Ratos

Inwido to be listed in September - Seite 2

"During our ten years as owners, Inwido has gone from being the leading window and door manufacturer in Sweden, to become leading in Europe. Over the last couple of years many significant improvement initiatives have been completed to strengthen profitability and efficiency. Now that Inwido enters its next phase, where the effects of the initiatives will be fully leveraged, it is our, and the Company's, belief that it is a suitable time to list the Company and thereby increase the visibility of Inwido and its brands in their continued journey."

Håkan Jeppsson, President and CEO of Inwido:

"A listing fits well in to the phase where we currently find ourselves. We are a profitable, market leader looking forward to develop further, now in a listed environment.

"We believe we are well prepared for an upturn in the markets. We are currently the largest window player in Europe, with several well-recognised, local brands in our portfolio. We are also beginning to see the first results from the significant improvement initiatives to streamline production, develop product platforms and improve processes."

Arne Frank, Chairman of the Board of Directors of Inwido:

"It is time for Inwido to perform in a listed environment. CEO Håkan Jeppsson and his team have both the capabilities and experience from public markets to complete the next stage in the business plan. The plan is focused on continuous improvements of the operations and continued growth on the strong home markets in the Nordics and selected European markets."

Financial effects for Ratos

Ratos's exit gain in connection with the listing day is, calculated at the midpoint of the price interval, expected to amount to approximately SEK 1,180m. As Inwido will, following the completion of the transaction, change from a subsidiary to an associate company, Ratos must, according to IFRS, revalue the entire holding to fair value, based on the listing price. The exit gain is therefore based on the realised value of sold shares and on the appreciation in value in connection with the revaluation of the shares retained. The final exit gain will, among others, be affected by Ratos's profit share from Inwido during the time period leading up to the listing. Ratos has invested (net) approximately SEK 1,125m in Inwido and, calculated at the midpoint of the price interval, the average annual return (IRR) amounts to approximately 15%. Ratos has received approximately 3.3 times the investment.