January June. Interim Report Positive Trend Affirmed with High Growth and Strong Profit

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1 Interim Report Lynx a compact solution for industrial networks January June Positive Trend Affirmed with High Growth and Strong Profit First Half-year Order intake increased by 11% to (658.1), currency adjusted 18% Net sales up by 23% to (595.4), currency adjusted 29% Operating profit increased by 5% to 81.7 (54.6) Profit after tax up by 44% to 57.4 (39.9) Earnings per share increased by 45% to 2.92 SEK (2.2) Second Quarter Order intake up 15% to 381. (332.8), currency adjusted 22% Net sales increased by 19% to (39.7), currency adjusted 26% Operating profit was 4.6 (31.1), up 31% Stock split creating 12.6 million new stocks, bringing the total to 18.9 million stocks

2 1 January 3 June 211 Interim Report, Beijer Electronics AB Comments from Fredrik Jönsson, CEO Beijer Electronics continued to make strong progress in the second quarter, following the positive pattern from the first quarter. Sales increased by close to 2% in the second quarter, and by 26% currency adjusted. Operating profit increased by just over 3% and the operating margin of 11% exceeded the group s long-term target. Our latest acquisitions, Korenix and QSI, continued to exceed expectations and returned good profitability, while integration proceeded according to plan. The feared disruptions to deliveries resulting from the Japan earthquake have not materialized. The IDC business area returned particularly strong performance in the second quarter following a weaker start to the year. An improved market and a more efficient sales organization resulted in increased orders and sales rose by more that 4% currency adjusted. Organic growth was some 2% currency adjusted. IDC also launched exciting products that link older communications infrastructures with modern IP-technology. We are also seeing that IDC s focus on the US market will begin to yield results towards the end of the year. The Automation business area consolidated the positive trend in the second quarter with rising orders, increased sales and improved profit. Sweden and Finland returned solid growth. Growth in Denmark was lower and growth remained negative in Norway although demand from the marine sector showed signs of recovery. Automation also focused on bigger OEM customers which resulted in a number of new deals. The HMI Products business area returned solid progress in the second quarter with sales growth of 24% while profit increased by 55%, resulting in an operating margin of over 15%. Recent acquisition QSI made a good contribution to sales and profit. However, organic order intake was weaker in the second quarter mainly depending on currency effects and inventories adjustments by some distributors. The business area also successfully launched new operator terminals. Markets and Surrounding World The industrial automation market continued its stable, positive trend in the second quarter. Particularly strong growth on markets in Asia and the US also continued at approximately the same pace as in the first quarter. The Group in the Second Quarter The group returned sustained high growth in the second quarter. Order intake increased 15% to 381. (332.8). Acquisitions made a positive contribution of 58.6 (). Adjusted for sharply negative exchange rate fluctuations, order intake increased by 22% and by 3% excluding acquisitions. The IDC business area returned significant organic order growth. Automation saw particularly strong organic growth while HMI Products experienced a fall. Business Area Sales and Operating Profit Sales Operating Profit Sales Operating Profit Quarter 2 Quarter 2 6 months 6 months Beijer Electronics Automation Group Beijer Electronics Products Group Westermo Teleindustri Group Intra-group sales Group adjustments and depreciation Beijer Electronics Group Beijer Electronics 211

3 Group sales increased by 19% to (39.7). Acquisitions had a positive effect of 5.8 (). Currency adjusted, sales increased by 26% and by 8% excluding acquisitions. Sales in Sweden, the group s single biggest market, increased by more than 1%. The increase in Denmark and Finland was good while sales fell in Norway. In China and the rest of Asia sales grew very strongly, as in the US. Germany continued to expand while the UK and France made weak progress. Group operating profit increased by 31% to 4.6 (31.1). This corresponded to an operating margin of 11.% (1.). Acquisitions made a 6.1 profit contribution. Excluding acquisitions profit grew by 16%. The sharp increase is attributable to rising sales volumes, a higher gross margin and continued good control over overheads. Total development expenses were 28.5 (18.9). The increase is due to acquisitions and product development initiatives. Profit before tax increased by 1% to 36.6 (33.2). Net financial items were -4. (2.1). The negative figure is attributable to higher indebtedness in connection with the acquisitions and the inclusion of a positive profit contribution from the divestment of Autic in 21 net financial items. Profit after estimated tax grew by 21% to 29. (23.9). Earnings per share after estimated tax were 1.47 SEK (1.19). The Group in the First Half-year Order intake increased by 11% to (658.1) in the six-month period. Currency adjusted, the increase was 18%. Acquisitions contributed 13.. Group sales rose by 23% to (595.4). Currency adjusted, growth was 29%. Acquisitions had a 96.2 positive effect on sales. Operating profit increased by 5% to 81.7 (54.6). This generated an operating margin of 11.2% (9.2). Acquisitions made a 1.5 profit contribution. Excluding acquisitions profit increased by 37%. The sharp increase is explained by rising sales volumes, a higher gross margin and sustained firm control of overheads. Total development expenses were 52.8 (37.4). Profit before tax increased by 33% to 73.6 (55.4). Net financial items were -8.2 (.8). Profit after estimated tax rose by 44% to 57.4 (39.9). Earnings per share after estimated tax were 2.92 SEK (2.2). Group Sales Group Operating Profit Quarter Rolling four quarters Quarter Rolling four quarters The bars and left-hand scale indicate quarterly sales. The blue curve and right-hand scale show rolling four quarter sales. The bars and left-hand scale indicate quarterly profit after depreciation. The curve and right-hand scale show rolling four quarter profit after depreciation. Beijer Electronics 211 3

4 1 January 3 June 211 HMI Products Business Area The HMI Products business area made good progress and profit continued to improve sharply in the second quarter. US company QSI, which was consolidated from November 1, 21 returned convincing and significant profit growth. However, the business area s order intake was down somewhat in the second quarter, due to currency effects and inventories adjustments by some distributors. The Second Quarter Order intake rose by 8% to (152.). Currency adjusted, the increase was 19% and excluding acquisitions order intake decreased by 12%. Sales grew by 24% to (131.1) of which QSI provided 33.. Operating profit increased by 55% to 25.1 (16.2). Operating margin was 15.4% (12.4). QSI made a 3.1 profit contribution. First Half-year Order intake climbed by 17% to (285.1). Currency adjusted, the increase was 25% and order intake fell by 2% excluding acquisitions. Sales increased by 31% to (256.) and by 39% currency adjusted. QSI made a positive sales contribution of Operating profit rose by 66% to 52.9 (31.9), corresponding to a margin of 15.8% (12.5). QSI made a 6.3 profit contribution. Sales, HMI Products Sales by Sales Channel, HMI Products 21 Quarter Rolling four quarters 7 Rest of world 1% (2) 18 6 Other Europe 6% (1) 15 5 Other Asia 15% (17) North America 28% (13) China 14% (14) Sweden 16% (18) Germany 2% (26) The bars and left-hand scale indicate quarterly sales. The curve and right-hand scale show rolling four quarter sales. Sales by geographical market for the first half-year of 211 compared to Beijer Electronics 211

5 Automation Business Area The automation market in the Nordic region experienced a stable improvement in demand. The trend was particularly positive in Sweden and Finland while the marine sector in Norway showed signs of recovery. The action plan initiated in the fourth quarter 21 was effective as all Nordic markets returned positive profit in the second quarter. First Half-year Order intake increased by 5% to (248.2). Currency adjusted, the increase was 9%. Sales grew by 7% to (239.3) and currency adjusted, sales were up 12%. Operating profit increased by 44% to 18.7 (13.), corresponding to a margin of 7.3% (5.4). The Second Quarter The business area s order intake increased by 4% to 132. (126.8). Currency adjusted, the increase was 8%. Sales grew by 7% to (122.9) and 11% currency adjusted. Operating profit was 9.2 (8.4), corresponding to an operating margin of 7.% (6.8). Sales, Automation Sales by Product Category, Automation 21 Quarter Rolling four quarters 7 Rest of world 3% (2) Baltics % (2) Finland % (11) 12 4 Denmark 16% (16) Sweden 46% (44) Norway 2% (25) The bars and left-hand scale indicate quarterly sales. The curve and right-hand scale show rolling four quarter sales. Sales by geographical market for the first half-year of 211 compared to 21. Beijer Electronics 211 5

6 1 January 3 June 211 Industrial Data Communication The IDC business area returned sharply higher growth in the second quarter following a subdued start to the year. The acquisition of Korenix of Taiwan continued to progress well with strong sales gains and healthy profitability. The initiatives on the US market are proceeding as planned. The Second Quarter Business area order intake increased by 37% to 15.5 (77.3). Currency adjusted, the increase was 41% and 21% excluding acquisitions. Sales increased by 38% to 11.1 (73.3) and rose by 43% currency adjusted. Korenix made a 17.8 sales contribution. Operating profit increased by 2% to 11.9 (1.). Operating margin was 11.8% (13.6). Major investments in sales expansion and product development were charged to profit for the quarter. Korenix had a 3. positive profit impact. First Half-year Order intake increased by 19% to (159.4). The increase was 23% currency adjusted and 4% excluding acquisitions. Sales increased by 32% to (139.8) and by 37% currency adjusted. Acquisitions made a 31.7 sales contribution. Operating profit rose by 16% to 18.3 (15.8), corresponding to a margin of 9.9% (11.3). Korenix had a positive profit impact of 4.2. Sales, IDC Sales by Product Segment, IDC 1 8 Quarter Rolling four quarters North America 4% (3) Rest of world 7% (3) Other Europe France 21% (27) 6% (9) 6 21 Asia 12% (2) 4 14 UK 12% (18) Sweden 22% (23) Germany % (15) The bars and left-hand scale indicate quarterly sales. The curve and right-hand scale show rolling four quarter sales. Sales by geographical market for the first half-year of 211 compared to Beijer Electronics 211

7 Other Financial Information Group investments including capitalized development expenses were 33.6 (13.6). Cash flow from operating activities was 19.7 (25.6). Equity was (34.2) on June 3, 211. The equity ratio was 27.3% (33.3). Cash and cash equivalents were 15.2 (11.7). Interest-bearing liabilities were 544. (352.5). The average number of employees was 681 (519). Prospects for 211 The second quarter continued to progress well with sharply increased sales and significantly higher profit. Most commentators foresee continued strong growth in the global economy during the year. If the macroeconomic forecasts are realized, Beijer Electronics expects to return substantial growth and improved profit for the full year 211. Significant Events In March 211 Beijer Electronics acquired the remaining 8% in Korenix of Taiwan and subsequently holds 1% of the company. The acquisition has been effected progressively with 37% acquired in July 21 and 55% in December 21. Korenix was consolidated into Beijer Electronics accounts at year-end 21. The total purchase price is estimated at approximately 13 for all the shares of Korenix. An additional performance-related supplementary purchase price may be payable on the basis of 212 profit figures. Beijer Electronics effected a (3:1) stock split in June 211. Each existing stock was split into three stocks of the same class, implying an increase in the number of stocks from 6,311,488 to 18,934,464. Risk Management Beijer Electronics is exposed to a number of risks and uncertainty factors, reviewed in the Annual Report for 21. No significant risks are judged to have arisen over and above those reviewed in Prospects for 211 in the Annual Report as of 3 June. Accounting Principles This Interim Report has been prepared pursuant to IAS 34 Interim Financial Reporting and the Swedish Annual Accounts Act. The accounting principles applied are consistent with those used when preparing the latest Annual Report. Revised lifespan assumptions under IAS 19 The Swedish Pensions Registration Institute (PRI) nonprofit association revised the lifespan assumptions used when calculating pension liabilities on 3 June. The effects of this change are dealt with as an actuarial loss and will be distributed over a period of time by making use of the corridor described in IAS 19 and need not be recognized in profit for 211. This Report has not been subject to review by the company s Auditors. The Board of Directors and Chief Executive Officer certify that the Interim Report gives a true and fair overview of the company s, and where applicable, the group s financial position and results of operations and profit and that it states the significant risks and uncertainty factors affecting the company and companies within the group. Malmö, Sweden, July 15, 211 The Board of Directors For more information, please contact: CEO and President Fredrik Jönsson at: +46 () or +46 () or CFO Lennart Mauritzson at: +46 () , +46 () Anders Ilstam Chairman of the Board Bert Åke Eriksson Board member Kjell Åkesson Board member Maria Khorsand Board member Stig-Arne Blom Board member Ulrika Hagdahl Board member Fredrik Jönsson Board member CEO Beijer Electronics 211 7

8 Interim Report in Summary Income Statement Group SEK Quarter 2, 211 Quarter 2, 21 6 Mth., Mth., 21 Full Year, 21 Net turnover 367,883 39, , ,399 1,232,321 Other operating revenue a 1,332-4,23 a 3,445 a,b Operating expenses -327,96-277, , ,57-1,111,444 Operating profit 4,581 31,98 81,77 54, ,322 c Net financial items -4,16 2,91 d -8, d -4,31 d Profit before tax 36,565 33,189 73,55 55,383 12,21 Estimated tax -7,56-9,297-16,112-15,57-3,534 Net profit 29,5 23,892 57,438 39,876 89,487 Attributable to equity holders of the parent 27,886 22,567 55,254 38,158 87,358 Attributable to minority interest 1,119 1,325 2,184 1,718 2,129 Earnings per share, SEK e a Including minority interest of Autic b Including minority interest of Korenix c Including non-recurring items amounting to -1.7 msek d Including capital gain from disposal of minority interest in Autic amounting to 2.6 e The number of shares in the company has increased as a result of a new stock issue of 9, shares and by a 3:1 split, now totaling 18,934,464 (6,221,488). Earnings per share for earlier periods have been adjusted st ( ). Statement of Comprehensive Income SEK Quarter 2, 211 Quarter 2, 21 6 Mth., Mth., 21 Full Year, 21 Net profit 29,5 23,892 57,438 39,876 89,487 Translation differences 11,729 1,96-8,981-4,511-2,553 Comprehensive income 4,734 25,798 48,457 35,365 68,934 Attributable to equity holders of the parent 39,656 24,69 46,993 34,285 67,859 Attributable to minority interest 1,78 1,18 1,464 1,8 1,75 Balance Sheet Group SEK Jun 3, 211 Jun 3, 21 Dec 31, 21 Assets Fixed assets 78,53 482, ,289 Current assets 58, ,6 458,981 Cash equivalents and short-term investments 15,223 11,748 15,64 Total assets 1,394, 961,689 1,342,334 Liabilities and shareholders equity Shareholders equity 363,188 34, ,729 Minority share of shareholders equity 17,725 16,136 27,64 Long-term liabilities 626, ,196 6,227 Current liabilities 386, ,22 376,738 Total liabilities and shareholders equity 1,394, 961,689 1,342,334 Of which interest-bearing liabilities 544,18 352, ,112 8 Beijer Electronics 211

9 Statement of Changes to Shareholders Equity Group SEK Jun 3, 211 Jun 3, 21 Dec 31, 21 Attributable to equity holders of the parent Opening balance, shareholders equity, 1 January 337, , ,756 Other paid-up capital 15,75 New stock issue 9 Dividend -37,329-24,886-24,886 Comprehensive income 46,993 34,285 67,859 Closing balance, shareholders equity 363,188 34, ,729 Minority interest Opening balance, 1 January 27,64 15,56 15,56 Acquisitions -11,379 11,948 Dividend -439 Comprehensive income 1,464 1,8 1,75 Closing balance 17,725 16,136 27,64 Key Figures SEK Jun 3, 211 Jun 3, 21 Dec 31, 21 Operating margin, % Operating margin excl. one time effect Profit margin, % Equity ratio, % Shareholders equity per share, SEK Earnings per share, SEK Rolling 12-months earnings per share Return on equity after tax, % Return on capital employed, % Return on net operating assets, % Average number of employees Number of shares 18,934,464 Cash Flow Statement Group SEK Jun 3, 211 Jun 3, 21 Dec 31, 21 Cash flow from operating activities before changes in working capital 82,673 56, ,559 Change in working capital -62,946-31,275-21,485 Cash flow from operating activities 19,727 25,6 114,74 Cash flow from investing activities -79,375-13,629-25,744 Cash flow from finance activities 98,24-2,454 11,649 Dividends paid -37,329-24,886-25,325 Change in cash equivalents 1,227-15,369-15,346 Cash equivalents and short-term investments, opening balance 15,64 127, ,439 Exchange rate change, cash equivalents -1,68-1,322-7,29 Cash equivalents and short-term investments, closing balance 15,223 11,748 15,64 Beijer Electronics 211 9

10 Operating Segments SEK Quarter 2, 211 Quarter 2, 21 6 Mth., Mth., 21 Full Year, 21 Net turnover Automation 131, , , , ,872 HMI Products 162,24 131, , , ,715 IDC 11,143 73, , , ,379 Elimination -26,648-17,73-47,33-39,769-79,645 Group 367,883 39, , ,399 1,232,321 Operating profit Automation 9,182 8,416 18,67 12,955 19,412* HMI Products 25,58 16,23 52,889 31,939 85,331* IDC 11,949 9,995 18,249 15,798 34,45** Parent company ,337-1,671-1,697-5,78 Group adjustments and depreciation -4,662-2,179-6,43-4,369-7,77 Non-recurring items -1,681 Group 4,581 31,98 81,77 54, ,322 * Excluding non-recurring items ** Including minority interest Korenix Income Statement Parent Company SEK Quarter 2, 211 Quarter 2, 21 6 Mth., Mth., 21 Full Year, 21 Net turnover 13,887 13,39 27,585 26,43 52,268 Operating expenses -14,833-14,376-29,256-27,74-57,346 Operating profit ,337-1,671-1,697-5,78 Net financial items 33,373 14,78 23,766 1,64 13,972 Profit before tax 32,427 12,741 22,95 8,367 8,894 Appropriations 7,222 Estimated tax ,383 2,533 2,533 1,966 Net profit 32,243 14,124 24,628 1,9 18,82 * Of which dividends from subsidiaries Balance Sheet Parent Company SEK Jun 3, 211 Jun 3, 21 Dec 31, 21 Assets Fixed assets 594,963 42, ,298 Current assets 67,297 29,997 16,733 Cash equivalents and short-term investments ,285 Total assets 662,379 45, ,316 Liabilities and shareholders equity Shareholders equity 58,918 47,662 54,844 Untaxed reserves 21,89 29,112 21,89 Long-term liabilities 393, , ,81 Current liabilities 187,715 89, ,772 Total liabilities and shareholders equity 662,379 45, ,316 Of which interest-bearing liabilities 516, , ,471 1 Beijer Electronics 211

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12 Beijer Electronics AB Beijer Electronics is a fast-growing technology company active in industrial automation and data communications. The company develops and markets products and solutions that focus on the user. Since its start-up in 1981, Beijer Electronics has evolved into a multinational group present in 16 countries. The company is listed on NASDAQ OMX Nordic Exchange Small Cap list under the ticker BELE. More Information You can subscribe for financial information on Beijer Electronics via . Subscribe easily at our website, If you have any questions about the Beijer Electronics group, please call +46 () , or send an info@beijerelectronics.se. Financial Calendar October 25, Nine-month Interim Report February 9, Financial Statement Lynx a compact solution for industrial networks Lynx is the market s most compact and energy-efficient Ethernet-switch for industrial use. The switch is powered by the Westermo WeOS operating system, enabling customers to independently determine functionality. Lynx with WeOS solves a range of problems from users day-to-day needs to advanced routing and security for complex networks. Read more about the Lynx series at Head office Beijer Electronics AB (publ) Box 426, Krangatan 4a Malmö, Sweden Corp. ID no ()4 3586