Bravida Interim Report January – March 2015

• Sales increased by 16.7% to SEK 3,325 million (2,848)
• Operating profit was SEK 152 million (145), an increase of 5.5%
• The operating margin amounted to 4.6% (5.1)
• Adjusted for one-off items, the operating profit increased by 17% to SEK 172
million (147) and the operating margin was 5.2% (5.2)
• Earnings after tax amounted to SEK 62 million (23)
• Cash flow from operating activities was SEK 289 million (272)
• Net debt amounted to SEK -2,437 million (-2,730)
• Agreements were signed for the acquisition of five companies during the
quarter
• Tore Bakke new Division Manager in Norway
Bravida continues to deliver good growth and stable profitability. Net sales
increased by 17 per cent. Our acquisitions represented an important part of the
growth, while organic growth amounted to 5 per cent. This means that, excluding
acquisitions, we continue to grow faster than the market.

Our expansion is also clearly shown in the financial results. The adjusted
operating profit increased at the same pace as sales growth, which meant that
the adjusted operating margin was unchanged at 5.2 per cent. This is in spite of
the fact that profits were affected by the costs of integrating acquisitions.
Our existing operations thus continue to improve the margin, which is evidence
that the strategic improvement work is bearing fruit in the form of increased
profitability.

We are putting a great deal of effort and focus into integrating the acquired
companies. This is central to realising the potential synergies in every single
company acquisition. At the same time, we are maintaining a high tempo in
acquisitions, with 5 companies being added during the quarter.

The order intake was also a strength factor during the quarter, with an increase
of as much as 22 per cent, partly due to acquisitions. This growth represents a
strong basis for the continuing development of invoicing for the rest of the
year.

I am delighted that our customers show such great confidence in us. Our
Satisfied Customer survey shows that our customers give us a high score.

Mattias Johansson
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 11.30 a.m. on 23 April 2015.

Contact information:
Mattias Johansson, CEO, or Nils-Johan Andersson, CFO will answer any questions.
Phone +46 8 695 20 00
Bravida is Scandinavia's leading full-service provider of installation and
service offerings with around 9,000 employees in Sweden, Norway and Denmark.
Bravida delivers specialist services as well as complete electrical, heating and
plumbing, and HVAC solutions, offering everything from design and project
planning to installation, operation and maintenance. Bravida is represented in
over 150 locations in Sweden, Norway and Denmark. www.bravida.com