NOBINA'S SECOND QUARTER - UNDERLYING PROFIT INCREASED BY 23 PER CENT

THE SECOND QUARTER

• Record sales and earnings for a second quarter, before IPO-related costs. Extra traffic and successful traffic starts contributed positively.
• Net sales increased by 9.2 per cent to a record SEK 1,982 million (1,815).
• Adjusted operating profit increased by 23 per cent to SEK 137 million (111) before IPO costs of SEK 112 million1). Operating profit was SEK 25 million (111) after IPO costs.
• Adjusted earnings before tax (EBT) increased by 52 per cent to SEK 93 million (61) before IPO costs and costs for bond loan redemption amounting to SEK 205 million1).  
• Earnings per share amounted to SEK –0.86 SEK (0.81).
• Adjusted cash flow from the operations was SEK –78 million (–107).

HALF-YEAR PERIOD 1 MARCH 2015 – 31 AUGUST 2015

• Record sales and earnings for the first six months, before IPO costs.
• Net sales increased by 7.5 per cent to SEK 3,977 million (3,701).
• Adjusted operating profit rose by 43 per cent to SEK 243 million (170) before IPO costs of SEK 204 million 1). Operating profit was SEK 39 million (170) after IPO costs.
• Adjusted earnings before tax (EBT) amounted to SEK 154 million (45) before IPO costs and costs for bond redemption amounting to SEK 297 million1).  
• Earnings per share amounted to SEK –1.43 (0.44).  
• Adjusted cash flow from the operations was SEK – 97 million (–220).

IMPORTANT EVENTS IN THE SECOND QUARTER

• Well implemented traffic starts in Södertörn Stockholm (Sweden), Follo (Norway) and Helsinki (Finland), totally involving more than 400 buses.
• Nobina AB was listed on Nasdaq Stockholm. All listing costs have now been charged and the result was in accordance with the prospectus.  
• On 11 August 2015, Nobina redeemed all outstanding bond loans.

IMPORTANT EVENTS SINCE THE END OF THE PERIOD

• Nobina won a bus contract in Norrköping worth close to SEK 400 million over a six-year period.  

CEO’S COMMENTS

Nobina reports record sales and earnings for a second quarter and first six months, before costs for the IPO. Revenues from extra traffic as well as lower than expected costs for the implementation of traffic starts contributed to the positive development.

The second quarter was characterised by the three successful traffic starts in Södertörn, Follo and Helsinki involving more than 400 buses. It is good to note that our careful preparations during the past year have resulted in all traffic starts going well.

On 11 August we redeemed our bond loan using part of the issue proceeds raised in connection with the IPO. This means a reduction of SEK 550 million in our debt and that our annual interest costs will be reduced by SEK 44 million. It also means that we have improved our equity ratio to 14.1 per cent from 4.2 per cent, which was also an important objective for us.

As the bond loan has been redeemed, there are no restrictions on implementing our stated dividend policy. I look forward to pay our first dividend in line with our communicated dividend target.

Ragnar Norbäck,
President and CEO

Nobina AB (publ) discloses the information provided herein pursuant to the Securities Market Act and/or the Financial Instruments Trading Act. The information was submitted for publication at 8 a.m. CET on Wednesday, 30 September 2015.