FinnvedenBulten’s Half Year Report 2013

Strong Q2 result and good cash flow. Major restructuring initiated in foundry
business
SECOND QUARTER

  · Net sales reached SEK 814 million (830), down 1.9% on the same period last
year.
  · Earnings (EBIT) adjusted for non-recurring items were SEK 51 million (40),
which corresponds to an adjusted operating margin of 6.3% (4.8).
  · Earnings (EBIT) reached SEK 21 million (40), which corresponds to an
operating margin of 2.6% (4.8).
  · Profit after tax was SEK 39 million (25) and SEK 36 million (25) adjusted
for non-recurring items of SEK 3 million net resulting from tax revenue from
recognized interest deduction from the verdict of the Swedish Administrative
Court of Appeal (SEK 27 million) and restructuring costs (SEK –24 million).
  · Order bookings amounted to SEK 830 million (781), up 6.3% on the same period
last year.
  · Cash flow from current activities was SEK 60 million (63).
  · Earnings per share were SEK 1.87 (1.20). Adjusted for non-recurring items,
earnings per share were SEK 1.72 (1.20).
  · Further major restructuring measures of the foundry business have been
initiated.

JANUARY - JUNE

  · Net sales reached SEK 1,524 million (1,637) down 7.0% on the same period
last year.
  · Earnings (EBIT) adjusted for non-recurring items were SEK 71 million (80),
which corresponds to an adjusted operating margin of 4.7% (4.9).
  · Earnings (EBIT) reached SEK 40 million (80), which corresponds to an
operating margin of 2.6% (4.9).
  · Profit after tax was SEK 45 million (55) and SEK 42 million (55) adjusted
for non-recurring items of SEK 3 million net resulting from tax revenue from
recognized interest deduction from the verdict of the Swedish Administrative
Court of Appeal (SEK 27 million) and restructuring costs (SEK –24 million).
  · Order bookings amounted to SEK 1,642 million (1,645), which is in parity
with the same period last year.
  · Cash flow from current activities was SEK 114 million (113).
  · Earnings per share were SEK 2.15 (2.62). Adjusted for non-recurring items,
earnings per share were SEK 2.00 (2.62).

“The recovery in sales and order bookings noted at the end of the first quarter
continued into the second quarter. Higher delivery volumes and increased
capacity utilisation combined with implemented rationalisations had a
significant impact on earnings compared with the previous quarter.

The Bulten division continues to be successful with its FSP concept (Full
Service Provider). Higher delivery and production volumes from both current and
new contracts had a positive impact on profitability. Opportunities for
increased market shares going forward are expected to remain very good. The
profitability of the Finnveden Metal Structures division has also improved
compared with the previous quarter due to higher delivery and production volumes
and implemented rationalisation measures. Further measures in addition to those
initiated earlier have been launched to streamline the foundry business and
focus all magnesium die casting to Poland. Together, these measures are expected
to deliver significant earnings improvements and mean a lower risk level in the
future for the division.”

Johan Westman, President and CEO

Investors, analysts and media are invited to participate in the teleconference
on Wednesday, July 12 at 11:00 CET when the report will be presented by
FinnvedenBulten’s President and CEO Johan Westman. Additional participants from
the company are Executive Vice President Tommy Andersson and CFO Helena
Wennerström. Copies of the presentation will be available on
www.finnvedenbulten.com approximately 30 minutes before the conference starts.

The full report is attached to this press release.

To participate, please call 5 minutes before the opening of the conference call
to
Sweden +46 8 506 443 86, UK +44 207 153 9154, US +1 877 423 0830. Code: 358163#.

A replay of the telephone conference is available until July 26, 2013 on the
phone numbers Sweden +46 8-505 564 73, UK +44 203 364 5196, USA +1 877 679 2989.
Code: 347588#.

For further information, please contact:

Johan Westman, President and CEO
Tel: + 46 31-734 59 00

Kamilla Oresvärd, Vice President Corporate Communications
Tel: +46 70-520 59 17, e-mail: kamilla.oresvard@finnvedenbulten.com