Kollect on Demand Holding AB (publ) announces gradual lifting of Covid-19 restrictions on the construction industry in Ireland and a corporate re-organisation

The Irish Government is lifting Covid-19 restrictions on all residential construction which can restart work as well as early-learning and childcare projects effective from Monday, April 12, 2021. In addition, subject to the prevailing health situation, the Irish Government announced the full reopening of the construction industry effective from Monday, May 4, 2021.

Kollect also announces that it has set up a separate wholly-owned Irish subsidiary called Kollect Recycling and Waste Collection Limited (“KRWC”), which has acquired the domestic and commercial bin collection business from Kollect On Demand Limited at book value. KRWC became the operational company for the bin collection business in Ireland with effect from March 1, 2021.

Kollect provides domestic and commercial bin collection services to over 5,000 customers in the Waterford City area. It offers domestic customers an annual contract or Pay-As-You-Go payment.

Kollect has seen continued growth in its waste collection business in Ireland, with revenues up 29% in the twelve-month period March 2020 to February 2021 compared to the prior twelve months. This growth was supported by high gross margins, in line with industry expectations.

As with the successful re-organisation of the ‘waste drop-off’ business into BIGbin Waste Technology Limited in July 2020, the purpose of this re-organisation is to bring increased focus on and transparency to the economics of the bin collection business. It will also make it easier to raise funding specifically to support continued growth in this business by acquiring new customers and to grow the business by acquisition.

Comment by John O’Connor, VD

“We were happy to service our construction customers throughout the restrictions, and now as the government relaxes restrictions, we look forward to expanding our relationships with existing customers and onboarding new customers.

Regarding the new subsidiary, we have seen the benefit of organising the BIGbin business into its own legal entity, and we look forward to enjoying some of these benefits in the new Kollect Recycling and Waste Collection business.”

About Kollect

Founded in Waterford, Ireland, Kollect is an innovator and disruptor in the waste industry listed on the Nasdaq First North Growth Market (symbol: KOLL) and Mangold Fondkommission AB is the Company’s acting Certified Adviser (Tel. + 46 8 5030 1550, [email protected], www.mangold.se).

Kollect is an innovator and disruptor in the waste industry. The Company services two types of customers: those who arrange to have waste collected (bins, skips or junk removal) via the online Kollect booking engine; and those who use BIGbin smart compactor bins for waste drop-off. For further information, please contact John O’Connor, VD

+353 87-1218907 | [email protected] | www.kollect.ie