NOBINA INTERIM REPORT 1 MARCH–31 MAY 2015

THE FIRST QUARTER
• Net sales amounted to SEK 1,995 million (1,886), an increase of 5.8%.
• Adjusted operating profit of SEK 106 million before IPO costs, and SEK 14 million (59) after such costs.
• Adjusted profit for the period after tax amounted to SEK 59 million before IPO costs, and SEK –33 million (–23) after such costs.
• Earnings per share amounted to SEK –0.5 SEK (–0.4).
• Cash flow from the operations was SEK 156 million (99).
• Investments, primarily for the purchase of buses, amounted to SEK 47 million (81).

SIGNIFICANT EVENTS DURING THE FIRST QUARTER

• On 25 May, Nobina publicly announced its intention to carry out a listing on Nasdaq Stockholm.

• On 24 May, Nobina’s board of directors decided to replace the existing terms of the incentive scheme, to better reflect the possible IPO.

• Nobina’s board of directors has adopted financial targets with respect to net sales growth, EBT margin, indebtedness and dividend policy. See page 10.

• Nobina’s annual general meeting was held on 27 May at the Company’s offices. At the AGM, the income statements and balance sheets of the Group and the Parent Company for 2014/2015 were adopted. The AGM decided to re-elect the entire board of directors.

• Nobina has retained former Infrastructure minister Catharina Elmsäter-Svärd as an adviser on strategic issues.

SIGNIFICANT EVENTS SINCE THE END OF THE QUARTER

• On 3 June, Nobina published its prospectus for the IPO, with an application period of 4–16 June for the general public in Sweden and 4–17 June for institutional investors. The scheduled first day of trading is 18 June 2015.

CEO’S COMMENTS

“Nobina’s first quarter has been characterised by intensive work on important traffic starts as well as on the impending IPO of the Company. It is positive that we are also able to present a strong trend for all of Nobina’s business segments. Especially Nobina Sweden has developed strongly, while the reported results of the remaining segments include expenses due to preparation and start-up costs for new contracts.

After last year’s major contract gains, focus has been placed on impending traffic starts. Three large contracts in particular, in the areas of Södertörn (southern Stockholm), Follo (Norway) and Helsinki (Finland), require careful planning. It is, therefore, pleasing to announce that all of the planning projects are proceeding according to plan.

During the period, the Company’s plans for an IPO on Nasdaq Stockholm were announced. We are taking this step for several reasons. Greater transparency will result in an improved credit rating, which in turn will lead to improved terms for financing our buses. The increased transparency will also increase understanding of the Nordic public transport market. I look forward to welcoming a broader Nordic owner base, which will also broaden the Company’s shareholder group.

In addition, I note that results for the quarter were affected both positively and negatively by various items. Higher than normal revenues from concluded negotiations constitute a positive factor, as does the fact that we received bonuses for good environmental performance in one of our Finnish contracts. Non-recurring costs incurred in connection with the IPO have a negative impact on earnings for the quarter.”

Ragnar Norbäck,

President and CEO

For further information please contact:

Ragnar Norbäck,
President and CEO+46 8-410 65 000

Per Skärgård,
CFO+46 8-410 65 056

Ingrid Håkanson,
IR Manager +46 8-410 65 051

Nobina is the Nordic Region’s largest player within the area of public transport by bus. The operations include contractual regional traffic in Sweden, Norway, Finland and Denmark and interregional traffic through the subsidiary Swebus. The Nobina Group has revenues in excess of SEK 7 billion, operates 3,500 buses and with more than 260 million passenger journeys per year, is one of Northern Europe’s ten largest passenger transport companies. More information can be found on www.nobina.com.

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