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BUSINESS SUMMARY 2015

Camfil Business Summary

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Page 1: Camfil Business Summary

BUSINESS SUMMARY 2015

Page 2: Camfil Business Summary

Contents2 Presentation of the Camfil Group

3 Highlights 2015

4 CEO’s Comments

6 Business Concept

7 Core Values

8 We are what we breathe, too

10 Business Area Filters – for every filtration and containment need

14 Business Area Power Systems – protecting gas turbines

18 Business Area APC – leader in dust, mist and fume collectors

22 Sustainability Report 2015

28 How Human Resources and Internal Communication support Camfil’s strategy

29 IAQ program for Swedish Olympians

30 Camfil’s global organization

32 Financial Analysis 2015

34 Board of Directors’ Report and Consolidated Financial Statements

83 Auditors’ Report

84 Group Management

85 Board of Directors

86 Five-Year Summary

87 Historical timeline

Protecting health, processes and the environmentThe Camfil Group is a world leader in air filters and clean air-

solutions that protect health, processes and the environment.

Camfil is also one of the most global air filtration specialists

with 25 production units and six R&D centers across Europe,

the Americas and Asia.

The Group, headquartered in Stockholm, Sweden, has

approximately 3,800 employees and global sales of more than

SEK 6 billion per year.

The company’s business is to provide customers with

sustainable best-in-class air filtration products and services

through three main business areas: Filters, Power Systems and

Air Pollution Control (APC).

With more than 50 years of experience in air filtration

products and solutions, Camfil delivers value to customers

all over the world while contributing to something essential to

everyone – clean air.

Cover photo: In collaboration with the Swedish Olympic Committee and

Karolinska Institutet, Camfil started to apply its air filtration expertise in

2015 to investigate the connection between sports performance and

indoor air quality. The study will continue during 2016 and include the

installation of Camfil air purifiers in the residences of Swedish athletes

competing in the 2016 Summer Olympics in Rio.

Page 3: Camfil Business Summary

Highlights 2015Record sales and earnings – again

Camfil achieved its best year ever in 2015 with new record results, solid growth and

improved margins. Group sales amounted to SEK 6,250 M (5,461). Operating profit

totaled SEK 657 M (572).

Acquisitions

Three acquisitions were made during the year – two in the U.S. and

one in Sweden – to expand the sales and distribution network in

North America and Northern Europe.

New product innovations

Camfil launched the first air filters in the world

meeting Eurovent’s stricter A+ energy efficiency

classification, as well as new revolutionary air

purifiers with particle and molecular filters for

the commercial, public and retail sectors. New

filters were also developed for airborne mole-

cular contamination and gas turbines.

Air for athletes

In collaboration with the Swedish Olympic Committee and Karolinska

Institutet, Camfil initiated a unique project to study the effects of air

pollution on athletic performance and to investigate how clean air can

help the post-training recovery process. As part of the study, Camfil

air purifiers will be used in the residences of Swedish athletes at the

Olympic Village in Rio in 2016.

CAMFIL 2015 / 3

Page 4: Camfil Business Summary

Focusing on growth, customer relevance and competitiveness

C E O ' S C O M M E N T S

It is always pleasing to begin with the

statement that the past year was the best

ever in Camfil’s history, and that we posted

record sales and earnings again. This was

the case in 2015.

While our numbers benefitted to some

extent from positive currency translation

effects, sales still grew 5 percent in con-

stant currency – the real measure of

our performance and a good result for

the air filtration industry. In a sense, we

outperformed on the bottom line, but not

completely on growth.

In the global market, five out of six

business units in the Group did very well

and one was negatively impacted by a

market downturn but still showed satisfac-

tory results. While it is true that “all horses

cannot win the race”, five out of six in last

year’s winner’s circle is something to be

proud of. All of what we accomplished last

year would not have been possible without

the commitment of our teams around the

world and I thank everyone for their fine

efforts in 2015.

But it is important to emphasize here that

we have benchmarked higher growth in the

coming years, something necessary in an

industry that is consolidating and becoming

increasingly competitive. We will continue

to focus intensively on growing the Group

by continuing to leverage the real quality of

our organization, the business, and our abil-

ity to drive organic growth while increasing

margins and safeguarding our sound finan-

cial position.

We will always aim to do better year

after year by working hard across the

Group and following our strategic business

plan. If we can top the previous year’s per-

formance, it confirms that we have the right

structure, that our plan is working, and that

we are well-positioned to take the next step

for more success.

This requires a steady strengthening of

our resources. To this end, we made some

key recruitments in 2015 and now have a

full set of players in Group Management.

Over the past few years, we have also fine-

tuned the organization, created a portfolio

of initiatives that are documented, submit-

ted and approved, and introduced a new

financial model.

In short, Camfil’s operating system

is in gear and growth is in our sights.

Our table is attractively set with strategic

measures and projects. All are identified

and broken down in a database with a traffic

light system. The necessary resources are

committed.

Customer needs come first

Last year I talked about understanding

customer needs and I still maintain today

that the companies that best understand

the needs of their customers will have the

best possibilities to win in the market. It

is not “given” that they will win, because

companies also need other skills and capa-

bilities, such as outstanding products, pro-

fessional personnel and a solid platform

of services. Enterprises also need to keep

innovating and have an “outside-in” way of

looking at the business world, not “inside-

out”.

At Camfil, the latter view is extremely

important. We have been working intensely

on creating a global customer-centric

organization by further developing our logic

from the customer’s viewpoint and needs,

not from what we are. What counts is our

relevance for customers and our ability

to satisfy requirements. To us, customer

relevance is now a key performance indicator.

We are fortunate to have superior

technology, outstanding products and half

a century of experience. But to increase

“ When customers see us adding value to their operations, they come back to do more business.”

CAMFIL 2015 / 4

Page 5: Camfil Business Summary

and understand our relevance better, we

are working in the field with customers

in a structured way, through several pilot

projects, to gain further insight into their

requirements.

This involves a combination of service,

hypotheses, behavioral observations and

input from other industries. It also requires

an analysis of the dynamics. This is still

a learning process for Camfil, but we are

taking what we learn in the field back home,

transforming it into different offerings and

then executing them in the market. It is a

complete hands-on process relating to all

of our operations.

Innovation and value creation

Insight may be one thing we are develop-

ing, but let’s not forget another important

word that begins with “i” – innovation. We

define innovation as “anything that creates

value for our customers”. Innovation is not

based exclusively on technology and prod-

ucts. It can also be value creation through

logistics solutions, packaging and ordering

processes that make it easier for custom-

ers to do business with us, but also benefit

their business.

You might ask, “how can you know that

you are really creating value for your cus-

tomers?” The answer is simple: when they

see us adding value to their operations,

they come back to do more business. If

our sales grow more and more every year,

it shows that we are creating value for our

customers. We cannot talk only about “win-

ning” business because of our excellent

sales force. Customers also choose to do

business with us – to award orders because

they see our value and relevance.

While we work with our internal process

to transform into a customer-centric com-

pany – one with product innovations based

on customer insight – we are also making

sure that we keep our eye on the ball. And

that ball is the customer. The customer

always comes first.

Camfil – the sustainable brand

Over the past half century, Camfil has trans-

formed into a global air filtration group

that helps companies, businesses, indus-

tries, consumers and governments to deal

effectively with issues involving indoor air

quality, energy consumption, sustainability

and other clean air requirements.

You can read more about this in my

introductory comments to the sustainabil-

ity section of this report (page 22). What

is important here is that we are now

perceived as being “green-tech”, confirm-

ing our mission since day one – to supply

the most energy-efficient air filters to pro-

tect people, processes and the environ-

ment. Our products and expertise really

hit the “bulls-eye” for our customers in a

world where sustainability has gone main-

stream. We are not only relevant for their

businesses – we are also relevant for their

sustainability.

Looking ahead

Many businesses dream about transform-

ing their industry, technology and introduc-

ing new business models. But transforma-

tion is not about strategy, it is all about

execution, and it has to come from the

customer’s angle.

Products and services can be and

are being copied in the market, but we

know that competitors cannot duplicate our

experience, our expertise, and the way we

deliver our products and services. Nor can

they clone our people – the best clean air

experts in the world.

Our people and market-leading prod-

ucts surely make the big difference and

we would be nothing without them. But to

stay relevant for our customers, we will

also focus more on execution and how we

service them and our markets.

As a global leader, Camfil will con-

stantly strengthen its position today and

for the future by always executing better

than others and putting the customer at the

center of everything we do.

Magnus Yngen

President and CEO

CAMFIL 2015 / 5

Page 6: Camfil Business Summary

Camfi l ’s clean air business concept

Camfil’s business concept is to provide customers with Indoor Air Quality (IAQ) and clean emissions in line with customer needs. This is being achieved with sustainable best-in-class air filtration products and services, as well as through local presence.

CAMFIL 2015 / 6

Page 7: Camfil Business Summary

Camfi l ’s core values

Committed and innovative people in an entrepreneurial environment are Camfil’s keys to success. Our core values express the soul of our company and serve as a guiding star for the entire Camfil Group. Constant efforts are made to ensure that all our employees understand and work in line with the following core values:

ReliabilityWe are reliable because we know the market, we are honest and truthful. Our people, products and processes must always meet, or supersede, agreed results.

CommitmentWe are committed to always striving for the best possible solutions and we are in the forefront of technological and environmental developments in our fields of expertise.

Customer satisfactionWe put our customers first. We focus on identifying customer needs and creating long-lasting customer value.

TeamworkWorking together makes us stronger and increases employee satisfaction both locally and globally.

Local presenceLocal understanding and presence on local markets builds customer relations and satisfaction.

CAMFIL 2015 / 7

Page 8: Camfil Business Summary

If these substances remain in the respiratory system, they can

contribute to the development of cardiovascular disease, emphysema,

edema and other serious illnesses, especially in sensitive people.

Then there are the molecular gases in air pollution, such as ground-

level ozone, nitrogen oxides, sulfur dioxide, carbon monoxide and

carbon dioxide. This cocktail of particles and gases is causing millions

of premature deaths worldwide and reducing the lifespan of entire

populations. The exact figures vary, depending on the source, but they

send us a clear message: air pollution is bad for human health. It can

potentially kill you.

In many regions and cities of the world, air pollution has become a

serious threat to human health. The invisible and unhealthy air pollut-

ants we inhale – tiny particles and molecular gases – have become

very “visible” in recent years. Googling “air pollution and health effects”

gives you almost 4.5 million hits in half a second with references

to countless news stories, scientific studies, scholarly articles and

government health warnings.

When describing air pollution, the term “particulate matter” (PM) is

normally used. The airborne particles with the greatest capacity for reach-

ing our respiratory system are very small, approximately 0.01–1 μm in

size, called PM1. Other dangerous particles are PM2.5 and PM10. These

nanoparticles, no larger than a virus, deposit in the cell membranes

of the alveoli, the tiny air sacs in our lungs where oxygen and carbon

dioxide are exchanged.

Many people know the saying “you are what you eat” – meaning that a bad diet most likely affects your health. While we can easily choose what we eat, we may not have that option when it comes to the air we breathe.

We are what we breathe, too

CAMFIL 2015 / 8

Page 9: Camfil Business Summary

IAQ in the sports arena

In 2015, Camfil started to apply its vast filtration expertise to investi-

gate the connection between air pollution, athletic performance and

indoor air quality. Camfil’s IAQ experts, R&D researchers, the Swedish

Olympic Committee and Karolinska Institutet are now collaborating to

map this. The study is unique in the world. One of the “key players” on

the team will be City M (photo), Camfil’s air purifier with particle and

molecular filtration.

As part of this pioneering initiative, Camfil has prepared a special guide

for athletes to give them a better understanding of how air affects their

body and performance, and how they can get simple and effective

protection against air pollution.

The latter is especially important because athletes inhale a large

volume of air. If an athlete trains for 5 hours a day, sleeps for 8 hours

and spends 11 hours doing ordinary everyday activities, he or she can

take in an estimated 73 m3 of air. If we assume that normal outdoor

air contains around 20 million particles per m3, an athlete breathes in

1.4 billion particles which are 0.3 μm in size every day. By comparison,

an ordinary person inhales 20-25 m3 of air per day. This includes 260

million particles that are 0.3 μm in size. Therefore, an athlete takes in

1.14 billion more particles during a day.

It is therefore of major interest to athletes around the world to know

if they can recover better and faster when breathing clean indoor air

after competing intensively in events and inhaling a higher concentra-

tion of air pollutants under physical duress.

The results of the study will be published later in a white paper for

the sports community. The project is described on page 29 and on

Camfil’s website (www.camfil.com), where the brochures “A brief guide

to indoor air for elite athletes” and “PM1 – Fine Dust Hazard to Health”

can be downloaded. The latter describes the new focus on removing

PM1, the smallest and most dangerous particles, from indoor air. Camfil

is already a step ahead and offers a full range of air filters for this

purpose, including Opakfil ES™, Hi-Flo XLT7™ and the Hi-Flo M7™ for

air handling units.

Indoor air is more polluted

As a world leader in clean air solutions, Camfil’s main specialty is to

provide Indoor Air Quality (IAQ) of high standard. Our air filters are

installed in the air handling systems of buildings to prevent polluted out-

door air from penetrating indoor spaces, where it can impact people’s

health, well-being and performance.

The level of outdoor air pollution naturally varies from place to

place. Spending a day on the streets of Beijing, for example, will have

the same negative effect on your respiratory tract as spending 30 days

in Paris.

But you cannot escape outdoor air pollution by staying indoors.

Ventilation systems mix outdoor air with indoor air. If the air is not

filtered and cleaned, there is a risk that indoor air will contain a very

large quantity of the harmful particulates that find their way into

people’s respiratory tracts and circulation systems. These particles

and other substances can combine with those already present inside

buildings and become more aggressive and harmful. The result can be

startling: research has shown that indoor air pollution can actually be

many more times as hazardous than the outdoor variety.

This is why people need to be more aware about the air they breathe.

Each day we eat around one kilo of food, drink two kilos of liquid but

breathe 25 kilos of air and spend some 90% of our time indoors.

With quality air filters in air handling units, a significant proportion

of the harmful particles and gases in outdoor air can be stopped before

they are spread through the ventilation system. This means that in

polluted cities like London, Paris, Los Angeles, Beijing and New Delhi, it

is possible to improve the quality of the poor indoor air until it reaches a

level which is acceptable, using the ventilation system alone. If a mobile

air purifier is installed in rooms as an extra measure, a consistently high

level of air quality can be achieved, even if the amount of particulates

and other substances in the outdoor air varies significantly.

Camfil’s air filters have been accomplishing this for more than half

a century. These products are internationally recognized for their abil-

ity to collect particles and gases effectively. They are also known for

their long life, low pressure drop and low energy consumption. Camfil

has also recently launched a new line of advanced air purifiers and air

cleaners for office, retail and industrial applications. All of these prod-

ucts give building owners the lowest total cost of ownership for their

filtration solutions. They also save many kilowatt hours of energy, as

documented in thousands of customer cases.

Diesel particulates that have collected in one of the 700 million air sacs (alveoli) found in the lungs. This is where oxygen and carbon dioxide (CO2) are exchanged, together with other substances. Some particles remain in these highly sensitive areas of the body, but others pass through the barrier and cause damage to the cardiovascular system.

Phot

o: P

rofe

ssor

Len

nart

Nils

son

CAMFIL 2015 / 9

Page 10: Camfil Business Summary

Filters– for every filtration

and containment need

Business Area

Filters constitute the product platform for all of Camfil’s operations and the Group’s

biggest core business. Filters also generate the highest percentage of Camfil’s

sales. Camfil’s air filters can be as small as a matchbox and as large as a shipping

container.

Their end product is clean air free of harmful or damaging pollutants, dust, dirt,

allergens, contaminants, molecular gases and, in some cases, even life-threatening

radiation, depending on the application.

By providing clean air, Camfil filters improve people’s health and performance,

protect critical manufacturing processes, boost productivity and safeguard the

environment.

Camfil offers the most energy-efficient filters for public and commercial buildings.

These products deliver clean air for high indoor air quality (IAQ). At the same time,

they help building owners reduce their energy consumption and carbon footprint.

In the production world, Camfil’s filters and clean air solutions are crucial for protecting

advanced or sensitive manufacturing processes, or for combatting airborne molecular

contamination or microbiological contamination.

In the healthcare sector, hospitals use Camfil’s filtration systems to eliminate infectious

airborne contaminants.

In the nuclear power industry, Camfil is the leader in particulate filtration, gas-phase

filtration and containment, with experience from all over the world. Camfil has also

leveraged this experience from containment to develop advanced biocontainment

systems and filter housings for high-risk research facilities and biosafety labs.

The Filters Business Area also includes Camfil’s line of standalone air purifiers and

air cleaners.

CAMFIL 2015 / 10

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Protecting people, processes and the environment

Comfort air filters for IAQ

Camfil air filters are widely used in the air handling units (AHUs) of ven-

tilation systems in buildings like schools, offices, homes, hospitals and

airports to provide the basis for a clean, healthy and productive indoor

environment with high Indoor Air Quality (IAQ).

The comfort air market consists mainly of replacement filters.

Products and services are supplied to facility management companies,

government agencies, public, office and commercial buildings, schools,

and companies providing ventilation and air conditioning service.

In Europe, bag filters are dominant, with the Hi-Flo™ and energy-

saving Hi-Flo™ XL filters being widely used products. In North America,

compact filters with pleated filter media are more common, although

bag filters are also starting to gain ground. Camfil’s filters in this market

include the energy-saving 30/30™, Hi-Flo™ ES and Durafil ES™ filters.

In Asia, a wide range of standards and systems is applied, and as a

result, there is a high degree of variance in the filter market. The most

popular energy-efficient solutions are large surface Hi-Flo™ models and

Durafil ES™ when a compact solution is required.

In urban environments, Camfil’s ozone-rated City filters combine

particle and molecular filtration to remove harmful gases and particles

in polluted air.

The business includes air purifiers and air cleaners, including the

range for industry and smaller standalone City purifiers with particle

and molecular filtration for offices and the retail sector.

Filtration for clean processes and hospitals

Camfil’s high-efficiency filters and cleanroom filtration solutions are

critical for supplying clean, uncontaminated air in many manufacturing

processes. The life science and food and beverage industries are exam-

ples, where products have to be produced in strictly controlled environ-

ments to avoid biocontamination, product spoilage and high costs.

Other critical filtration applications are supplied for biopharmaceu-

tical facilities, spray booths for the automotive industry, and ceiling

systems for hospital operating rooms to eliminate airborne infectious

contaminants.

Nuclear power industry and containment applications

Camfil started out as a supplier to the nuclear power industry more

than 50 years ago and has unparalleled experience in the field. More

than 90 nuclear plants in the world are using Camfil’s particle and gas

filters, filter housings and dampers to prevent the release of airborne

particles that might be toxic, hazardous or radioactive from operations.

Biocontainment systems

State-of-the-art biocontainment solutions – a Camfil specialty – range

from systems for sterile and particle-free air in mini-environments,

to advanced high-security housings for laboratories and filters for

biosafety cabinets. Other products include high-temperature filters for

sterilization processes and secure bag-in, bag-out systems for handling

hazardous contaminants.

Customers include life science facilities, high-security labs for

disease research and nuclear power plants.

Airborne Molecular Contamination (AMC)

Almost every advanced microelectronic fabrication plant (“fab”) in the

world uses Camfil’s AMC filtration solutions in cleanrooms and on pro-

cess equipment to avoid problems like acidic corrosion, condensable

organic deposition, or exposure to low levels of damaging ammonia.

All of these issues can negatively impact production yield and costs

for many advanced products, such as wafers, microchips, semiconduc-

tors, microprocessors and memories and displays for smartphones

and tablets.

Camfil tests 100 percent of its ULPA filters for AMC and has also devel-

oped a range of filters that are fully certified against organic outgassing.

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R E C E N T C U S T O M E R D E L I V E R I E S A N D S O L U T I O N S F R O M F I LT E R S

Air purifiers to the rescue in Delhi

Delhi’s air contains unhealthy gases, such as nitrogen dioxide, carbon monoxide and sulphur dioxide, as well as harmful particulate matter (PM1, PM10 and PM2.5) that is linked to increased rates of chronic bronchitis, lung cancer and heart disease. When outdoor air quality becomes very poor, there are calls to close city schools.

Camfil India has responded to Delhi’s pollu-tion menace. At one reputed school, Camfil’s largest air purifier in the City range has reduced PM2.5 levels by 75% to WHO’s safe level. In a government-run school, the City M with particle and molecular filtration air has cut PM2.5 levels by 70% and is now being considered for all 50 classrooms. Even a well-known Delhi law firm has installed four City Ms in their offices and more installations are under way in the retail sector.

Merial switches to Opakfil™ ProSafe

for greater savings

Merial, part of the Sanofi Group, offers a com-prehensive range of products for animal health and its main European production site for veterinary vaccines is in Lyon-Porte-des-Alpes (France). To reduce energy consumption and the total cost of ownership for the plant’s 70 air handling units (AHUs), Camfil France compared the energy costs for one AHU equipped with six competitor filters with Camfil’s Opakfil ProSafe, a low-energy filter for sensitive production processes.

The analysis involved simulations with Camfil’s LCC software, a laboratory trial and an in-situ monitoring test. The latter proved that the estimated energy savings of EUR 209 per AHU, which would cut the plant’s electricity bill by approximately 38 percent with Opakfil ProSafe, were higher than expected – at least EUR 276 per year for each AHU equipped with six of the Camfil filters.

Merial now uses Opakfil ProSafe. The filters last twice as long because of their lower ini-tial pressure drop and slower clogging speed, meaning fewer change-outs and less waste. Productivity has also been boosted, due to less production downtime.

Producing high-resolution displays in

ultraclean conditions

Display panels for Ultra HD televisions are produced and cut from glass substrate in cleanrooms. As the size of the substrate gets bigger, filters for controlling airborne molecular contamination (AMC) play a crucial role – a few uncollected gas molecules can seriously impact production yield.

In China, the cleanroom at Nanjing Panda’s “G8.5 fab” uses CamCarb™ PM panels and Gigapleat™ to remove TVOCs (Total Volatile Organic Compounds) and acidic gases when producing mother glass substrate for high- resolution displays with Sharp’s advanced tech-nology. The concentration of TVOCs and gases in the cleanroom is maintained at a very low level, protecting Nanjing Panda’s process for a very low failure rate and high production yield.

Clean air behind the scenes at Apple Store in Shanghai

In the Apple store office on Huaihai Road in downtown Shanghai, employees complained about dizziness and headaches that affected their well-being and productivity.

Camfil located the source of the problem in the basement, where air for the air conditioning system could only be collected from an exit passageway that was a gathering point for bacteria, fungi, alkanes, aldehydes, harmful gases, amines and other volatile organic compounds (VOCs), and pungent odors. There was no air filtration to stop these air pollutants and odors from migrating to the office area.

Today, a clean air solution from Camfil uses 30/30™ pre-filters and Hi-Flo™ air filters to filter the bacteria, fungi and VOCs. To remove odors, gases and ozone, particle filters are supplemented with highly efficient CamCarb™ molecular air filters. The result is a healthier and more productive work environment for the staff.

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Page 15: Camfil Business Summary

The Power Systems Business Area, operating in the market under the

Camfil Power Systems name, is a leading supplier of heavy-duty filtra-

tion and noise-control equipment for gas turbines used by major power-

generating companies and oil and gas operators worldwide. Solutions

include air inlet filtration systems, acoustic enclosures, de-icing and

cooling systems, and exhaust stacks. Other specialties include plant

optimization, service and refurbishment.

Power Systems– protecting gas turbines

Business Area

CAMFIL 2015 / 15

Page 16: Camfil Business Summary

Power System Solutions Protecting gas turbines, compressors and diesel engines is one of

Camfil’s fields of expertise. Air filtration solutions and noise control

equipment have been supplied to thousands of installations all over the

globe, assuring reliable and efficient operation of power generation

equipment and other energy production processes.

As demand for power increases, gas turbines are increasingly

being used as a local power source in combined heat and power (CHP)

and combined cycle gas turbine (CCGT) plants in growing cities. In addi-

tion, urban environments expose gas turbines to a new and different

operating environment, where air pollutants, such as airborne particu-

late matter, are more challenging to prevent fouling of sensitive turbine

components. Air filtration for air intakes, enclosures, silencers and

cooling systems for gas turbines is one of the cornerstones of Camfil

Power Systems’ expanding international business.

Since high-performance gas turbines typically operate in some of

the most severe environments, their filtration systems are involving

increasingly higher grades of efficiency in pre-filtration and the final

filtration stage to keep guide vanes and turbine blades in perfect shape.

Turbine power output is also sensitive to inlet air resistance, requiring

large filter surfaces to maintain a low average pressure drop.

A correctly designed and cost-effective system minimizes engine

degradation, leading to lower operating costs, optimum efficiency and

less environmental impact. To meet stricter demands, new products

are continuously developed in an industry-unique test rig. An example

is the CamGT™, which has the highest dust-holding capacity and filtra-

tion efficiency of any inlet filter for gas turbines, diesel engines and

compressors.

The Power Systems Business Area is a global partner that can

support customers with complete equipment packages for all gas

turbine applications from engineering hubs in Europe, India and China.

Today, products from Power Systems are being used in every

conceivable operating environment around the world to protect gas

turbines from erosion and fouling for higher efficiency and production

economy, and longer running times with lower emissions. Land-based,

offshore, and marine systems are supplied, as well as retrofits and

upgrades.

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Page 17: Camfil Business Summary

Global utility provider bets right on

CamGT™

Dissatisfied with the performance of an inher-ited pulse-filter system, ENGIE Energy North America analyzed some 30 alternative filtration choices from seven companies and opted for a Camfil Power Systems solution to retrofit six gas turbines at its Midlothian plant in Texas.

The plant’s six Alstom GT24 gas turbines were originally equipped with V-shaped type pulse filters. Fouling affected their performance and ENGIE looked for a solution.

Camfil Power Systems deployed a CamLab mobile test rig to compare the performance of the original filters with its CamGT for four months. The results showed a major increase in efficiency on 0.24 μm particles – 98% com-pared to 31% with the old filters, and a 40% low-er pressure drop with CamGT. ENGIE’s turbines were retrofitted with CamGT in 2014 and 2015 to minimize degradation, boost performance and reduce operating and maintenance costs.

12 filter houses for a mega LNG terminal in Texas

In 2015, Camfil Power Systems was awarded its largest contract to date for a major U.S. oil and gas producer that ordered 12 filter houses with cooling systems for a huge liquefied natural gas (LNG) terminal on the Gulf of Mexico. The project was realized through transatlantic teamwork between Camfil Power Systems Sweden and the end user, one of the leading developers of LNG terminals in North America.

Camfil conducted a site analysis to determine the choice of gas turbines for the two liquefaction trains. Air sampling was performed to analyze local dust and LCC analyses identified the optimum air inlet configuration. These initiatives were followed by a three-month on-site mobile lab test with CamLab (photo). The preferred solution and final choice was stainless intake systems with bug screens, anti- icing systems, chilling module and three types of Camfil filters – the Cam-Flo XMGT, CamGT 4V-300 and CamGT 3V-600. Each of the 12 housings holds 110-130 filters and their expected operating life is five years.

Filter upgrade pays for

North Bangkok Power Plant

In Thailand, the gas turbines at Block 1 of the North Bangkok Power Plant (NBPP) were sus-

ceptible to high-density dust, high humidity and high airflow that affected engine performance and caused fouling.

Seeking a remedy, NBPP opted to upgrade to a three-stage EPA-class static-filtration system without retrofitting the filter housing. Camfil used its proprietary LCC Power System software to analyze the best filtration solution, consisting of a Hi-Flo™, CamClose pre-filter and CamGT 4V-300 final filter.

After the upgrade, engine performance degradation was reduced considerably and off-line washing costs were cut almost in half. NBPP is estimated to save up to USD 1.2/EUR 1 million per year from the upgrade. Power production has also increased from 125 MW to 226 MW per hour with less fouling.

Camfil India’s gas turbine division

wins customer awards

For a number of years, Camfil India has been a supplier to BHEL-Hyderabad, an integrated power-plant equipment producer owned by the Indian government.

Among other products, BHEL-Hyderabad manufactures turbo generator sets and gas turbines. As a key vendor to BHEL, Camfil India has supplied air intake systems for BHEL’s gas turbines and has been instrumental in getting the company to switch from vertical-flow sys-tems to more modern and efficient cross-flow inlet systems.

Today, Camfil India has more than 145 in-stallations for BHEL all across the country and has been consistently rated as an A+ vendor by the company. These efforts were recognized, with BHEL bestowing Camfil India with the Best Vendor Award for 2014 - 15. In 2015, Camfil India also received the Best Supplier Fulfillment Award (photo) from GE India, a major producer of gas turbines and oil and gas equipment.

R E C E N T C U S T O M E R D E L I V E R I E S A N D S O L U T I O N S F R O M P O W E R S Y S T E M S

CAMFIL 2015 / 17

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CAMFIL 2015 / 18

Page 19: Camfil Business Summary

Business Area

Air Pollution Control– leader in dust, mist and

fume collectors

The Air Pollution Control Business Area operates globally in North

America, Europe and Asia under the Camfil Air Pollution Control (APC)

name. Camfil APC’s main mission is to design, manufacture and supply

a full range of dust, mist and fume collectors to clean up factories,

making them safer, more productive and more sustainable. Camfil

APC’s collection equipment is typically used in metal, mining, pharma-

ceutical, chemicals, paper, seed processing, food processing and many

other industries.

CAMFIL 2015 / 19

Page 20: Camfil Business Summary

Camfil APC offers state-of-the-art dust, mist and fume collectors and

backs them with dependable service, support and decades of proven

experience.

These collectors help customers prevent respiratory problems

caused by dust, fumes, mist and smoke, as well as dust collector

explosions and fires caused by combustible dusts. The equipment also

enables them to comply with governmental air quality requirements

both inside and outside factories.

Other benefits of Camfil APC's dust, mist and fume collectors

include minimizing slips, falls and visibility problems created by

“nuisance” dusts and mist in the workplace. Dust and mist collectors

also reduce worker discomfort from allergens found in process dusts

and protect valuable equipment from contamination.

Key products include the Farr Gold Series dust and mist collector line,

GS Camtain® and GS High Vacuum dust collectors and GSP packaged

dust collectors.

In Europe, Camfil APC is a well-known manufacturer of dry dust

collectors, oil and emulsion mist collectors, wet scrubbers and ancillary

items that strategically complement the flagship line of Farr Gold

Series® cartridge dust and fume collectors. These products include

Handte mist collectors and Handte Vortex wet scrubbers.

The business area has also developed the HemiPleat® line of low-

energy, long-life dust collector filters. HemiPleat filters make pleated

dust collector filters last longer and run with lower energy consumption

for both the Farr Gold Series and as a replacement filter for the dust

collectors of competitors.

Dust, mist and fume control solutions with the most advanced collectors on the market

CAMFIL 2015 / 20

Page 21: Camfil Business Summary

New direction for dust-free pharma production

For a customer, G-CON and Camfil APC com-bined their leading-edge technologies to create a revolutionary cleanroom and dust contain-ment solution that is flexible, scalable and mobile.

Representing a new direction for pharma-ceutical manufacturing, the PODs are ideal for multi-product sites, rigorous containment needs, and on-demand scaling of production and laboratory space. Instead of constructing a product-dedicated building that is expensive and inflexible, G-CON’s POD-based facilities with Camfil APC dust collection can be built at a more affordable price and within a much shorter timeframe.

The Farr Gold Series® Camtain GSC2 is used for dust control and mitigation. This cartridge dust and fume collector combines enhanced performance with ease of service while clean-ing the work environment of irritating dust and fumes. It also eliminates problems associated with the potent, toxic or allergenic properties of the compound as it relates to personnel exposure and potential explosions.

The Camtain was also the best option for the G-CON POD with regard to equipment design, integration and technical support.

Daimler goes for Micro Filter

In Germany, Daimler’s Sindelfingen plant is using a Camfil APC Micro Filter line to extract dust effectively from milling operations, meet safety and environmental requirements and cut energy costs.

Air pollution control systems for the automotive industry are a Camfil APC specialty and Daimler needed a more modern system for dust extraction from two lines that had three milling centers each. Dust and chip disposal was particularly prone to frequent faults, owing to the large number of mechanical compo-nents, such as a chain conveyor for chips. As a result, the unit frequently malfunctioned and came to a standstill up to four times a week.

The Micro Line system was engineered and implemented in only three months. Milling dust is now effectively extracted in compliance with regulations and the number of mechanical components in the chip disposal system was reduced to a minimum, significantly improving the fail-safety of the unit.

Frequency-controlled fans are also used. Energy use has been reduced 50% to 30-50 kWh, compared with approximately 110 kWh before. Other benefits of the state-of-the art Camfil APC system are significantly less maintenance work, high machine availability, and a dramatic reduction in operating costs. Return air is so clean that it can be reused to further reduce Daimler’s ventilation costs.

Polymer maker bonds with

Farr Gold Series®

OMNOVA is an innovator of emulsion polymers, specialty chemicals, and functional and deco-rative surfaces for commercial, industrial and residential applications. At one of the compa-ny’s facilities in the U.S., emulsions are taken from water and turned into polymer powder that is used for a variety of things, including oil drilling fluids and to make rubber reinforcement stronger.

The on-site dust collector was not cleaning well with the sticky materials. The bags would cake up and be ruined after 12 hours of opera-tion and OMNOVA contacted Camfil APC for a solution.

Camfil APC engineered a custom-made Farr Gold Series GS36 dust collector that had to be shipped in pieces and parts for assembly in a small space located 90 feet (27.5 m) in the air. This complicated installation uses DuraPleat Aluminized filters and the equipment is keeping the product flowing with little to no downtime today.

R E C E N T C U S T O M E R D E L I V E R I E S A N D S O L U T I O N S F R O M A P C

CAMFIL 2015 / 21

Page 22: Camfil Business Summary

Camfil’s growing relevance in a sustainable worldCamfil has been offering the most energy-efficient air filters on the

market for more than half a century and we have been working hard to

become the first truly sustainable company in the air filtration industry

since 2008, when we joined the UN Global Compact.

We knew then, as we know today, that sustainability has to be

backed up by real actions and that every effort we make will contribute

to our growing relevance as a sustainable enterprise.

In addition to developing and manufacturing the most environmen-

tally friendly air filters on the market, we have also been taking solid

actions internally and locally to make a better and greener world. An

example is our annual “CamfilCairing Week”, of which several activities

are described on the next few pages.

Camfil is a sustainable brand

During a recent business trip, I sat down with a representative of a

national government to discuss indoor air quality standards. This meeting

was most rewarding because it gave me deeper insight into how the out-

side world now perceives Camfil as a sustainable company and brand.

My meeting host explained his country’s objective to become

carbon-neutral and how they needed to team up with the right com-

panies to achieve this. This discussion became even more interesting

when the official said:

“Camfil would be an excellent partner for the

businesses of our country because you are a

‘green-tech’ company.”

Being perceived as a company that

operates in the green technology sector

means that our sustainability focus is

right on track. Our products have been

saving energy and delivering clean

air since day one. We have therefore

always been “relevant” for achieving

greenness and the rest of the air filtra-

tion industry is trying to catch up.

Our eco-efficient clean air solutions hit the bull’s-eye for our customers

in a world where sustainability has gone mainstream and is here to

stay. We are seeing more and more concerns, worries and legislation

to combat air pollution and climate change. We are noting how the

mindset of governments and the public is changing from “need to do”,

to “want to do”, to “sustainability is an opportunity, let’s do it right for

a better future.”

We have not seen all the impacts yet, but at some point sustain-

ability efforts will really have a massive effect and Camfil is already well

positioned to be part of it as a global “green-tech” company – one that

helps countries, companies, businesses and consumers to deal with

issues involving energy consumption and clean air.

We make absolute sense

At Camfil, we are proud that we are a green business in the minds of

many today. Every time we talk about what we do and who we are, we

get fantastic feedback. In the eyes of our customers, collaboration

partners and other stakeholders, we make absolute sense in today’s

business world.

Camfil’s growing relevance for providing a better and cleaner world

is part of what we are. It is what we do every day. With sustainability at

our core, we stand out from the competition.

If someone is breathing the best clean air through

our energy-saving filters today, it was because we

introduced the concept a long time ago. Camfil

has become an even greener brand that will

become even more relevant and beneficial

for many, many years to come.

Magnus Yngen

President and CEO

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Sweden

Best supplier award from Volvo CarsIn 2015, Camfil Sweden received the Volvo Cars Quality Excellence

(VQE) Award that recognizes suppliers that are best in their category

of business.

All suppliers to Volvo Cars were examined in several areas such

as global ability, risk management, continuous improvements and

cost reduction processes. In Camfil’s case, as a supplier of air filters,

Volvo Cars was very focused on how Camfil Sweden complies with the

“CamfilCairing Code”, Camfil’s platform for best sustainability practices

across all Group operations.

Slovakia

Intelligent lighting saves energyWhen the lighting used at Camfil Slovakia had to be evaluated at the

end of its life cycle, efficiency and costs were compared with the latest

solutions on the market.

A new intelligent lighting system, controlled by motion sensors and

equipped with an automatic timing option, now provides the desired

light intensity in indoor production and warehouse areas. This tailored

and adaptable lighting solution has improved the working environment

in an outstanding way and reduced electricity and maintenance costs

substantially.

China

Fire safety and first aid trainingAt Camfil China’s plant in Kunshan, training was arranged in 2015 for production staff to learn about fire

protection, prevention and management. A first-aid training course was also arranged with the local

Red Cross to teach employees about first aid, safety, and health and emergency rescue procedures.

Personnel learned how to carry out medical rescue procedures in a timely and effective manner to save

lives and reduce losses in the event of an accident.

CAMFIL 2015 / 23

Sustainability Report

Page 24: Camfil Business Summary

Sweden

Supporting nature’s own air filtersCamfil headquarters and Camfil Sweden are helping the WWF (World

Wide Fund for Nature) preserve the Borneo rainforest, one of the most

important ecosystems on the planet.

Today, only half of Borneo’s original rainforest remains. Forests like

these are the natural air filters of the world, absorbing carbon dioxide

and producing oxygen – and cleaning the atmosphere by intercepting

airborne particles.

The money that Camfil donates goes to planting trees in the area of

Sebangau in south Borneo, a project in cooperation with local villages.

United Kingdom

A charitable yearThe British subsidiary, Camfil UK, had an event-packed year in 2015,

conducting charitable activities every single month to raise money for

cancer research, the British Heart Foundation, a cystic fibrosis fund, a

local lifeboat charity, and the Royal British Legion’s efforts to support

ex-serviceman.

On the community front, Camfil UK conducted an Easter egg drive

for the local food bank, donating eggs and soft toys.

On a year-long basis, Camfil UK donated blood at the local community

center and made regular donations to the local food bank. The company

has also continued its sponsorship of Herbie, a guide dog for the blind.

United States

Safer and cleanerwork environmentCamfil APC, a manufacturer of dust collectors in Arkansas, upgraded

its paint system in 2015 by converting a wet spray booth into a powder

paint batch booth for a safer and cleaner work environment.

The new powder paint system offers environmental, safety and

quality benefits by eliminating all HAPs (hazardous air pollutants) and

VOCs (volatile organic compounds) to significantly reduce employee

respiratory exposure hazards. The system also cuts solvent-based

liquid paint emissions during the drying process.

To further safeguard personnel health, Camfil APC also offered free

health screening to all employees in 2015.

Brazil

Clothing drive for the needyIn 2015, Camfil Brazil proudly

joined the annual “Winter Donation

Campaign” by the state of São

Paulo to collect clothes that are

sent to social institutions. The

objective of the drive is to provide

better conditions for needy people

during the coldest period of the

year. Employees donated a signifi-

cant quantity of useful items, such

as sweaters, shirts and pants.

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India

Certifications for facilities

Green Building Certification

In 2015, the U.S. Green Building Council (USGBC) awarded Camfil India’s

filter manufacturing facility in Gurgaon its Green Building Certification

(Silver Version 4). Gurgaon was said to be USGBC’s first project with

Version 4 certification in India.

ISO 14001 and OHSAS 18001

Following an audit in late 2015, Camfil Power Systems’ fabrication shop for

gas turbine products in Trichy, also used to assemble Camfil APC’s dust

collectors, was certified to ISO 14001 and OHSAS 18001 after clearing the

requirements for its integrated management system for managing quality

assurance, the work environment and occupational health and safety.

Middle East

Supporting youth footballCamfil Middle East believes in encouraging young talented people

and giving them opportunities. In the company’s eyes, this includes

supporting sport activities that serve as an ambassador of peace and

prosperity, especially in Middle Eastern countries where political and

social issues are still in need of work to return to stability.

Together with a partner and coach, more than 30 young players from

Iraq were trained to participate in a tournament in 2015. Hardworking

teams and better hope for the future encouraged these players to win

several games, allowing them to advance further in the tournament and

stay motivated for a victory.

CAMFIL 2015 / 25

Sustainability Report

Page 26: Camfil Business Summary

Ireland and Italy

Helping womenand hospitalsFor the last four years Camfil Ireland has supported the local women’s

Refuge, called Aoibhneass, which helps and supports children and

women who have been abused by their partners in the home.

In 2015, Camfil Ireland donated EUR 1,000 in donations

and also gave gifts at Christmas to the unit for the children.

Through its sales team, Camfil Ireland has also been involved

in supporting St James’s Hospital, one of the local healthcare

facilities in Dublin, purchasing two tables for the St James’s

Hospital Race Day event (right) and donating a prize for this

cause and EUR 1,000 in funds.

Air for life

Camfil Italy continued to help hospitals in 2015 by assisting

the Department of Pediatric Pulmonology at Regina Margherita Hospital

in Turin and the Regional Center of Reference for Cystic Fibrosis. The

goal was to reduce particle and microbiological contamination and

offer little patients affected by respiratory diseases better indoor air

quality inside ambulatories or common areas, thus reducing the risk of

microbiological contamination.

To this end, Camfil Italy assessed the indoor air quality inside the

rooms and proposed the most suitable filtration solutions for the areas.

Germany

Intelligent packing technology In 2015, Camfil Germany introduced a new packaging system that

reduces plastic waste and cardboard consumption while saving energy.

Cartons are individually adapted to the filter size – quickly and with

consistent quality. As the cartons fit the filters precisely, there is only a

minimum requirement for filling material.

This saves time and cuts costs for packaging, storage, transporta-

tion and shipment. For example, freight volumes have been reduced by

approximately 30 truck loads per year to lower carbon dioxide emis-

sions and waste quantities.

Malaysia

Reducing waste and injuriesCamfil Malaysia took additional steps in 2015 to reduce the amount of

waste generated from production operations. Hazardous waste, primar-

ily polyurethane, decreased from 28.43 metric tons in 2014, to 14.01

metric tons in 2015, or 51%. Landfill waste from all plant activities was

reduced an average of 21 metric tons per month to 15.6 metric tons,

a savings of about 27%.

The Malaysian plant also reviewed all causes behind hand injuries

to follow up the Camfil’s Hand Safety Campaign, conducted in 2014.

These injuries mainly happen during handling processes on the produc-

tion floor.

To minimize potential injuries, Camfil Malaysia conducted trail runs

with recommended gloves, introduced safety knives with self-retracting

blades, established “Do & Don’t” procedures to provide guidance when

handling equipment and product parts, and purchased closed-edge

pallets and trolleys.

Personnel were also trained in the new safety procedures and hand

and finger injuries were reduced by 89% in 2015, compared to 2014.

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Water use

TOTAL WATER USE M3

EEI* kSEK/T WATER M3

100000

80000

40000

20000

0

50 -

30 -

20 -

10 -

0 -

20

09

20

10

20

11

20

12

20

13

EEI

*Energy Efficiency Index

60000

60 -

40 -

20

14

20

15

Sustainability in the workplace

6.00%

5.00%

4.00%

3.00%

2.00%

1.00%

0.00%

20

09

20

10

20

11

20

12

20

13

Number of sick leave days

per 100 work days

20

14

20

15

20

08

Number of sick leave days

per 100 work days

0.35%

0.30%

0.25%

0.20%

0.15%

0.10%

0.05%

0.00%

Lost work days due to work-related injuries

per 100 work days

20

09

20

10

20

11

20

12

20

13

20

14

20

15

20

08

Lost work days due to work-related injuries

per 100 work days

* The charts above display the waste efficiency factor, energy efficiency factor and water efficiency factor as value created per unit of resource used (EEI = Eco-Efficiency Index).

Waste destination

2015

43%

LANDFILL INCINERATION RECYCLING

2007

51%

19%

30%

36%21%

Waste destination

LANDFILL INCINERATION RECYCLING

Energy use

Energy use

80

60

40

20

0

20

09

20

10

20

11

20

12

20

13

ENERGY CONSUMPTION OF FACTORIES GWH

EEI* = COG S/ENERGY USE SEK M/GWH

20

14

20

15

60

50

20

10

0

40

30

70

*Energy Efficiency Index

Waste

Waste

- 600

- 500

- 400

- 300

0

7000 -

6000 -

5000 -

4000 -

2000 -

0 -

TOTAL WASTE IN METRIC TONS

EEI* INDEX kSEK/METRIC TON

k/SEK/METRIC TON

20

09

20

10

20

11

20

12

20

13

20

14

3000 -

1000 -- 200

- 100

20

15

- 700

- 800

*Energy Efficiency Index

Water use

TOTAL WATER USE M3

EEI* kSEK/T WATER M3

100000

80000

40000

20000

0

50 -

30 -

20 -

10 -

0 -

20

09

20

10

20

11

20

12

20

13

EEI

*Energy Efficiency Index

60000

60 -

40 -

20

14

20

15

Water use

CAMFIL 2015 / 27

Sustainability Report

Page 28: Camfil Business Summary

How Human Resources and Internal Communication support Camfil’s strategy

Being a sustainable company helps position Camfil as first choice, not

only for employees but also for customers, suppliers, and partners.

Our mission to provide clean air, and our work with sustainable green

solutions, are part of our DNA and who we are as a company. It is impor-

tant for us to be clear about what Camfil offers and does not offer. By

taking this approach, we are more likely to recruit and retain the right

people who grow our business and share our values.

The Human Resources & Internal Communication (HRIC) function

has been increasingly strengthened the past few years and global

recruitment techniques, employee surveys and performance manage-

ment processes have been introduced to support Camfil’s strategy.

Winning the war for talent

Camfil understands the benefits of employing a diverse range of

talented individuals. As an equal opportunity employer, we take a

positive approach to diversity and use a global recruitment process to

select candidates with transparency, fairness and respect.

Today, talented individuals are more connected, informed and open

to new opportunities throughout their professional lives. During 2015,

we launched a global policy to secure professional and consistent

internal communications processes that support our business globally.

We also developed a new global intranet – Cintra – that is the hub of

our global information flow. We encourage employees to be Camfil

ambassadors and share information on Cintra to promote collaboration

across borders and business areas.

“Well-informed and empowered employees are a prerequisite for us to serve our customers in the best way.”Magnus Yngen

CEO of the Camfil Group

Growing and retaining talent

“People leave managers, not companies,” as the old saying goes. HR's

role is to ensure that Camfil has a sustainable approach to leading and

managing all employees. We concentrate on creating a work environment

that retains and builds engagement to grow our business.

During 2015, HR focused especially on leadership development for

sales people by implementing a global Sales Performance Evaluation

tool. The process is designed to support and develop sales managers

and sales people. It allows individuals to evaluate their core sales

competencies and to share and discuss their knowledge skills and

opinions with their line manager.

Camfil’s biannual global employee survey – CAMPAIR (Camfil

Personnel Attitude Involvement Research) – is another tool for mapping

and evaluating leadership and employee engagement. The next survey

will be conducted during 2016.

CAMFILINTRANET

CAMFIL 2015 / 28

Page 29: Camfil Business Summary

IAQ program for Swedish OlympiansAir pollution is often a subject of discussion because of the way it

impacts health and air quality in general, but also because it negatively

affects the performance of athletes (see page 9).

To investigate this more deeply, Camfil and

the Swedish Olympic Committee (SOC) are

now collaborating to document and verify how

clean indoor air of high quality can improve the

performance of Swedish athletes before and

during the 2016 Summer Olympics in Rio de

Janeiro. The study will especially evaluate how

athletes recover better and faster when breathing clean indoor air after

competing intensively in events and inhaling a higher concentration of

air pollutants under physical duress.

IAQ program

Camfil’s R&D team is managing the IAQ program in cooperation with

Karolinska Institutet. A number of Camfil products are being used in the

study, including City M air purifiers for the homes of athletes. Prior to

the Olympics, Camfil arranged a webinar to inform athletes more about

IAQ and the risks of breathing harmful pollutants.

Several athletes in study

The performance of several elite Swedish athletes is currently being

studied. Indoor air quality is also being monitored and measured with

Camfil’s IAQ tools and equipment.

Karolinska Institutet is conducting tests with biomarkers to

evaluate how the athlete’s recovery process benefits from clean air. To

increase the recovery process during the Olympics in Rio in 2016, all

Swedish teams will also be provided with a clean air environment while

living and sleeping in the Olympic Village.

The outcome of the IAQ program will be documented in a white

paper for all athletes that SOC can incorporate in its official programme

and recommendations.

CAMFIL 2015 / 29

Page 30: Camfil Business Summary

Camfil’s global organization

HEAD OFFICE

PRODUCTION UNIT, INCL. SALES

SALES OFFICE

AGENT

Camfil’s global organization

CAMFIL 2015 / 30

Page 31: Camfil Business Summary

Marketing & Products

Alain Bérard

Supply Chain

Stefan Larsson

CEO

Magnus YngenHR & Internal

Communication

Eva Bergenheim Holmberg

Finance

Per Carlsson

Filter Americas

Armando Brunetti

Filter Northern Europe

Anders Freyschuss

Filter Continental

Europe & British Isles

Mark Simmons

Filter APAC & ME

Suresh Balan

Power Systems

Fredrik Westgård

APC

Christian Debus

CAMFIL 2015 / 31

Page 32: Camfil Business Summary

CAMFIL 2013 / 87

1963 Camfil establishes joint venture with Cambridge USA

1966 Camfil Germany, founded

1969 Camfil Switzerland, founded

1972 Camfil Denmark, founded

1973 Camfil Netherlands, founded

1974 Camfil Belgium, founded

1975 Camfil Italy, founded

1976 Camfil France, founded

1979 Camfil Finland, founded

1982 Camfil UK, founded

1983 Camfil becomes independent

1985 Purchase of Allied Filters & Pumps, Ireland

1989 Purchase of Sofiltra, France, and Filtra, USA

1995 Camfil Component Sweden, founded / Camfil Spain, founded

1997 Purchase of Automet Filtration Ltd, UK / Camfil Malaysia, founded

1998 Purchase of Industrifilter AB, Sweden

1999 Purchase of Delcon Filtration Group Inc., Canada

2000 Camfil Australia, founded / Camfil Poland, founded / Representative Office established in Shanghai, China

2000 Ratos purchases 30% of Camfil Farr in connection with the acquisition of Farr Co., USA

2001 Camfil New Zealand, founded / Nordfilter AB purchased / Camfil China, founded

2002 Plant opened in China

2003 Two plants in Malaysia combined

2004 Camfil Thailand, founded / Representative Office established in Moscow, Russia

2005 Camfil Brazil, founded / Plant opened in Mexico

2006 Purchase of Australian Air Filters / Purchase of Kaefer Raco, Germany / Purchase of IF Luftfilter AB, Sweden

2007 Camfil Slovakia, founded / New plant in China opened / Camfil Japan, founded / Camfil Taiwan, founded / Purchase of Kaare Rustad AS, Norway

2008 JV with Anand Group, India / Acquisition of Air Care Technology Ltd and Total Air, New Zealand

2009 Acquisition of Mecke Klima GmbH, Austria

2010 Opening of Camfil's new state-of-the-art Technology Center in Trosa, Sweden

2011 Exit of minority shareholder (Ratos) / Camfil Middle East, founded / Camfil India becomes wholly owned / New production hub for Power Systems in Trichy

2012 Opening of Camfil's first Airborne Molecular Contamination (AMC) Service Center, situated in Taiwan / Railroad unit divested

2013 Opening of new factory in Heywood, UK to manufacture Air Pollution Control products / Office established in Istanbul, Turkey

2014 Acquisition of Handte Group (Germany) to expand APC product line / New production plant in Sao Paulo, Brazil to serve the Latin American market

2015 Acquisition of two distributorships, Air Filter Service and Environmental Filtration, United States; acquisition of Nufilter Scandinavia, Sweden

Historical timeline

Camfil Group

Page 33: Camfil Business Summary

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Camfil Business Summary 2015

www.camfil.comFor further information please contact your nearest Camfil office.

Camfil – a global leader in air filters and clean air solutionsCamfil is a global leader in the air filtration industry with more than half a century of experience in developing and manufacturing sustainable clean air solutions that protect people, processes and the environment against harmful airborne particles, gases and emissions.

These solutions are used globally to benefit human health, increase performance and reduce energy consumption in a wide range of air filtration applications.

Our 25 manufacturing plants, six R&D sites, local sales offices and 3,800 employees provide service and support to our customers around the world.

Camfil is headquartered in Stockholm, Sweden. Group sales total more than SEK 6 billion per year.