Semcon

Quarterly Report • Apr 28, 2016

Interim report January-March 2016

• The operating income was SEK 666 million (677) and the organic growth was 2%
• The operating profit was SEK 23 million (34), giving an operating margin of 3.5% (5.1)
• The profit after tax was SEK 17 million (25)
• Earnings per share after dilution was SEK 0.92 (1.36)
• The equity/assets ratio was 49% (50)

Comment from President and CEO Markus Granlund:

The first quarter was slightly weaker compared with the same period last year, partly due to one fewer working day, representing around SEK 10 million in lower income. The Engineering Services Nordic business area was also affected by a drop in demand from the energy sector, mainly in Norway. The automotive industry however is continuing to develop positively in Sweden, with an increase in requests for project-based deliveries. The Engineering Services Germany business area is undergoing a process of change, which was started last year, with the prerequisite for gradually improving results. Income from the Product Information business area was lower in Q1 compared with the same period last year. The reason for this is mainly due to fewer deliveries to Jaguar Land Rover, which we reported about in Q4 2015. It is therefore very pleasing that we after the end of Q1 have signed new partnership agreements with two automotive manufacturers in Sweden and the UK. The projects will be delivered by our global teams and initially involve 65 employees. Our international presence is something that potential employees are attracted by. This is shown, not least, by Universum's annual survey among 24,000 engineering students in Sweden. Semcon was nominated as the "Rocket of the Year" with an improvement of more than 30 places on the list of attractive employees.

Income and result

The operating income amounted to SEK 666 million (677). Adjusted for currency effects, acquisitions and divestments, income fell by 2%. The quarter had one fewer working day compared with last year, which meant around SEK 10 million in lower income.

The operating profi t was SEK 23 million (34), giving an operating margin of 3.5% (5.1). Both the Engineering Services Nordic and Engineering Services Germany business areas reported a drop in operating profi t compared with last year. One fewer working day negatively affected the Group's operating profi t by around SEK 8 million. The Product Information business area's operating profi t is in line with last year, but profi t was positively affected by recovered write-downs of accounts receivable of SEK 5 million.

Net fi nancial items amounted to SEK -1 million (-1), giving a profi t before tax of SEK 22 million (33). The tax cost amounted to SEK -5 million (-9). The profi t after tax was SEK 17 million (25) and EPS after dilution was SEK 0.92 (1.36).

Financial position

The operating cash fl ow from current activities was SEK -16 million (-52). Cash fl ow is seasonally weak in Q1. Investments in hardware, licenses, offi ce supplies and equipment amounted to SEK 22 million (16). The Group's liquid assets amounted to SEK 44 million (93) with additional non-utilised credit of SEK 271 million (263) as of 31 March. Shareholders' equity amounted to SEK 619 million (687) and the equity/ assets ratio was 49% (50). The Group's net debt amounted to SEK 119 million (76). Excluding pension commitments, net debt amounted to SEK 49 million (9). The debt/equity ratio was 0.2 times (0.1).

Group sales per market Jan-March 2016

Staff

The headcount on 31 March was 2,901 (2,935) and the number of employees in active service was 2,775 (2,822).Downsizing of business activities over the past year, mainly in Engineering Services Germany, have resulted in a fall in the number of employees. In the respective business areas the headcount is as follows: Engineering Services Nordic 1,079 (1,017), Engineering Services Germany 914 (1,012), Engineering Services International 354 (344) och Product Information 554 (562).

Ownership structure

As of 31 March JCE Group owned 25.9 per cent (22.2) of Semcon's shares, Swedbank Robur Fonder 8.4 per cent (8.4), Nordea Investments Funds 6.0 per cent (6.3), Ålandsbanken 5.2 per cent (0.1) and Länsförsäkringar Skåne 4.1 per cent (-). Foreign ownership was 28.1 per cent (27.4) and the number of shareholders was 4,504 (4,374). 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 242,718 (142,718) of the company's share on 31 March. Semcon is listed as a small company on the Nasdaq Stockholm under the SEMC ticker. A list of Semcon's largest holdings, ownership structure and share price movements can be found on page 11.

Incentive scheme

The Annual General Meeting, held on 28 April 2015, decided to establish a long-term performance-based share savings scheme for around 110 senior executives and key personnel in the Semcon Group. This scheme will run for four years starting in July 2015 and covering a maximum of 242,718 shares, corresponding to 1.34% of the total number of outstanding shares.

Acquisitions and divestments

No acquisitions or divestments have taken place during the fi rst quarter.

Risk and instability factors

The Group and parent company's signifi cant risks and instability factors include business risks in the form of high exposure towards a single industry or customer. An economic downturn or disruptions to fi nancial markets can have a negative effect on the Group's services. In general terms acquisitions and divestments incur increased risks. This also includes fi nancial risks mainly concerning interest rate and currency risks. Semcon's Annual Report 2015, pages 47-48 and 61-62, include a detailed description of the Group and parent company's risk exposure and risk management.

Group sales per industry Jan-March 2016

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. A number of new standards and IFRIC statements were introduced on 1 January 2016. None of these have had any affect on the Group's accounts over the period. In general, the same accounting policies and methods of calculation have been used in this report as in the latest Annual report.

Events after the end of the period

Semcon signed two new partnership agreements with China Euro Vehicle Technology AB (CEVT) and The London Taxi Company at the end of April. The CEVT agreement will be for product information for a new model program. The project will at most involve around 40 employees and is expected to run until the end of 2017. Additionally, an agreement for aftermarket information with a clear focus on digital technology has been signed with The London Taxi Company. The agreement will run for fi ve years and initially involve around 25 employees.

No other signifi cant events occured after the end of the period.

Göteborg 28 April 2016 SEMCON AB (PUBL) Co.reg.no. 556539-9549

Markus Granlund President and CEO

This report has not been subject to review by the company's auditors. Semcon discloses the information provided herein pursuant to the Securities Markets Act and/or the Financial Instruments Trading Act. This information was submitted for publication at 12:15 (CET) on 28 April 2016.

Business areas

Engineering Services Nordic

The business area's sales amounted to SEK 279 million (267), and adjusted for acquisitions meant a drop of 2%. Sales to the automotive industry were healthy, while demand from energy customers in particular has been on a lower level. The operating profi t amounted to SEK 7 million (15), giving an operating margin of 2.4% (5.7). One fewer working day compared with last year negatively affected the operating profi t by around SEK 4 million with activities in Norway also negatively affecting operating profi t over the quarter with SEK 3 million (-). The business area has developed its offer to be clearer and more value based. Focus remains sharp on measures to improve growth and profi tability.

	Jan–March		Jan-Dec
Engineering Services Nordic	2016	2015	2015
Operating income, SEK m	278.8		266.6 1,008.7
Operating profi t, SEK m	6.6	15.2	30.5
Operating margin, %	2.4	5.7	3.0
No. of employees at period's end	1,079	1,017	1,098

About business area Engineering Services Nordic

The business area's around 1,100 employees provide services in areas such as product development, plant engineering and production development. The offer is aimed at requirement and concept studies, design, calculations, construction, embedded systems, testing, simulation, quality control, project management, production and process development and expertise in lean production. Business activities mainly focus on industry, design, automotive and life science industries in the Nordic region. Customers include ABB, AB Volvo, Alstom, AstraZeneca, Bombardier, CEVT, Geely, Fortum, General Electric, Getinge, Husqvarna, Metso, Rolls-Royce Marine, Saab, Scania, Siemens, Vattenfall and Volvo Cars.

Share of Semcon's total sale, %

Engineering Services Germany

The business area's sales amounted to SEK 232 million (245), which meant a fall in local currency of 4%. The business area reported lower sales, partly due to last year's redundancies. The operating profi t was SEK 3 million (5), giving an operating margin of 1.1% (1.9). Measures were taken last year to strengthen the customer offer and the new business structure and organisation now in place will ensure the prerequisites for gradually improved results. German automotive customers retain a high demand for development services.

		Jan–March	Jan-Dec
Engineering Services Germany	2016	2015	2015
Operating income, SEK m	232.5	244.6	900.8
Operating profi t/loss, SEK m	2.6	4.7	-48.6
Operating margin, %	1.1	1.9	-5.4
No. of employees at period's end	914	1,012	957

About business area Engineering Services Germany

The business area's around 900 employees provide services to customers primarily in the German automotive industry. The offer includes focusing on concepts, styling, design, calculations, project management, prototyping, testing, simulations and small serial production. Customers include many of the world's leading automotive manufacturers, such as Audi, BMW, Daimler, Opel/GM, Porsche, VW and also customers in other industries such as Sell and Vattenfall.

Engineering Services International

The business area's sales amounted to SEK 50 million (54), which adjusted for currency effects meant an increase of 5%. The operating profit amounted to SEK 1 million (1), giving an operating margin of 1.3% (1.1). The market in Brazil remains very weak, which resulted in the redundancies of 13 employees in Q1 and meant restructuring expenses of SEK 1 million (1) affecting the operating profit.

	Jan-March		Jan-Dec
Engineering Services International	2016	2015	2015
Operating income, SEK m	49.6	53.8	200.8
Operating profit, SEK m	0.6	0.6	6.5
Operating margin, %	1.3	1.1	3.2
No. of employees at period's end	354	344	352

About business area Engineering Services International

The business area's around 350 employees in the UK, Brazil and India provide product- and production development services on respective markets. The offer is aimed at concept, design, calculations, construction, testing and simulation. Customers include a number of leading industrial companies such as AB Volvo, Aston Martin, Autoliv, BMW, General Electric, GKN, Jaguar Land Rover, Mahindra Reva, MAN, Mercedes Benz, Scania, Siemens, Volvo Cars and VW.

Product Information

The business area's sales amounted to SEK 126 million (135), which adjusted for currency effects meant a drop of 4%. Deliveries in Q4 last year from the partnership with Jaguar Land Rover fell, meaning 40 or so fewer people are now involved in deliveries. The operating profit was SEK 13 million (13), giving an operating margin of 10.2% (9.4). The operating profit includes a positive effect from recovered write-downs of accounts receivable of SEK 5 million.

The business area's strategy is focusing on bigger partnership agreements, with two such agreements being signed after the end of the period with CEVT and The London Taxi Company. The CEVT agreement will be for product information for a new model program. The project will at most involve around 40 employees and is expected to run until the end of 2017. Additionally, an agreement for aftermarket information with a clear focus on digital technology has been signed with The London Taxi Company. The agreement will run for five years and initially involve around 25 employees.

		Jan-March
Product Information	2016	2015	Jan-Dec 2015
Operating income, SEK m	126.4	134.7	503.7
Operating profit, SEK m	12.9	12.6	28.4
Operating margin, %	10.2	9.4	5.6
No. of employees at period's end	554	562	529

About business area Product Information

The business area's around 550 employees provide complete information solutions with the primary focus on customers' aftermarket business. The business area's offer supports products throughout the product life cycle: from sales and marketing to installation, diagnostics, maintenance, repairs, training material, as well as training service staff. Product Information has offices in Sweden, the UK, Germany, Hungary, China and Norway. Customers are mainly in the automotive, engineering, telecom and IT, energy and med-tech sectors. These include: ABB, AB Volvo, Baxter, Bombardier, CEVT, ESAB, Jaguar Land Rover, Saab, Siemens, UniCarrier and Volvo Cars.

Consolidated Financial, summary

Income statements

	Jan-March		Jan-Dec
SEK m	2016	2015	2015
Operating income	666.1	677.2	2,557.4
Purchase of goods and services	-145.7	-137.3	-560.6
Other external operating expenses	-61.6	-60.0	-235.9
Staff costs	-430.2	-440.2	-1 730.0
Operating profit before depreciation	28.6	39.7	30.9
Depreciation of tangible fixed assets	-4.4	-4.0	-16.3
Depreciation of intangible assets	-1.2	-1.5	-5.0
Operating profit	23.0	34.2	9.6
Net financial items	-0.9	-0.9	-4.3
Profit before tax	22.1	33.3	5.3
Tax	-5.5	-8.7	-1.8
Profit after tax	16.6	24.6	3.5
Profit attributable to:
Parent company's shareholders	16.6	24.6	3.6
Non-controlling interests	-	-	-0.1
Total profit after tax	16.6	24.6	3.5
Earnings per share before dilution, SEK	0.93	1.37	0.20
Earnings per share after dilution, SEK	0.92	1.36	0.20
Number of working days in period	61	62	249

Statement of comprehensive income

	Jan-March	Jan-Dec
SEK m	2016	2015	2015
Profit after tax	16.6	24.6	3.5
Items that cannot be reclassified as
profit or loss
Actuarial profits or losses	-	-	-3.4
Tax	-	-	1.0
Total	-	-	-2.4
Items that can be reclassified as profit or loss
Translation differencies for the period	0.6	-6.0	-17.9
Hedging of net investments	-3.3	7.2	11.5
Cash flow hedging	0.1	-	0.3
Tax attributable to hedging effects of net investments	0.7	-1.6	-2.6
Total	-1.9	-0.4	-8.7
Other comprehensive income	-1.9	-0.4	-11.1
Total comprehensive income for the period	14.7	24.2	-7.6
Comprehensive income attributable to:
Parent company's shareholders	14.7	24.2	-7.5
Non-controlling interests	-	-	-0.1
	14.7	24.2	-7.6

Quarterly information by business area

			2014			2015			2016
	Q1	Q2	Q3	Q4	2014	Q1	Q2	Q3	Q4	2015	Q1
Operating income (SEK m)
Engineering Services Nordic	275.3	259.2	209.7	269.5	1,013.7	266.6	265.5	206.1	270.4	1,008.7	278.8
Engineering Services Germany	264.6	250.4	242.9	247.8	1,005.7	244.6	215.2	233.3	207.7	900.8	232.5
Engineering Services International	50.5	51.9	53.7	56.5	212.6	53.8	51.4	49.2	46.4	200.8	49.6
Product Information	126.5	127.9	124.2	163.8	542.4	134.7	124.1	128.5	116.4	503.7	126.4
Group items/eliminations	-12.8	-10.9	-18.3	-6.7	-48.7	-22.5	-24.1	-6.3	-3.7	-56.6	-21.2
Total	704.1	678.5	612.2	730.9	2,725.7	677.2	632.2	610.8	637.2	2,557.4	666.1
Operating profit/loss (SEK m)
Engineering Services Nordic	16.2	2.3	5.2	-4.3	19.4	15.2	3.9	2.3	9.1	30.5	6.6
Engineering Services Germany	10.7	-4.8	10.7	3.5	20.1	4.7	-40.2	5.6	-18.7	-48.6	2.6
Engineering Services International	1.1	-1.0	2.4	2.4	4.9	0.6	1.3	2.8	1.8	6.5	0.6
Product Information	13.3	5.4	12.9	20.7	52.3	12.6	6.7	3.0	6.1	28.4	12.9
Group items/eliminations	0.1	0.9	0.4	4.3	5.7	1.1	-0.2	-0.4	-7.7	-7.2	0.3
Total	41.4	2.8	31.6	26.6	102.4	34.2	-28.5	13.3	-9.4	9.6	23.0
Operating margin (%)
Engineering Services Nordic	5.9	0.9	2.5	-1.6	1.9	5.7	1.5	1.1	3.4	3.0	2.4
Engineering Services Germany	4.0	-1.9	4.4	1.4	2.0	1.9	-18.7	2.4	-9.0	-5.4	1.1
Engineering Services International	2.2	-1.9	4.5	4.3	2.3	1.1	2.5	5.7	3.9	3.2	1.3
Product Information	10.5	4.2	10.4	12.6	9.6	9.4	5.4	2.3	5.2	5.6	10.2
Total	5.9	0.4	5.2	3.6	3.8	5.1	-4.5	2.2	-1.5	0.4	3.5
Number of employees
Engineering Services Nordic	1,085	1,058	1,071	1,038	1,038	1,017	996	1,011	1,098	1,098	1,079
Engineering Services Germany	1,088	1,082	1,069	1,044	1,044	1,012	997	980	957	957	914
Engineering Services International	343	357	359	359	359	344	338	345	352	352	354
Product Information	526	535	551	549	549	562	555	528	529	529	554
Total	3,042	3,032	3,050	2,990	2,990	2,935	2,886	2,864	2,936	2,936	2,901
Number of working days	62	58	66	62	248	62	58	66	63	249	61

Balance sheets

		31 March
SEK m	2016	2015	2015
Assets
Intangible assets, goodwill	468.1	451.4	465.9
Other intangible assets	18.3	15.8	18.9
Tangible fixed assets	68.4	53.3	51.0
Financial fixed assets	-	16.8	-
Deferred tax recoverable	59.5	43.5	61.3
Accounts receivable	313.8	349.5	433.1
Accrued non-invoiced income	214.5	265.2	108.2
Other current assets	75.0	79.9	71.7
Cash and bank assets	43.6	93.1	126.1
Total assets	1,261.2	1,368.5	1,336.2
Shareholders equity and liabilities
Shareholders equity	619.3	686.7	604.5
Pensions obligations	69.7	67.3	68.4
Deferred tax liabilities	30.6	31.3	28.9
Interest-bearing short-term liabilities	92.5	102.2	136.1
Accounts payable	54.6	82.1	81.0
Non interest bearing current liabilities	394.5	398.9	417.3
Total shareholders equity and liabilities	1,261.2	1,368.5	1,336.2

Change in shareholders equity

SEK m		31 March
	2016	2015	2015
Shareholders equity at the start of the period	604.5	662.5	662.5
Total comprehensive income	14.7	24.2	-7.6
Acquistion of own shares	-	-	-5.6
Share-based remuneration	0.1	-	0.1
Shareholder dividend	-	-	-44.9
Shareholders equity at the end of the period	619.3	686.7	604.5

Cash flow statements

	Jan-March	Jan–Dec
SEK m	2016	2015	2015
Cash flow from current activities before change
in working capital	25.1	28.1	-0.7
Change in working capital	-41.2	-79.8	28.0
Cash flow from current activities	-16.1	-51.7	27.3
Investments	-22.5	-16.2	-32.8
Acquisitions and divestments of subsidiaries	-	-	2.6
Sales of fixed assets	-	-	0.4
Cash flow from investment activities	-22.5	-16.2	-29.8
Change in interest-bearing liabilities	-45.0	4.8	30.6
Acquisition of own shares	-	-	-5.6
Shareholder dividend	-	-	-44.9
Cash flow from financing activities	-45.0	4.8	-19.9
Cash flow for the period	-83.6	-63.1	-22.4
Cash and bank at the start of the period	126.1	152.3	152.3
Translation difference	1.1	3,9	-3.8
Cash and bank at the end of the period	43.6	93.1	126.1

Key figures		Jan–March
	2016	2015	2015
Growth in sales (%)	-1.6	-3.8	-6.2
Organic growth in sales (%)	-2.5	-6.4	-6.6
Operating margin before depreciation (%)	4.3	5.9	1.2
Operating margin (%)	3.5	5.1	0.4
Profit margin (%)	3.3	4.9	0.2
Return on shareholders equity (%)*	-0.7	10.7	0.5
Return on capital employed (%)*	-0.2	11.6	1.1
Equity/assets ratio (%)	49.1	50.2	45.2
Debt/equity ratio (multiple)	0.2	0.1	0.1
Interest cover ratio (multiple)	-0.3	24.3	2.4
Number of employees at end of the period	2,901	2,935	2,936

Key figures for shares		Jan-March
	2016	2015	Jan-Dec 2015
EPS before dilution (SEK)	0.93	1.37	0.20
EPS after dilution (SEK)	0.92	1.36	0.20
Shareholders equity before dilution (SEK)	34.66	38.21	33.83
Shareholders equity after dilution (SEK)	34.19	37.91	33.37
Share price/shareholders equity per share (times)	1.14	1.62	1.27
Cash flow from current activities (SEK)	-0.89	-2.85	1.51
Share price at the end of the period (SEK)	38.90	61.50	42.40
Market value at the end of the period (SEK)	705	1,114	768
Number of shares at the end of the period (000)	18,113	18,113	18,113
Number of own shares at the end of the period (000)	243	143	243
Average number of shares (000)	18,113	18,113	18,113

* Rolling 12 months

Definitions

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

Cash flow per share

Cash flow from current activities divided by the weighted average number of outstanding shares over the period adjusted for the dilution effect on potential shares.

Debt/equity ratio

Net borrowings divided by shareholders' equity.

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.

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.

Equity/assets ratio

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

Interest cover ratio Profit before tax plus interest costs divided by

Net borrowings

interest costs.

Interest-bearing provisions and liabilities with deductions for liquid assets and interest-bearing receivables.

Operating margin Operating profit as a percentage of net sales.

Profit margin

Profit before tax as a percentage of net sales.

Return on shareholders' equity Profit for the period after tax divided by the average shareholders' equity.

Return on capital employed Profit before tax plus financial costs divided by the average capital employed.

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.

Parent company Financial, summary

Income statements
		Jan-March	Jan–Dec
SEK m	2016	2015	2015
Operating income	6.3	4.1	23.7
Other external operating expenses	-6.5	-5.4	-25.6
Staff costs	-7.1	-6.9	-28.3
Operating profit/loss	-7.3	-8.2	-30.2
Net financial items*	-2.2	9.0	59.3
Profit/loss after net financial items	-9.5	0.8	29.1
Appropriations**	-	-	-10.7
Profit/loss before tax	-9.5	0.8	18.4
Tax	2.7	-0.2	-4.8
Profit/loss after tax	-6.8	0.6	13.6
* of which translation differencies	-2.4	8.6	14.3
of which group contribution received	-	-	42.6
** of which group contribution paid	-	-	-3.6

Statements of comprehensive income

SEK m	Jan-March	Jan–Dec
	2016	2015	2015
Profit/loss for the period	-6.8	0.6	13.6
Other comprehensive income	-	-	-
Total comprehensive income for the period	-6.8	0.6	13.6

Balance sheets
	31 March
SEK m	2016	2015	2015
Assets
Financial fixed assets	456.6	453.9	453.9
Current assets	102.4	189.4	154.8
Total assets	559.0	643.3	608.7
Shareholders equity and liabilities
Shareholders equity	308.7	352.9	315.5
Untaxed reserves	7.1	-	7.1
Interest-bearing current liabilities	92.3	102.2	137.5
Non interest-bearing current liabilities	150.9	188.2	148.6
Total shareholders equity and liabilities	559.0	643.3	608.7

Semcon's 10 largest holdings, 31 March 2016

Name	No. of shares	Votes, %
JCE Group	4 ,682,991	25.9
Swedbank Robur Fonder	1,521,764	8.4
Nordea Investments Funds	1,084 ,440	6.0
Ålandsbanken	950,245	5.2
Länsförsäkringar Skåne	741,500	4.1
CBNY-Norges bank	547,844	3.0
Handelsbanken Fonder	472,288	2.6
Europea i Malmö AB	428,194	2.4
Avanza Pension	360,752	2.0
DnB Carlson Fonder	292,842	1.6
Total	11,082,860	61.2
Own shares	242,718	1.3
Others	6,786,956	37.5
Total	18,112,534	100.0

Ownership structure, 31 March 2016

Total	4 ,504	18,112,534	100.0	704,578
Own shares	1	242,718	1.3	9,442
100,001 -	20	12,655,466	70.0	492,298
10,001-100,000	72	2,408,274	13.3	93,682
1,001-10,000	598	1,765,018	9.7	68,659
501-1,000	640	532,978	2.9	20,733
1-500	3,173	508,080	2.8	19,764
	shareholders	shares	tion, %	SEK (000)
	No. of	No. of	Propor	Market value

Source: Euroclear Sweden AB register of shareholders on 31 March 2016.

Source: Euroclear Sweden AB register of shareholders on 31 March 2016.

Price

Share OMX Stockholm_PI

Source: Nasdaq Stockholm on 31 March 2016.

Semcon's Annual Report 2015 is available on semcon.com

Reporting

Interim report Jan-June: 15 July 2016 Interim report Jan-Sept: 27 October 2016 Year-end report 2016: 9 February 2017

For more information, contact

Markus Granlund, CEO Semcon AB, +46 31-721 03 06 Björn Strömberg, CFO Semcon AB, +46 31-721 03 06 Per Nilsson, Communications Director Semcon AB, +46 73-973 72 00

Head office

Semcon AB 417 80 Göteborg, Sweden Visiting address: Lindholmsallén 2 417 80 Göteborg, Sweden Phone: +46 31-721 00 00 semcon.com

Semcon is an international technology company within engineering services and product information. We have around 3,000 employees with extensive experience from many different industries. We develop technology, products, plant and information solutions along the entire development chain and also provide many services and products in areas such as quality control, training and methodology development. Semcon contribute to our customers' competitive strength by providing innovative solutions, design and solid engineering expertise. The business activities are run via four business areas: Engineering Services Nordic, Engineering Services Germany, Engineering Services International and Product Information. Work processes and solutions are adapted to customer requirements, from taking part in the customer's teams to in-house development projects. The Group had annual sales of SEK 2.6 billion in 2015 with activities at more than 40 sites in Sweden, Germany, the UK, Brazil, China, Hungary, India, Spain and Norway. Some of Semcon's biggest customers include: ABB, AB Volvo, Audi, BMW, CEVT, Jaguar Land Rover, Scania, Volvo Cars and VW. Read more at semcon.com.