HANZA

First quarter 2023

• Net sales increased by 29% to SEK 1,065 million (824).
  Adjusted for acquisitions and currency, the organic growth amounted to 23%.
• Operating profit (EBITA) increased to SEK 88 million (41), corresponding to an operating margin of 8.3% (5.0). The margin was positively affected by received energy subsidy of SEK 6 million.
  Excluding this item, the operating profit amounted to SEK 82 million, corresponding to an operating margin of 7.7%.
• Profit after tax amounted to SEK 59 million (19), corresponding to SEK 1.49 (0.54) per share
  before dilution and SEK 1.47 (0.53) after dilution.
• Cash flow from operating activities amounted to SEK 89 million (13).

CEO Erik Stenfors comments

"HANZA is growing for solid reasons. Firstly, we have developed a diversified customer portfolio with successful customers in various growth industries. Secondly, the time is right for HANZA's business model with regional and complete manufacturing, which drives new sales."

"In terms of earnings, this is our strongest quarter to date. The operating margin, excluding energy subsidy, was 7.7% and the company's earnings per share reached an all-time high of SEK 1.49 for the quarter. This can be compared to SEK 3.35 for the fiscal year 2022."

"We continue to generate a strong cash flow, SEK 89 million for the first quarter, which means that we can continue to reduce debt. Our net debt to EBITDA ratio is now 1.6 times, compared with 2.7 times a year ago."

"In March we presented a revised sustainability strategy with new and raised targets, which are also described in this report. Sustainability has been a fundamental part of our strategy since we started HANZA and it drives success - for everyone.”