INTERIM REPORT, January–June 2016

Continued strong organic growth and improved operating profit
Second quarter of 2016

  · Consolidated net sales increased by 9 percent to SEK 522 m (481), of which
organic growth amounted to 10 percent. Consolidated net sales were the highest
ever for a second quarter.
  · Net sales in Product & Solutions amounted to SEK 397 m (377) and
Installation Services to SEK 156 m (129)
  · Operating profit (EBIT) before items affecting comparability increased by 27
percent and amounted to SEK 84 m (66), which was the highest ever for the Group
in a second quarter
  · Operating profit (EBIT) amounted to SEK 75 m (59)
  · Operating cash flow amounted to SEK 41 m (39)
  · Earnings per share before and after dilution were SEK 2.31 (1.62)

January–June 2016

  · Consolidated net sales increased by 6 percent to SEK 846 m (800), of which
organic growth amounted to 7 percent. Consolidated net sales were the highest
ever for a first half of a year.
  · Net sales in Products & Solutions amounted to SEK 656 m (630) and
Installation Services to SEK 236 m (206)
  · Operating profit (EBIT) before items affecting comparability increased by 38
percent and amounted to SEK 96 m (70), which was the highest ever for the Group
in a first half of a year.
  · Operating profit (EBIT) amounted to SEK 83 m (80)
  · In accordance with the usual seasonal variations, the operating cash flow
was negative, in the amount of SEK -10 m (-21)
  · Earnings per share before and after dilution were SEK 2.32 (2.03)

Message from the CEO
Strong sales growth and significant improvement in earnings
Nordic Waterproofing Group’s business grew strongly in the second quarter of
2016, which was our first quarter as a listed company in the Mid Cap segment on
Nasdaq Stockholm. Consolidated net sales rose by 9 percent and EBIT before items
affecting profitability increased by 27 percent compared with the corresponding
period in 2015.
This performance, combined with our good first quarter, makes for a record first
half year in the history of our Group, with sales up 6 percent and EBIT before
items affecting profitability up 38 percent compared with the corresponding
period in 2015. Our focus is on continuing to provide best-in-class customer
service, product quality and logistics solutions. Our performance is driven by
the expertise and high level of motivation among our workforce. We continue to
look forward to a good full-year for Nordic Waterproofing Group.
Nordic Waterproofing is one of Northern Europe's leading producers and providers
of products and related services for waterproofing, protecting and preserving
buildings and infrastructure.
Consolidated net sales in the second quarter of 2016 showed growth of 9 percent
compared to the corresponding period in 2015, from SEK 481 m to SEK 522 m, with
both of our operating segments contributing. While our Products & Solutions
operating segment picked up steam with a sales increase of 5 percent, our
Installation Services operating segment reported a particularly strong
performance with an increase of 22 percent, following an improving demand
picture in Finland. Denmark continues to see a stable favorable demand trend.
The Swedish market is continuing its robust development, although we noted a
slightly weaker demand in the DIY sales channel, and in our sales of
infrastructure project-related products. Our sales in Norway are back on track
to a significantly positive growth trend, after a somewhat slower first quarter.
The Finnish market has confirmed the early signs of growth seen since the
beginning of the year, driven primarily by customers' projects in the Helsinki
region.
The Product & Solutions operating segment reported significant growth and an
improved margin as the result of an increase in sales volumes combined with a
continued focus on cost optimization. The period saw relatively low prices of
oil and bitumen, albeit somewhat higher than during the first quarter.
The Installation Services operating segment reported improved results, primarily
due to better volumes in our Finnish operations. Our total order book for
Installation Services remains at a high level compared to the corresponding
period in 2015. The business in this operating segment is primarily conducted in
Finland and through franchise companies in Denmark.
In conclusion, we believe that the encouraging results obtained during the first
six months of 2016 confirm the validity of our business model. We intend to
continue strengthening our positions in our core markets, and evaluating growth
opportunities in selected countries and market niches.
Vejen, 23 August 2016

Martin Ellis
President and CEO
Conference call
A conference call for investors, analysts and media will be held today at 10:00
a.m. CET and can be joined online at www.nordicwaterproofing.com. Presentation
material for the call will be available on the website one hour before the call.

To participate, please dial:
From the United Kingdom:                +44 20 3008 9808
From Denmark:                           +45 35 44 55 76
From Sweden:                            +46 8 566 425 09

Further information can be obtained from
Martin Ellis, President and CEO, tel: +45 3121 3669
Jonas Olin, CFO, tel: +46 708 29 14 54
Anders Antonsson, Investor Relations, tel: +46 709 99 49 70
This information is information that Nordic Waterproofing Holding A/S is obliged
to make public pursuant to the Securities Markets Act. The information was
submitted for publication at 23 August 2016, 08:00 p.m. CET.