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Gunnebo Interim Report January-March 2015

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The Gunnebo Security Group has published its interim report for the first quarter of 2015.

"Order intake during the first quarter increased organically by 5%. Region Americas is once again enjoying strong growth with a 38% organic increase in order intake, as well as very positive development in Mexico after the acquisition last autumn. Order intake in Region EMEA increased organically by 4%. The markets in Europe have stabilised and growth countries in the region, primarily the Middle East, are showing continued strong demand. The order intake in Region Asia-Pacific decreased organically by 17% during the quarter. The Indian bank market, which is important to Gunnebo, is still weak due to undercapitalisation in the state-owned banks and difficulties in funding continued expansion.

"Sales during the quarter decreased organically by 3% as a result of a weak order intake during the fourth quarter of 2014. Sales in Regions EMEA and Asia-Pacific decreased by 3% and 12% respectively, while Region Americas reported organic growth of 9%. The weak quarter in India has had a negative impact on operating profit.

"Demand for access solutions is currently increasing and during the quarter Gunnebo signed a strategically important agreement for Swedavia’s airports in Sweden. The market for cash handling is also showing good growth and Gunnebo has, for example, signed a major general agreement in France, closed yet another important deal in Region Americas and received its first cash handling order in Malaysia.

"Efforts to adapt the Group’s costs in Europe have continued and have contributed to Region EMEA’s improvement in margin during the quarter. It is particularly pleasing to see that the restructuring work which has been carried out and which is still in progress in France is producing the desired effects.”

FIRST QUARTER 2015

  • Order intake increased to MSEK 1,765 (1,506), organically it increased by 5%.

  • Net sales totalled MSEK 1,397 (1,250), organically a decrease of 3%.

  • Operating profit increased to MSEK 29 (18) and the operating margin to 2.0% (1.5%).

  • Excluding items of a non-recurring nature of MSEK -9 (-20), operating profit amounted to MSEK 38 (38) and the operating margin to 2.7% (3.1%).

  • Profit/loss after tax for the period amounted to MSEK -11 (-3).

  • Earnings per share were SEK -0.13 (-0.04).

  • Free cash flow amounted to MSEK -143 (-68).

The full report is attached to this press release.

Invitation to Telephone Conference on April 28, 09.30 (CET)

To participate in the conference, please sign up using the link below:

https://eventreg1.conferencing.com/webportal3/reg.html?Acc=922949&Conf=192483

Once registered, you will receive a phone number and a password.

09:25  Call in to the conference
09:30  Review of the interim report by Gunnebo’s President and CEO, Per Borgvall, and CFO, Christian Johansson
09:55  Questions and answers
10:15  Closing of telephone conference

Copies of the presentation will be available 30 minutes prior to the telephone conference on www.gunnebogroup.com. Attending from Gunnebo AB are President and CEO, Per Borgvall, and CFO, Christian Johansson.

A recording of the telephone conference will be available on www.gunnebogroup.com from late afternoon April 28.

GUNNEBO AB (publ)
Group Finance

For more information, please contact:
Per Borgvall, President & CEO Gunnebo AB, tel. +46 10 2095 032, or
Christian Johansson, CFO Gunnebo AB, tel. +46 10 2095 032

www.gunnebogroup.com

Gunnebo discloses the information provided herein pursuant to the Swedish Securities Markets Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 08.01 CET on April 28, 2015.

The Gunnebo Security Group is a global leader in security products, services and solutions with an offering covering cash handling, safes and vaults, entrance security and electronic security for banks, retail, CIT, mass transit, public & commercial buildings and industrial & high-risk sites.

The Group has an annual turnover of €610 million, employs 5,700 people and has sales companies in 32 countries across Europe, Middle East & Africa, Asia-Pacific and the Americas as well as Channel Partners on over 100 additional markets.

We make your world safer.

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Gunnebo Interim Report

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