YA Holding AB (publ) Investor presentation Q3 2016 Jan Larsson CEO - PowerPoint PPT Presentation

YA Holding AB (publ) Investor presentation Q3 2016 Jan Larsson CEO Mikael Vesterlund CFO Presentation made 25/11/2016

Participants CEO CFO Jan Larsson Mikael Vesterlund 2

Inflow of asylum seekers low, but increase in decision speed will lead to more job seekers Delayed effect on market: 45000 200000 • Inflow lower than before 180000 40000 the asylum wave 160000 35000 • Average handling time 140000 30000 361 days, 124 days longer 120000 25000 than in January 100000 20000 • # of decisions continues to 80000 15000 increase to >10.000 per 60000 month 10000 40000 • 5000 # of granted permits stays 20000 high. 61% (6.000) in 0 0 2014-01 2014-03 2014-05 2014-07 2014-09 2014-11 2015-01 2015-03 2015-05 2015-07 2015-09 2015-11 2016-01 2016-03 2016-05 2016-07 2016-09 September, and increasing In reception system Applications for asylum Granted • >50% granted on average Right hand scale, stock Left hand scale, per month • 138.000 asylum seekers in system, 115.000 with no asylum decision Source: The Swedish Migration Board, Migrationsverket 3

Unemployment down, but increases among those born outside of Europe Unemployment Continued need for Number of people matching and training: 450 000 • 76.000 vacant positions, Open In programmes 400 000 +27% in 12 months • # of unemployed who got a 350 000 job in Sep: 40.000 (-5.4%) 300 000 • Youth unemployment 61.000 250 000 (11.7%), lowest since 2008 200 000  Primarilly youth w/out secondary education 150 000 • Unemployed born out of 100 000 Europe up 16.000 to 155.000 50 000 • 52.000 unemployed in 0 ” Establishing mission” jan mar maj jul sep nov jan mar maj jul sep nov jan mars maj juli sept (+10.000) 2014 2015 2016 Source: The Swedish Public Employment Service, Arbetsförmedlingen 4

Same market share in labour training as 12 months ago despite close-down of warehouse and transport courses Labour training participants Volume growth • Participants in labour education down 12 % • YA’s participants down by 14%. • > ½ of turnover effect from close-down of warehouse and transport counteracted by increasing participation in existing courses:  machine operator/excavator  real estate  industry Source: The Swedish Public Employment Service, Arbetsförmedlingen 5

Profit & loss Q3 2016 Revenues were SEK 67.7 million (77.1) in the quarter. The average number of students in AUB has been 1125 (1171) for the period. A decline in truck and bus education compared to prior year. EBITDA amounted to SEK 2.0 million (7.8) Decreased revenue due to terminated business has generated a lower result during the quarter. 6

Normalized EBITDA EBITDA Q1 2015 Q2 2015 Q3 2015 Q4 2015 Q1 2016 Q2 2016 Q3 2016 (SEK million) Reported EBITDA 13.2 10.0 7.8 9.2 21.0 10.0 2,0 Non recurring cost +1.6 +2.1 +3.0 Other income Normalized EBITDA 14.8 10.0 7.8 11.3 21.0 13.0 2,0 7

Balance sheet & cash flow Q3 2016 Cash balance amounted to SEK 18.5 million (9.8) at the end of the quarter, bank overdraft facility (SEK 30 million) not used. Cash flow amounted to SEK -10.3 million (0.1). Cash flow from operating activities amounted to SEK -9.8 million (-0.4). Change in Working capital was SEK -3.3million (1.0). Net debt amounted to SEK 378.2 million (403.2). 8

Cash flow Q3 2016 (SEK millions) EBITDA 2,0 Change in working capital -3,3 Cash flow before interest and taxes -1,3 Interest paid -8,0 Income tax paid -0,6 Cash flow from operating activities -9,9 Cash flow from investing activities 1,4 Cash flow from financing activities -1,8 Cash flow for the period -10,3 9

Key Ratios (Covenants) Actual Target Leverage (Net debt/EBITDA) 8.0x <3.0x Interest coverage (EBITDA/Net finance charges) 1.8x >2.5x 10

After the truck and bus tender, a combined cost reduction and growth plan has been executed Profitable growth program New educations H2 2016: - Losses of turn-over and regain plan: • Construction Loss in transport Regain Regain Potential regain tender Decisions Q2 Decisions Q3 Decisions Q4* • Vehicle mechanics 60 • Chef and restaurant worker 40 • Professional cleaner 20 AF 0 New customers H2 2016: • -20 Municipalities Other & Vux • Truck Industrial corporates -40 Cons- truction ~80* • Penitentiary education Other -60 VUX +20-30 • Vaasa, Finland Tenders -80 30-40 Vehicle -100 Legal appeal: Mechanics Bus 30-40 • Supreme Court -120 • -125 +60-70 Decision Dec-Feb -140 • If new tender, earliest start * Estimate based on historic win-ratio and expected number of bidders. Restaurant in September education decision in Q4 included under the assumption that volumes will be as today 11

Thank You! 12