Gunnebo January-September Interim Report 2012

Comments by Gunnebo’s President and CEO Per Borgvall
“The profit for the quarter is lower than the previous year. The quarter has
been burdened by expenses of a non-recurring nature totalling MSEK 46. These can
be attributed in part to an arbitration case, acquisition costs relating to
Hamilton Safe and relocations.
In the third quarter we are seeing continued strong growth in Asia; sales in
India increased by a full 47%. In America sales have developed well both in
Canada and in our acquired units in the US and Brazil. Most markets in Europe
have experienced weaker development in terms of both order intake and sales. One
general trend during the quarter has been for customers in all segments to
postpone investment decisions. We will continue with cost-saving measures in
Europe also in the fourth quarter.
During the third quarter we also acquired US’s Hamilton Safe. The acquisition
gives us a strong position on the world’s second largest market for security,
and we see good potential to grow the business. The acquisition made a positive
contribution of MSEK 12 to Gunnebo’s operating profit in the third quarter.
The gross margin remained at a satisfactory level of 29.7% and the equity ratio
was 39%. As a result, even after the acquisition of Hamilton Safe, Gunnebo has
plenty of room for manoeuvre to invest in growth opportunities on the global
security market.”
Third quarter 2012

  · Order intake amounted to MSEK 1,084 (1,175), in constant currency rates it
decreased by 1%. Acquired units contributed MSEK 79.
  · Net sales increased to MSEK 1,280 (1,247), in constant currency rates they
increased by 8%. Acquired units contributed MSEK 107.
  · Operating profit amounted to MSEK 17 (61) and the operating margin to 1.3%
(4.9%). Acquired units had a positive effect on operating profit of MSEK 21.
  · Excluding non-recurring items of MSEK 46, operating profit amounted to MSEK
63 (74) and operating margin to 4.9% (5.9).
  · Profit after tax for the period totalled MSEK 1 (44).
  · Earnings per share were SEK -0.02 (0.58).
  · Acquisition of US’s Hamilton Safe on August 8.

January-September 2012

  · Order intake increased to MSEK 3,933 (3,868), in constant currency rates it
increased by 3%. Acquired units contributed MSEK 155.
  · Net sales increased to MSEK 3,719 (3,645), in constant currency rates they
increased by 4%. Acquired units contributed MSEK 158.
  · Operating profit amounted to MSEK 69 (158) and the operating margin to 1.9%
(4.3%). Acquired units had a positive effect on operating profit of MSEK 24.
  · Excluding non-recurring items of MSEK 58, operating profit amounted to MSEK
127 (179) and operating margin to 3.4% (4.9).
  · Profit after tax for the period totalled MSEK 22 (77).
  · Earnings per share were SEK 0.26 (1.02).

Full report is attached to this press release.

The interim report will be presented by Gunnebo’s President and CEO Per Borgvall
and CFO Bernt Ingman at a phone conference October 25, 10.00 CET. To participate
in the conference, please sign up using the link below. When registering, you
will receive a phone number and a password:
https://eventreg1.conferencing.com/webportal3/reg.html?Acc=720511&Conf=185490

On Gunnebo’s website www.gunnebogroup.com you will also find presentation
material for download some 30 minutes prior to the phone conference.

GUNNEBO AB (publ)
Group Communications
For further information, please contact:
Per Borgvall, President and CEO Gunnebo AB, tel. +46 10 2095 032, or
Bernt Ingman, CFO Gunnebo AB, tel. +46 10 2095 046, or
Karin Wallström, Communication & IR Director Gunnebo AB, tel. +46 10 2095 026,
or e-mail karin.wallstrom@gunnebo.com

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 October 25, 2012.
The Gunnebo Security Group provides efficient and innovative security solutions
to customers around the globe. It employs 5 800 people in 31 countries across
Europe, Asia, Africa, Australia and Americas, and has a turnover in excess of
€580m. Gunnebo focuses its global offering on Bank Security & Cash Handling,
Secure Storage, Global Services and Entrance Control.

We make your world safer.