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The ÅF-Group

The ÅF-Group. Jonas Wiström, President & CEO. CMD, September 29th 2005. Agenda. New ÅF Financials Market challenges & Strategy. Our Mission. We make our client’s businesses…. …more profitable. …environmentally adapted. …and safer. Listed technical consultants. Company. Sales (MSEK).

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The ÅF-Group

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  1. The ÅF-Group Jonas Wiström, President & CEO CMD, September 29th 2005

  2. Agenda • New ÅF • Financials • Market challenges & Strategy

  3. Our Mission We make our client’s businesses… …more profitable …environmentally adapted …and safer

  4. Listed technical consultants Company Sales (MSEK) Employees WS ATKINS plc (GB) 13,086 14,000 ALTRAN GROUP (FR) 12,443 17,000 ARCADIS (NL) 7,671 8,827 FUGRO (NL) 7,574 7,160 GRONTMIJ (NL) 4,615 4,010 WSP Group (GB) 3,944 4,970 JAKKO PÖYRY Group (FI) 3,754 4,697 MOUCHEL PARKMAN (GB) 3,619 4,312 SWECO (SE) 3,141 3,445 Alten Group (FR) 2,675 4,180 ÅF (SE) 2,160 2,531 BERTRANDT (DE) 2,008 3,027 RICARDO (GB) 1,947 1,580 HYDER CONSULTING (GB) 1,614 2,671 RÜCKER (DE) 1,361 1,922 WHITE YOUNG GREEN(GB) 1,202 1,420 SEMCON (SE) 1,199 1,504 WATERMAN Group (GB) 869 1,140

  5. ÅF world wide Own offices Assignments after 2003

  6. The previous ÅF 6

  7. The new ÅF in brief Division Expertise Solutions for construction and property management industries. Infrastructure projects. Solutions for pulp and paper industry, energy and environment, industrial automation etc. Product development, business support and shared processes systems, IT services. Inspection, testing and certification. Training and advisory services, risk analysis, CE marking etc. Sales Employees Total MSEK 2,308 2,489

  8. Financials

  9. Profit/loss per quarter after net financial items and rolling 12-month figures in millions of SEK

  10. Sensitivity analysis

  11. 74 June June June 72 June June 70 June 68 66 64 J J J J J A A A A A A O O O O O J 00 J 01 J 02 J 03 J 04 J 05 Capacity utilisation(invoiced-time ratio) 2000-2005

  12. Financial Summary * As proposed by Board of Directors to the Annual General Meeting

  13. Balance sheet 30 June 2005(in millions of SEK) (adjusted: after divestment of HQ) 31/12 31/12 Liabilities Assets 2004 2004 108 Intangible assets 118 Equity 551 387 131 Building and land 0 Minority shareholdings 2 4 157 Accounts payable, incl. accruals 177 Equipment 95 95 195 Payroll-related liabilities 216 96 Accounts receivable, incl. uninvoiced 663 694 Advance payments from customers 31 175 Cash and bank 375 Interest-bearing liabilities 272 313 99 Other receivables 115 Other liabilities 117 150 Total assets Total equity and liabilities 1,302 1,366 1,302 1,366 Equity/assets ratio 40,3% 30.0%

  14. Division – Infrastructure • Our offer: Consulting services, methods and solutions, ensuring optimum function in the socio-economic and industrial infrastructure • Objectives: Become a leading player in the Nordic market in all our business areas • Strategy: Offer outsourcing possibilities, enter into closer alliances and partnerships with clients • Business areas: Installations, Roads & Railways, Telecommunications and Electrical Power Systems

  15. Division – Infrastructure • Trends: Strong demand in road and railway due to public cash injections, recovery in telecom and installations. Consolidation, increasing international competition • Clients include: • Main competitors: Carl Bro, Ramböll, SWECO, WSP

  16. Division – Process • Our offer: Consulting services throughout the entire project chain, to the pulp & paper industry, energy intensive industries and others such as pharmaceutical, food and automotive industries • Objectives: Become a market leader in our sectors. Today a global leader in pulp & paper, energy and automation • Strategy: Increase local presence internationally such as Brazil, Poland, Russia, the Czech republic and South Africa

  17. Division – Process • Trends: Strong demand in pulp & paper in South America and Asia. Postponed investments in Finland. Recovery in energy intensive sector. Demand related to the general economic growth • Clients include: • Main competitors: Jaakko Pöyry internationally. Local niche consultants

  18. Division – System • Our offer: Product development, business support and shared processes systems and IT services • Objectives: Improve profitability, become # 1 or 2 in segments in which the division operates in Sweden • Strategy: Taking on large assignments in growing from today’s 275 emloyees to in the longer term 1,000 • Business areas: Embedded System, Mechanical Engineering, IT-Solution

  19. Division – System • Trends: Slightly growing assignments during 2005 but market still characterized by overcapacity and price pressure. Globally continuing outsourcing to lowcost countries • Clients include: • Main competitors: Cap Gemini, HiQ, Epsilon, IFS, Intentia, Teleca, Tieto Enator, Sigma, Semcon, WM-Data

  20. Subsidiary – Kontroll/ Inspection & Testing • Our offer: Inspection, testing, calculation, certification and training services • Objectives: Remain a strong player in the Nordic market for technical inspections • Strategy: Be a strong player and the main driving force in the Nordic market. International expansion through collaborations with other accredited inspection firms

  21. Subsidiary – Kontroll/ Inspection & Testing • Trends: One out of two market dominants in Sweden,deregulated in 1995. Further deregulation is to be expected in the rest of Europe. Ongoing consolidation process • Clients include: • Main competitors: Det Norska Veritas, Force Technology

  22. Globalisation

  23. Our clients in industry are transferring investments outside Western Europe Production – development How does this affect ÅF ? Growth outside Western Europe Globalisation (1)

  24. Globalisation (2) Low-price competition from India, the Baltic states, China How does this affect ÅF? • Growth in Poland, the Baltic states and the Czech Republic. • Establishing a presence in South America and Asia • Cost is rapidly gaining in importance

  25. Globalisation (3) Consolidationamong our clients Consolidation within our own operations => ÅF must grow

  26. Our Vision • Profitability target of SEK 100,000/employee and year • Grow sales to MSEK 5,000 by 2010 • Become # 1 or 2 in each market in our fields of expertise • Being the spearhead in the technical consulting industry by introducing methods giving the concept “value added” a new dimension to our clients

  27. M & A Strategy • Infrastructure: Nordic and Baltic RegionSize: 5-800 employees • Process: Eastern Europe, South America, AsiaSize: 5-200 employees • System: Sweden, FinlandSize: 5-500 employees • ÅF-Kontroll: Nordic and Baltic RegionSize: 5-100 employees

  28. A strong brand Market image;The survey is based on replies from 610 randomly selected decision-makers in companies with over 50 employees.

  29. Agenda 2005 • Improved profitability • Top-line growth • Stability and profitability for Systems Division

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