Bravida Interim Report January – September 2014

Bravida's operations have developed positively during the third quarter as well
as the entire period.

  · Net sales were SEK 8,611 million (7,967)
  · Operating profit was SEK 456 million (366)
  · Cash flow from operating activities was SEK 165 million (18)

Bravida's operations have developed positively during the third quarter as well
as the entire period. Operating profit increased by 42 per cent during the third
quarter while sales increased by fully 14 per cent, meaning that operating
profit for the entire period increased by 24 per cent, which means an operating
margin of 5.3 (4.6) per cent. Sales grew during the period by fully 8 per cent
to SEK 8,611 million and cash flow from operating activities increased from
SEK 18 million to SEK 165 million.
Bravida’s operating profit for the period January to September 2014 was SEK 456
million, compared with SEK 366 million for the same period last year. The
operating margin for the period was 5.3 per cent (4.6), while sales increased by
over 8 per cent to SEK 8,611 million (7,967).

Division Norway and Division Denmark showed a significant improvement in both
sales and operating profit while operations in Sweden were stable.

We are seeing significant improvement in Division Norway, where profitability
has gradually improved and has stabilised since summer 2013. The positive trend
in Division Denmark is continuing, thanks to growth of 32 per cent, while at the
same time the order backlog remains strong. In Sweden, Division North and South
are continuing to develop positively in terms of sales, while operating profit
during the period remained unchanged. Sales in Division Stockholm were lower
compared with the same period last year, but the operating profit margin was
improved.

Cash flow from operating activities has continued to be strong in comparison
with the previous year.

The order intake for the period was slightly more than 2 per cent lower in
comparison with the same period in the previous year. The order backlog at the
end of the period in general continued to be good and amounted to SEK 6,454
million (5,827). The Group received major orders during the period primarily in
infrastructure, and from education, healthcare and housing. Public investments
continue to account for much of the growth in the market. In Sweden, investments
in housing have increased gradually. Activity within the industry and new builds
of commercial premises remained generally stable. A number of add-on
acquisitions have been completed during the year, which added sales of just over
SEK 500 million on an annual basis. In total, SEK 51 million was paid for the
acquired operations.

Our assessment is that the building cycle has stabilised and that the market
will continue to improve gradually in 2014 and 2015, but with significant
regional variations. Bravida expects to see continued positive growth during the
fourth quarter 2014 and our aim is to continue to deliver profitability in the
top tier of our industry, while at the same time achieving growth, both
organically and through further acquisitions.

Staffan Påhlsson
CEO and Group President

The report is available at the corporate website: www.bravida.com/en/Financial
-information/

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Bravida Holding AB publishes this interim report in compliance with the Swedish
Securities Market Act and/or the Swedish Financial Instruments Trading Act. This
information was submitted for publication at 12.30 a.m. on 11 November 2014.

Contact information:
Staffan Påhlsson, CEO, or Nils-Johan Andersson, CFO will answer any questions.
Phone +46 8 695 20 00.