Q2 2023: Strong growth and solid development

• Net sales increased by 66.8 percent to SEK 721.5 million (432.5), of which organic growth amounted to 2.9 percent.
• EBITA increased to SEK 89.8 million (31.9) and the EBITA margin was 12.4 percent (7.4).
• EBIT for the quarter amounted to SEK 75.7 million (25.1).
• Cash flow from operating activities amounted to SEK 15.1 million (-12.8).
• The subsidiary GBB group made a strategic add-on acquisition via Dundertech AB, a specialized product company in the rock industry.
• Daniel Kral joined on June 1, 2023, as Head of M&A Germany with the aim of leading Novedo's acquisition activities in the German market.

Period (January–June 2023)

• Net sales increased by 83.8 percent to SEK 1,310.7 million (713.1), of which organic growth amounted to 5.0 percent.
• EBITA increased to SEK 136.3 million (43.5) and the EBITA margin amounted to 10.4 percent (6.1).
• EBIT for the period amounted to SEK 109.8 million (31.4).
• Cash flow from operating activities amounted to SEK 68.0 million (-24.9).
• Helsingborgs Byggplåt AB, Stantraek A/S, and Dundertech AB with combined annual sales for 2022 of approximately SEK 367 million were acquired and acquired.
• In February 2023, an additional SEK 250 million in bonds was issued within the framework of the company's bond loan 2021/2024. At the same time, Novedo's principal shareholders committed to a subordinated shareholder loan of SEK 100 million that matures after the maturity date of the bond loan.

Significant events after the balance sheet date

• As part of the stock exchange preparatory activities, Novedo has convened an Extraordinary General Meeting on September 21, 2023, to resolve amendments to the Articles of Association, share split, authorization for new issues of shares, and directed new issues to handle the current ownership structure.

Per-Johan Dahlgren, President & CEO, comments on the first half period of 2023:
Novedo shows strong growth and solid development in the first half of 2023. Net sales and EBITA over the rolling 12 months increased to SEK 2,370.9 million and SEK 246.4 million, respectively. We continue to see good growth opportunities and we have several attractive acquisitions under evaluation. The Novedo companies' strong and established market positions, service and product offerings, and diversified customer base have shown good resilience in the uncertain economic situation that has characterized recent years. This, combined with good existing demand and favorable structural trends in, for example, electrification, energy optimization, sustainable infrastructure investments, and European component and system manufacturing, constitutes a solid platform for continued positive development.