1. Welcome to AQ Group Year-end and fourth quarter 2016 Claes Mellgren
Mia Tomczak

2. AQ Group Business Concept
To develop, manufacture and assemble components and systems for demanding industrial customers
With our commitment to Total Quality our customers become long-term partners

3. Goals Product quality 100 % On time delivery 98 %
Equity ratio >40 %
Profit margin before tax (EBT %) 8 %

4. AQ Group 2016 Operations 3 289 MSEK in 12 employees 2016 countries
5 163
employees
Nasdaq
Mid Cap
since
January 16,
2017
89 consecutive quaters with profit
Sales in 50
countries

5. AQ Group Global Presence
Europe
4371
Suzhou, China
Mexico City, Mexico
Pune, India
498 people
127
134
Bangkok, Thailand 20
Total: employees

6. AQ Group Europe - Employees
Estonia
Sweden
349
1 005
Lithuania
688
Poland
873
Hungary
447
Serbia 17
Italy 24
Bulgaria
981

7. Seven Business Areas Sheet Metal Processing Injection Molding
Inductive Components
Electrical Cabinets
Wiring Systems
System Products
Special Technologies & Eng.

8. Market segments and (%) of sales 2016
Transportation
Electric (8)
Telecom (8)
Automotive (22)
Power
General Industry & Engineering (26)
Commercial Vehicles (19)
Automation
Food & Drugs (8)
Railway (9)

9. Customers

10. Continuous growth and profitability since the start

11. Full year 2016
Net sales increased by 12 % to SEK million (2 931)
EBT inreased by 32 % to SEK 279 million (212)
Profit margin before tax (EBT) 8.5 % (7.2)
Cash flow from operating activities increased by 77 % to
SEK 290 million (166)
Net debt SEK 109 million (145)
Equity ratio 60 % (58)
Return on equity after tax 17.9 % (15.3)
The Board of Directors proposes a dividend of SEK 2.75 (2.25)

12. Fourth quarter, 2016
Net sales increased by 13% to SEK 905 million (803)
EBT increased by 9% to SEK 60 million (55)
Profit margin before tax (EBT) 6.6 % (6.8)
Cash flow from operating activities increased by 57% to SEK 55 million (35)

13. 2016 Summary
A couple of the Swedish operations have challenges – actions is ongoing to reverse the trend
First half-year – many projects with high margins
Raw material prices increased at the end of the year
Weaker sales at the end of the year to certain customer categories in Sweden
Acquisition of Gerdins – the largest so far. (SEK 430 million, 450 employees)

14. Income statement in summary
MSEK
Q4 2016
Q4 2015 %
2016
2015
Net sales
905
803
12.6
3 289
2 932
12.2
EBIT 60 55
8,7
281
202
39.4
EBIT (%)
6.6
6.0
8.6
6.9
Net finance
- 0
- 2 10
EBT
8,9
279
212
3.9
EBT (%)
6.8
8.5
7.2
Taxes
- 8
- 11
-25,5 44 41
5.8
Profit for the period 51 43
17,8
236
170
38.3
EAT (%)
5.7
5.4

15. Growth in % Growth Q4 2016 Growth FY 2016 TOTAL Organic Acq Curr TOTAL
Currency

16. Balance sheet MSEK 31 Dec 2016 (%) 31 Dec 2015 Intangible fix assets
233 34
173
Tangible fix assets
508 23
412
Inventories
581 20
485
Receivables
965 18
818
Cash
163
136
TOTAL ASSETS
2 450 21
2 024
Equity
1 463 25
1 170
Interest bearing liabilities
272
- 3
281
Non interest bearing liabilities
715
574
TOT EQ AND LIABILITIES

17. Cash flow in summary MSEK 31 Dec 2016 31 Dec 2015 Cash flow from:
Operating activities before change in working capital
396
246
- Changes in working capital
-106
-81
-operating activities
290
166
-Investing activities
-183
-268
Financial activities
-84 94
Net cash flow 23 -8

18. Outlook Strong growth in India but low margin Growth in Mexico
Continue gaining market shares
Entering new markets
Continue to acquire interesting companies
Finalize the integration of former Gerdins
Improve performance in the Swedish companies

19. We have a long term view and commitment
We are striving to become a true global contract manufacturer with:
Quality
on time delivery
alertness and service
We continuously work to improve
We run a responsible and sustainable business
We are financially strong

20. Thank you – welcome with questions!