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Share 2016-09-27 10:31 RATOS B 39.86 SEK

SB Seating refinancing - releases about SEK 305m to Ratos

2011-12-22

This information is disclosed in accordance with the Securities Markets Act, the Financial Instruments Trading Act or demands made in the exchange rules.

Ratos subsidiary SB Seating has decided to carry out a refinancing of NOK 250m, and in connection thereof make a cash payment of NOK 273m (approx. SEK 315m) to the owners whereby Ratos will receive approximately SEK 305m. The refinancing has been made possible by the company's favourable development and cash flow in recent years.

SB Seating develops and produces ergonomic office chairs in Scandinavian design for private and public environments. The group markets three strong brands, HÅG, RH and RBM, which are mainly sold through retail outlets. The group is represented today in Norway, Sweden, Denmark, Germany, the UK, Benelux and France.

Ratos's CEO, Arne Karlsson, comments: "Since Ratos's acquisition in 2007, SB Seating has completed a large number of improvement projects and the company has enjoyed commercial success with new products and increased market shares. Operating profit today is higher than it was in 2007 despite a 17% decline in sales due to the weak macroeconomic development. We are able to carry out this refinancing due to good cash flows, a strong balance sheet and continued good future prospects."

In connection with the refinancing SB Seating will carry out a cash payment of NOK 273m to the owners whereby Ratos will receive NOK 264m (approximately SEK 305m), of which approximately NOK 220m will be paid in December and NOK 44m in March. The refinancing will not affect Ratos's earnings. Ratos's holding in SB Seating amounts to 85%.

For further information, please contact:
Arne Karlsson, CEO, +46 703 79 79 79
Emma Rheborg, Head of Corporate Communications and IR, +46 8 700 17 20