Q2 and half-year results presentation.

1. 17 July 2014
Transcom
Second quarter 2014 results presentation
Johan Eriksson, President & CEO
Pär Christiansen, CFO
Outstanding
Customer
Experience

2. Transcom at a glance
1

3. 3
• A global customer experience
specialist...
• ...providing outsourced
customer care, sales,
technical support, and
collections services...
• ...through an extensive
network of contact centers
and work-at-home agents
Transcom’s business is to
help make sure that our
clients’ customers form
positive perceptions of their
interactions with them.
”
What is Transcom?

4. 4
Transcom in numbers
• 29,000 people…
• …representing more than 100 nationalities
• 57 contact centers, onshore, off-shore and
near shore…
• …in 24 countries
• Delivering services in 33 languages...
• ...to over 400 clients in various industry verticals
• €653.2 million revenue in 2013
• Market cap: SEK 1,650.3 million as at June 30, 2014. Listed on NASDAQ OMX Stockholm
(TWW SDB B and TWW SDB A)

5. A global player serving clients in many industries
5
North Europe
Iberia &
Latam
North
America &
Asia
Pacific
Central & South
Europe
CMS
32%
25%
20%
19%
4%
Communi-
cations
Financial
Services
Retail
Public Sector
Services
61%
14%
6%
4%
7%
4%
Healthcare
3%
Other
Business mix
By region By industry

6. We have an extensive global footprint
Domestic markets
 Austria
 Netherlands
 Slovakia
 UK
 Germany
 Norway
 Spain
 Australia
Near Shore Locations Offshore Locations
 Chile*
 Peru*
 Colombia*
 Philippines*
 Tunisia
6
 Czech Republic
 USA
 Canada
 Italy
 Poland
 Sweden
 Denmark
 Portugal
 Switzerland
 Croatia
* Developing into domestic/near shore
markets
 Canada
 Croatia
 Serbia
 Estonia
 Latvia
 Czech Republic
 Hungary
 Lithuania

7. Our performance in Q2 2014
2

8. 8
• Efficiency improvements
and continuous focus on
underperforming areas
• Targeted sales efforts
- Growth with existing
clients in new
geographies
- Broadening client base
Positive progress on turnaround
We are focusing on enhancing Transcom’s performance
* Excluding non-recurring items.
599.2
631.8
560.2
589.1
554.1
605.6
653.2
2007 2008 2009 2010 2011 2012 2013
6.0%
4.4%
2.2%
0.7%
1.5%
2.7%
4.3%
Revenue (€m)
Operating margin*
3.1%
1H 2014

9. Two thirds of the 8.7% revenue decrease in Q2 2014 is due to
divestments and closures and to currency impact
51.0 48.7
38.6 37.3
34.6
29.9
31.7
29.2
10.7
6.8
Q2 2013 Q2 2014
9
Central &
South Europe
Iberia & Latam
North America
& Asia Pacific
North Europe
Change
-4.5%
CMS
Net revenue, Q2 2014 vs. Q2 2013
€m
-3.4%
-13.6%
-7.9%
-36.4%
152.0
166.5
• Revenue impacted by divestments
and closures in order to focus on the
core CRM business in prioritized
geographies (€-5.6m)
• Negative currency impact: €-4.0m

10. Q2 2013 Q2 2014
Excluding divested or closed operations and currency effects, revenue
decreased by 2.9% on a like-for-like basis
10
152.0156.9*
* Like-for-like revenue in Q2 2013
adjusted for currency effects
(€-4.0m) and a number of
divestments and closures (€-5.6m)
Closures and divestments:
- Sale of a number of CMS units
- Sale of Belgian operation
- Closure of Valdivia site in Chile
- Closure of Danish CRM
operation
€4.9m like-for-like revenue decrease
mainly due to lower volumes in Iberia
& Latam (Chile), North Europe and
North America & Asia Pacific
Net revenue, Q2 2014 vs. Q2 2013
on a like-for-like basis
€m
-2.9%

11. EBIT Q2 2013 One-off items
2013
One-off items
2014
Cost savings
programs
Volume &
efficiency
Expansion
costs
Other EBIT Q2 2014
Improved profitability in core CRM operations (€1.1 million cost due to
re-domiciliation project impacted on the result this quarter)
11
2.6 -0.2
-1.1
-1.0
-1.2
+2.2
EBIT, core CRM business
Q2 2013 vs. Q2 2014
+1.2 2.5
• €1.2m EBIT improvement excluding one-off items in Q2 2013 and Q2 2014,
mainly driven by the North America & Asia Pacific and North Europe regions
• Temporary drop in performance in Iberia & Latam: decreasing seat utilization and
unsatisfactory efficiency in Chile

12. EBIT Q2 2013 One-off items
2013
One-off items
2014
Cost savings
programs
Volume &
efficiency
Expansion
costs
Other EBIT Q2 2014
EBIT comparison including CMS is negatively impacted by €1.3m due to
sale of CMS units, in addition to the €1.1 cost for re-domiciliation
12
2.9 -0.3
-2.4
-1.3
-1.2
+2.2
EBIT, Transcom Group
Q2 2013 vs. Q2 2014
• €1.2m EBIT improvement excluding one-off items in Q2 2013 and Q2 2014,
mainly driven by the North America & Asia Pacific and North Europe regions
+1.4 1.4

13. Excluding the €1.1m one-off cost due to the re-domiciliation, EBIT
margin in the core CRM business improved from 1.6% to 2.5%
13
• North Europe: Improved performance in
the Netherlands and divestment of loss-
making Danish CRM unit
• Central & South Europe: Profitable
growth in Italy and Germany
• Iberia & Latam: Lower volumes and
efficiency in Chile and Portugal, ramp-up
of volumes at new site in Colombia
• North America & Asia Pacific: Increased
efficiency and cost reductions
• CMS: EBIT impacted by €1.3 million cost
as a result of the divestments of a number
of CMS units
2014
Apr-Jun
2013
Apr-Jun
EBIT margin*
North Europe
Central & South Europe
Iberia & Latam
North America & AP
CRM*
CMS
Total
3.8%
1.8%
-1.4%
1.5%
1.6%
-16.3%
0.9%
1.2%
2.0%
3.5%
-0.1%
1.6%
3.0%
1.7%
* Includes €1.1m cost for redomiciliation in Q2 2014

14. Key priorities in 2014
14
• Increase onshore seat utilization in North America
• Increase focus and accountability
• Focus on creating opportunities for profitable growth, also expanding
onshore footprint
• Improve operational performance in the North Europe region
• We have ended a number of unprofitable client contracts
• Greater financial predictability through the implementation of a new
agreement with one of our largest clients
• Improve operational performance in Latin America
• Address decreasing seat utilization and unsatisfactory efficiency levels in
Chile
• Presence in Colombia will support strategy to expand in fast-growing Latin
American markets

15. What will it take for Transcom to return to
historical margins?
15
Key performance driver Trend vs. Q2
2013
Q2 2014 vs. Q2 2013
Average Seat Utilization
ratio
87% vs. 88%
Share of revenue generated
offshore
22% vs. 19%
Average Efficiency ratio
(billable over worked hours)
n/a - flat
Monthly staff attrition n/a – positive development (decrease in staff attrition)
Improvements on four KPIs vs. previous year
Continue improving key performance indicators
• Seat utilization
• Efficiency
• Offshore/onshore split
• Attrition

16. 16
71.0
75.9
80.7
86.3
91.1
94.6 94.4
90.1
85.7
17.2
32.1
38.1
59.3 56.7
49.7
36.2
55.3 54.3
0.00
0.50
1.00
1.50
2.00
2.50
3.00
0.0
10.0
20.0
30.0
40.0
50.0
60.0
70.0
80.0
90.0
100.0
Q212 Q312 Q412 Q113 Q213 Q313 Q413 Q114 Q214
Gross debt (€ m) Net debt (€ m) Net debt/EBITDA
• Gross debt decreased by €4.4 million compared to the Q114 level
• Net Debt decreased by €1.0m compared to the Q114 level
• Net Debt/EBITDA ratio: 2.30 (2.40 in Q114)
• Financial cost €0.6m (€1.3m in Q114)
Debt & leveraging

17. 3
Going forward
– Transcom’s strategic direction

18. 18
Transcom’s brand promise
Outstanding Customer
Experience, driving
revenue and brand
loyalty
”

19. 19
Growth opportunities
North America and Asia Pacific
• Continue expanding in local markets in Asia Pacific
• Expand onshore volumes in North America
Latin America
• Serving domestic markets and the US, in addition to Spanish clients
North Europe
• Leverage strong position in home market
Central Europe
• Primarily near shore opportunities
• Strong capability in expanding Eastern European markets

20. Stay up-to-date on Transcom
20
www.transcom.com blog.transcom.com
LinkedIn

21. Thank you!
Questions?