gross Margin $4.7$ $4.7$ 17.4 $0.0$ $0.0$ $-0.1$ $2.0$ $2.2$ Other operating revenues $-3.5$ Administrative expenses $-0.8$ $-0.9$ $-2.8$ $-2.7$ $\overline{10.9}$ Operating income 12.9 16.1 3.9 3.7 Result from shares in group companies $0.0\,$ $0.0$ 4.9 $0.0\,$ $0.0\,$ Interest income and similar income and expense items $0.3$ $0.2$ $0.7$ $0.4$ $0.5$ $-0.1$ Interest expenses and similar income and expense items $0.0$ $-0.1$ $-0.2$ $-0.3$ Income after financial items $4.2$ $3.8$ 16.4 $13.1$ 16.3 $0₀$ $0₀$ Appropriations $0₀$ $0₀$ $256$ Income before tax $4.2$ $\overline{38}$ 16.4 $13.1$ 41.9 $-0.9$ $-0.9$ $-25$ $-29$ $-9.4$ Tax Net income for the period $3.3$ $2.9$ 13.9 10.2 32.5

¹⁾The parent companys income statement also constitutes its comprehensive incomes statement

Balance sheet in short - the parent company

	30 Sep	30 Sep	31 Dec
MSEK Not	2018	2017	2017
Assets
Tangible assets
Tangible fixed assets	82.9	73.7	73.1
Financial assets (shares in subsidiaries)	87.9	88.0	88.0
Total fixed assets	170.8	161.7	161.1
Current assets
Current receivables	95.9	59.0	97.3
Cash and bank balances	0.4	0.4	0.4
Total current assets	96.3	59.4	97.7
Total assets	267.1	221.1	258.8
Equity and liabilities
Equity	169.2	166.3	188.6
Untaxed reserves	34.6	25.2	34.6
Provisions for taxes	3.9	3.6	3.9
Long-term liabilities	0.0	0.3	0.0
Current liabilities	59.4	25.7	31.7
Total equity and liabilities	267.1	221.1	258.8

The parent company's interest-bearing liabilities amounted to MSEK 48.0 (18.9) as of 30 September 2018.

The change in the parent company's liquidity during the period has been MSEK 0 (0).

The parent company employs none (none). The parent company's risks and uncertain factors do not significantly differ from the Group.

Notes

Note 1 - Accounting Principles

The interim report has been prepared in accordance with IAS 34 Interim Financial Reporting. The parent company accounting has been prepared in accordance with the Swedish Annual Accounts Act (ÅRL) and the Swedish Financial Reporting Standards Council 's RFR 2 Accounting for Legal Entities. The accounting principles applied are identical to the ones used for the latest annual report with exception for the new or revised standards, amendments and interpretations issued by the International Accounting Standards Board (IASB) as approved by the European Commission for application within the EU and shall be applied from 1 January 2018. None of these have had an effect on the income statement, balance sheet or cash flow of the Group. The application of RFR 2 in the parent company, due to the new standards, does not affect the parent company's financial reports. The practice of IFRS 15 Revenue from contracts with customers and IFRS 9 Financial instruments is described below. The accounting principles are described on page 16 in the Annual Report 2017.

IFRS 15 Revenue from Contracts with Customers

Following the analysis, the assessment is that there are no substantive differences between earlier applied accounting policies and the guidance in IFRS 15 regarding the identification of performance obligations in the contracts or allocation of consideration. Like previous policies, product sales will be reported when the transfer of risk according to the contract passes as it is aligned with the criteria of transferring control in IFRS 15.

The introduction of IFRS 15 had no impact on det Group's financial position.

As no changes has been identified, the Group has choosen to apply IFRS 15 in full to prior periods.

IFRS 9 Financial Instruments

IFRS 9 is applied by the Group from January 1, 2018. The Group has not restated comparative figures for 2017, in accordance with the transitional rules of the Standard.

The new rules for classification and valuation has not affected the Group's financial position at the time for implementation, as the new standard does not mean any change in valuation of the financial instruments accounted for in the financial statement at that time.

IFRS 9 introduces a new impairment model based on expected losses, which takes into account forward-looking information. The Group has historically had very small credit losses and the customer base is made up of stable companies. Also from a forward looking perspective, the assessment is that the likelihood of default is low. The conclusion is therefore that no further impairment of accounts receivable is required.

Therefore, IFRS 9 has not affected the Group's financial position as of 1 January 2018.

IFRS 16 Leases

IFRS 16 will be applied by the Group from January 1, 2019. The effect of implementing IFRS 16 will be increased Total assets with higher tangible assets and higher financial debts. It will also result in a positive effect in Operating profit and a negative effect in Financial items. The work to investigate and analyze the effects for the Group is ongoing. The current judgement is that the impact of the new standard on the Comprehensive income and Financial position statement will not be significant.

ruppen.

Note 2 - Depreciation and write-down of fixed assets

	$Q_3$	Q3	$Q_1-3$	$Q1-3$	R 12
MSEK	2018	2017	2018	2017	2018	2017
Intangible fixed assets	0.0	0.0	0.0	0.0	0.0	0.0
Land and buildings	0.8	0.7	2.8	27 Ζ.	3.9	3.8
Machinery and equipment	10.2	7.0	33.0	23.8	42.6	33.4
Total	11.0		35.8	26.5	46.5	37.2
of which write-down	0.0	0.0	0.0	0.0	0.0	0.0

Note 3 - Pledged assets and contingent liabilities

	30 Sep	30 Sep	31 Dec
MSEK	2018	2017	2017
Property mortgages	82.9	84.8	82.9
Floating charges	241.5	241.5	241.5
Shares in subsidiaries	220.7	177.7	153.6
Guarantees for other companies	0.0	0.7	0.0
Guarantee commitments FPG/PRI	0.2		0.2

Note 4 - Financial instruments, valued at fair value in statement of financial position

MSEK	30 Sep 2018	30 Sep 2017	31 Dec 2017
Short-term receivables:
Currency derivatives	0.6	0.3	0.4
Short-term non interest-bearing liabilities;
Interest rate derivatives	1.5	2.4
Currency derivatives	6.2	0.7	2.6
The detection and access that the constant in the collection of the contract of the distribution of the constants of $\alpha$

Both interest rate- and currency derivatives are primarily used for hedge and are valued on level 2 according to IFRS 13.

Note 5 - Related transactions

No significant related transactions that significantly affect the Groups results or financial statement have been made during the period. Apart from the intragroup rental income in the parent company no significant related transactions have been done regarding the parent company either.

、LTOIII
JTUPPEN.

Key ratios

The Group	Q 3 2018	Q 3 2017	$Q1-3$ 2018	$Q_1-3$ 2017	R12 2018	2017
Net turnover, MSEK	354.3	314.1	1 2 0 4 .0	1015.6	1571.2	1382.8
Income before depreciation, MSEK	33.4	28.4	125.5	105.6	161.0	141.1
Operating income/loss, MSEK	22.4	20.7	89.7	79.1	114.5	103.9
Operating margin, %	6.3	6.6	7.5	7.8	7.3	7.5
Income after financial items, MSEK	20.8	19.5	85.1	75.4	109.4	99.7
Profit margin, %	5.9	6.2	7.1	7.4	7.0	7.2
Return on equity, %	18.9	20.2	26.1	27.1	25.7	26.0
Return on capital employed, %	18.4	19.5	25.4	26.3	24.5	25.6
Cash flow from operating activities, MSEK	16.6	48.2	75.8	60.9	100.4	85.5
Investments, MSEK	34.4	41.8	72.6	57.3	80.6	65.3
Liquidity reserve, MSEK		$\sim$	359.7	126.7		140.1
Net debt, MSEK		$\sim$	124.3	108.0	ä,	89.8
Net debt/EBITDA		÷.	0.8	0.8		0.6
Interest-bearing liabilities and interest-bearing provisions, MSEK		×,	149.2	125.9		117.7
Net debt/equity ratio		٠	0.4	0.4	$\overline{\phantom{a}}$	0.3
Total assets, MSEK		$\overline{\phantom{a}}$	825.2	725.2		742.1
Equity ratio, %		٠	42.8	42.5		43.7
Capital turnover		×,	3.4	3.4	3.4	3.4
Proportion of risk-bearing capital, %		$\overline{\phantom{a}}$	46.5	46.4		48.1
Interest coverage ratio	13.7	16.0	18.7	20.2	21.5	23.3
Average number of employees	463	450	457	428	456	442
Net turnover per employee (average), TSEK	765	698	2635	2 3 7 3	3446	3 1 2 9
Income after fin, per employee (average), TSEK	45	43	186	176	240	226
Average number of shares, thousands (no dilution)	7399	7399	7399	7399	7399	7399
Number of shares, end of period, thousands	7399	7399	7399	7399	7399	7399
Earnings per share, SEK	2.29	1.87	8.75	7.31	11.30	9.86
Equity per share, SEK			46.11	39.94		42.24

The key ratios above are a summary of the financial report in order to give an overview of ProfilGruppen's financial position. Definitions and reconciliation of the alternative performance measures are given at www.profilgruppen.se

Rounding differences may occur. When calculating key ratios: return on equity, return on capital employed and capital turnover the result and turnover for the period have been adjusted upward to 12 months. The key ratios presented are for the total Group and based on the Group
consolidated figures including non-controlling interest, except Earnings per share and

Åseda, October 23, 2018

The Board of Directors, ProfilGruppen AB (publ) Org. No. 556277-8943

Brief facts about ProfilGruppen

• The vision is to be the preferred provider of innovative solutions for aluminium extrusions in northern Europe $\bullet$
• A partnership with ProfilGruppen should be uncomplicated and involve personal commitment
• Aluminium extrusions are used within many industries, for example furnishings, construction, automotive and electronics
• The manufacturing of extrusions takes place in Åseda exclusively and includes:
• Extrusion of aluminium profiles in three production lines $\bullet$
  • Anodizing facility for surface treatment
• Further processing of aluminium extrusions in the form of cutting processing, bending and stamping
• Fully automated facility for processing, coating and packaging of interior design details
• A dozen subcontractors broadens the range of processing possibilities
• The company is certified in accordance with IATF 16949, ISO 14001 and ISO 50001
• Started in 1981 in Åseda, Sweden
• Listed on the Stockholm Stock Exchange in 1997 and is included in the Small Cap list

For more information, please contact Per Thorsell, President and CEO Mobile: +46 (0)70-240 78 40 per.thorsell@profilgruppen.se

Ulrika Bergmo Sköld, CFO Mobile: +46 (0)73-230 05 98 ulrika.bergmo.skold@profilgruppen.se

This information is of the type that ProfilGruppen AB (publ) is obligated to disclose in accordance with the Market Abuse Requlation and Nasdaq Stockholm:s requlation for issuers. The information was issued through Per Thorsell for publication on October, 23, 2018, at 14:00 CET.

Current information and photographs for free publication are available at www.profilgruppen.se