GB

Part of the Mellby Gård Group since

Mellby Gård’s holding

Revenue

EBITA

Number of employees

Board of DirectorsChairmanMD

Eriksberg Vilt & Natur AB

With its nine hundred hectares, Eriksberg is one of Northern Europe’s biggest game reserves and enclosed nature reserve. A place where magnifi-cent red and fallow deer, bison, wild boar and mouflon sheep roam freely. Eriksberg had 43,500 visitors in 2012.

Through Rune Andersson/Mellby Gård AB, Eriksberg has developed to become a modern conference facility with a first class hotel and restau-rants, with front row seats for the drama created by nature. Eriksberg offers a unique meet-ing place, where the contrasts between eras and styles create a captivating, vibrant atmos-phere, ideal for corporate/management groups who want to work undisturbed and spend a few hours relaxing, and naturally also opportunities for private events. One of the facilities is ideal for ‘hideaway’ meetings and those where maximum security is required.

Among other things, visitors can go on safari and see the wild animals in their natural habitat and enjoy the beautiful natural surroundings. There is an extensive programme of experiences, which is being constantly developed.

For those with an interest in hunting, Eriksberg can offer both individuals and groups hunting experiences that are out of the ordinary. “On the animals’ terms!”

www.eriksberg.nu

Cale Access AB

The Cale Access Group, with its head office in Sweden and subsidiaries in Denmark, Norway, Germany, France, the UK, Canada and the USA, is a world-leading supplier of unmanned machines and systems for the collection and administration of fees in the areas such as parking. Cale products offer flexible, powerful automated ticket systems com-bined with user-friendliness and a high level of security. The products, which are marketed primarily under the Cale name, deliver unstaffed payment in most environments.

Cale has been part of the Mellby Gård family since 1997 – originally as a part of Bewator, but in 2004 the Bewator and Cale divisions were divided into two separate companies, and at the end of 2004 Cale became wholly owned by Mellby Gård. The company’s products are often part of a total concept, in which they deliver major service content with the aim of optimising customers’ opera-tions. Cale offers the tools and the service that are needed in order to be secure in the man-agement of all functions for fee collection, ticketing, finance, maintenance, operation and administration.

www.cale.se

Feralco AB

Feralco is one of Europe’s biggest producers of inorganic water treatment chemicals, mainly various kinds of alu-minium and iron salts. The head office is in Helsingborg and the Group has subsidiaries in eight European countries.

At the end of the financial year a new joint venture was launched in Turkey, with the aim of becoming a leading industry player in this region too.

The company’s products are used for, among other things, supplies of drinking water for most of Europe’s major cities, and also in the treatment of waste water and in specialised industrial applications.

www.feralco.com

1997

> 90%

MSEK 438 (MSEK 434)

MSEK 21 (MSEK 43)

221 (175)

Anders BülowHenrik Mella

Torkel HärdemanBo ForsénOrvar MagnussonFredrik HanssonPaula Kökeritz

2008

> 90%

MSEK 24 (MSEK 17)

–

33 (29)

Sten LibellPer-Arne Olsson Rune AnderssonOrvar Magnusson (deputy)

2001

> 90%

MSEK 805 (MSEK 827)

MSEK 130 (MSEK 128)

186 (183)

Anders BülowLudovic Huitorel, Stephen Childs

Rune AnderssonOlov JohanssonErik Andersson (deputy)Orvar Magnusson (deputy)

Key ratios2012/2013 (11/12)

Boards, 1 November 2013

Flash AB

Flash offers colourful, basic, female clothing with a fashion-able emphasis. The clothes are designed in house and sold in the company’s own stores, currently 76 in total. The target group is independent, active women who have passed the age of 30, are young at heart and care about their appear-ance. At Flash they find clothes for all occasions, for everyday use and for parties. The com-pany’s mission is to create clothes that are both attractive and functional. They must also be of good quality and attrac-tively priced.

The company was founded in 1968 by the Sverdrup family and has been part of the Mellby Gård Group since 2003. Some twenty people work at head office in Lund on marketing, purchasing, design and ware-housing. The garments, of Swedish design, are manufac-tured primarily in the Far East.

www.flashwoman.se

Roxtec AB

Since the beginning in 1990, Roxtec has consistently and in a targeted way developed and marketed secure, flexible seal solutions for cable and pipe penetrations in demanding applications. It is above all flexibility and simplicity that characterise Roxtec, both as a supplier and a product. With the Multidiameter™ invention, which is based on adaptable sealing modules with remov-able layers, Roxtec has set a new standard for the opportu-nities to create seals around cables and pipes of different materials and in different dimensions. Roxtec has solved the problem in a smart, cost-efficient way that has been significant for owners, design-ers and fitters in a number of industries all over the world.

The company’s customers are in sectors such as shipbuilding, oil and gas, process industry, energy, construction, telecoms and manufacturing industry.

Roxtec has 22 subsidiaries all over the world, and supplies peace of mind in more than 70 markets by creating secure working and living environ-ments, protecting equipment and investments, guaranteeing long-term reliability in various installations and contributing to efficient processes and lower total costs.

www.roxtec.com

2003

> 90%

MSEK 321 (MSEK 303)

MSEK 55.3 (MSEK 48.9)

171 (171)

Erik AnderssonFredrik Johansson

Marianne WillénSofia Gottberg NorénOrvar MagnussonJohan AnderssonPaul Sverdrup

2005

> 90%

MSEK 1,173 (MSEK 1,103)

MSEK 281 (MSEK 240)

612 (595)

Hans StråbergMikael Helmerson

Rune AnderssonAnders BülowBo ForsénFredrik HanssonJohan Andersson

Smart Eyes International AB

The Smarteyes chain of optical retailers is a real newcomer in the industry, with the objective of being the H&M of the optical industry.

Smarteyes’ ambition is to have the lowest prices in the market at all times without compromis-ing quality and service. The frames are designed in Sweden and always reflect the latest changes and trends. Smart-eyes’ target group is fashion-conscious people, and they are investing in stores with a modern design that are bright and pleasant – here too they are a pioneer in the industry.

The company has reversed the traditional approach, in which a low basic price is often quoted with additional options for each customer, often resulting in a pair of glasses becoming extremely expensive. At Smarteyes the customer always knows in advance how much he or she will be paying. Two price levels are applied for the clear glasses offered: one for single vision and one for progressive – regardless of sight impairment and choice of frame. The low fixed price also means that the customer often chooses to buy extra pairs.

The aim is also to take Smart-eyes’ business model and concept into the international market. The first step was to move into the German market, and expansion will continue into more countries.

www.smarteyes.com

2007

> 90%

MSEK 306 (MSEK 285)

Neg (Neg)

217 (211)

Johan AnderssonFredrik Wistrand

Erik AnderssonThomas GustafssonRune AnderssonOla BartholdssonOrvar Magnusson (deputy)

Söderberg & Haak Maskin AB

Söderberg & Haak is Swe-den’s leading privately-owned import company for machines for agriculture, industry and machine contractors. The com-pany started life as an iron and steel wholesaler in 1866, and about 30 years later a sepa-rate company was formed for machines. This was the origin of Söderberg & Haak Maskin AB, which celebrated its cen-tenary in 1998. The company is a distributor and provider of support for the New Holland, Case IH, Krone, JCB and Ama-zone brands. The resellers are 50 or so private, independent entrepreneurs in Sweden, from Råneå in the north to Ystad in the south, offering the various customer categories full-scale sales, service and spare parts supplies.

Söderberg & Haak Maskin AB has been a part of the Mellby Gård Group since 1995. The company’s role in a value chain leading from international manufacturers to private resell-ers and end customers involves taking care of those functions that are managed most ration-ally and cost-efficiently in the S&H process, e.g. logistics, financing, warehousing, mar-keting, training, etc.

www.sodhaak.se

1995

> 90%

MSEK 982 (MSEK 1,126)

MSEK 8.9 (MSEK 37.3)

101 (110)

Rune AnderssonThomas Svensson

Erik AnderssonPontus Bogren Erik ThuringSten Libell Agneta Lilliehöök

Employees’ representatives:Jan Erik NilssonJoakim Karlsson (deputy)

Älvsbyhus AB**

Älvsbyhus AB’s business concept is to build high-quality prefabricated, cellar-less wooden houses on 1–1.5 floors at the lowest price in the market. This means that they assume responsibility for the whole construction process, from foundations to a house that is ready to move into. They achieve this by having both in-house staff and a group of regular contractors. Älvsbyhus has always had its own saw-mill, which means that they are self-sufficient in most respects. The company’s market is in Sweden, Finland and Norway, with forty or so resellers in those three countries. As an individual brand, Älvsbyhus is believed to be the biggest in Scandinavia, with a production level of 950 houses and a pro-visional figure of approx. 800 houses for 2012.

Älvsbyhus is a family firm that was founded in 1944 by Göran Johansson (grandfather of cur-rent MD Kent Johansson) and his best friend Gunnar Johans-son. Initially it was a pure joinery business, but in 1960 it set up the house production business that is still being run to this day. Since the mid-1990s the company has been owned through companies in equal shares by the Johansson and Andersson families, i.e. for the Andersson family through Mellby Gård.

www.alvsbyhus.se

2012 (2011)*

1995

50%

MSEK 1,062 (MSEK 1,069)

MSEK 224 (MSEK 251)

300 (329)

Rune AnderssonKent Johansson

Johan AnderssonErik AnderssonStefan JohanssonAnders BülowHans BerggrenSusann Lejon

Trade union representative, GS:Robert Forsberg

2012 (2011)*

2007

29,99%

MSEK 3,669 (MSEK 3,807)

MSEK 340 (MSEK 404) excl. restr. cost

1,875 (1,888)

Anders BülowThomas Gustafsson

Pia RudengrenAlexander MyersMagnus Yngen

Employees’ representatives:Per-Åke Halvordsson,Henry Olsen,Inge Larsson (deputy) andÅsa Lundqvist (deputy)

2012 (2011)*

2011

38%

MSEK 305.9 (MSEK 261.4)

MSEK 2.3 (MSEK 8.5)

2 (2)

Thomas SvenssonMatilda von Rosen

Rune AnderssonJarl SintornMats ErikssonBritt-Marie Eriksson (deputy)Sten Libell (deputy)

2012 (2011)*

2010

30%

MSEK 660.9 (MSEK 691.2)

MSEK 18.4 (MSEK 4.7)

1,330 (1,474)

Bengt WallentinTobias Lindfors

Niklas JanssonRune AnderssonAnders Bülow

Duni**

Duni is a leading supplier of attractive, functional products for tabletop and takeaway. The Duni brand is marketed in more than 40 markets and is a market leader in Central and Northern Europe. The Group is listed on the NASDAQ OMX exchange in Stockholm. Duni has around 1,900 employees in 17 countries, a head office in Malmö and pro-duction facilities in Sweden, Ger-many and Poland.

The company is divided into three business areas: Professional, Consumer and Tissue.

The Professional business area consists of two product catego-ries: Table Top and Meal Service. Table Top primarily markets ser-viettes, tablecloths and candles, which are combined in matching concepts for the dining table. Meal Service markets more functional concepts for meal packaging and serving products. Customers are primarily in the hotel, restaurant, catering and large-scale kitchen sectors.

In the Consumer business area, Duni offers products for consum-ers via the retail sector, special-ist stores and home furnishing stores. The range of tableware combines design and function-ality in a create way to create pleasant environments for all occasions where food and drink are enjoyed. The products consist of serviettes, candles and table-cloths, as well as plastic products such as glasses, mugs, cutlery and plates.

Duni’s Tissue business area pro-duces tissue paper for table top products and manages external sales of tissue paper, primarily to customers for the manufacturing of hygiene products.

www.duni.se

BM Agri AB**

BM Agri AB is a private opera-tor with national coverage in the cereal and oilseed market that aims to give the grower the highest possible price and the industrial customer a competi-tive price while maintaining the traceability of each batch. This is done by working in close col-laboration to market the grow-er’s harvest directly to industrial customers on wholesale market terms. BM Agri identifies the best price options, after which the grower is engaged and assumes responsibility for work on guaranteeing the quality of batches sold.

BM Agri also trades in fertiliser and sells to growers. The ferti-liser is bought partly in Sweden and partly via the company’s own imports, primarily from Poland and the Baltic region.

Within these three segments – cereals, oilseed and fertiliser – BM Agri is striving to be an operator that not only offers competitive value for money, but is also a flexible, responsive, simple and reliable business partner.

www.spannmal.se

Meet your future Group AB**

Meet your future Group AB contains the companies Student Consulting, Professional Con-sulting and Work Match. The Group works in the field of staff-ing, recruitment and job match-ing, specialising in students, academics and those starting out on their careers.

In 2012, companies within the Meet your future Group employed 9,074 people in the service areas Finance, Cus-tomer Service, Administration, IT, Sales, Logistics and Produc-tion.

The biggest company in the Group, Student Consulting, was founded in Luleå in 1997 by a couple of students. The busi-ness concept was to introduce university and college students into trade and industry by offer-ing extra jobs alongside their studies.

The Group now operates in Sweden, Norway and Denmark with part-time staffing, full-time staffing, recruitment and job matching in the niche area of students, academics and those starting out on their careers. Clients include major national and international companies and government authorities.

At the end of 2012, the Meet your future Group had activities in 95 offices.

www.meetyourfuturegroup.se

* Financial year = calendar year ** Associated company

2008

45% of capital, 55.1% of votes

MSEK 92.6 (MSEK 66.1)

MSEK 70.0 (MSEK 49.2)

5 (4)

Rune AnderssonThomas Pohjanen

Björn SuurweeSten Libell

Excalibur Värdepappersfond AB

Excalibur is a special fund set up under the Swedish Act (2004:46) on Investment Funds, focusing on the interest rate and currency markets. The fund is managed by Excalibur Värde-pappersfond AB. The Excalibur Fund started as a Swedish spe-cial fund on 1 April 2001. The fund aims to secure the value of capital and to deliver a stable return based on a thorough analysis of basic economic factors.

www.excalfond.se

6

Contents

Company facts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7The Group . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 8Agriculture, horses, forestry and hunting . . . . 10Company structure . . . . . . . . . . . . . . . . . . . . . . . . . 12Financial key ratios, Mellby Gård AB . . . . . . . . 13Cale Access AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14Eriksberg Vilt & Natur AB . . . . . . . . . . . . . . . . . . . 16Feralco AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18Flash AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20Roxtec AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22Smart Eyes International AB . . . . . . . . . . . . . . . . 24Söderberg & Haak Maskin AB . . . . . . . . . . . . . . 26Älvsbyhus AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 28Excalibur Värdepappersfond AB . . . . . . . . . . . . 30BM Agri AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32Meet your future Group AB . . . . . . . . . . . . . . . . . 34 Duni AB . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 36

Contact details . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38

7

In a turbulent world in which the financial systems are experiencing worrying times, the industrial group of companies Mellby Gård AB is once more reporting a very strong financial result in relative terms . Rune Andersson has made use of the breadth and diversity of the companies

in the Group to protect himself and the family firm against excessive fluctuations . A good mix of companies with products and services, where some benefit from strong domestic demand, while others benefit from significant needs in the world at large . Some of the companies benefit from a weak Swedish krona, while the reverse is true for other parts of the business .

Combined with a high degree of variation in direction and markets, there is an automatic balance that ensures that there are no sudden changes in the consoli-dated results when the financial year comes to an end .

All in all, the net profit for the year is slightly below last year’s, but it is still within a planned, fully acceptable level .

In this yearbook we report the financial results of each subsidiary and associ-ated company for the last financial year, and also find out about each company’s development, with comments on their own sectors . We are also given a summary of the threats and opportunities that each MD sees in his or her view of the com-pany’s future .

Developments do not stand still in any of the companies in the Group . New startups, acquisitions, product development, strategic changes and market adap-tations are happening all the time . This, and much more besides, is highlighted in this yearbook .

There have been no major acquisitions over the past financial year . The reason is in the first instance the low price of capital, which is contributing to the fact that despite the tough economic situation it is a seller’s market, and far too many com-panies are being sold for unreasonable prices .

A degree of succession has started at the beginning of the current financial year, with Johan Andersson being appointed MD of Mellby Gård AB and a Board of Directors is in the process of being appointed .

8

Mellby Gård / Mellby Gård Industri AB

Rune Andersson, Anders Bülow

“Even though we’re reporting a slightly lower overall profit than last year, this is a relatively strong financial result,” says Rune Andersson .

“The downturn is due largely to the one-off cost of restructuring Duni . That alone accounts for about half of the downturn, the other part is largely because Söderberg & Haak had a tough year .

“We’re within the scope of normal fluctuations, where the ups and downs experienced by the other businesses essentially cancel out one another . Thanks to our diversity in so many industries, everything from construction to glasses and clothing, we’re not hit sud-denly by any major upturns or downturns .

“The new financial year has started incredibly well, and I’d be very surprised if we don’t produce a far better financial result for the current financial year,” says Rune Andersson .

“We have very strong cash generation and no net

liability . We bought a few resellers within Roxtec during the year, but otherwise there were no major acquisi-tions . Our basic principle when it comes to an acquisi-tion is that it must:

– strengthen a subsidiary– become a new core business– be a small, fast-growing company

“These haven’t been good times for acquisitions . A lot of people are paying reckless prices, so in that respect it’s not a buyer’s market,” says Anders Bülow .

“When the cost of capital is essentially 0, investors look for a return, at the same time taking greater and greater risks . As a family firm, we can’t allow ourselves to do that .”

A generational change has been initiated, with the appointment of Johan Andersson as MD of Mellby Gård AB . And for the first time ever, a Board of Direc-

IN RELATIVE TERMS, A VERY STRONG FINANCIAL RESULT

Rune Andersson, founder and Chairman of the Board, Mellby Gård AB

Sten Libell, Administrative Director

9

tors has been set up for the company, comprising Rune Andersson and his sons Gustav, Erik and Johan, together with Anders Bülow and Hans Stråberg .

“This Group is structured around a very decen-tralised decision-making machine,” points out Rune Andersson . “The fundamental power rests with the boards of the various subsidiaries . The most important task of the main Board is to appoint the various com-pany boards and to exercise financial control .

“As we have such diverse businesses, it would be impossible to bring together all of the necessary com-petence centrally . It’s better that everyone does their bit and that we have a streamlined organisation at head office .

“The most important effect of Johan taking over as MD on a full-time basis is that we expect to be starting some new, slightly smaller businesses . I also think that it feels really good to be able to gradually step down

from a few boards,” concludes Rune Andersson .“But you shouldn’t expect us to change direction,”

emphasises Johan Andersson . “My intention is not in any way to make any significant changes to the way the company’s run .

“Initially I’ll be familiarising myself with our various businesses, and then I’ll be spending most of my time evaluating various opportunities for new holdings . The new feature in this respect is that we’ll also be looking at smaller, rapidly expanding companies with potential .

“That doesn’t mean that we’ll stop keeping an eye out for something that might be a new main holding according to the criteria we’ve traditionally applied, that’s to say the company must be number one or two in its industry or have the potential to be so .”

Bo Bjelkenstav, Financial Market

Eva Åberg, Administrative Assistant

Orvar Magnusson, CFO

Johan Andersson, MD, Mellby Gård AB

Rolf Andersson, Accounts Manager

Anders Bülow, CEO, Mellby Gård Industri AB

10

Mellby Gård

Anders Elmqvist, Inspector

Jan-Olov Alfredsson, Trotting Trainer

Other businesses

“We’ve not made any major investments or changes during the financial year . We’ve concentrated on fine-tuning production and achieving the best possible results,” says Anders Elmqvist, Inspector and the man responsible for running the farming business .

“Not least of all, we’ve looked at what we can do when it comes to buying raw materials . While this year’s high soya prices were counterbalanced by lower cereal prices, we have to be alert and aware when making purchases in order to improve profitability .

“The same holds true for sales . On the forestry side, during certain periods the sawmills pay more for timber . For example, sawmills always need timber quickly for processing just after the holidays, which is why we do our final felling around that time in order to benefit from the sawmills’ premiums .”

The grounds are rich in game such as elk, deer, wild boar and birds . Regular hunting takes place on this land under Andreas Molin’s guidance .

Mellby Gård runs a modern agricultural business involving pig and cattle production, forestry opera-tions and horse breeding . Pig production is dominant, with the farm being one of the biggest pig producers in Skåne, rearing almost 16,000 slaughter pigs a year .

“Keeping down costs is an important element of the business . We produce most of the pigs’ feed ourselves . We also use a lot of alternative ingredients such as bread, dregs (residual product from distilling schnapps), whey (residual product from cheese production) and potato soup (residual product from the production of French fries) . These raw materials are blended with cereals and soya to create nutritious, wholesome feed .

“Even when it comes to waste from the animals, we make the best use of it . Both for the environment and in purely financial terms . Pigs produce four times as much faeces as humans, and it also contains high levels of nitrogen and phosphorus . In the past, it was used as fertiliser on the fields, but as we specialise in

HORSES BRING NATIONAL RECOGNITION TO MELLBY GÅRD, BUT PIG FARMING DOMINATES

11

pig production the demand isn’t as high here . So we developed a system in which we spread the soft part on crops, while the solid part goes for composting . There’s a gigantic composting drum that only takes a few hours to transform manure from the farm into odour-free fertiliser that’s sold to companies that manu-facture flower and potting soils . The end product is a soil improvement agent that ends up in plastic sacks on the shelves in garden centres .”

Horse breeding“We’ve strengthened our position compared with last year,” says Jan-Olov Alfredsson, who is Trotting Trainer and responsible for this area of operations at Mellby Gård . “We’ve found a real walking billboard in Mellby Briolett, a three-year-old who has brought in winnings of 2 .5 million in ten starts so far in 2013 . Her achieve-ments include a victory in the E3 Final for fillies in June and a second place in the Swedish Trotting Oaks .

“But it’s not just at the top that we’ve performed better during the financial year . Right across the board, our horses have in general delivered much more than in previous years .

“The reason is, of course, that we’re now seeing the first three-year-olds sired by our stallion Going Kronos . Briolett comes from his first group of descendants .

“During the year we’ve been gradually replacing a lot of our fillies, and we now have generally better indi-viduals . But it’ll take some time before these changes have an impact . The three-year-olds appearing on the courses now were sired four years ago, so these are long-term investments .

“In summary, I can say that things look very promis-ing for the future,” concludes Jan-Olov Alfredsson .

12

Company structure, 1 November 2013

Mellby Gård Jordbruks ABshareholding >90%

Mellby Gård Industri AB

shareholding >90%

Mellby Gård AB

Cale Access ABshareholding >90%

Feralco ABshareholding >90%

Flash ABshareholding >90%

Roxtec ABshareholding >90%

Meet your future Group AB

shareholding 30%

Eriksberg Vilt & Natur ABshareholding >90%

Söderberg & Haak Maskin AB

shareholding >90%

Smart Eyes International AB

shareholding >90%

BM Agri ABägarandel 40%

Duni ABägarandel 29,99%

Älvsbyhus ABshareholding 50%

Excalibur Värdepappersfond AB

shareholding 45%

13

Financial key ratios

Mellby Gård AB Consolidated balance sheet, 30 June 2013. Amounts in MSEK.

Mellby Gård Industri AB Consolidated balance sheet, 30 June 2013. Amounts in MSEK.

Key ratios, Mellby Gård AB 2012/2013 2011/2012EBITDA 786 853EBITA 659 729EBIT 562 644

Key ratios, Mellby Gård Industri AB 2012/2013 2011/2012EBITDA 542 546EBITA 469 475EBIT 382 398Number of employees 1,160 1,071

Assets Intangible non-current assets 1,371 Tangible non-current assets 1,134 Financial non-current assets 2,222 Inventories 712 Current receivables 2,405 Cash, bank, investments 1,260

TOTAL ASSETS 9,104

Assets Intangible non-current assets 1,188 Tangible non-current assets 414 Financial non-current assets 123 Inventories 311 Current receivables 695 Cash, bank, investments 562

TOTAL ASSETS 3,293

Equity and liabilities Equity 5,475 Provisions and minority interests 273 Liabilities to credit institutions 1,376 Liabilities to owners & associates 624 Other liabilities 1,356

TOTAL EQUITY AND LIABILITIES 9,104

Equity and liabilities Equity 1,784 Provisions and minority interests 137 Liabilities to credit institutions 760 Other liabilities 611

TOTAL EQUITY AND LIABILITIES 3,293

Board of Directors, Mellby Gård AB Rune Andersson, Chairman Johan Andersson, MD Gustav Andersson Erik Andersson Anders BülowHans Stråberg, from dec 2013 Sten Libell, deputy Orvar Magnusson, deputy

Board of Directors, Mellby Gård Industri AB Rune Andersson, Chairman Anders Bülow, MD Johan Andersson Gustav Andersson Erik Andersson Orvar Magnusson, deputy

14

Cale Access AB

“The financial year 2012/2013 was a very tough one not only for Cale, but for the industry as a whole,” says Henrik Mella, MD of Cale Access AB . “Ultimately, cities and municipalities are our most important customers . They, both in Sweden and the rest of the world, have been wrestling with financial problems in recent years and have chosen to view parking equipment as a cost item that they can cut, despite the fact that they always make money on our installations and actually, to be purely logical, in difficult times they should have more machines installed to increase revenues .

“I’d said in the past that we hadn’t been affected by the economic downturn, but last autumn it became part of our everyday life as well . Customers are wait-ing longer to replace old machines, and then they also try to replace them with fewer . Furthermore, negotia-tions and orders have been much longer drawn-out, and many times decisions have been appealed, which has further delayed purchasing decisions . All in all, this resulted in a significant drop in demand for parking

machines during the past financial year, and conse-quently in tougher competition and pressure on prices .

“Cale has acted on several fronts to deal with this tougher market situation . We’ve cut our costs, espe-cially on the consultant side . We’ve been working hard throughout the year to introduce a new contract manufacturer for our machines, which will result in a significant cost saving . Batch production will start this autumn . During the year we also added new services in our back office systems, for which we’ve been able to charge more . We’ve also adjusted the prices of certai n products and services .

“Cale is looking for future growth in two areas above all: the production of a total solution for “digital park-ing” and geographical expansion . The total solution consists of machines for entering registration numbers, a mobile phone application, a surveillance solution with features including scanner equipment for park-ing attendants and a back office system to hold it all together . Anyone who parks must be able to pay

MD Henrik Mella

A TOUGH YEAR FOR CALE

15

using coins, notes, card or mobile phone in a uniform, simple way . The City or the parking operator must have access to all payment information and necessary input for surveillance from one system . The parking atten-dant should not have to use lots of different systems, devices and slips of paper to do his or her job, but should only have to press a button to find out whether or not a car has paid or has a permit . This autumn we’ll be conducting a pilot project for mobile phone-based parking in Sweden and Norway, and we also have a pilot project under way for our surveillance solution in Sweden . Active selling of the surveillance system will start in the Netherlands as early as this autumn .

“As far as our geographic expansion is concerned, last year we set up a subsidiary in Denmark . That’s gone very well so far, customers are very satisfied and we’ve actually been earning money from Day One . At the moment we’re setting up a subsidiary in Spain, having secured our third deal in that country . Spain’s a country with significant potential for Cale . In December

we opened a representative office in Kuala Lumpur, Malaysia, to access the expanding economies in South East Asia . We’ve signed distributor agreements with partners in Malaysia and Indonesia, and have already completed some small deliveries . Above all, the oppor-tunities for the future feel extremely exciting, and it’s evident that a local presence is very important in those countries .

“We’ve put a lot of energy into transforming the organisation to have more focus on customers and sales . Historically, Cale has been an innovative, technology-oriented product company in which the approach centred on large individual projects rather than active marketing work . I’m convinced that more customer calls, better planning and follow-up, clearer marketing messages, etc . will enable us to reach small and medium-sized customers in a more effective way . We’re just at the beginning of an exciting journey,” confirms Henrik Mella .

16

Eriksberg Vilt & Natur AB

“Without doubt the biggest event in the financial year took place on 13 September, when Eriksberg was officiall y reopened by King Carl XVI Gustaf together with the Queen, the County Governor and a number of representatives of regional trade and industry,” says Per-Arne Olsson, MD at Eriksberg .

“Together with invited representatives from travel and event agencies, as well as our contacts in local and regional networks, the royal couple were invited to a banquet that was rounded off with a much-appreci-ated tour of Eriksberg . The views were enjoyed at their best in glorious sunshine, with the powerful baying of the stags audible in the background . The event was very much appreciated, and for our part we attracted coverage in the form of a lot of articles in the media .

“There was also a good response from event com-panies and travel agencies . Among other things, this spring we had customers originating from this event .

“In general we can see how people who have stayed at Eriksberg a number of times act as ambassadors and recommend others to enjoy our magnificent natural setting and our amazing facilities .

“Another important factor is that during the year we recorded a film, Amazing Eriksberg, to show people what it is that makes Eriksberg so unique and what we have to offer . We’ve also made a film about our high-security villa, Liljetorpet, to show to potential customer s .

“At Eriksberg we follow the cycles of nature, and the shooting of animals in the autumn is significant for us . Not only does it provide us with a lot of satisfied customers in the form of hunters who are given a full experience, but the game is also an important resource in our restaurants, and we take care of everything from slaughtering to parcelling in our own abattoir here at Eriksberg . It’s a major advantage to be able to follow

MD Per-Arne Olsson

THE KING REOPENS ERIKSBERG

17

the whole process, from birth to plate, to maintain a high level of quality in the meat .

“In July 2012 we had a happy event with the con-finement of the bison twins Vilda and Vackra, a unique event in the world, which attracted a lot of press cover-age, both nationally and internationally . Ten calves were born last year, a record . Never before had so many been born in the 35 years that there have been bison at Eriksberg .

“In the spring we hired a restaurant manager/ sommelier from South Africa who had international experience . It’s important for us to guarantee quality and to develop the concept surrounding our wine cellar together with our culinary experiences, which are com-bined in consultation with the head chef .

“This year we also extended our range of own label wine to include two Italian wines, and have continued to hold events together with Carl Jan Granqvist and

other well-known authorities on wine . “Eriksberg is in a constant state of development,

and we strive at all times to refine our product . At the moment we’re defining our market . In the past our catchment area was local/regional, but now we have not only Sweden, but also international visitors as our target group . We expect to be working primarily with event agencies and large companies, although we also see private individuals as an increasingly significant customer group . Among other things, we’ve chosen to work with agents specialising in each market in order to best reach our customers .

“Finally, I’d like to add that the building dust has finally all but disappeared from Eriksberg,” says Per-Arne Olsson . “All that remains is to renovate part of the barn to create offices and staff premises . We’ll also be refurbishing the large area next door, giving us a party/event venue into the bargain .”

18

Feralco AB

“The past financial year’s been generally good for the Feralco Group . Sales fell a little, but the profit was better than last year,” say Stephen Childs and Ludovic Huitorel, the Feralco Group’s two Managing Directors .

“The drier weather in Europe was the reason for sales in Europe falling a little compared with the previou s year, but thanks to better margins for the Group as a whole we were able to report a better finan-cial result .

“In some regions we found things a bit tougher in the industrial markets . The pulp and paper industry was particularly challenging because of the tough con-ditions in that sector .

“In Northern European countries we’ve essentially seen business unchanged compared with the previous year, although there too both turnover and profit were

affected in connection with the exchange rate into Swedish kronor . This currency is much stronger at presen t compared with previous years .

“The difficult economic conditions in Southern Europe have continued to impact on our business . Hard-pressed towns and municipalities have been striv-ing to minimise consumption of our products, which has contributed to tougher competition in these markets . In view of these cutbacks, we’re nevertheless satisfied with our performance here .

“We’re continuing to actively investigate new oppor-tunities, and we’ve taken our first steps into the Eastern European markets together with our new joint ventur e partner Akim, a major industrial company based in Istanbul, Turkey . We’re convinced that our shared knowledge and experience in the manufacture and

REMAINING STABLE – NOW WE’RE LOOKING TO THE EAST

Ludovic Huitorel, MD Feralco Europe

Stephen Childs, MD Feralco Europe-North

19

marketin g of water treatment products will provide a stable platform on which to develop our joint business in this exciting, expanding market . At the same time we can also see opportunities for consolidation in Western Europe, a process that we intend to monitor and also play an active role in .

“The conditions in the market remain challenging, but we’re in a good position to secure our position as one of the leading suppliers of these important chemicals . More than 100 million people are supplied with drinking water that’s been treated by products from Feralco, including the inhabitants of major cities such as London, Paris and Madrid . Feralco is Europe’s second biggest manufacturer of coagulants for water treatment,” conclude Stephen Childs and Ludovic Huitore l .

20

Flash AB

“2012 and 2013 were relatively weak years for the fashion industry in Sweden,” confirms Fredrik Johans-son, MD of Flash AB . “Growth in turnover came primar-ily from shopping malls and new stores .

“City centre shopping is under pressure in more and more places from increasingly strong out-of-town shopping malls . A new trend has seen these malls becoming increasingly trendy and fashion-oriented, having previously focused primarily on high-volume and basic products . This means that city centre shopping has plenty of challenges to deal with . And this is some-thing that Flash too is noticing . The company’s stores in out-of-town shopping malls are winning market shares from stores in more central urban locations . This is first and foremost a challenge purely in terms of prof-itability, as external store locations mean higher costs . Above all, it’s the longer opening hours, which naturally affect the company’s staff costs at store level .

“The financial year 2012/2013 was an acceptable year in terms of turnover . The trend in Flash’s existing stores was better than in the industry as a whole . The primary reasons for this are in the first instance the strengths we possess in our employees’ experience with a major focus on customers, and we’ve also been able to offer customers an attractive product range,” says Fredrik Johansson .

“We’ve expanded this year with five new stores in total . At the end of the financial year we had a total of 76 stores, four of them in Finland . New stores were opened in Ängelholm, at Emporia in Malmö, on Drottninggatan in Örebro, at the Nian mall in Gävle and at Strand Galleria in Luleå . One store in Finland was also relocated . We’ll continue to expand in future .

“Flash has for a long time had a lot of loyal custom-ers who regularly return to our stores . Many of them are members of the Flash Club, the company’s customer

FLASH’S GROWTH CONTINUES

MD Fredrik Johansson

21

club . This club has grown strongly in recent years . Flash Club members are offered various kinds of spe-cial offers, have priority in campaigns and receive con-tinuous information about new fashion items in Flash’s stores . To attract new customers, the company works to be seen in fashion magazines, in fashion reporting and through some advertising in the daily press .

“The organisation of the company continues to be developed . At store level there are a lot of skilled employees, which is crucial if customers are to feel welcome in the stores . Most of these employees are very good at helping customers to find clothes that suit them . There’s tremendous knowledge of fashion, colours and styling . Thanks to a focus on minimising administrative work in stores, in-store employees really do have a chance to offer customers good customer service . The organisation is also being developed at central level, with both marketing and logistics facing

exciting challenges, as Flash will be launching an e-commerce function during the coming financial year .

“Flash continues to work on the basis that ‘Retail is detail’ . To be competitive in an extremely competitive market, with constant changes, every task carried out must be done with great precision . This is even more so when most of our competitors are bigger and pos-sess more resources . We’re looking forward to a year of challenges, in which we continue to develop in a positive direction,” concludes Fredrik Johansson .

22

Roxtec AB

“Roxtec is reporting its best profit ever, but unfor-tunately I can’t take the credit for that,” says Mikael Helmerson, who took up the position of MD of the Roxtec Group only two months before the end of the financial year .

Mikael Helmerson joins the business from his most recent position as MD of Nord-Lock International, which like Roxtec is a multinational company that offers customer value based on safety, reliability and cost optimisation for industries such as oil and gas, power generation and the rail industry . Mikael Helmerson is therefore familiar with Roxtec’s strategy and how the company has been approaching the market for many years . He has moved to Karlskrona with his family for his job at Roxtec .

“I think it’s important to be on site and to have an association with the location of head office . Initially, of course, there’ll be a lot of travel, and I’ll be visiting all of the Roxtec units around the world . I’ll be focusing on developing Roxtec on the basis of the existing business, which has clearly proven to be extremely successful in identifying a model that combines value for the cus-tomer with good profitability and growth for the com-pany,” says Mikael Helmerson .

“During the spring we launched a unique software program that helps both our customers and us . Design-ers and engineers all over the world can enter their own cable schematics and specify deal requirements, other preferences and provisional sized in the program . Roxtec Transit Designer, as the program is called, then

THE BEST YEAR SO FAR

MD Mikael Helmerson

23

generates approved drawings and other documents such as material lists and installation instructions .

“The program makes the process much easier and quicker . It also minimises the risk of errors in projects . We also offer the facility for a design team to share its work online with project teams anywhere in the world . Our experts are always on hand to help via a built-in chat function .

“It was obvious that it was a real success within only a few weeks of the launch . Lots of users all over the world downloaded the new tool and started to use it, so you can say it was a ‘hit’ among engineers .

“At the end of the financial year we bought our former distributors in Russia and Norway, which have

now been integrated as subsidiaries in the Roxtec Group . Both markets have developed well and we expect continued growth, as there’s high local demand for our solutions . Otherwise, the major opportunities that we can see in the immediate future are primarily in Asia and in the Off Shore sector,” concludes Mikael Helmerson .

24

Smart Eyes International AB

“The past year has seen us focus on developing and structuring our concept,” says Fredrik Wistrand, MD of Smart Eyes International AB . “So I’d tend to call it a modest year, even though we continued to grow healthily during the year and now have 40 stores in Sweden, 11 in Germany and have also taken our first steps into a new country, Denmark .

“As far as day-to-day work is concerned, internally we’ve put a lot of effort into laying stable foundations for the future . Since last summer we’ve taken up a new position in the market and have shifted direction from the optical to the fashion industry . We’ve drawn up a new strategy and want to make glasses something more than vision aids, into an important element of a personal, varied style for different occasions . It’s about everything from what our advertising looks like to how we communicate with customers; most only have one pair of glasses and replace them every three years . We

want to change the perception of glasses from being a vision aid to being part of a personal style .”

Musicians are often the first to adopt new fashion trends . And the same holds true for glasses . That’s why we’ve chosen to engage with, among others, well-known musicians with a personal style . First in line were the artists Pernilla Andersson and Danny Saucedo, who made frequent appearances during the year in TV adverts for Smarteyes

“Smarteyes’ view of glasses is just right for anyone who thinks that it’s great to choose for yourself which style you want for any occasion,” says Pernilla Anders-son .

“I’ve been wearing Smarteyes’ glasses for several years . They have smart frames and a low fixed price . The concept suits me, as I like to change my style regularly on stage, including my glasses,” says Danny Saucedo .

TIME FOR NEXT STAGE OF SMARTEYES’PROGRESS AFTER MODEST YEAR

MD Fredrik Wistrand

25

“All in all it’s been a really big job, coming as we do from having been quite a small company based on entrepreneurship to where we are today: we’re actually an established company that’s constantly expanding apace,” says Fredrik Wistrand .

“We now feel ready to take the next step in Smart-eyes’ progress, and also expect to be able to harvest the fruits of our hard work for many years . We expect increased turnover, but above all a significant improve-ment in the profit for the Swedish part of the business .

“In Denmark we’ve just opened our first stores and will continue to open new ones during the course of the year . We’re in an establishment phase there in the same way as we’ve been in Sweden for a few years until now .

“In Germany, where we have eleven stores, we’re somewhere in between . We’ve not yet confirmed the concept 100%, but we’re well on the way . Consumer

behaviour and the role of the optician in Germany are very different from the scenario we know in Sweden . So the concept has to be adapted according to the local market . As far as Denmark’s concerned, we’re much closer to the Swedish model .

“Taken as a whole, we can confirm that during this “modest year” our turnover might have increased mar-ginally, but the bottom line shows a small negative . Despite this, I feel very satisfied with our work and I’m convinced that our committed, motivated organisa-tion, which is our most important asset, will continue to develop Smarteyes to reach new heights, which is a precondition now that the time’s come to start reaping what we sowed, starting with the next financial year,” concludes Fredrik Wistrand .

26

Söderberg & Haak Maskin AB

MD Thomas Svensson

In terms of turnover, the financial year 2012/2013 was Söderberg & Haak’s third best ever, while in terms of profit it was one of the worst in recent decades . Behind these figures are drops in volume in most market seg-ments, leading to stock adaptations and a strategic focus on market shares for tractors and contracting machinery . The profit figure for the year is also explained by the start of an investment in a new busi-ness system and negative currency effects .

“During the past year, the trend of weak profit-ability continued in the milk production sector . This meant that sales of important product groups such as smaller front loader tractors and harvesters fell signifi-cantly, dropping by almost 50% in two years,” explains Thomas Svensson, MD at Söderberg & Haak . “On the other hand, there was good demand from crop farmers during the year, with increases in sales of combine har-vesters and products for plant support and plant pro-

tection . The tractor market as a whole shrank by 15% during the year, and the market for contracting machin-ery started to decline, with a drop of about 10% during the financial year, a trend that is expected to continue .

“In parallel with this, and as a consequence of it, some S&H resellers in the milk belts have found life very difficult . Söderberg & Haak has offered support in the form of initiatives and activities to boost sales and maintain the distribution network . At the same time, this also means that a significant investment has been made for the future, as it’s definitely more profitable and efficient to support the resellers you already have and to make sure that they survive in the long term and become stronger through the economic cycles .

“It’s been a long, difficult dip for milk producers, but they’re now seeing an upturn . Milk prices are rising, which means that people are more optimistic about the future and expect some recovery as early as this

INVESTMENTS FOR THE FUTUREPRODUCED LIMITED RESULTS

27

autumn . But we probably won’t be seeing a full recov-ery in investments on the harvester side until 2015,” predicts Thomas Svensson .

“All machine logistics, even tractors, are now man-aged entirely in-house, and after a few teething prob-lems it’s become better and better, with everything now fine-tuned . In terms of cost, compared with previous outsourcing concepts there’s a small extra contribution on each tractor sold, and we’re also close to and have better control over stocks .

“Another major internal challenge during the year was and remains the implementation of a new business system . During the first half of the financial year, a care-ful evaluation and analysis of needs were carried out, and it was decided which supplier and which system would be our partner for many years to come . The pro-ject has proceeded during the spring and summer, and according to the schedule it will be launched and fully

functional as from 1 February 2014 . The project will undoubtedly be the biggest internal challenge until the system is operational .

“The investment in contracting machinery and JCB was successful, as there are just as many are farmers who are machine contractors on a part-time basis as work full time in farming . We’re working in a targeted way to expand the pure contracting side, and our resellers now have over ten specialist sellers of contracting machinery . As sales increase, we’re seeing how they’re also employing more engineers and mechanics purely for the contracting side .

“As already mentioned, this year’s profit was less than we’d expected, but we feel that we’ve invested in the future and expect to be able to reap the benefits of these initiatives within the not too distant future,” con-cludes Thomas Svensson .

28

Älvsbyhus AB

“There’s been a sharp drop in the volume of small houses being built . In 2012 the figure fell by around 30% compared with 2011, which was already far too low a level of building,” points out Kent Johansson, MD of Älvsbyhus . “But what’s pleasing nevertheless is that we continue to keep our competitors at bay . It also means that with a market share of 10 .4%, we’re the biggest for the thirteenth year in a row .

“In autumn 2012 we launched our financing package, which is based on offering our customers extended terms of payment on a large proportion of the cost of a new, turnkey house . A way of bridging the gap that can arise between the bank loan and the cash investment . This offer gave us a great deal of coverage in the media and was very successful in PR terms . It also attracted a lot of potential customers who hadn’t believed it possible for them to build their

own house . Despite the high level of interest in the campaign, ultimately we didn’t sell that many houses with the financin g package . Thanks to the existence of the specia l offer, the banks showed a greater interest in taking care of the whole financing process with the customer in question . So even if the financing package didn’t see a major take-up, we estimate that we sold 40-50 more houses because the opportunity for an extended repayment term .

“The market in Sweden is now seeing a modest upturn . It’s been declining for a number of years and we haven’t seen any sign of an upturn until now . We’re getting reports from many parts of the country of more visitors coming to viewings, which is a reliable baromete r of interest and shows which way the econo-my’s heading .

“In Finland too, the overall rate of building has fallen

CAUTIOUS OPTIMISM

MD Kent Johansson

29

and housebuilding is expected to decline, but in spite of this almost 9,000 small houses are being built every year . There’s also more building in Norway than in Sweden . Things are stable there at more than 8,000 houses every year .

“Compare this with Sweden, where although we have twice as many inhabitants we only build 4,000 houses annually .

“Sweden is Älvsbyhus’ best market, but the fact that our neighbouring countries build more means that there’s major potential for us to increase sales in both Finland and Norway . We have well-established sales channels in both countries and are working to increase our market shares there as well .

“The difficult economic climate has of course affected the industry . In Sweden we’ve seen a number of competitors declared bankrupt and others have

carrie d out reconstructions . In this context we’re in the fortunate position of having been able to continue to run all four of our factories . Admittedly this has been in economy mode, as we’re only making five houses a week in each factory, i .e . we’re producing 800 houses per annum . Of these, about half are delivered in Sweden, with the rest more or less evenly divided between Norway and Finland . We’ve also been able in principle to retain the same margin as before .

“We’re working every day to become a little bit better . Efforts that I’m convinced will produce results when the market recovers . As I mentioned earlier, we’ve started to see light at the end of the tunnel with an upturn in demand . Order input during 2013 will exceed the number of houses built . But still far too little for me to be able to feel really satisfied,” concludes Kent Johansson .

30

Excalibur Värdepappersfond AB

“We’re naturally delighted and very proud to have been presented once more with the Hedge Fund of the year award by the financial magazine Privata Affärer during the last financial year,” says Thomas Pohjanen . “We’ve been nominated for the last four years and received the award three times . That feels really good, and of course it’s also one of the reasons why we’re con-stantly receiving more and more capital to manage . Privata Affärer’s explanation was as follows: Favourite yet again . The third title for the low-risk fund that keeps climbing upwards .

“This also contributes to the fact that many new client s are turning to us . Since the last financial year, our managed assets have increased by about 1 .5 bil-lion, which means that we passed five billion during the year . Which we view as something of a milestone .

We’ve increased our managed assets more than seven-fold since we began in 2007 . As recently as five years ago we had just about one billion, while now we manage around 5 .5 billion .

“For many funds, the greater the capital, the more difficult it is to manage effectively . But in our fund, as we’re only working with interest-bearing products in the biggest, most liquid markets, the players involved are so big that we’re still a relatively minor player . We can therefore make our own investments and our own evaluations without our activities affecting the market as a whole .

“Both Björn Suurwee and I have extensive experi-ence and broad competence in our field . Many of the crises and similar events that happen in the world may well have had their equivalents or the like in the past,

HEDGE FUND OF THE YEAR – AGAIN!

MD Thomas Pohjanen

31

but historical facts don’t really mean anything, as there are so many factors that between them influence how the market reacts . The difficult thing at the moment is to evaluate how specific events affect interest rates . But the good thing about our product is that we’re not dependant on a constantly rising market . We can earn money in both upturns and downturns .

“We’re very proud of last year . We delivered what we’d promised to our customers and were able to increase both turnover and our own profit,” emphasises Thomas Pohjanen .

“I think that the future looks bright . The financial year 2013/2014 has started well and we’re convinced that we can reach our targets this year, which means delivering a net return over time of 6–8 per cent for our customers .

“During the year we left our premises on Nybrokajen and moved a few hundred metres towards Stureplan . The shortage of space at our old address had become acute, and we were simply forced to find new, bigger premises .

“At our new address, Birger Jarlsgatan 15, we have much more room to grow, as well as good premises for our staff to do their work in a good, efficient way .

“As the capital invested and with it the number of clients increases, the need for ancillary solutions and service also increases . We now have five full-time employees, and during peak periods we bring in a few extra people, so it really was high time we moved into new premises,” concludes Thomas Pohjanen .

32

BM Agri AB

“In autumn 2012 we had very high cereal prices, which is of course pleasing for growers,” says Matilda von Rosen, MD of BM Agri . “The reason for the high price levels was in the first instance the fact that the USA suffered its worst drought in 50 years, resulting in poor harvests, which in turn pushed up the prices of both cereals and oilseed .

“This means that we at BM Agri had record turnover during the autumn and shattered all previous records, which is incredibly pleasing, even though the profit figure was slightly weaker than the previous year . But we managed to recover that during the first part of 2013 .

“In addition to BM Agri’s business segments, cereals and oilseed, we have a third segment: fertiliser . There’s

been very tough competition on the fertiliser side during the past year . Margins have been forced down to a minimum . But BM Agri does have plans to stay in the fertiliser market in the long term, despite margins currently being under pressure .

“During the year we continued to conduct hedging transactions together with farmers, primarily in the form of our Chance/Risk product . This is a transaction in two stages, where one takes place on the stock exchange and the other with the physical product . The outcome is weighted and a distribution takes place between us and the grower on the basis of the cereal’s reference price .

“The task of acquiring new customers is ongoing .

DROUGHT LED TO RECORD TURNOVER

MD Matilda von Rosen

33

We’re constantly meeting potential customers and put a lot of effort into attending trade fairs and other activi-ties . We need to grow not least in Skåne and Western Sweden . That’s where we can see major potential for the future,” emphasises Matilda von Rosen .

“But we want to do business in a slightly different way . Among other things, our business approach is based on growers making active contact with us when it’s time to do business . We communicate with growers on an ongoing basis via our “Marknadsnytt” [“Market News”] newsletter, which we email out every week and is very popular among growers .

“We want to make business a little bit smarter and more efficient all the time . One example of our

efficienc y is that we don’t have any facilities, but rent them in various places as required, which keeps our costs down and allows us to be flexible, which also benefits growers .

“The future looks good as far as we’re concerned . For one thing, the growers have become aware of guaranteeing their harvest via hedging transactions, and more and more are investing in a drier to enable them to store cereals and oilseed themselves, and then selling them at a time of their choosing in order to get more out of their harvest . This means we’ll have even more farmers to do business with in future!”

34

Meet your future Group AB

“We’ve been told that for the sixth successive year we’re in the Top 20 of Sweden’s fastest-growing com-panies,” says a proud Tobias Lindfors, CEO/MD of the Meet your future Group .

Average annal growth over the last six years has been 40 .18%, and during this time Student Consulting was Sweden’s fastest-growing company three times: in 2008, 2009 and 2012 . In 2010 and 2011, Student Con-sulting came second, and now in 2013 they are once more in the list of Sweden’s fastest-growing companies . In the last ten years, the company has grown from turn-over of SEK 5 .4 million to SEK 660 million, with profit-ability every year . This is a sequence without parallel since Ahrens Rapid Growth started the list in 1993 .

The “Meet your future Group” was launched at the turn of the year 2012/2013 . The name, Meet your future, says it all: customers meet their future employ-

ees and candidates, and job-seekers meet their future employers . In the last year, the Group employed 9,000 and had 95 offices all over Sweden, Norway and Denmar k .

Student Consulting is now a subsidiary of the Meet your future Group, and one of the reasons for the com-pany’s success has been its very specific niche . This is why the Group has expanded further with the subsidiar-ies Professional Consulting and Work Match . The Meet your future Group is the Group company that houses shared functions, while the subsidiaries specialise in their respective markets, matching those looking for jobs with those offering them . The subsidiaries consist of Student Consulting, which specialises in students and young employees, Professional Consulting, which is aimed at young academics, and Work Match, which helps job-seekers of all ages . The combination of staff-

MEET YOUR FUTURE GROUP – GREATER BREADTH WITH A RETAINED FOCUS

MD Tobias Lindfors

35

ing, recruitment and job matching/conversion creates a really good total effect .

“Together, our companies offer services in the areas of recruitment, staffing and job matching aimed at vari-ous target groups, which means that we can now justi-fiably claim to be an even stronger player in the Scandi-navian labour market . We lead the way in each brand, and being part of the Meet your future Group gives us greater breadth . It also makes it easier for us to switch between good times and bad times . In a recession, companies need even more flexibility and demand for job matching/conversion of job-seekers increases, while in boom times they have a greater need to hire and recruit young academics . We’re a staffing part-ner whatever the economic climate, and can switch between flexible staffing, recruitment and job matching/conversion,” says Tobias Lindfors .

“It’s our aim to offer the highest customer value in the industry in terms of creating jobs in both new and traditional sectors in a secure, responsible way . In this respect we benefit from having the industry’s leading IT system, shared support functions and efficient admin-istration . And of course the incredible internal commit-ment that exists internally to create more jobs! We’re trying to supplement the traditional way of working on matching with the electronic way . We give our candi-dates the opportunity to record an electronic video CV of themselves, which is matched on a daily basis . This means, for example, a job-seeker can be sitting up in Luleå and be matched with our job network of custom-ers all over Scandinavia!”

36

Duni AB

“The financial year 2012 was weaker than the previ-ous year for Duni, with poorer profitability, although the company is nevertheless reporting stable cash flow and a strong balance sheet,” says Thomas Gustafsson, who took over the role of MD and CEO of Duni AB at the end of 2012 . “Lower demand in our main markets, an unfavourable currency situation and lower capacity utilisation in the production facilities all mean that both sales and the net profit fell compared with the previous year .”

In the Professional business area, they focused on increasing the use of premium products, which resulted in increased market shares in many markets .

The Consumer business area saw a reduction in turnover compared with the previous year . After a weak start to the year, Consumer won a number of new cus-tomers, which had the effect during the year of gradu-ally improving both product mix and relative profitability .

The Tissue business area started the year with rela-

tively high stock levels, which combined with low sales to have a negative impact on the operating profit . In February 2013, the Board decided to close down the factory unit that manufactures and sells materials aimed at the hygiene sector . Production will continue until April 2014 .

“So far in 2013, Duni has seen growth and an improvement in financial results . Despite a market that remains weak, it’s pleasing that the rate of growth has improved and is exceeding that of the market in gen-eral,” points out Thomas Gustafsson .

“We’ve initiated an organisational change within each category . In order to increase the degree of specialisa-tion and to enhance the focus on prioritised customer segments, the sales organisation is being integrated into each business area . This change creates the condi-tions for more efficient resource utilisation and better integration between marketing and sales activities .

“Song Seng in Singapore was acquired as one stage

WIDE-RANGING CHANGES FORM THE BASIS OF GROWTH

MD Thomas Gustafsson

37

of our increased efforts in growth markets . This com-pany has been successfully purchasing and selling disposable products to the rapidly expanding takeaway market in South East Asia since 1984 . The acquisition lays the foundation for the immediate launch of Duni’s products, while the business itself is both profitable and in a phase of strong growth .

“Evolin® has been on the market for about one year, and in time this material will play an increasingly impor-tant role in our premium range . During the launch year, we’ve made considerable investments in sales and can see different customer segments responding to Evolin in different ways . One of the conclusions is that the catering segment is the channel above all that has seen the benefits of Evolin .

“Three external design partnerships have been launched under the Designs for Duni® concept, a unique concept for Duni and for the industry as a whole . A product range is being launched in Scandinavia, cre-

ated by the Finnish design companies Vallila and Jukka Rintala . A similar partnership has been launched in the rest of Europe with the company behind the Melli Mello brand . These partnerships are unique and of strategic importance for Duni as a brand and a partner to the trade . This activity should be viewed in the first instance as a means of attracting interest in Duni as an innovative player, and not as an activity to boost vol-umes, as distribution is relatively selective .

“Sales in our export markets continue to grow at a double-digit rate . There’s been a lot of focus on the takeover of Song Seng, and the administrative part of the acquisition has been completed . The next stage is to start the launch of Duni’s premium range, and our ambition is to develop the market in the same way as we’ve done previously in Europe,” concludes Thomas Gustafsson, MD and CEO, Duni .

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