Interim report January–March 2024 – HAKI Safety AB (publ)

“Improved gross margin in a continued soft market,” Sverker Lindberg, President and CEO

First quarter 2024

• Net sales declined 32 percent to SEK 242 M (355). Organically, net sales declined 27 percent.
• Adjusted EBITA declined and amounted to SEK 14 M (34).
• Operating profit declined SEK 25 M and amounted to SEK 7 M (32). Non-recurring items of SEK 5 M regarding the divestment of FAS Converting Machinery had a negative impact on the operating profit.
• Net result after tax was SEK 4 M (19).
• Cash flow from operating activities amounted to SEK -18 M (60).
• Earnings per share before dilution totalled SEK 0.15 (0.70) and after dilution SEK 0.15 (0.69).
• New financial targets and a new reporting structure were presented at the Capital Markets Day on March 14, 2024.
• A new warehouse and office were established in Stavanger, Norway, to meet the increasing demand for the energy sector in Norway.
• The divestment of FAS Converting Machinery was finalised during the first quarter.

This is a translation of the Swedish original version. If there are any differences between this translation and the original Swedish language, the latter shall prevail.

Financial summary	2024 Q1	2023 Q1	2023 Q1-Q4
Net sales	242	355	1,188
Gross profit	87	112	397
Adjusted EBITA	14	34	95
Operating profit	7	32	99
Profit before tax	4	25	78
Net result	4	19	62
Net sales, growth %	-31.8	26.3	1.7
Gross margin, %	36.0	31.5	33.4
Adjusted EBITA, %	5.8	9.6	8.0
Operating margin, %	2.9	9.0	8.3
Earnings per share, before dilution, SEK	0.15	0.70	2.27
Earnings per share, after dilution, SEK	0.15	0.69	2.24
Cash flow operating activities, SEK	-18	60	153
Financial net debt, SEK M	285	278	298
Financial net debt / Adjusted EBITDA excl. IFRS 16, times	2.2	1.9	1.9
Equity/assets ratio, %	49	42	48

For more information, contact

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Sverker Lindberg, President and CEO
Email: [e-mail]
Phone: [phone]

Tomas Hilmarsson, CFO
Email: [e-mail]
Phone: [phone]

About HAKI Safety AB (publ)

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HAKI Safety (formerly Midway Holding) is an international industrial group, focusing on safety products and solutions that create safe working conditions at temporary workplaces. The group has annual sales of about SEK 1.2 billion and has since 1989 been listed on the Nasdaq Stockholm Small Cap. HAKI Safety offers a wide range of products and solutions within system scaffold and work zone safety, and digital and technical solutions that help customers achieve safety and efficiency in their environments.

This information is information that HAKI Safety AB (publ) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-04-22 13:00 CEST.

Attachments

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Interim Report Q1 2024 HAKI Safety AB (publ)

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