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F WULFF GROUP PLC Half - Year Financial Report | July 26 , 2021 at 10.45 A.M. REPORT FOR JANUARY 1 WULFF GROUP PLC'S HALF - YEAR FINANCIAL JUNE 30 , 2021 The acquisition boosted revenue and operating profit growth 1.4 . - 30.6.2021 BRIEFLY • • • Wulff became the market leader by acquiring workplace products and services expert Staples Finland Ltd and its Finnish parent company EMO Finland Ltd ( hereinafter Wulff Solutions ) on May 3 , 2021 for EUR 6.0 million Net sales totaled EUR 23.2 million ( 15.1 ) , an increase of 54.1 % EBITDA grew to EUR 5.1 million ( 1.7 ) and comparable EBITDA was EUR 1.3 million ( 1.7 ) Operating profit was EUR 4.6 million ( 1.2 ) and comparable operating profit ( EBIT ) was EUR 0.8 million ( 1.2 ) Earnings per share ( EPS ) was EUR 0.65 ( 0.09 ) and comparable earnings per share ( EPS ) was EUR 0.09 ( 0.09 ) The equity ratio was 33.0 % ( 38.9 ) Wulff updated the outlook for comparable operating profit on May 3 , 2021 ; Wulff estimates that the net sales will grow to approximately EUR 90 million in 2021 ( EUR 57.5 million in 2020 ) , operating profit will grow significantly from the previous year and comparable operating profit will remain at a good level in 2021. Wulff maintains the operating guidelines for operating profits and updates the outlook for net sales : net sales are predicted to grow to more than EUR 90 million . 1.1 . - 30.6.2021 BRIEFLY Net sales totalled EUR 38.5 million ( 29.8 ) , increased by 29.3 % • • EBITDA was EUR 6.0 million ( 2.4 ) and comparable EBITDA was EUR 2.3 million ( 2.4 ) Operating profit was EUR 5.1 million ( 1.5 ) and comparable operating profit ( EBIT ) was EUR 1.4 million ( 1.5 ) Earnings per share ( EPS ) was EUR 0.68 ( 0.09 ) and comparable earnings per share was EUR 0.13 ( 0.09 ) WULFF GROUP PLC'S CEO ELINA PIENIMÄKI " Thanks to the acquisition of Staples ' Finnish operations in May , we are now the market leader in work environment products and services in Finland . With the acquisition in line with our strategy , our service offering expanded , our purchasing power increased and our ability to renew our product and service offerings and invest in digitalisation improved . I am pleased with the positive feedback we have received regarding the acquisition from our customers , partners , staff and owners . The two companies , which have both been operating in the market for more than 130 years , have the optimum conditions for merging their operations : the companies are achievers of a pandemic year capable of renewal and adaptation . Moreover , the values that guide their operations and the operating models are similar . The merge will create a strong foundation for future growth through economies of scale . The merger is proceeding as planned . Our goal is a unified , customer - oriented and efficient management and operating model in Finland . Our goal is to achieve annual synergy benefits of approximately EUR 3 million by 2023. Benefits are expected as early as the end of 2021 and more broadly next year . A wider product range brings additional sales and efficient operating models increase productivity and the quality of the customer experience , and thereby increase competitiveness . We can offer employees more career options and be a more attractive employer . The transaction was a growth leap for us to become a major domestic player in our industry , and the business outlook is positive for us . We are a competitive and attractive partner : responsibility , locality and multi - channel as values and features invite more and more companies to partner . Combined with the best sales expertise in the Nordic countries , active acquisition of new customers and an international partner network , growth is possible in the future as well . " WO W W Wulff Group Plc | Kilonkartanontie 3 , 02610 Espoo tel . +358 300 870 414 info@wulff.fi www.wulff.fi/en/ W WO 1890 WULFF