Vitec 2014 in 30 sec. 23 % Return on Equity % Profit after financial items. 54,7 MEuro Net sales. 0,97 Euro 14 %

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2 Vitec 2014 in 30 sec + 13 % Profit after financial items 23 % Return on Equity Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. 54,7 MEuro Net sales 14 % 0,97 Euro Operating margin Earnings per share 0,37 Euro *Dividend per share *Proposal by the Board

3 Vitec at a glance Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. Software Company with industry-specific solutions Number of Employees 400, 55 % in Sweden Seven Business Areas (vertical markets) Estate Agents Property Energy Media Finance & Insurance Auto Health Listed on Nasdaq OMX Stockholm (Small Cap) More then shareholders Market cap 750 Mkr

4 Our Offering Unique solutions Industry-specific Business Systems that are more cost effective than general solutions Software Specialist Services SaaS, Support and Maintenance Agreements Mission Offer customers a profitable and modern Business Support through value-creating Software and Services.

5 About Vitec Vision Being a growth company within the mature segment of the software industry Mission Consolidate and professionalize vertical segments in the software industry Business concept Provide mission-critical proprietary software enabling our customers to maximize their opportunities to develop and secure their business.

6 Vertical Market Orientation is our Business Strategy Sub-Contractors Low dependency on third party vendors; in-house development predominates Customers Markets with a couple of hundred up to several thousand customers. Not Billion customer markets. High Entry Barriers Business Critical systems with high replacement costs and long lead times for development Customer s Options Limited and less cost effective solutions from generalists and/or consultants The Competition Small competitors with limited resources for growth; at times lacking professional leadership

7 Our Strategy for Growth 3 - Grow Realize additional acquisitions in existing niches and grow organically. 1 - Acquire Identify and investigate niched acquisition targets together with negotiation and acquisition. Capital 2 - Refine Create improvements in operations and establish strategic focus. Positive Cash-Flow

8 ,00 50,00 Net sales (MEuro) Milestones History of Strong Growth 40,00 30,00 Klicka 20,00 på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen 10,00 visar. Bilden placeras alltid under den grå fliken. 0, Vitec is founded 1998 Listed on Aktietorget Acquisition of companies within Property Management 2002 Year of the IT Bubble Vitec provides the first dividend (28 cent) 2003 Strategy for growth and Acquisitions is formalized Vitec completed 16 company acquisitions and 9 acquisitions of product rights or assets Net sales is 54,7 MEuro (Dividend of 0,37 Euro*) * Proposition from the Board

9 Brand and product Strategy Acquired companies are subsequently fused to one brand Acquisitions Acquisitions Acquisitions If acquired products are competing in same marketplace - preserved as legacy systems and maintained, though gradually reduced cost - gradually integrated by releasing new common components during a 5-7 years period

10 A Selection of Customers

11 (MEuro) Growth realized both through acquisitions and organic growth Net sales Growth 60,00 Health 50,00 40,00 Auto Finance & Insurance Capitex 3L System Estate Agent 30,00 20,00 Media Energy Real Estate 25%/år 10,00 0,

12 (MEuro) 8,0 7,0 6,0 5,0 4,0 3,0 2,0 1,0 29 %/year Profit before tax (EBT) Strong EBT Growth 0,

13 Growth with maintained profitability 30% 25% 20% 15% 10% 5% 0% Dividend on employed capital Dividend on Equity

14 Transfer agreement House /condominium Business Area Estate Agents

15 Business Area Property Management Rental coupon Lägenhets nr Tenant pages Search for available apartments Maintenance planning Technical management Mobile service orders and energy statistics

16 TSO Transmission system operator Business Area Energy

17 Locations and Employees Year Location Employees 1985 Umeå Stockholm Malmö Göteborg Västerås Linköping Östersund Kalmar Norway Finland Norway Denmark 75 Sum 400 UMEÅ ÖSTERSUND TAMMERFORS VÄSTERÅS OSLO STOCKHOLM LINKÖPING GÖTEBORG KALMAR MALMÖ ODENSE

18 Group Management Lars Stenlund President (CEO) Olov Sandberg exec.vice President IRO Lars Eriksson exec.vice President M&A, BD Patrik Fransson exec.vice President COO Jerker Vallbo CIO/CTO Maria Kröger CFO Johan Nyström IT Karin Larsson HR Estate Agents Sweden Richard Larsson Estate Agents Norway Erik Hansen Property Johan Kull Media Linda Tybring Finance & Insurance Linda Tybring Energy Niklas Berg Finance Denmark Kim Nørgaard Andreasen Health Ilari Laaksonen AutoData Svein Roger Westengen

19 Board of Directors Crister Stjernfelt Chairman Anna Valtonen Kaj Sandart Jan Friedman Birgitta Johansson- Hedberg

20 Strategy for continued Growth Strategy Business Models with Recurring Revenue Niche Focus Delimited Niches with potential Possibility to become Market Leader Organic och Acquisition focused Growth Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. Acquisition Targets Target Companies: MSEK turnover Niched Software Company New Niche optionally supplement Profit per share critical factor Price approx. 5-7 times depending on Equity Next: Nytt tillväxtmål fortsatt expansion

21 Business Goals Financial Goals Profit Margin 15 % Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. Dividend policy 1/3 of the profit will be distributed to shareholders

22 Acquisition exploration Time in funnel 1-6 Yr. Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. Search area Nordic countries primarily Search for companies In new niches - or existing Profitable companies, no turnaround, recurring revenue 100 companies on list with accumulated turnover exceeding MSEK On average two acquisitions per year- bigger and more frequent recently Invests currently approximately 2 manyear/yr. in exploration, building relations, negotiations and executing transactions.

23 Ownership Structure Number of Shares Number of A-shares Number of B-shares Capital % Votes % Lars Stenlund ,2 28,3 Olov Sandberg ,4 27,9 Jerker Vallbo ,8 5,7 Thomas Eklund ,9 2,7 Grenspecialisten förvaltning AB ,9 1,8 Nordea fonder ,5 1,6 Fidelity Low-Priced Stock Fund ,4 1,5 Handelsbanken Fonder ,4 1,5 Nils-Eric Öquist ,3 1,5 SEB Sverigefond Småbolag ,9 1,3 Avanza Pension (FRV) ,9 1,3 Länsförsäkringar Småbolag ,8 1,3 Didner & Gerge Fonder AB ,8 1,2 Rambas ,3 1,0 Other owners ,5 21,4 TOTAL % 100% Number of shares based on ownership

24 Value creation for shareholders

25 Year End Report Delårsrapport January -januari-juni December INCREASED PROFITS AND HIGHER DIVIDEND NET SALES 54,7 MEuro (41,3) PROFIT BEFORE TAX 7,2 MEuro (4,2) OPERATING MARGIN 14 % (11) EARNINGS PER SHARE BEFORE DILUTION 0,97 Euro (0,64) CASH-FLOW FROM OPERATIONS 14,4 MEuro (4,8) THE BOARD PROPOSES A DIVIDEND OF 0,37/share (0,31)

26 Interim Report Delårsrapport October -januari-juni December STRONG EARNINGS IMPROVEMENT NET SALES 14,8 MEuro (9,6) PROFIT BEFORE TAX 2,0 MEuro (1,5) OPERATING MARGIN 16 % (10) EARNINGS PER SHARE BEFORE DILUTION 0,36 Euro (0,15) CASH-FLOW FROM OPERATIONS 4,24 MEuro (0,31)

27 Income Statement January December 2014 Revenue distribution Income Statement (MEuro) Jan-Dec 2014 Jan-Dec 2013 OPERATING REVENUE License revenues % (71) Recurring revenues Service revenues NET SALES WORK PERFORMED FOR OWN ACCOUNT Depreciation Other costs OPERATING EXPENSES % OPERATING PROFIT BEFORE ACQUISITION COSTS Financial items + acquisition costs % 5 % INCOME AFTER FINANCIAL ITEMS Tax Recurring Services Licenses Others NET INCOME EARNINGS PER SHARE (Euro/share) 0,97 0,64

28 Cash flow January December ,00 2,50 2,00 1,50 1,00 0,50 0,00 Cash earnings per share (Euro/share) Cash flow (MSEK) OPERATING EQUITY Jan-Dec 2014 Jan-Dec 2013 Profit before tax Adjustments for items not included in cash flow Interests and taxes CASH FLOW FROM OPERATING ACTIVITIES BEFORE CHANGE IN WORKING CAPITAL Change in working capital CASH FLOW FROM OPERATING ACTIVITIES Cash flow from investing activities Cash flow from financing activities CASHFLOW Cash and cash equivalents at beginning of period CASH INCLUDING SHORT-TERM INVESTMENTS AT END OF PERIOD

29 Balance December 31, Owners equity per share (Euro) Balance (MEuro) FIXED ASSETS Goodwill Capitalised development expenditure Product rights Equipment and furniture CURRENT ASSETS Current assets Cash TOTAL ASSETS EQUITY NON-CURRENT LIABILITIES AND PROVISIONS CURRENT LIABILITIES TOTAL EQUITY AND LIABILITIES

30 Net sales and recurring portion by quarter 18,0 16,0 14,0 12,0 10,0 8,0 6,0 4,0 2,0 0,0 Net sales (MEuro) Recurring portion (%) Q4-11 Q4-12 Q4-13 Q % 90 % 80 % 70 % 60 % 50 % 40 %

31 Net sales and operating margin per quarter Net sales (MEuro) Operating margin (%) 18,0 30 % 16,0 14,0 12,0 25 % 20 % 10,0 8,0 6,0 15 % 10 % 4,0 2,0 0,0 Q4-11 Q4-12 Q4-13 Q % 0 %

32 Relation between Recurring portion and Operating margin Recurring portion (%) Operating margin (%) 85% 18% 80% 75% 70% 65% 60% 55% 50% Q4-12 Q1-13 Q2-13 Q3-13 Q4-13 Q1-14 Q2-14 Q3-14 Q % 14% 12% 10% 8% 6% 4% 2% 0%

33 Net sales & Operating Profit/Business Unit January - December Net sales January - December (MEuro) Operating Profit January - December (MEuro) 18,00 16,00 14, ,0 2, ,00 2,0 10,00 8,00 1,5 6,00 1,0 4,00 2,00 0,5 0,00 Estate Agents Real Estate Man Media Energy Health Auto Finance & Insurance 0,0 Estate Agents Real Estate Man Media Energy Health Auto Finance & Insurance

34 Profit, Dividend and Valuation 1,00 0,90 Profit (Euro)/share Dividend (Euro)/share 20,00 18,00 Price (Euro/share) Price/Earnings 0,80 16, ,70 14, ,60 12, ,50 0,40 * 10,00 8, ,30 6,00 0,20 4,00 0,10 2,00 0, , * Proposal from the Board

35 Financial Calendar Coming Reports May , 13:00 CET Interim Report January Mars Annual meeting July , 08:30 CET Interim Report January June 2015 Klicka på symbolen för att infoga bild här. Bilden ska vara utfallande (undantag frilagda objekt) och får inte vara bredare än vad stödlinjen visar. Bilden placeras alltid under den grå fliken. Contact: Lars.Stenlund@vitecsoftware.com, President/CEO Maria.Kroger@vitecsoftware.com, CFO ir@vitec.se