Condo Nordic Holding AB (publ) approved for listing on Spotlight Stock Market and secured solid sales for 2024

Condo Nordic Holding AB (publ) (“Condo”) has received approval from Spotlight Stock Market for its upcoming listing. Trading is set to commence on July 8, 2024. This follows the recent announcement by Spotlight Stock Market confirming Condo’s approval for listing.

Condo offers home-like long-term accommodation solutions to clients mainly within the energy, infrastructure, and construction sectors. While most operations are based in Finland at the moment, the primary market focus is on the Nordic countries, with significant clientele originating from outside the Nordics.

Condo has secured agreements worth SEK 29 million for the upcoming months, with estimated total sales for 2024 projected to be in the SEK 35-40 million range. The company is cash-flow positive and is not raising capital in connection with the listing.

-The approval for Condo Nordic Holding AB (publ) to be listed on Spotlight Stock Market is a significant milestone for the company. It reaffirms our commitment to providing long-term accommodation solutions to corporate clients and will enable us to a faster expansion going forward. We are pleased with the strong sales and cash flow we have experienced in 2024. We are optimistic about our prospects, especially with the secured agreements and projected sales for the upcoming months. We remain focused on delivering value to our clients and shareholders as we move forward with this exciting new chapter for Condo, says Ville Valorinta, CEO of Condo Nordic Holding AB.

After a period affected by a postponement of several major projects in late 2023 and early 2024, Condo has seen robust sales and cash flow from the second quarter of 2024 onwards and has already secured agreements worth almost 30 MSEK for 2024. The Company aims to pursue growth opportunities in the Nordic countries by focusing on organic expansion and strategic acquisitions. This entails seeking potential markets and businesses for partnerships or takeovers to strengthen Condo’s regional presence.

-During its nearly ten years of operation, Condo has demonstrated its strength in delivering high-quality project accommodation services to customers reliably and cost-effectively. The company has had a steady growth trend, and it is particularly noteworthy that every fiscal year in the company's history has been profitable. The demand for homelike long-term accommodations is growing globally, and Condo strongly believes in its growth opportunities in both existing and new markets. Listing on Spotlight Stock Market is an important step and a key part of our strategy. We warmly welcome all our new and future owners to join us on our growth journey, Valorinta concludes.

Energized by the upcoming stock market listing, Condo continues to focus on good and fast customer service, innovation and providing high-quality service that meets the current and future needs of customers.

The listing memorandum will be available at the company’s website, www.condoholding.com from July 5 2024.

Information about the share:

• First trading date at Spotlight Stock Market: July 8, 2024
• Shortname: CONDO
• ISIN: SE0020845089