Summary of Gunnebo's Interim Report for January-September 2013

1. nterim Report January-September 2013
elephone Conference October 24, 2013

2. CEO Comments

The quarter has developed well and order intake
grew organically by 10%.
 Asia-Pacific continued to show excellent growth,
organically it increased by 45%.
 Americas grew organically by 8%.
 Markets in Europe generally remained unstable and
showed no signs of an actual recovery.


Focus on adapting costs in Europe has produced
good results.
Focus to move gravity to growth markets and
adjust cost-structure in Europe continuing,
contributed to improved margins during the
quarter.
 In the third quarter business outside of Europe
accounted for 42% of net sales.
 SafePay & EAS on the right track.
 Moving point of gravity and cost reductions in
Europe will continue.

Operating margin amounted to 7.1% in the
quarter.

3. CEO Comments
 During the quarter, a number of orders that are
fully in line with the Group’s strategy were
received:
 Brazil: breakthrough in the CIT customer segment
with an order for cash handling solutions.
 Korea: a major order from Samsung for entrance
control.
 Belgium: an important order for solutions to tighten
security at airport check-in from TUI Airlines
 Germany: a major retail chain is continuing to
streamline cash handling in its stores with
equipment from Gunnebo
 Spain: Bankia has commissioned Gunnebo to
upgrade security in its branch network in line with
new legal requirements.
8 October 2013, page 3

4. Platform In South Korea Acquired
“The acquisition of ATG Entrance Corporation is very much in
line with Gunnebo’s strategic agenda to move the point of
gravity to markets outside Europe. ATG is the South Korean
market leader in turnstiles with a strong existing customer
base. We also see ATG as a good platform to introduce other
offerings from Gunnebo into the South Korean market as
well as to surrounding countries.”
 ATG Entrance Corporation, distributor of Gunnebo turnstile
product range into the South Korean market, acquired July 5
 Annual turnover of some 4 MEUR and 13 employees in its sales
office in Seoul
 Solid customer base with leading South Korean corporations as
LG, Samsung, Hyundai and the government of South Korea
 Holds a market leading position on the South Korean market
for turnstiles
8 October 2013, page 4

5. Gunnebo Extends Reach in Southeast Asia
 New offices opened in Bangkok, Thailand and
in Yangon in the Republic of Myanmar
"We expect a lot of development in the security
sector in Thailand, mainly as a result of
increasing wealth and improvements being
made to the infrastructure. Our extended
service offering here will allow us to better meet
emerging customer needs.”
“The second new site, a branch office of
Gunnebo Singapore, is located in Yangon,
Myanmar and will give Gunnebo direct access to
the local market. By expanding our presence in
Southeast Asia, Gunnebo continues to take
advantage of the growing opportunities in the
region.”
8 October 2013, page 5

6. Third Quarter 2013
 Order intake increased to MSEK 1,248 (1,084),
organically it increased by 10%. Acquired units
contributed MSEK 60.
 Net sales increased to MSEK 1,314 (1,280),
organically they increased by 3%. Acquired units
contributed MSEK 36.
 Operating profit increased to MSEK 61 (17) and the
operating margin to 4.6% (1.3%). Acquired units
had a positive effect on operating profit of MSEK 7.
 Operating profit excluding expenses of a nonrecurring nature of MSEK -32 (-46) increased the
operating profit to MSEK 93 (63) and the operating
margin to 7.1% (4.9%).
 Profit after tax for the period totalled MSEK 32 (1).
 Earnings per share were SEK 0.39 (-0.02).
8 October 2013, page 6

7. January-September 2013
 Order intake increased to MSEK 4,201 (3,933),
organically it increased by 4%. Acquired units
contributed MSEK 262.
 Net sales increased to MSEK 3,794 (3,719),
organically they increased by 1%. Acquired units
contributed MSEK 208.
 Operating profit increased to MSEK 119 (69) and
the operating margin to 3.1% (1.9%). Acquired
units had a positive effect on operating profit of
MSEK 32.
 Operating profit excluding expenses of a nonrecurring nature of MSEK -54 (-58) increased the
operating profit to MSEK 173 (127) and the
operating margin to 4.5% (3.4%).
 Profit after tax for the period totalled MSEK 54 (22).
 Earnings per share were SEK 0.69 (0.26).
8 October 2013, page 7

8. Business Area Bank Security & Cash Handling
July-Sept
MSEK
Jan-Sept
Full year
2013
2012
2013
2012
2012
Order intake
625
513
1,954
1,718
2,374
Net sales
617
602
1,739
1,652
2,386
Operating profit/loss excl. non-recurring items
45
46
79
92
158
Operating margin excl. non-recurring items, %
7.3
7.6
4.5
5.6
6.6
Non-recurring items
-9
-4
-21
-4
-13
Operating profit/loss
36
42
58
88
145
Market Development
 Good development of US Hamilton Safe
 Good development in India & Australia
 Weaker development in Europe, Africa & Middle East,
especially within the banking sector
Profit analysis
Implemented cost reductions could not fully offset the weaker
sales development in Europe.
Market initiatives to launch concept solutions in cash handling
have continued and have incurred some initial costs.
8 October 2013, page 8
% of Group sales: 46%

9. Business Area Secure Storage
July-Sept
MSEK
Jan-Sept
Full year
2013
2012
2013
2012
2012
Order intake
164
182
574
589
801
Net sales
189
196
577
581
781
Operating profit/loss excl. non-recurring items
9
4
30
17
30
Operating margin excl. non-recurring items, %
4.8
2.0
5.2
2.9
3.8
Non-recurring items
-1
-
-3
-
-11
Operating profit/loss
8
4
27
17
19
Market Development
 Strong order intake from global manufacturers
of ATMs, especially in India
 Overall stable development of order intake
 Good development from newly established sales
company in Malaysia
Profit analysis
The increase in profit during the period can be explained by an
increased focus on cost efficiency in the production and
distribution of standard products.
8 October 2013, page 9
% of Group sales: 15%

10. Business Area Global Services
July-Sept
MSEK
Full year
Jan-Sept
2013
2012
2013
2012
2012
Order intake
201
192
903
914
1,138
Net sales
276
271
818
841
1,143
Operating profit/loss excl. non-recurring items
35
26
83
73
110
Operating margin excl. non-recurring items, %
12.7
9.6
10.1
8.7
9.6
Non-recurring items
-19
-6
-24
-6
-9
Operating profit/loss
16
20
59
67
101
Market Development
 Stable development of order intake
 Good development in Brazil supporting weaker
development in Europe
 Further improved customer service in Australia,
US and Netherlands due to establishment of
service-centers
Profit analysis
The operating profit and operating margin, adjusted for oneoff items, have improved thanks to increased efficiency in our
service deliveries, partly due to a change in the distribution
between outsourced and in-house services on a number of
markets.
8 October 2013, page 10
% of Group sales: 22%

11. Business Area Entrance Control
July-Sept
MSEK
Full year
Jan-Sept
2013
2012
2013
2012
2012
Order intake
202
163
546
502
674
Net sales
164
158
454
466
663
Operating profit/loss excl. non-recurring items
10
9
17
11
47
Operating margin excl. non-recurring items, %
6.1
5.7
3.7
2.4
7.1
Non-recurring items
-1
-27
-3
-28
-33
Operating profit/loss
9
-18
14
-17
14
Market Development
 Good development of order intake
 Good growth in region Asia-Pacific and in the
Middle East
 Weaker development in Europe
Profit analysis
The Business Area’s margins have improved thanks to the
relocation of assembly to China. Last year’s results included
expenses of a non-recurring nature for compensation to a
commercial agent following arbitration.
8 October 2013, page 11
% of Group sales: 12%

12. Developing Businesses
July-Sept
MSEK
Full year
Jan-Sept
2013
2012
2013
2012
2012
Order intake
56
34
224
210
263
Net sales
68
53
206
179
263
Operating profit/loss excl. non-recurring items
2
-13
-9
-38
-42
Operating margin excl. non-recurring items, %
2.9
-24.5
-4.4
-21.2
-16.0
Non-recurring items
-1
-
-1
-
-1
Operating profit/loss
1
-13
-10
-38
-43
SafePay
 SafePay also showed an improvement in profit
during the third quarter.
 A seasonally strong sales quarter coupled with a
continued focus on costs and product quality in close
collaboration with our customers.
Gateway
 Increased demand for electronic article surveillance
and consumables such as tags and labels resulted in
a good quarter in terms of sales.
 An improved gross margin and focus on cost savings
have helped reverse the profit trend.
8 October 2013, page 12
% of Group sales: 5%

13. Gunnebo Global Market Trends January-September 2013
 Asia-Pacific
 Americas
Europe, Middle East & Africa
 North Europe
 South Europe
 France
 Africa & Middle East
8 October 2013, page 13

14. FINANCIALS
Christian Johansson
CFO
8 October 2013, page 14

15. Summary Group income statement
July-Sept
Full year
Jan-Sept
MSEK
2013
2012
2013
2012
2012
Net sales
1 314
1 280
3 794
3 719
5 236
-908
-900
-2 653
-2 614
-3 666
406
380
1 141
1 105
1 570
-345
-363
-1 022
-1 036
-1 391
Operating profit/loss
61
17
119
69
179
Net financial items
-8
-6
-24
-14
-66
Profit/loss after financial items
53
11
95
55
113
-21
-10
-41
-33
-89
32
1
54
22
24
30,9
29,7
30,1
29,7
30,0
Operating margin, %
4,6
1,3
3,1
1,9
3,4
Operating profit excl. non-recurring items, MSEK
93
63
173
127
266
Operating profit excl. non-recurring items, %
7,1
4,9
4,5
3,4
5,1
0,39
-0,02
0,69
0,26
0,26
Cost of goods sold
Gross profit
Other operating costs, net
Taxes
Profit/loss for the period
Gross margin, %
Earnings per share, SEK
8 October 2013, page 15

16. Good News in Q3
 Improved margins related to increased sales outside Europe
 Some price and mix effects inspite of soft markets
 Developing Business (SafePay & EAS)
 Sales
 Gross margin improvements
 Overhead cost reduction
 Efficiency increase in Global Services
 Cost reductions in Europe
 Operations
 Direct material
 Assembly in China
8 October 2013, page 16

17. Operating Cash Flow
MSEK
4 Quarters Aggregated
8 October 2013, page 17

18. Group Liquid Funds and Financial Position
 The Group’s liquid funds at the end of the
period amounted to MSEK 317 (350*)
 Equity totalled MSEK 1,416 (1,533*),
giving an equity ratio of 33% (36*).
 Net debt amounted to MSEK 1,179 (1,026*).
Excluding pension commitments
it amounted to MSEK 817 (684*).
 Debt/equity ratio amounted to 0.8 (0.7*).
*at the beginning of the year
8 October 2013, page 18

19. Gunnebo’s Key Priorities 2013
 Growth
 Gross Margin Improvements
 Fixed Cost Savings in Europe
 SafePay
 Hamilton Safe
8 October 2013, page 19

20. Financial Calendar
Financial Calendar
Year-end release 2013
January 31, 2014
Gunnebo CMD 2014
March 5, 2014
AGM 2014
April 10, 2014
April 29, 2014
Interim report January-March 2014
8 October 2013, page 20

21. Q&A
8 October 2013, page 21

22. THE LEADING GLOBAL
PROVIDER OF
A SAFER FUTURE
8 October 2013, page 22