YEAR-END REPORT JANUARY - DECEMBER 2016

In the fourth quarter, Byggmax increased net sales by +16%

October 1 - December 31
• Net sales amounted to SEK 974.9 M (839.3), up 16.2 percent. Pro forma net sales totaled SEK 975.4 M for the fourth quarter of 2015 and net sales was unchanged compared with the pro forma figure.

• Net sales for comparable stores decreased 9.1 percent (increased 16.4).

• The gross margin was 29.8 percent (32.4). The Byggmax segment’s gross margin declined due to lower volume bonuses from suppliers compared with the strong selling fourth quarter of 2015. Skånska Byggvaror’s gross margin declined sharply as a result of aggressive pricing, partly due to de-stocking, and mix effects.

• EBITDA amounted to SEK 94.12 M (58.0). Excluding the revaluation of earnouts, EBITDA totaled SEK 30.9 M. Pro forma EBITDA was SEK 68.6 M for the fourth quarter of 2015.

• The EBITDA margin was 9.72 percent (6.9). The pro forma EBITDA margin was 7.0 percent for the fourth quarter of 2015.

• EBIT amounted to SEK 55.22 M (35.5). Pro forma EBIT was SEK 43.5 M for the fourth quarter of 2015.

• The profit after tax was SEK 56.8 M (26.3).

• Earnings per share totaled SEK 0.9 (0.4).

January 1 - December 31
• Net sales amounted to SEK 5,219.3 M (4,131.1), up 26.3 percent. Pro forma net sales totaled SEK 4,898.0 M for 2015, and net sales increased 6.6 percent compared to pro forma.

• Net sales for comparable stores increased 0.8 percent (12.8).

• The gross margin was 30.6 percent (30.6).

• EBITDA amounted to SEK 581.32 M (415.8). Excluding the revaluation of earnouts, EBITDA totaled SEK 469.0 M. Pro forma EBITDA was SEK 475.4 M for 2015.

• The EBITDA margin was 11.12 percent (10.1). ). The pro forma EBITDA margin was 9.7 percent for 2015.

• EBIT amounted to SEK 391.82 M (331.7) Mkr. Pro forma EBIT was SEK 380.1 M for 2015.

• The profit after tax was SEK 284.6 M (259.8).

• Earnings per share totaled SEK 4.7 (4.3).

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