The Gunnebo Security Group's year-end release and fourth quarter report for 2013.

1. Year-End Release 2013
Telephone Conference January 31, 2014
Highlights
October - December

Strong quarter

Organic growth in order intake of 5%

Adjusted organisation strengthening Regions and Customer Focus

Operating margin seasonally strong, 9% excl. non-recurring costs

Operating cash flow strongest in several years

Launch of new strategic products
© Gunnebo Security Group 31 January, 2014 page 2

2. Highlights
Year To Date

Organic growth in order intake of 4% and net sales of 1%

Point of gravity shift continued successfully

Acquisition in South Korea

Integration work has increased Hamilton profitability

Restructuring activities to reduce European cost base continued

Operating margin improved

Strong operating cash flow and solid financial position
© Gunnebo Security Group 31 January, 2014 page 3
Product Launches in the Fourth Quarter 2013
New Speedstile Range
Mekanno
© Gunnebo Security Group 31 January, 2014 page 4
CompacSAS
EVairlock
SafeCash Retail
Deposit
Fusion

3. Gunnebo Group
October - December
October ‐ December
2013
2012
Net Sales, MSEK
Operating Profit, excluding non‐recurring, MSEK
Operating Margin, excl. non‐recurring, %
Non‐recurring items, MSEK
Operating Profit, MSEK
Operating Margin, (%)
Operating Cash Flow, MSEK
Net Profit, MSEK
1,477
133
9.0
‐30
103
7.0
200
48
1,517
139
9.2
‐29
110
7.3
185
2
© Gunnebo Security Group 31 January, 2014 page 5
Gunnebo Group
January - December
January ‐ December
2013
2012
Net Sales, MSEK
Operating Profit, excluding non‐recurring, MSEK
Operating Margin, excl. non‐recurring, %
Non‐recurring items, MSEK
Operating Profit (EBIT), MSEK
Operating Margin, (%)
Operating Cash Flow, MSEK
Net Profit, MSEK
5,271
306
5.8
‐84
222
4.2
261
102
5,236
266
5.1
‐87
179
3.4
112
24
© Gunnebo Security Group 31 January, 2014 page 6

4. Region Europe, Middle East & Africa (EMEA)
Oct-Dec
MSEK
2013
Region % of Net Sales
Full year
2012
2013
2012
Order intake
Organic growth, %
880
6
821
3,558
-2
3,707
Net sales
999
-4
1,035
3,474
-5
3,736
Organic growth, %
Operating profit/loss excl. non-recurring items
56
49
47
53
Operating margin excl. non-recurring items, %
5.6
4.7
1.4
1.4
Non-recurring items
-26
-21
-74
-63
Operating profit/loss
30
28
-27
66%
-10
October - December




Good order intake in Africa
Demand from European markets still unstable
Reduction of cost base in Sales Companies and Operations continued
Margin improvement to 5.6%, excl. non-recurring items
© Gunnebo Security Group 31 January, 2014 page 7
Region Asia-Pacific (APAC)
Oct-Dec
MSEK
2013
Region % of Net Sales
Full year
2012
2013
2012
Order intake
Organic growth, %
266
26
235
1,043
27
885
Net sales
Organic growth, %
261
22
237
954
20
868
18%
Operating profit/loss excl. non-recurring items
36
48
134
111
Operating margin excl. non-recurring items, %
13.8
20.3
14.0
12.8
Non-recurring items
-2
-7
-8
-19
Operating profit/loss
34
41
126
92
October - December




Strong organic growth in India, China and South-East Asia
India continues to contribute strongly
Weaker margin in quarter comparison due to large project delivery
in Australia in Q4 2012
Several important orders from Hyundai South Korea, Bank of China
and for electronic security in India
© Gunnebo Security Group 31 January, 2014 page 8

5. Region Americas
Oct-Dec
MSEK
Order intake
Organic growth, %
Net sales
Organic growth, %
2013
Region % of Net Sales
Full year
2012
2013
2012
167
-16
261
913
9
658
217
-5
245
843
7
16%
632
Operating profit/loss excl. non-recurring items
41
42
125
102
Operating margin excl. non-recurring items, %
18.9
17.1
14.8
16.1
Non-recurring items
-2
-1
-2
-5
Operating profit/loss
39
41
123
97
October - December




Sales to governmental customers impacted by federal budget cuts
Brazil had a weak quarter, market uncertainty delayed customer orders
and deliveries
Successful Hamilton integration, cost reduction in administration and
operations improved margins
Operating margin of 18.9%, increase with 1.8 percentage points
© Gunnebo Security Group 31 January, 2014 page 9
Organic Growth Development by Region
October - December
EMEA
Orders: 6%
Sales:
-4%
Americas
Orders: -16%
Sales:
-5%
© Gunnebo Security Group 31 January, 2014 page 10
APAC
Orders:
Sales:
26%
22%

6. Organic Growth Development by Region
Year To Date
EMEA
Orders: -2%
Sales: -5%
APAC
Orders: 27%
Sales: 20%
Americas
Orders: 9%
Sales:
7%
© Gunnebo Security Group 31 January, 2014 page 11
Outlook Market Trends
Europe, Middle East & Africa
Asia‐Pacific
Nordic
India
Central
China
South
Australia/New Zealand
United Kingdom & Ireland
South East Asia
France
Americas
Middle East
North America
Africa
Latin America
© Gunnebo Security Group 31 January, 2014 page 12

7. FINANCIALS
Christian Johansson
CFO
© Gunnebo Security Group 31 January, 2014 page 13
Income Statement
October - December
(MSEK)
Oct-Dec
MSEK
Net sales
Cost of goods sold
2013
2012
1,477
1,517
-1,036
-1,052
441
465
-338
-355
Operating profit/loss
103
110
Net financial items
-51
-52
52
58
Taxes
-4
-56
Profit/loss for the period
48
2
29.9
30.7
Gross profit
Other operating costs, net
Profit/loss after financial items
Gross margin, %
Operating margin, %
Operating profit excl. non-recurring items, MSEK
Operating profit excl. non-recurring items, %
Earnings per share, SEK
© Gunnebo Security Group 31 January, 2014 page 14
7.0
7.3
133
139
9.0
9.2
0.61
0.00

8. Income Statement
January – December
(MSEK)
Full year
MSEK
2013
Net sales
2012
5,271
1,570
-1,360
-1,391
222
Other operating costs, net
-3,666
1,582
Gross profit
5,236
-3,689
Cost of goods sold
179
Operating profit/loss
Net financial items
-75
-66
Profit/loss after financial items
147
113
Taxes
-45
-89
Profit/loss for the period
102
24
Gross margin, %
30.0
30.0
Operating margin, %
4.2
Operating profit excl. non-recurring items, %
3.4
306
Operating profit excl. non-recurring items, MSEK
266
5.8
5.1
1.29
Earnings per share, SEK
0.26
© Gunnebo Security Group 31 January, 2014 page 15
Net Sales
(MSEK)
6,500
6,000
5,500
5,000
4,500
4,000
Q1
Q2
Q3
Q4
Q1
2012
4 Quarters
© Gunnebo Security Group 31 January, 2014 page 16
Q2
Q3
2013
2 Quarters x 2
1 Quarter x 4
Q4

9. Net Sales Organic Growth Quarter vs Quarter
(%)
4%
3%
2%
1%
0%
‐1%
‐2%
‐3%
‐4%
1
2
3
4
1
2
2012
3
4
2013
© Gunnebo Security Group 31 January, 2014 page 17
Operating Profit by Quarter
(MSEK)
Full year
Operating Profit
160
140
excl. Non‐recurring items
2013:
2012:
120
306
266
100
Operating Profit
2013:
222
2012:
179
80
60
40
20
0
1
2
3
2012
Operating Profit
© Gunnebo Security Group 31 January, 2014 page 18
4
1
2
3
4
2013
Operating Profit, excl Non Recurring Items

10. Operating Margin by Quarter
(%)
Full year
Operating Margin,
10%
9%
8%
7%
6%
5%
4%
3%
2%
1%
0%
excl. Non‐recurring items
2013:
2012:
5.8
5.1
Operating Margin
2013:
4.2
2012:
3.4
1
2
3
4
2012
1
2
3
4
2013
Operating Margin %, Quarter
Operating Margin % Quarter, excl. Non-Recurring Items
Operating Margin %, 12M
Operating Margin % 12M, excl. Non-Recurring Items
© Gunnebo Security Group 31 January, 2014 page 19
Operating Cash Flow
(MSEK)
Year End
2013: 261
2012: 112
Operating Cash Flow 12M
© Gunnebo Security Group 31 January, 2014 page 20

11. Net Debt
(MSEK)
2012
Q1
Q2
2013
Q3
Q4
Q1
Q2
Q3
Q4
0
Gunnebo AB
Dividend paid
2012 Q2
2013 Q2
‐200
‐400
‐600
‐800
‐1000
‐1200
‐1400
Post‐employment benefits
Net Debt, excluding Post‐employment Benefits
© Gunnebo Security Group 31 January, 2014 page 21
Debt Structure
(MSEK)
Loan Frame and Drawn
1400
1200
1000
800
Unutilized
600
Utilized
400
200
0
< 12 months
© Gunnebo Security Group 31 January, 2014 page 22
12‐24 months
Maturity (year)
24‐36 months
76
76

12. Invitation to Gunnebo Capital Market Day 2014

March 5, Stockholm

Preliminary agenda:




An update on Gunnebo’s strategic agenda
Presentation of Gunnebo’s Sales Regions
Presentation of selected parts of Gunnebo’s offering
Q&A session
 For registration and more information,
see www.gunnebogroup.com
© Gunnebo Security Group 31 January, 2014 page 23
Financial Calendar
Financial Calendar
Gunnebo Capital Market Day 2014
March 5, 2014
Annual General Meeting 2014
April 10, 2014
Interim report January-March 2014
April 29, 2014
Interim report January-June 2014
July 16, 2014
Interim report January-September 2014
October 23, 2014
Year-end release
February 4, 2015
© Gunnebo Security Group 31 January, 2014 page 24

13. Key Priorities 2014
 Growth
 Gross Margin Improvements
 Fixed Cost Savings in Europe
 Cash Flow
© Gunnebo Security Group 31 January, 2014 page 25
Q&A
© Gunnebo Security Group 31 January, 2014 page 26

14. www.gunnebogroup.com
© Gunnebo Security Group 31 January, 2014 page 27