TOP 10 SHAREHOLDERS

Shareholders 30 June 2017	Number of shares	Percentage
Mellby Gård Investerings AB	14,094,500	29.99%
Swedbank Robur fonder	4,297,872	9.14%
Carnegie fonder	4,000,000	8.51%
Polaris Capital Management LLC	3,121,897	6.64%
Lannebo fonder	2,953,381	6.28%
VERDIPAPIRFOND ODIN SVERIGE	1,642,967	3.50%
FJÄRDE AP-FONDEN	1,581,376	3.36%
State Street Bank & Trust Com., Boston	1,500,890	3.19%
JPM Chase NA	1,162,363	2.47%
DnB - Carlson fonder	687,536	1.46%

SHAREHOLDER DISTRIBUTION

Shareholder	Number of shares	Percentage
Sweden	33,455,802	71.18%
USA	7,027,494	14.95%
Other countries	6,515,736	13.86%

analysts

ABG Sundal Collier

Andreas Lundberg

+46 8 566 286 51

andreas.lundberg@abgsc.se

Handelsbanken Capital Markets

Karri Rinta

+46 8 701 3636

kari05@handelsbanken.se

Financial targets

During 2016, Duni carried out a series of activities that have contributed to growth, both organically and through acquisitions..

Read Annual Report 2016

Sales growth 5%

Duni’s target is to achieve average organic growth in sales in excess of 5% per year over a business cycle. In addition, Duni may consider acquisitions in order to access new growth markets or strengthen its position on existing markets.

Target fulfillment in 2016: The currency-adjusted organic growth was 1.2%. Duni demonstrated continued growth in line with last year. It is believed that the market as a whole grew on average by 1%.

OPERATING MARGIN, 10%

Duni’s target is an operating margin of 10% or more. Profitability is to be increased through sales growth, continued focus on premium products, and continued improvements within purchasing and production.

Target fulfillment in 2016: The operating margin target was exceeded and ended up at 11.8%. Structural effects and acquisitions of recent years contributed to a strengthened operating margin.

DIVIDEND, 40% OF INCOME AFTER TAX

It is the Board’s intention that, in the long term, dividends shall amount to at least 40% of income after tax.

Target fulfillment in 2016: Thanks to continued positive income generation and a strong cash flow, the Board proposes a dividend of SEK 5.00 per share, i.e. it is proposed that the dividend for 2016 shall equal 71% of income after tax.