C-RAD

C-RAD’s annual report for 2023 has today been published online in Swedish and English at the company’s website, https://c-rad.com/investors/financial-reports/

In the published annual report, C-RAD’s profit for 2023, has been charged with an additional
-10.5 MSEK as a consequence of the decision from the Supreme Court in February 2024. This amount is the company’s assessment based on the court ruling. The amount relates to compensation for all periods up to 31st of December 2023.

In accordance with the press release published on the 22nd of February 2024, the Supreme Court announced that it would not grant leave to appeal in the dispute between C-RAD and a former employee. This decision upholds the ruling of the Patent and Market Court of Appeal on 30th of June 2023. As a consequence of the Supreme Court’s decision, in the annual report for 2023, C-RAD has charged the Group’s profit for the year, as reported in the year-end report for 2023, with an additional -10.5 MSEK. See note 33 for how the various adjusting items have been accounted.

The auditor’s report is deviating from what is common, as a remark is stated by the auditor related to that social security taxes and value added taxes were not paid in due time on several occasions during the year in the parent company. C-RAD notes that the delays have not occurred by insufficient liquidity, but due to temporary deficiencies in the administrative routines. The latter have now been corrected to make sure that this should not be repeated, please refer to the Corporate governance report.

The annual report is available at www.c-rad.com and printed annual reports are available for shareholders and other stakeholders at the company’s office.

The annual report is published in accordance with the demands stated in European Single Electronic Format (ESEF). In accordance to the demands in ESEF, the annual report is mapped with XBRL-tags. ESEF-files can be downloaded at www.c-rad.com.