Semcon

Earnings Release • Apr 29, 2021

Interim report January-March 2021

HISTORICALLY HIGH OPERATING MARGIN.

First quarter

• Net sales of SEK 418 million (491) and the organic growth was -12%
• Operating profit amounted to SEK 46 million (50), yielding an operating margin of 11.0% (10.2)

Semcon Interim report January-March 2021

• Profit after tax amounted to SEK 34 million (38)
• Earnings per share (EPS) after dilution amounted to SEK 1.96 (2.14)

Comment from CEO Markus Granlund

Historically high operating margin

The trend from the second half of 2020 has continued. Demand for sustainable technology is steadily increasing and we end another quarter with high profitability and strong cash flow. The Group's operating margin was at a historically high level, 11.0 per cent compared with 10.2 per cent for the year-earlier period.

Strong growth in prioritised areas

The effect of the strategic shift in the offering, industry diversification and business model can be seen in the quarter, for example in our further growth in prioritised areas, such as life science and the digital services. I can still see that the changes made, together with strong macro trends such as greater focus on sustainability and need for digital transformation, offer us a good position for growth.

As expected, sales growth was affected by restructuring during the second quarter and the divestment of operations in India during the fourth quarter of 2020. At the same time, the period included one fewer working day compared with the year-earlier quarter.

Costs fell slightly as we travelled less and spent more time working remotely. We will keep the best things we have learned in terms of flexibility and new working methods, and retain a lower cost level as we move forward. Our latest employee survey shows that employee satisfaction has increased to historically high levels, both for the Group and each business area, which means that our attractiveness as an employer continues to be strengthened.

Measures that strengthened margins

The Engineering & Digital Services business area continued to improve its operating margin during the quarter. This demonstrates that our transfer of know-how and the measures undertaken to improve margins in 2020 had the desired effect. Growth in life science is at a high level, particularly in the Swedish market, and

was 32 per cent for the first quarter. Engineering & Digital Services currently has a substantial recruitment need because of favourable growth opportunities, not least in digital services where we have continued to develop our offering. In Norway, Yeti Move, in which Semcon is a co-owner and development partner, recently secured a contract with the Norwegian airport operator Avinor for autonomous snowploughs at airports. This will create new opportunities for the company and Semcon in the future.

Increased demand for aftermarket solutions

Focus in the Product Information business area is on growth as demand for digital aftermarket solutions is steadily increasing. Digital training solutions and sustainable streamlining of service and maintenance were positively affected by new patterns of behaviour linked to the pandemic, a trend we expect will continue. The business area's operating margin was 16.6 per cent in the first quarter and a total of 790 colleagues now work within Product Information. This is more people than ever before and Semcon has become one of the world's largest suppliers of digital product information. The proportion of functional sourcing and longterm projects now exceeds 75 per cent of the business area's sales and recurring license contracts are increasing.

Continued positive trend

We expect the trend to remain positive during the second quarter, which in the preceding year was marked by restructuring. Following the measures taken and with the positive market outlook, I can see that we are moving in the right direction relative to our new financial objectives.

Göteborg, 29 April 2021 Markus Granlund, President and CEO

Net sales and result

Net sales amounted to SEK 418 million (491) and organic growth was -12 per cent. Sales were lower due to the restructuring conducted in 2020. The main decline in sales was to automotive and industrial customers, while sales to life science customers and the public sector demonstrated continued positive growth. The quarter included one fewer working day compared with last year.

Operating profit amounted to SEK 46 million (50), yielding an operating margin of 11.0 per cent (10.2). Both business areas reported improved margins as a result of a changed industrial mix, high productivity and lower costs. Net financial items amounted to SEK -1 million (-1), yielding profit before tax of SEK 45 million (49). Tax expense for the quarter amounted to SEK -10 million (-11). Profit after tax amounted to SEK 34 million (38) and earnings per share after dilution totalled SEK 1.96 (2.14).

Financial position

Cash flow from current activities was SEK 69 million (63). Investments in hardware, licenses, office supplies and equipment amounted to SEK 2 million (2). The Group's cash and cash equivalents amounted to SEK 259 million (65). In addition, the Group had non-utilised credit of SEK 250 million (251) as of 31 March. Shareholders' equity amounted to SEK 737 million (651) and the equity/assets ratio was 60 per cent (55). The Group's net cash, excluding lease liabilities, amounted to SEK 259 million (65).

Parent company

Net sales for the Parent Company amounted to SEK 9 million (11) and relate to payment for intra-Group services. Loss before tax amounted to SEK -2 million (-1).

Important events during the period

• Semcon and Biometria, a key stakeholder in Swedish forestry, have embarked upon a new partnership to make digital training courses in the forest industry more effective. Semcon's contribution to the project includes a new learning platform and cutting-edge expertise in the fields of system integration and pedagogy.

• Semcon's CEO Markus Granlund has assumed responsibility for the Engineering & Digital Services (EDS) business area, while former Business Area President Daniel Rundgren is focusing on growth and acquisitions in EDS. Markus will continue in his role as President and CEO of Semcon.

• Semcon is developing new training solutions for the public transport operator Stagecoach in the UK. This is in line with Semcon's aim to grow its business within product information solutions for the rail industry.

• The Board has resolved on new financial objectives for Semcon. Read more on page 5.

• Semcon is a partner in a new research project funded by Vinnova that aims to devise analysis methods and processes for continuous development of safe connected and automated vehicles.

• Semcon is a partner to Eezer Initiativet, which develops unique motorcycle ambulances to reduce maternal mortality in East and Central Africa. Semcon's contribution to the project is part of the Group's CSR programme.

Rolling 12 months, per quarter

Semcon Interim report January-March 2021 3

Employees

The number of employees on Mar. 31 was 1,898 (2,267) and the number of employees in active service was 1,827 (2,184). In the respective business areas the head count is as follows: Engineering & Digital Services 1,108 (1,489) and Product Information 790 (778). The reduction in Engineering & Digital Services compared to last year was primarily attributable to the restructuring that took place in the second quarter and the divestment of the Indian operations in the fourth quarter 2020.

Accounting principles

Semcon follows the IFRS standards adopted by the EU and its interpretations of these (IFRIC). This interim report has been drawn up in accordance with IAS 34. The new standards that came into force as of 1 January 2021 have had no material effect on the Group's accounts during the year. In general, the same accounting policies and methods of calculation have been used in this interim report as in the latest Annual Report.

Risks and uncertainties

The Group and parent company's significant risks and uncertainties include business risks in the form of high exposure towards a single industry or customer. An economic downturn or disruptions to financial markets can have a negative effect on the Group's services. In general terms acquisitions and divestments incur increased risks. This also includes

financial risks mainly concerning currency risks. Semcon's Annual Report 2020, pages 46-47 and 65-67, include a detailed description of the Group and parent company's risk exposure and risk management. The global outbreak of COVID-19 has resulted in greater uncertainty in terms of the above risks and uncertainties.

Ownership structure

As of March 31, JCE Group owned 25.9% (25.9) of Semcon's shares, Nordea Investment Funds 11.7% (10.3), Northern Trust Company RE 7.7 (3.4), BNY Mellon 4.2% (5.0) and Avanza Pension 3.2% (3.5). Foreign ownership was 43.8% (41.4) and the number of shareholders was 4,930 (5,145) The number of ordinary shares at the end of the period was 18,112,534 (18,112,534), all with the quotient value of SEK 1 and equal voting rights. Semcon owned 698,772 (754,416) of the company's shares on March 31. The change in holding is attributable to the allocation of shares within the framework of the Performance-based share savings scheme 2017. For more information about this scheme, see note 9 in Semcon's 2020 Annual Report. Semcon is listed on Nasdaq Stockholm, small cap under the SEMC ticker. For more information about Semcon's ownership structure and share price development visit www.semcon.com.

Events after the end of the period

No significant events occurred after the end of the period.

Total sales growth
	Jan-Mar	Jan-Dec
	2021	2020
Acquisition and divestment	0.4	2.2
Currency effects	-2.8	-1.9
Organic growth	-12.4	-12.7
Total	-14.8	-12.4

	No. of working days in Sweden
	2019	2020	2021	2022
Q1	63	63	62	63
Q2	58	58	59	59
Q3	66	66	66	66
Q4	62	63	64	64
Total	249	250	251	252

The change in one working day represents around SEK 7 million in net sales and impacts operating profit by about SEK 6 million.

Key figures

		Jan-Mar
	2021	2020	2020
Total sales growth (%)	-14.8	1.7	-12.4
Organic sales growth (%)	-12.4	1.3	-12.7
EBITDA margin (%)	13.8	12.9	11.2
EBITA margin (%)	11.2	10.4	8.2
Operating margin (%)	11.0	10.2	8.0
Profit margin (%)	10.7	9.9	7.7
Return on shareholders' equity (%)	14.2	18.4	15.2
Return on operating capital (%)	20.1	21.6	20.0
Return on capital employed (%)	15.8	19.9	16.7
Equity/assets ratio (%)	59.9	55.0	59.9
Number of employees at the end of the period	1,898	2,267	1,821

	Jan-Mar		Jan-Dec
Key figures for the Semcon share	2021	2020	2020
Earnings per share before dilution (SEK)	1.98	2.17	5.75
Earnings per share after dilution (SEK)	1.96	2.14	5.70
Shareholders' equity per share before dilution (SEK)	42.33	37.50	40.15
Shareholders' equity per share after dilution (SEK)	40.70	35.94	38.53
Share price/Shareholders' equity per share (times)	2.45	1.29	2.05
Cash flow per share (SEK)	3.80	3.47	13.69
Share price at the end of the period (SEK)	99.90	46.25	79.00
Market cap at the end of the period (mSEK)	1,809	863	1,431
Number of shares at the end of the period with
the quotient value of SEK 1 (000)	18,113	18,113	18,113
Number of own shares at the end of the period (000)	699	754	731
Average number of shares (000)	18,113	18,113	18,113

Financial objectives

• Net sales growth including acquisitions of at least 10 per cent/year.
• EBITA margin of at least 10 per cent.

The Board also adopted a new dividend policy and guideline for the net debt/EBITDA ratio.

• Approximately half of profit after tax over time is to be distributed to shareholders.

• Based on the premise of a strong balance sheet and financial flexibility, the net debt/EBITDA ratio should not exceed approximately 1.5x.

BUSINESS AREAS

Engineering & Digital Services

• Greater industry diversification, strong growth in life science
• Reduction in sales as expected following restructuring in the spring of 2020
• Positive margin trend continues

Financial development

	Jan-Mar		Jan-Dec
	2021	2020	2020
Net sales, mSEK	260.2	337.3	1,051.7
Total sales growth, %	-22.9	-3.3	-20.4
Organic growth, %	-18.3	-2.1	-18.5
Operating result, mSEK	26.0	31.0	55.9
Operating margin, %	10.0	9.2	5.3
No. of employees	1,108	1,489	1,039

The business area's net sales amounted to SEK 260 million (337) and organic growth was -18 per cent. Sales were lower due to the restructuring conducted in 2020. The main decline in sales was to automotive and industrial customers, while sales to life science customers demonstrated continued very positive growth.

Share of Semcon's total net sales Jan-Mar 2021

Operating profit amounted to SEK 26 million (31), yielding an operating margin of 10.0 per cent (9.2). A changed industrial mix and lower costs contributed to the margin improvement. Work is continuing with full focus on industry diversification and growth in prioritised areas.

About Engineering & Digital Services

The business area's more than 1,100 employees combine digital excellence with advanced engineering skills to develop products, services and production processes. We take responsibility for the whole product development cycle and create user experiences that make a difference – for people and our planet. Our main offerings are: Digital Services, Product Development, Production Development, Strategic Design & Innovation, Project Management, Quality and Validation.

Engineering & Digital Services has offices in Sweden, Norway, the UK and Brazil. Operations mainly focus on the automotive/mobility, industry, energy, and life science sectors. Customers include ABB, AB Volvo, Alstom, AstraZeneca, Autoliv, CEVT, Fortum, Geely, Getinge, Husqvarna, MAN, Metso, Powercell, Rolls-Royce Marine, Saab, Scania, Siemens, Swedish Transport Administration (Trafikverket), Vattenfall and Volvo Cars.

Product Information

• Operating margin at historically high level
• Number of employees continues to rise, driven by increased demand

• A large and growing share of sales comprises functional sourcing and long-term projects

Financial development
-----------------------	--

	Jan-Mar		Jan-Dec
	2021	2020	2020
Net sales, mSEK	159.5	155.2	578.5
Total sales growth, %	2.7	15.4	8.0
Organic growth, %	0.6	10.8	1.6
Operating result, mSEK	26.4	24.6	88.8
Operating margin, %	16.6	15.9	15.4
No. of employees	790	778	782

The business area's net sales amounted to SEK 159 million (155) and sales growth was 3 per cent, of which organic growth 1 per cent. Growth was favourable in Sweden, among other countries, while sales in the UK declined. A few major projects of a one-off nature contributed to high sales in the preceding year, but future growth prospects in the UK are positive. Operating profit amounted to SEK 26 million (25), yielding an operating margin of 16.6 per cent (15.9). Continued high productivity and

lower costs contributed to the improvement in profit and margin.

Part of the business area's strategy is focused on a high proportion of functional sourcing and a high level of resource efficiency through deliveries involving networking teams from several countries

About Product Information

The business area's approximately 800 employees provide complete product information solutions, with the primary focus on customers' aftermarket business. The business area's offerings supports the use and management of products and systems throughout the product life cycle: from sales and marketing to installation, maintenance, diagnostics, repairs, as well as training service staff.

Product Information has offices in Sweden, the UK, Hungary, Germany and China. Operations mainly focus on the engineering, automotive/mobility, telecom & IT, energy and medtech sectors. Customers include ABB, AGCO, Alstom, Baxter, Lynk & Co, ESAB, Jaguar Land Rover, Saab, Siemens, London Electric Vehicle Company, Logisnext and Volvo Cars.

Group CONDENSED FINANCIAL STATEMENTS

Income statement

			Jan-Mar	Jan-Dec
mSEK	Note	2021	2020	2020
Net sales	1	418.4	491.3	1,627.0
Purchase of goods and services		-62.3	-86.6	-265.1
Other external operating expenses		-20.6	-25.3	-93.2
Staff costs		-277.6	-316.2	-1,087.2
Operating profit before depreciation/amortisation		57.9	63.2	181.5
Amortisation of intangible assets		-0.8	-0.8	-3.3
Depreciation of tangible fixed assets		-2.2	-2.3	-9.1
Depreciation of right-of-use assets		-9.0	-9.9	-39.1
Operating profit		45.9	50.2	130.0
Net financial items		-1.2	-1.4	-5.2
Profit before tax		44.7	48.8	124.8
Tax		-10.3	-11.2	-25.0
Profit after tax		34.4	37.6	99.8
Profit attributable to:
Parent company's shareholders		34.4	37.6	99.8
Earnings per share before dilution (SEK)		1.98	2.17	5.75
Earnings per share after dilution (SEK)		1.96	2.14	5.70
No. of working days in period		62	63	250

Statement of comprehensive income

	Jan-Mar		Jan-Dec
mSEK	2021	2020	2020
Profit after tax	34.4	37.6	99.8
Items that can be reclassified as profit or loss
Translation differences for the period	5.1	-7.1	-23.2
Total	5.1	-7.1	-23.2
Total other comprehensive income	39.5	30.5	76.6
Total comprehensive income for the period	39.5	30.5	76.6

Balance sheet

		Mar 31	Dec 31
mSEK	2021	2020	2020
Assets
Intangible assets, goodwill	368.5	371.5	367.3
Other intangible assets	7.3	9.4	8.0
Tangible fixed assets	23.7	29.6	23.6
Right-of-use assets	107.3	138.8	115.5
Financial assets	7.9	3.5	10.2
Accounts receivable	249.0	334.7	273.9
Accrued non-invoiced income	168.6	194.7	124.1
Other current assets	40.1	35.8	42.4
Cash and cash equivalents	259.1	65.1	199.1
Total assets	1,231.5	1,183.1	1,164.1
Shareholders' equity and liabilities
Shareholders' equity	737.2	650.9	697.8
Non-current lease liabilities	75.7	101.2	82.8
Deferred tax liabilities	60.5	57.2	51.0
Accounts payable	44.0	57.5	49.0
Current lease liabilities	31.3	35.1	31.8
Non-accrued invoiced income	16.1	24.1	24.2
Other non interest-bearing current liabilities	266.7	257.1	227.5
Total shareholders' equity and liabilities	1,231.5	1,183.1	1,164.1

Change in shareholders' equity

	Mar 31		Dec 31
mSEK	2021	2020	2020
Shareholders' equity at the start of the period	697.8	620.1	620.1
Total comprehensive income	39.5	30.5	76.6
Share-based remuneration	-0.1	0.3	1.1
Shareholders' equity at the end of the period	737.2	650.9	697.8

Capital employed

		Mar 31	Dec 31
mSEK	2021	2020	2020
Total assets	1,231.5	1,183.1	1,164.1
Deferred tax liabilities	-60.5	-57.2	-51.0
Accounts payable	-44.0	-57.5	-49.0
Other non interest-bearing liabilities	-282.8	-281.2	-251.7
Total capital employed	844.2	787.2	812.4
Average capital employed	798.9	743.2	783.3

Cash flow statement

	Jan-Mar		Jan-Dec
mSEK	2021	2020	2020
Cash flow from current activities
before change in working capital	48.8	40.4	146.0
Change in working capital	20.1	22.5	101.9
Cash flow from current activities	68.9	62.9	247.9
Investments	-1.7	-2.3	-6.8
Acquisition of subsidiaries	-	-42.0	-48.1
Investment in associated companies	-	-	-11.3
Divestment of subsidiaries	-	-	3.1
Divestment of fixed assets	-	-	0.2
Cash flow from investment activities	-1.7	-44.3	-62.9
Repayment of lease liabilities	-8.4	-9.2	-37.3
Cash flow from financing activities	-8.4	-9.2	-37.3
Cash flow for the period	58.8	9.4	147.7
Cash and cash equivalents at the start of the period	199.1	63.0	63.0
Translation differences	1.2	-7.3	-11.6
Cash and cash equivalents at the end of the period	259.1	65.1	199.1

Change in net cash

		Jan-Mar	Jan-Dec
mSEK	2021	2020	2020
Opening balance	199.1	63.0	63.0
Cash flow from current activities	68.9	62.9	247.9
Net investments	-1.7	-2.3	-6.6
Acquisition of subsidiaries	-	-42.0	-48.1
Investment in associated companies	-	-	-11.3
Divestment of subsidiaries	-	-	3.1
Repayment of lease liabilities	-8.4	-9.2	-37.3
Translation differences	1.2	-7.3	-11.6
Closing balance	259.1	65.1	199.1

Quarterly information by Business Area

	2019				2020				2021
	Q1	Q2	Q3	Q4	2019	Q1	Q2	Q3	Q4	2020	Q1
Revenue (mSEK) Engineering & Digital
Services	348.8	340.1	287.4		350.2 1,326.5	337.3	256.7	207.1	250.6	1,051.7	260.2
Product Information	134.5	136.0	124.1	141.2	535.8	155.2	144.8	127.2	151.3	578.5	159.5
Group items/
eliminations	-0.1	-0.1	-1.3	-2.6	-4.1	-1.2	-1.1	0.2	-1.1	-3.2	-1.3
Total	483.2	476.0	410.2		488.8 1,858.2	491.3	400.4	334.5	400.8	1,627.0	418.4
Operating profit (mSEK) Engineering & Digital
Services	34.1	12.5	22.6	38.1	107.3	31.0	-15.7	10.0	30.6	55.9	26.0
Product Information	13.0	9.1	13.4	14.9	50.4	24.6	22.2	19.5	22.5	88.8	26.4
Group items/
eliminations	-3.2	-4.5	-4.2	-4.0	-15.9	-5.4	-3.7	-1.1	-4.5	-14.7	-6.5
Total	43.9	17.1	31.8	49.0	141.8	50.2	2.8	28.4	48.6	130.0	45.9
Operating margin (%) Engineering & Digital
Services	9.8	3.7	7.9	10.9	8.1	9.2	-6.1	4.8	12.2	5.3	10.0
Product Information	9.7	6.7	10.8	10.6	9.4	15.9	15.3	15.3	14.9	15.4	16.6
Total	9.1	3.6	7.8	10.0	7.6	10.2	0.7	8.5	12.1	8.0	11.0
Number of employees
Engineering & Digital
Services	1,421	1,440	1,498	1,528	1,528	1,489	1,296	1,253	1,039	1,039	1,108
Product Information	722	728	737	734	734	778	764	763	782	782	790
Total	2,143	2,168	2,235	2,262	2,262	2,267	2,060	2,016	1,821	1,821	1,898
Number of working days	63	58	66	62	249	63	58	66	63	250	62

Definitions

Return on shareholders' equity

Profit for the period after tax (RTM) divided by the average shareholders' equity.

Return on operating capital

Operating profit (RTM) divided by the average operating capital.

Return on capital employed

Profit before tax plus financial costs (RTM) divided by the average capital employed.

EBITA margin

Operating profit before amortisation as a percentage of net sales.

EBITDA margin

Operating profit before amortisation/depreciation as a percentage of net sales.

Shareholders' equity per share before dilution

Shareholders' equity divided by the number of shares at end of the period excluding shares held as own shares by the parent company.

Shareholders' equity per share after dilution

Shareholders' equity divided by the number of shares at end of the period adjusted for the dilution effect on potential shares.

Cash flow per share

Cash flow from current activities divided

by the weighted average number of outstanding shares adjusted for the dilution effect on potential shares.

Net cash/net debt

Cash and cash equivalents and interestbearing receivables with deductions for interest-bearing provisions and liabilities, excluding lease liabilities.

Sales growth (total)

Change in sales during the period expressed as a percentage of sales during the year-earlier period.

Operating capital

Capital employed minus cash and cash equivalents.

Organic growth

Year-on-year increase in net sales adjusted for currency effects, acquisitions and divestments.

Earnings per share (EPS) before dilution

Profit/loss after tax attributable to the parent company's owners divided by the average number of outstanding ordinary shares excluding shares held as own shares by the parent company.

Earnings per share (EPS) after dilution

Profit/loss after tax attributable to the parent company's owners divided by the average number of outstanding shares adjusted for the dilution effect of potential shares.

RTM

Rolling twelve months.

Operating margin (EBIT) Operating result as a percentage of net sales.

Operating result before amortisation (EBITA)

Operating result plus amortisation of intangible assets.

Operating result before amortisation/ depreciation (EBITDA)

Operating result plus amortisation/ depreciation of intangible assets, tangible assets and right-of-use assets.

Net debt/EBITDA ratio

Net debt divided by EBITDA (RTM). Excluding impact of IFRS 16, meaning net debt excluding lease liability and EBITDA adjusted so the total lease cost is charged to EBITDA.

Equity/assets ratio

Shareholders' equity as a percentage of the balance sheet total.

Capital employed

The balance sheet total minus non interest-bearing provisions and liabilities.

Profit margin

Profit before tax as a percentage of net sales.

Parent company CONDENSED FINANCIAL STATEMENTS

Income statement

	Jan-Mar		Jan-Dec
mSEK	2021	2020	2020
Net sales	8.9	10.5	37.4
Other external operating expenses	-2.6	-2.8	-10.8
Staff costs	-8.7	-9.5	-32.1
Operating loss	-2.4	-1.8	-5.5
Net financial items*	-0.1	0.5	41.7
Profit/loss after net financial items	-2.5	-1.3	36.2
Appropriations**	-	-	-0.2
Profit/loss before tax	-2.5	-1.3	36.0
Tax	0.6	0.3	0.5
Profit/loss for the period	-1.9	-1.0	36.5
* of which translation differences	0.2	0.1	-1.5
of which dividend	-	-	42.0
** of which group contribution paid	-	-	-0.2

Statement of comprehensive income

	Jan-Mar		Jan-Dec
mSEK	2021	2020	2020
Profit/loss for the period	-1.9	-1.0	36.5
Other comprehensive income	-	-	-
Total comprehensive income for the period	-1.9	-1.0	36.5

Balance sheet

	31 Mar		31 Dec
mSEK	2021	2020	2020
Assets
Financial fixed assets	227.1	234.4	235.5
Current assets	145.0	206.9	157.2
Cash and cash equivalents	215.3	23.2	153.4
Total assets	587.4	464.5	546.1
Shareholders' equity and liabilities
Shareholders' equity	385.2	349.6	387.1
Untaxed reserves	56.6	56.6	56.6
Non interest-bearing current liabilitities	145.6	58.3	102.4
Total shareholders' equity and liabilities	587.4	464.5	546.1

Note 1 DISTRIBUTION OF NET SALES

mSEK	Engineering & Digital Services		Product Information		Group
Jan-Mar	2021	2020	2021	2020	2021	2020
Distribution per country
Sweden	198.5	257.1	100.8	88.9	299.3	346.0
Norway	37.9	30.0	0.4	-	38.3	30.0
UK	4.1	14.2	17.6	24.7	21.7	38.9
Brazil	18.6	28.2	-	-	18.6	28.2
Germany	0.8	0.5	15.7	16.3	16.5	16.8
Other	0.3	7.3	25.0	25.3	25.3	32.6
Eliminations	-	-	-	-	-1.3	-1.2
Total	260.2	337.3	159.5	155.2	418.4	491.3
Distribution per industry
Industry	77.3	104.6	56.7	54.0	134.0	158.6
Automotive/mobility	89.0	144.9	42.8	51.4	131.8	196.3
Life Science	51.3	39.0	4.8	3.6	56.1	42.6
Telecom & IT	1.8	3.7	36.9	34.3	38.7	38.0
Energy	27.3	29.7	3.7	4.4	31.0	34.1
Public sector & other	13.5	15.4	14.6	7.5	28.1	22.9
Eliminations	-	-	-	-	-1.3	-1.2
Total	260.2	337.3	159.5	155.2	418.4	491.3

SEMCON'S MISSION

To turn technology into excellent user experiences.

FINANCIAL CALENDAR

Interim report January-June 2021 Interim report January-September 2021 Year-end report 2021

16 July 2021, at 08.00 19 October 2021, at 08.00 9 February 2022, at 08.00

Telephone conference and audio cast

Today, 29 April 10:00 a.m. CET, investors, analysts and media are invited to a conference call on the interim report January-March 2021. President and CEO Markus Granlund and CFO Björn Strömberg will present the report and host a Q&A session.

For more information about the presentation or to access the on demand version, please visit www.semcon.com/investor-relations.

CONTACT INFORMATION

Contact persons

Markus Granlund, President and CEO Semcon AB, +46 31-721 03 06 Björn Strömberg, CFO Semcon AB, +46 31-721 03 06 Contact information Semcon AB (publ) 417 80 Göteborg, Sweden Visiting address: Lindholmsallén 2 417 80 Göteborg, Sweden Phone: +46 31-721 00 00 www.semcon.com

Göteborg 29 April, 2021 Semcon AB (publ) Co.reg.no 556539-9549 Markus Granlund, President and CEO

This report has not been subject to a review by the company's auditors.

This is a translation of the Swedish original of the Interim report January-March 2021. In the event of inconsistency or discrepancy, the Swedish version shall prevail.

This information is such information as Semcon AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08.00 a.m. CEST on 29 April 2021.

Semcon is an international technology company. We turn technology into excellent user experiences by combining digital edge and engineering expertise. With diverse multi-disciplinary teams we add new perspectives creating sustainable and competitive businesses. Regardless if you aim to recharge a current product or service, reinvent new technology or reimagine future needs, our focus is always on human needs and behaviour in order to develop solutions with the clearest benefits to people and our planet. By combining our 40 years of advanced engineering, strategic innovation, digital services and product information solutions, we drive transformation in a wide range of industries with more than 1,800 dedicated employees based in seven different countries. Read more on semcon.com.