Year-end report 2023 – HAKI Safety AB (publ)

“Good end to the year with improved profitability and strong cashflow”
Sverker Lindberg, President and CEO

Fourth quarter 2023

• Net sales increased 4 percent to SEK 271 M (261). Organic growth was 3 percent.
• EBITA increased SEK 30 M to SEK 15 M (-15). Restructuring costs had a negative effect on the result by SEK -5 M (-11).
• Operating profit increased SEK 19 M to SEK 19 M (0). Revaluation of earnouts and write-downs of acquisition-related assets had a net effect on the result by SEK 7 M (18).
• Net result after tax was SEK 7 M (-10).
• Cash flow from operating activities was SEK 71 M (-16).
• Earnings per share before dilution was SEK 0.26 (-0.37) and after dilution SEK 0.25 (-0.36).
• The group was renamed HAKI Safety in December 2023.
• Earnout for the acquisition of Novakorp Systems was renegotiated with a reduction of the maximum amount to EUR 5 M (7) and with an extended earning period.
• FAS Converting Machinery was divested on January 24, 2024.

January – December 2023

• Net sales increased 2 percent to SEK 1,188 M (1,168). Organic net sales reduction was 12 percent.
• EBITA increased SEK 6 M to SEK 90 M (84).
• Operating profit decreased SEK 3 M to SEK 99 M (102).
• Net result after tax was SEK 62 M (71).
• Cash flow from operating activities was SEK 153 M (-53).
• Earnings per share before dilution was SEK 2.27 (2.60) and after dilution SEK 2.24 (2.57).

Dividend

• The Board of Directors proposes the Annual General Meeting a dividend of SEK 0.90 per share (0.80).

This is a translation of the company’s Interim Report in Swedish.