Novedo contemplates bond issue – publishes Q4 2022 and FY 2022 preliminary results

Stockholm, 15 February, 2023 (08:00 CET)

Novedo Holding AB (publ) (”Novedo” or the “Company”) experienced continued strong growth and stable development during 2022. Preliminary, pro forma FY 2022 net revenue* amounted to SEK 2,397m with preliminary pro forma EBITDA of SEK 299m. The Company has a strong momentum for further acquisitions and has, at the date hereof, signed four additional non-binding letters of intent regarding acquisitions with an aggregate revenue and EBITDA of SEK 592m and SEK 87m, respectively.

To finance aforementioned acquisitions, Novedo has mandated ABG Sundal Collier AB and Pareto Securities AB as joint bookrunners to arrange fixed Income Investor meetings commencing 16 February 2023 to explore the possibility to issue subsequent senior secured bonds with a targeted amount of SEK 250m (the "Bond Issue") within the existing framework of the Company's senior secured bonds 2021/2024 with ISIN: SE0017070980. The total outstanding volume of the bonds is today SEK 1,000m within a framework of maximum SEK 1,500m. The Bond Issue is intended to be carried out subject to prevailing market conditions. Since 28 October 2022, the bonds are listed on the corporate bond list of Nasdaq Stockholm.

In connection with a successful bond Issue, Novedo's largest owner, Esmaeilzadeh Holding AB (publ), has committed to provide SEK 100m in a subordinated shareholder loan, with maturity after the bonds.

Due to the above-mentioned potential transaction and upcoming investor meetings, Novedo publishes preliminary Q4 2022 and FY 2022 results. The year-end report for 2022 will be published on 23 February 2023.

Period October – December 2022

• Net sales increased by 196 percent and amounted to SEK 603.0m (203.8), with an organic growth of 8.9 percent.
• EBITDA increased and amounted to SEK 76.0m (24.6).
• EBITA increased to SEK 60.7m (20.0).
• EBIT increased to SEK 50.9m (16.4).

Period January – December 2022

• Net sales increased by 378 percent and amounted to SEK 1,773.4m (370.9), no organic growth is provided due to lack of comparable data.
• EBITDA increased and amounted to SEK 192.2m (39.6).
• EBITA increased and amounted to SEK 153.6m (31.0).
• EBIT amounted to SEK 122.5m (23.3).
• Cash and cash equivalent amounted to SEK 189.0m (821.4).
• Interest-bearing debt amounted to SEK 1,066m (796).
• Total equity amounted to SEK 468m (383.2).
• Total assets amounted to SEK 2,294m (1,475).

*Pro forma refers to the period January 2022 – December 2022 for the companies Novedo has fully acquired and has been recalculated to show the results as if Novedo had owned the companies throughout the entire period.