Interim report
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First quarter 2025 Significant events during the quarter • Net sales increased 23% to MSEK 1,210.2 (985.1). • Adjusted EBITA increased 34% to MSEK 52.6 MSEK (39.3), corresponding to an adjusted EBITA margin of 4% (4). • Profit for the period amounted to MSEK –16.1 (–11.3). • Diluted earnings per share for continuing operations amounted to SEK –0.29 (–0.03). • Cash flow from operating activities amounted to MSEK –0.4 (106.5). • The Group’s cash and cash equivalents and unutilized credit facilities amounted to MSEK 216.1 (243.7) on March 31, 2025. • On January 30, 2025, Pamica Group’s bonds were admitted to trading on the Transfer Market segment of the Nasdaq First North Bond Market. • On January 31, 2025, Pamica Group AB divested all subsidiaries owned by Safe Solutions Consulting i Sverige Holding AB. See section Acquisitions and divestments on page 7 for more information. • On February 20, 2025, Pamica Group announced that its subsidiary Eskilstuna Dynamics Holding AB (EDAB) had received a notice of arbitration from the SCC Arbitration institute regarding a claim of MSEK 50 for alleged breach of the SPA. Both EDAB and Pamica assess the claim as unfounded and have therefore contested it. • On March 25, 2025, Pamica Group AB announced that CFO Anders Maiqvist has resigned, and that Jan-Olof Svensson took on the role as acting interim CFO, in addition to his role as CEO. Significant events after the quarter • Pamica Group has signed an agreement with the related-party company Pamica 5 AB under which Pamica Group sells management services to Pamica 5 and Pamica Group has the option to acquire the subsidiaries in Pamica 5 in the future. Pamica 5 has completed a funding round under which a large number of investors have committed to invest up to MSEK 340. Interim report Jan-Mar 2025 Pamica Group AB Summary of performance 1) Financial metrics defined according to IFRS. Definitions and explanations of the use of alternative performance measures are presented in the table on page 19. Reconciliation tables for alternative performance measures are presented on page 21. 2) Includes discontinuing operations. R12M FY Continuing operations 2025 2024 Δ% 24/25 2024 Net sales1), MSEK 1,210.2 985.1 23% 4,852.7 4,627.6 Organic net sales growth, % -2 1 -3 pp 0 1 EBITA, MSEK 46.8 28.4 65% 308.9 290.6 Adjusted EBITA, MSEK 52.6 39.3 34% 369.0 355.8 Adjusted EBITA margin, % 4 4 0 pp 8 8 Organic EBITA growth, % -43 -54 11 pp 2 7 EBIT1), MSEK 24.9 9.1 173% -111.1 -126.9 EBIT margin, % 2 1 1 pp -2 -3 Profit for the period1), MSEK -16.1 -11.3 -43% -376.2 -371.4 Diluted earnings per share continuing operations1)2), SEK -0.29 -0.03 -867% -2.21 -2.02 Return on capital employed2), % 7 5 2 pp 7 7 Return on equity2), % -15 -0 -15 pp -15 -14 Cash flow from operating activities1)2), MSEK -0.4 106.5 -100% 337.4 466.2 Net debt/adjusted EBITDA R12M, x 3.5 3.7 -0,2x 3.5 3.3 Q1
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Pamica Group AB | Interim Report Jan-Mar 2025 2 CEO’s comments During the quarter, the Group’s companies succeeded in maintaining the level of sales compared with the year-earlier quarter, despite the uncertain economic and geopolitical situation. Profitability was also in line with last year but was at lower levels than we expect over time even for the first quarter of the year, which is seasonally weak for Pamica. Net sales increased 23% to SEK 1.2 billion, of which organic growth amounted to –2%. Acquired growth includes SKAB- Gruppen and HGM, which is an add-on acquisition to Beans in Cup. Adjusted EBITA increased 34% to MSEK 53, corresponding to an adjusted EBITA margin of 4%. However, organic EBITA growth was –43%. This decline was mainly due to the weak performance in segment Innovations. Expected orders for Delta Group have been postponed and the comparative quarter for Stapp Group included a large one-off order. Cash flow and financial position Cash flow from operating activities was weak for the quarter at MSEK -0.4, compared with MSEK 106.5 for the comparative quarter. This trend was attributable to changes in working capital, which declined MSEK 110.0. Our leverage ratio, measured as net debt/adjusted proforma EBITDA R12M, amounted to 3.5x at the end of the quarter, compared with 3.7x for the comparative quarter and 3.3x for the preceding quarter. Focus on improving profitability and cash flow Our focus on strengthening the profitability of our companies is continuing at full forces, but, as always, it takes some time for the implemented measures to be reflected in earnings. In addition, we want to achieve stable earnings over the year and predictable quarter-by-quarter cash conversion that is acceptable for our type of operations. Structural plan for higher margins and lower leverage Accordingly, we continued our efforts during the quarter to implement the structural measures I outlined in my previous CEO comment, to thereby reduce leverage in the Group and increase profitability. This process partly involves streamlining and partly acquiring companies that strengthen our existing portfolio of companies, mainly through add-on acquisitions. One step in this is that a large number of investors have committed to invest up to MSEK 340 in a fund structure outside Pamica Group, Pamica 5 AB. 87% of the capital comes from Pamica Group’s current owners and 13% from new investors. Pamica Group sells management services to Pamica 5 and the businesses have also entered an agreement under which Pamica Group has the option to acquire the companies in Pamica 5. Pamica Group’s acquisitions will be carried out in a similar way as previously – on the basis of a non- cash issue for which Pamica Group has a preemptive right. However, this will be subject to a decision/approval of the shareholders of Pamica Group and Pamica 5 and Pamica Group’s lenders. The overall aim of this agreement is to increase the Group’s EBITA margin and balance the portfolio through acquisitions. We are also strengthening existing portfolio companies where the Board and management of Pamica Group see that Pamica can add value in the long term. It is therefore extremely gratifying in this context to announce today Pamica 5’s first acquisition of just over 75% of the shares in HTSM Eskilstuna. HTSM serves as the main supervisor in Sweden in close collaboration with the Swedish Transport Administration as a traffic coordinator and construction traffic manager in connection with work being performed on and around railway tracks. The business reports healthy growth and generated sales of just over MSEK 64 in 2024. Good leadership in our companies is the key to success Over the past year, many of our companies have gained new leadership, often as a natural handover from skilled entrepreneurs who built up the businesses and sold them to Pamica. Today we are all coming together at our quarterly CEO meeting to discuss action plans for the quarters ahead – to together continuing building the Great Companies that are our hallmark at Pamica! Jan-Olof Svensson President and CEO Pamica Group AB
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Pamica Group AB | Interim Report Jan-Mar 2025 3 Financial performance, Group Net sales The Group’s net sales for the first quarter amounted to MSEK 1,210.2 (985.1), corresponding to an increase of 23%. The organic growth for the first quarter was MSEK –20.5 (10.4), corresponding to negative organic net sales growth of –2% (1). In addition to the negative organic net sales growth, the businesses SKAB and HGM, an add-on acquisition of the subsidiary Beans in Cup, contributed with acquired net sales in the first quarter. Profit Adjusted operating profit before acquisition-related amortization (adjusted EBITA) increased to MSEK 52.6 (39.3) in the first quarter, corresponding to an adjusted EBITA margin of 4% (4). Adjusted EBITA was adjusted in the first quarter for other items affecting comparability of MSEK –5.7, attributable primarily to ongoing reorganization and restructuring and acquisition-related items affecting comparability of MSEK –0.1. In the comparative quarter, adjustments consisted of MSEK –10.9 for other items affecting comparability primarily attributable to reorganization and restructuring. The profitability of the Group was similar to the comparison quarter, but there are significant differences within the three segments, with the Industry segment reporting an adjusted EBITA margin of 9% (1) while the Innovations segment reported an adjusted EBITA margin of 11% (31). The Services segment reported only a minor change with an adjusted EBITA margin of 0% (–1). Operating profit, EBIT, for the first quarter was MSEK 24.9 (9.1), corresponding to an EBIT margin of 2% (1). EBIT includes items affecting comparability, specified above, totaling MSEK –5.8 (–10.9). Pamica Group: Net sales, R12M, MSEK Pamica Group: Adjusted EBITA, R12M, MSEK 0 1,000 2,000 3,000 4,000 5,000 6,000 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Net sales 0% 5% 10% 15% 0 100 200 300 400 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Adjusted EBITA Margin, %
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Pamica Group AB | Interim Report Jan-Mar 2025 4 Financial performance, segment Industry Net sales Net sales in the first quarter amounted to MSEK 419.7 (217.4), corresponding to an increase of 93%. SKAB-Gruppen was the main contributor to the strong sales growth. Organic growth in the Industry segment in the first quarter, excluding the SKAB-Group, amounted to MSEK –19.3, corresponding to negative organic net sales growth of –9%. Profit Adjusted operating profit before acquisition-related amortization (adjusted EBITA) amounted to MSEK 38.3 (3.2) in the first quarter, corresponding to an adjusted EBITA margin of 9% (1). Adjusted EBITA was adjusted in the first quarter for other items affecting comparability, attributable to ongoing reorganization and restructuring, of MSEK –1.0. In the comparative quarter, no adjustments were reported. SKAB-Gruppen contributed MSEK 27.7 in adjusted EBITA in the first quarter while organic adjusted EBITA growth in the Industry segment amounted to MSEK 7.4. Industry: Net sales, R12M, MSEK Industry: Adjusted EBITA, R12M, MSEK 0 500 1,000 1,500 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Net sales 0% 5% 10% 15% 0 50 100 150 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Adjusted EBITA Margin, % The companies in segment Industry produce and sell customized solutions and systems that are often developed in close cooperation with customers. With a high level of technical expertise, these businesses add value for customers by strengthening their processes and end products. Absortech, Alltronic, Artex, Logiwaste, SKAB, Solideq and Vefi are included in the segment, which in 2024 reported net sales of MSEK 1,219 and an adjusted EBITA of MSEK 105.
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Pamica Group AB | Interim Report Jan-Mar 2025 5 Financial performance, segment Services Net sales Net sales for in the first quarter amounted to MSEK 641.2 (608.0), corresponding to an increase of 5%. Organic growth in the quarter, excluding HGM acquired by Beans in Cup in May 2024, amounted to MSEK 9.2, corresponding to organic net sales growth of 2%.. Profit Adjusted operating profit before acquisition-related amortization (adjusted EBITA) increased to MSEK 1.1 (–6.3) in the first quarter, corresponding to an adjusted EBITA margin of 0% (–1). Adjusted EBITA was adjusted in the first quarter for other items affecting comparability attributable to reorganization and restructuring of MSEK –4.8 and acquisition-related items affecting comparability of MSEK –0.1. In the comparative quarter, adjustments consisted of MSEK –8.6 for other items affecting comparability, primarily attributable to reorganization and restructuring. Organic adjusted EBITA gowth, excluding HGM, amounted to MSEK 4.8. The improved profitability in the Services segment is primariy attributable to Houser and PPP. Services: Net sales, R12M, MSEK Services: Adjusted EBITA, R12M, MSEK 0 1,000 2,000 3,000 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Net sales 0% 5% 10% 15% 20% 0 50 100 150 200 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Adjusted EBITA Margin, % The companies in segment Services are service companies with strong positions in specific niches. The segment is divided into the two verticals: B2B, which includes Alfa Mobility, Beans in Cup, Freys Express, PPP and IM Vision, and B2C, which includes Houser Group and Sappa. In 2024, the segment reported net sales of MSEK 2,771 and an adjusted EBITA of MSEK 131.
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Pamica Group AB | Interim Report Jan-Mar 2025 6 Financial performance, segment Innovations Net sales Net sales in the first quarter amounted to MSEK 147.5 (159.9), corresponding to a decrease of –8%. Negative organic net sales growth is also –8%. The net sales decrease is attributalble to negative net sales growth in Stapp Group and Delta. Profit Adjusted operating profit before acquisition-related amortization (adjusted EBITA) increased to MSEK 16.5 (49.2) in the first quarter, corresponding to an adjusted EBITA margin of 11% (31). There are no items affecting comparability in the Innovations segment in the first quarter, nor in the comparative quarter. The lower profitability within the segment is primarily attributable to Stapp Group and Delta as well as minor impact from Waboba. Innovations: Net sales, R12M, MSEK Innovations: Adjusted EBITA, R12M, MSEK 0 200 400 600 800 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Net sales 0% 10% 20% 30% 40% 0 50 100 150 200 Q1 2022 Q2 Q3 Q4 Q1 2023 Q2 Q3 Q4 Q1 2024 Q2 Q3 Q4 Q1 2025 Adjusted EBITA Margin, % The companies in segment Innovations are niche companies with unique offerings and/or patents, with clear scalability and international potential. The companies are divided into the two verticals: Defense & Security, which includes Micropol and Stapp, and Amusement, which includes Delta of Sweden and Waboba. In 2024, the segment reported net sales of MSEK 638 and an adjusted EBITA of MSEK 175.
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Pamica Group AB | Interim Report Jan-Mar 2025 7 Other financial information Financial position and liquidity The Group’s total assets on March 31, 2025 amounted to MSEK 6,201.9, compared to MSEK 6,328.7 on March 31, 2024. The Group’s equity on March 31, 2025 amounted to MSEK 2,427,7, compared to MSEK 2,674,2 on March 31, 2024. The Group’s cash and cash equivalents and unutilized credit facilities on March 31, 2025 amounted to MSEK 216.1, compared to MSEK 243.7 on March 31, 2024. At the end of the previous quarter, on December 31, 2024, the Group’s cash and cash equivalents and unutilized credit facilities was MSEK 322.3. On November 29, Pamica Group issued senior secured bonds for a total nominal amount of MSEK 1,200 under a framework amount of MSEK 2,000. The Group simultaneously secured a three-year RCF with a framework of SEK 500 million. Cash flow and investments Cash flow from operating activities in the first quarter amounted to MSEK –0.4 (106.5). Changes in working capital had a negative contribution in the first quarter totaling MSEK –46.2 (65.8). Cash flow from investing activities in the first quarter amounted to MSEK –47.1 (–26.0), of which net liquidity effect from acquisition of subsidiaries/operations amounted to MSEK –28.3 (0.0). Net liquidity effect is primarily attributable to the final purchase price adjustment for the acquisition of SKAB-Gruppen. Cash flow from financing activities in the first quarter amounted to MSEK –46.5 (–85.5), of which amortization of debt for earn-out and minority options amounted to MSEK –10,0 (–50,0). Financial net Financial net in the first quarter amounted to MSEK –43.6 (–11.3). Of the total financial net, MSEK –39.6 (–32.6) comprised the net of interest expenses and interest income, MSEK –1.3 (0.4) the net of exchange gains and exchange losses and MSEK –0.1 (25.8) the net of revaluation of earn-out liabilities. Other financial items contributed MSEK –2.6 (–5.0). Acquisitions and divestments No acquisitions were completed during the first quarter. On January 31, 2025, Pamica Group AB’s subsidiary Safe Solutions Consulting i Sverige Holding AB divested all shares in Safe Solutions Consulting i Sverige AB with all related subsidiaries. In January 2025, corporate restructuring processes in Safe Solutions Consulting in Sweden AB and two subsidiaries became legally binding, contributing MSEK 19.0 in profit from discontinued operations during the first quarter. The divestment on January 31, 2025 generated a capital gain in the Group of MSEK 2.2 and a net cash flow of MSEK –0.4. The final purchase price adjustment is expected to be reported in the second quarter of 2025. The remaining subsidiary Safe Solutions Consulting i Sverige Holding AB is expected to be liquidated later in the year. Parent Company The Parent Company’s net sales for the January–March period amounted to MSEK 8.9 (7.7), EBIT to MSEK –3.6 (–9.2) and profit for the period to MSEK –1.0 (–10.6). The Parent Company’s net sales comprised intra-Group services and sales of management servics to related parties, see section Transaction with related parties on next page for more information.
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Pamica Group AB | Interim Report Jan-Mar 2025 8 Other disclosures Accounting policies This condensed interim report for the Group was prepared in accordance with IAS 34 Interim Financial Reporting, as well as the applicable regulations of the Swedish Annual Accounts Act. The interim report for the Parent Company has been prepared in accordance with Chapter 9 Interim Reports of the Annual Accounts Act. For the Group and the Parent Company, the same accounting policies and calculation bases were applied as in the most recent Annual Report, except for the amended accounting policies described below. Disclosures in accordance with IAS 34.16A are provided not only in the financial statements and the accompanying notes but also elsewhere in this interim report. For further information about the Group’s accounting policies, refer to the 2023 Annual Report. The Annual Report is published on https://www.pamica.se/en/about-pamica/investors/financial- reports-and-presentations/ Risks and uncertainties Pamica Group is exposed to risks, in particular the general economic climate and prevailing market conditions, which may impact the operations of the portfolio companies as well as the Group’s investing activities and the performance of acquired companies. The full risk analysis can be found in the Group’s 2023 Annual Report on pages 4-6 and on pages 43-45. Transactions with related parties Pamica Group has entered into an agreement with the related company Pamica 5 AB which includes that Pamica Group sells management services to Pamica 5 at market prices. During the first quarter, Pamica Group reported net sales of MSEK 2.0 for the sale of management services to Pamica 5 AB. Outstanding receivables amount to MSEK 2.0 at the end of the quarter. Employees The average number of employees for the January-March period was 2,299 (2,131). The percentage of women was 43% (51). Events during the reporting period On January 30, 2025, Pamica Group’s bonds were admitted to trading on the Transfer Market segment of the Nasdaq First North Bond Market. In accordance with the bond terms, the bonds shall be admitted to trading on the Corporate Bond list at Nasdaq Stockholm or on another regulated market within 12 months from December 5, 2024. On January 31, 2025, Pamica Group AB divested all subsidiaries to Safe Solutions Consulting i Sverige Holding AB. See section Acquisitions and divestments on page 7 for more information. On February 20, 2025, Pamica Group announced that its subsidiary Eskilstuna Dynamics Holding AB (EDAB) had received a notice of arbitration from the SCC Arbitration Institute. The arbitration was initiated by NicFreJon Holding AB (“Claimant”), which has submitted a request for arbitration to the SCC. The operations of EDAB’s subsidiary were acquired from the Claimant, indirectly through EDAB, by Pamica Group in November 2023. The Claimant asserts that EDAB is obligated to pay SEK 50,000,000 due to an alleged breach of contract related to the non- payment of an earn-out. Additionally, the Claimant is seeking interest on the amount and compensation for legal costs. EDAB has been served with a copy of the request for arbitration and has been ordered to submit a response. Legal counsel has been retained to handle the matter. Both EDAB and Pamica assess the claim as unfounded and have therefore contested it. On March 25, 2025, Pamica Group AB announced that CFO Anders Maiqvist has resigned and that Jan-Olof Svensson took on the role as acting interim CFO, in addition to his role as CEO. Events after the end of the reporting period Pamica Group has signed an agreement with the related-party company Pamica 5 AB under which Pamica Group sells management services to Pamica 5 and Pamica Group has the option to acquire the subsidiaries in Pamica 5 in the future. Pamica 5 has completed a funding round under which a large number of investors have committed to invest up to MSEK 340. 87% of the capital comes from Pamica Group’s current owners and 13% from new investors. Pamica Group has an option to acquire future acquired subsidiaries of Pamica 5 in the future, which is intended to take place through future non-cash issues. These transactions will be subject to a decision/approval of the shareholders of Pamica Group and Pamica 5 as well as by Pamica Group’s lenders.
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Pamica Group AB | Interim Report Jan-Mar 2025 9 The Board’s assurance The Board of Directors and the CEO assure that this year-end report for the January–March 2025 period provides a true and fair view of the company’s and the Group’s operations, financial position and results and describes the significant risks and uncertainties faced by the company and the companies included in the Group. Halmstad, May 15, 2025 Tomas Franzén Chairman of the Board Ulrika Saxon Board member Johan Ryding Board member Jan Klippvik Board member Lina Stolpe Board member Ulrika Valassi Board member Jan-Olof Svensson CEO This interim report is unaudited.
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Pamica Group AB | Interim Report Jan-Mar 2025 10 Financial statements Consolidated income statement R12M FY MSEK 2025 2024 24/25 2024 Continuing operations Net sales 1,210.2 985.1 4,852.7 4,627.6 Other operating income 10.9 14.6 56.2 60.0 1,221.1 999.7 4,909.0 4,687.6 Capitalised work on own account 1.4 1.4 6.8 6.8 Raw materials and consumables -568.9 -432.0 -2,259.2 -2,122.3 Other external expenses -147.1 -133.2 -568.7 -554.8 Personnel costs -388.0 -348.3 -1,497.1 -1,457.4 Other operating expenses -15.4 -5.3 -41.4 -31.3 Share of results of associates -1.3 -0.0 -2.0 -0.7 EBITDA 101.8 82.3 547.4 527.9 Depreciation/amortization and impairment -55.0 -53.9 -238.4 -237.3 EBITA 46.8 28.4 308.9 290.6 PPA-related depreciation/amortization and impairment -20.9 -19.3 -83.1 -81.5 Impairment of goodwill -1.0 0.0 -336.9 -336.0 EBIT 24.9 9.1 -111.1 -126.9 Net financial items -43.6 -11.3 -70.8 -38.5-52.6 -153.8 -206.4 Profit before tax -18.7 -2.2 -181.9 -165.4 Tax -11.2 -2.2 -31.3 -22.3 Profit for the period from continuing operations -29.9 -4.4 -213.2 -187.7 Discontinuing operations Profit for the period from discontinuing operations, net after tax 13.8 -6.9 -163.1 -183.7 Profit for the period -16.1 -11.3 -376.2 -371.4 Other comprehensive income Translation differences, foreign operations -10.4 -2.2 -10.5 -2.3 Total other comprehensive income -10.4 -2.2 -10.5 -2.3 Comprehensive income for the period -26.4 -13.5 -386.7 -373.8 Profit for the period from continuing operations and discontinuing operations attributable to: Parent Company shareholders -17.3 -11.4 -378.8 -372.8 Non-controlling interests 1.3 0.1 2.6 1.4 Profit for the period -16.1 -11.3 -376.2 -371.4 Comprehensive income for the period attributable to: Parent Company shareholders -27.7 -13.6 -389.1 -375.0 Non-controlling interests 1.2 0.1 2.3 1.2 Comprehensive income for the period -26.4 -13.5 -386.7 -373.8 Basic earnings per share continuing operations, SEK -0.29 -0.03 -2.23 -2.02 Diluted earnings per share continuing operations, SEK -0.29 -0.03 -2.21 -2.02 Basic earnings per share including discontinuing operations, SEK -0.15 -0.12 -3.90 -3.98 Diluted earnings per share including discountinuing operations, SEK -0.15 -0.12 -3.88 -3.98 Average number of shares 104,459,909 92,538,604 96,372,886 93,392,560 Q1
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Pamica Group AB | Interim Report Jan-Mar 2025 11 Consolidated statement of financial position 31 dec MSEK 2025 2024 2024 Assets Intangible assets 4,011.2 4,194.3 4,034.6 Property, plant and equipment 253.1 227.6 257.5 Right-of-use assets 527.2 527.7 530.6 Participations in associates 5.6 4.7 6.1 Other participations 6.1 5.6 6.6 Non-current receivables 8.5 12.4 9.1 Deferred tax assets 11.9 17.3 12.7 Total non-current assets 4,823.6 4,989.7 4,857.2 Inventories 517.0 362.1 521.4 Deferred tax assets 8.7 8.2 25.8 Accounts receivable 575.1 469.5 552.5 Prepaid expenses and accrued income 135.4 76.1 138.3 Contract assets 65.4 44.8 49.0 Other receivables 22.8 84.7 26.0 Cash and cash equivalents 53.9 118.4 148.8 Total current assets 1,378.3 1,163.7 1,461.8 Assets held for sale 0.1 175.3 20.1 Total assets 6,201.9 6,328.7 6,339.1 Equity Share capital 0.7 0.6 0.7 Other contributed capital 2,782.3 2,612.5 2,793.2 Translation reserves -9.9 0.0 0.4 Retained earnings including net profit for the year -364.3 51.3 -352.9 Equity attributable to Parent Company shareholders 2,408.8 2,664.4 2,441.3 Non-controlling interests 18.9 9.8 17.8 Total equity 2,427.7 2,674.2 2,459.1 Liabilities Non-current interest-bearing liabilities 1,712.0 1,624.0 1,702.4 Non-current lease liabilities 379.0 395.1 387.4 Non-current earn-out liabilities 13.8 83.0 13.7 Non-current minority option liabilities 123.1 88.8 119.3 Other non-current liabilities 8.2 10.2 8.7 Provisions 9.1 1.9 10.0 Deferred tax liabilities 272.7 251.1 275.3 Total non-current liabilities 2,517.9 2,476.3 2,516.9 Current interest-bearing liabilities 43.5 1.7 41.2 Current lease liabilities 156.6 145.7 155.5 Current earn-out liabilities 23.0 121.6 32.8 Current minority option liabilities 0.0 1.2 0.0 Accounts payable 405.4 320.9 406.1 Current tax liabilities 38.2 22.0 68.2 Other current liabilities 126.8 144.4 171.0 Accrued expenses and deferred income 305.0 255.2 278.6 Contract liabilities 156.2 111.3 164.8 Total current liabilities 1,254.7 1,124.0 1,318.1 Liabilities attributable to assets held for sale 1.6 54.2 45.0 Total liabilities 3,774.2 3,654.5 3,880.0 Total equity and liabilities 6,201.9 6,328.7 6,339.1 Mar 31
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Pamica Group AB | Interim Report Jan-Mar 2025 12 Consolidated statement of cash flows Statement of cash flows from discontinuing operations R12M FY MSEK 2025 2024 24/25 2024 Operating activities Profit before tax continuing operations -18.7 -2.2 -181.9 -165.4 Profit before tax discontinuing operations 14.0 -6.9 -162.5 -183.4 Adjustments for non-cash items - Depreciation/amortization 76.0 74.6 303.8 302.4 - Translation differences -0.8 -1.6 -0.0 -0.8 - Capital gains -0.4 -0.9 -9.1 -9.6 - Impairment of goodwill 1.0 - 337.0 336.0 - Other impairments - 0.0 16.4 16.4 - Revaluation of earn-outs 0.1 -25.8 -89.4 -115.4 - Change in accrued interest 20.3 1.6 -4.7 -23.4 - Discontinuing operations -21.2 - 132.4 153.6 - Other adjustments 1.8 2.0 -13.6 -13.5 Income tax paid -26.4 - -37.6 -11.2 -26.4 - -37.6 -11.2 Increase (-)/Decrease (+) in inventories 4.3 -22.5 19.4 -7.4 Increase (-)/Decrease (+) in operating receivables -30.3 1.8 -13.7 18.4 Increase (+)/Decrease (-) in operating liabilities -20.2 86.5 41.0 147.7 Cash flow from operating activities -0.4 106.5 337.4 444.3- - - Investing activities Acquisition of property, plant and equipment -14.8 -12.2 -73.9 -71.3 Divestment of property, plant and equipment 2.0 1.4 12.0 11.4 Acquisition of intangible assets -5.3 -14.9 -38.7 -48.3 Acquisition of subsidiaries/operations, net liquidity effect -27.9 - -121.9 -94.0 Divestment of subsidiaries/operations, net liquidity effect -0.4 0.0 0.5 0.9 Acquisition of financial assets -1.4 - -5.9 -4.5 Divestment of financial assets 0.8 -0.2 3.8 2.8 Cash flow from investing activities -47.1 -26.0 -224.1 -203.0- - - Financing activities New share issue/warrants -0.2 -0.1 130.9 131.0 Increase/decrease in overdraft facilities / credit facilities 11.0 152.1 -316.1 -175.0 Shareholders’ contributions received 0.0 0.0 2.9 2.9 Borrowings 0.0 - 1,480.6 1,480.6 Amortization of debt -8.5 -152.8 -1,248.1 -1,392.4 Repayment of lease liability -38.8 -34.5 -146.0 -141.7 Amortization of debt for earn-out and minority options -10.0 -50.0 -79.8 -119.8 Dividends paid 0.0 -0.2 -0.3 -0.5 Cash flow from financing activities -46.5 -85.6 -175.7 -214.8- - Cash flow for the period -93.9 -5.1 -62.3 26.4 Cash and cash equivalents at the beginning of the period 150.6 121.8 118.4 121.8 Exchange differences in cash and cash equivalents -2.7 1.7 -2.0 2.4 Cash and cash equivalents at the end of the period 53.9 118.4 53.9 150.6 Q1 R12M FY MSEK 2025 2024 24/25 2024 Net cash flow from operating activities -3.5 -2.2 -23.1 -21.8 Net cash flow from investing activities 0.0 -0.1 -0.0 -0.1 Net cash flow from financing activities -1.1 -1.2 -4.7 -4.8 -4.6 -3.6 -27.7 -26.8Net increase in cash and cash eq., discontinuing operations Q1
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Pamica Group AB | Interim Report Jan-Mar 2025 13 Consolidated statement of changes in equity, condensed Dec 31 2025 2024 2024 Opening equity attributable to the shareholders of the parent company 2,441.3 2,678.1 2,678.1 Comprehensive income Profit for the period -17.3 -11.4 -372.8 Other comprehensive income for the period -10.3 -2.2 -2.1 Comprehensive income for the period -27.7 -13.6 -375.0 Transactions with the group's owners Warrants, net -0.2 -0.1 -0.4 Shareholder's contributions 2.9 Offset issue 177.8 Capital contributions, associates -0.6 -1.9 Acquisition of shares in subsidiaries from non-controlling interests, existing controlling interest -0.1 0.3 Sales of shares in subsidiaries to non-controlling interests, existing controlling interest -0.0 -8.4 Minority options, future acquisitions from non-controlling interests -41.6 Revaluation of call/put options for the period -3.8 12.9 Transactions with non-controlling interests -3.6 Total transactions with the group's shareholders -4.8 -0.1 138.1 Closing equity attributable to the shareholders of the parent company 2,408.8 2,664.4 2,441.3 Opening equity in non-controlling interests 17.8 10.0 10.0 Profit for the period 1.3 0.1 1.4 Other comprehensive income for the period -0.0 0.0 -0.2 Comprehensive income for the period 1.2 0.1 1.2 Dividends to non-controlling interests -0.2 -0.5 Acquisition of shares in subsidiaries from non-controlling interests, existing controlling interest -0.2 -0.7 Sales of shares in subsidiaries to non-controlling interests, existing controlling interest 0.0 8.4 Minority options, future acquisitions from non-controlling interests -4.1 Transactions with non-controlling interests 3.6 Closing equity in non-controlling interests 18.9 9.8 17.8 Total equity 2,427.7 2,674.2 2,459.1 Mar 31
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Pamica Group AB | Interim Report Jan-Mar 2025 14 Parent Company income statement Jan-Mar Jan-Mar MSEK 2025 2024 Net sales 8.9 7.7 Other operating income 0.0 0.3 8.9 8.0 Other external expenses -3.7 -4.2 Personnel costs -8.8 -13.0 Other operating expenses -0.0 0.0 EBIT -3.6 -9.2 Profit/loss from financial items Total financial items 2.6 -1.4 Profit/loss after financial items -1.0 -10.6 Tax 0.0 0.0 Profit for the period and comprehensive income for the period -1.0 -10.6
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Pamica Group AB | Interim Report Jan-Mar 2025 15 Parent Company balance sheet MSEK 2025 2024 Assets Non-current assets Financial assets Participations in Group companies 3,130.6 3,324.2 Receivables from Group companies 1,207.1 1,366.3 Total financial assets 4,337.7 4,690.5 Total non-current assets 4,337.7 4,690.5 Current assets Receivables from Group companies 720.2 464.7 Other receivables - 2.0 Prepaid expenses and accrued income 48.6 45.0 Total current receivables 768.8 511.7 Cash and bank balances - 0.1 Total current assets 768.8 511.8 Total assets 5,106.5 5,202.3 MSEK 2025 2024 Equity and liabilities Equity Restricted equity Share capital 0.7 0.6 Unrestricted equity Retained earnings -672.6 -246.0 Share premium reserve 3,743.1 3,573.3 Profit for the period -1.0 -10.6 Total equity 3,070.1 3,317.2 Untaxed reserves 0.4 0.4 Total untaxed reserves 0.4 0.4 Non-current liabilities Non-current interest-bearing liabilities 1,493.7 0.0 Total non-current liabilities 1,493.7 0.0 Current liabilities Current interest-bearing liabilities 13.8 1,500.8 Accounts payable 2.7 5.4 Current tax liabilities 1.1 1.3 Liabilities to Group companies 488.4 365.2 Other liabilities 8.5 6.4 Accrued expenses and deferred income 27.8 5.5- - Total current liabilities 542.3 1,884.7- - Total equity and liabilities 5,106.5 5,202.3 Mar 31 Mar 31
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Pamica Group AB | Interim Report Jan-Mar 2025 16 Note 1 – Key performance indicators R12M FY 2025 2024 24/25 2024 Net sales, MSEK 1,210.2 985.1 4,852.7 4,627.6 Net sales growth, % 23 35 27 29 Organic net sales growth, % -2 1 0 1 Adjusted EBITA, MSEK 52.6 39.3 369.0 355.8 Adjusted EBITA margin, % 4 4 8 8 Organic EBITA growth, % -43 -54 2 7 EBIT, MSEK 24.9 9.1 -111.1 -126.9 EBIT margin, % 2 1 -2 -3 Return on equity, % -15 -0 -15 -14 Return on capital employed, % 7 5 7 7 Equity ratio, % 39 42 39 39 Cash flow from operating activities, MSEK -0.4 106.5 337.4 444.3 Net debt/adjusted proforma EBITDA R12M, x 3.5 3.7 3.5 3.3 Q1
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Pamica Group AB | Interim Report Jan-Mar 2025 17 Note 2 – Segment reporting Pamica Group monitors net sales and adjusted EBITA by segment. Industry Services Inno- vations Group items Pamica Group Industry Services Inno- vations Group items Pamica Group Continuing operations Net sales 419,7 641,2 147,5 1,8 1 210,2 217,4 608,0 159,9 -0,3 985,1 Other operating income 5,0 5,0 1,0 0,0 10,9 1,9 6,0 6,4 0,3 14,6 424,7 646,2 148,5 1,8 1 221,1 219,3 614,1 166,3 0,0 999,7 Capitalised work on own account 0,8 0,5 0,1 0,0 1,4 0,9 0,2 0,3 0,0 1,4 Raw materials and consumables -225,2 -284,1 -59,7 0,1 -568,9 -104,8 -269,8 -57,6 0,2 -432,0 Other external expenses -40,1 -82,0 -28,5 3,5 -147,1 -32,2 -78,4 -26,5 3,9 -133,2 Personnel costs -103,8 -241,4 -34,1 -8,8 -388,0 -68,0 -240,4 -27,0 -13,0 -348,3 Other operating expenses -4,2 -4,9 -6,3 -0,0 -15,4 -1,5 -0,9 -2,9 0,0 -5,3 Share of results of associates -0,3 -1,0 0,0 0,0 -1,3 -0,0 0,0 0,0 0,0 -0,0 EBITDA 51,8 33,4 19,9 -3,3 101,8 13,7 24,8 52,6 -8,9 82,3 D.A. and impairment -14,4 -37,1 -3,4 -0,1 -55,0 -10,5 -39,7 -3,4 -0,3 -53,9 EBITA 37,4 -3,7 16,5 -3,4 46,8 3,2 -14,9 49,2 -9,2 28,4 Items affecting comparability 1,0 4,8 0,0 0,0 5,8 0,0 8,6 0,0 2,3 10,9 Adjusted EBITA 38,3 1,1 16,5 -3,4 52,6 3,2 -6,3 49,2 -6,8 39,3 Adjusted EBITA-margin 9 0 11 n.a. 4 1 -1 31 n.a. 4 Industry Services Inno- vations Group items Pamica Group Industry Services Inno- vations Group items Pamica Group Continuing operations Net sales 1 421,7 2 803,8 625,2 2,0 4 852,8 1 219,4 2 770,6 637,7 0,0 4 627,6 Other operating income 19,6 27,9 8,8 -0,1 56,3 16,6 29,0 14,2 0,2 60,0 1 441,4 2 831,7 634,1 1,9 4 909,1 1 236,0 2 799,6 651,9 0,2 4 687,6 Capitalised work on own account 3,4 1,2 2,3 0,0 6,8 3,5 0,9 2,4 0,0 6,8 Raw materials and consumables -746,3 -1 271,9 -241,1 0,2 -2 259,2 -625,9 -1 257,6 -239,0 0,2 -2 122,3 Other external expenses -129,6 -319,8 -98,0 -21,3 -568,7 -121,7 -316,2 -96,0 -20,9 -554,8 Personnel costs -357,0 -976,6 -132,2 -31,3 -1 497,1 -321,2 -975,6 -125,2 -35,5 -1 457,4 Other operating expenses -12,0 -18,7 -10,7 -0,0 -41,4 -9,4 -14,7 -7,3 -0,0 -31,3 Share of results of associates -1,1 -0,9 0,0 kr 0,0 kr -2,0 -0,8 0,0 0,0 0,0 -0,7 EBITDA 198,7 245,0 154,3 -50,4 547,6 160,5 236,4 186,9 -55,9 527,9 D.A. and impairment -66,9 -156,4 -14,1 -1,1 -238,4 -62,9 -159,0 -14,1 -1,2 -237,3 EBITA 131,8 88,6 140,2 -51,5 309,1 97,6 77,4 172,8 -57,2 290,6 Items affecting comparability 8,3 49,4 1,9 0,5 60,1 7,3 53,2 1,9 2,8 65,2 Adjusted EBITA 140,1 138,1 142,1 -51,0 369,0 104,9 130,6 174,7 -54,4 355,8 Adjusted EBITA-margin 10 5 23 n.a. 8 9 5 27 n.a. 8 Q1 2025 2024 24/25 2024 R12M FY
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Pamica Group AB | Interim Report Jan-Mar 2025 18 Note 3 – Discontinuing operations During the first quarter of 2024, the Board of Pamica Group decided to discontinue the operations of the Safe Solutions sub-group. In 2023, Safe Solutions accounted for 0.9% of the Group’s total sales. In accordance with IFRS 5, Safe Solutions is recognized as discontinuing operations in the consolidated financial statements until further notice. All other operations are continuing operations. Comments and figures are related to continuing operations, unless otherwise stated. Comparative figures have been restated. The following tables present the assets held for sale, liabilities attributable to assets held for sale, the statement of profit or loss from discontinuing operations and the condensed statement of cash flows from discontinuing operations. Income statement, discontinuing operations, MSEK 2025 2024#REFERENS! #REFERENS! Net sales 0.9 9.2 Other operating income 21.2 0.2 22.1 9.4 Capitalised work on own account 0.0 0.0 Raw materials and consumables -0.7 -6.3 Other external expenses -3.1 -5.3 Personnel costs -1.1 -3.9 Other operating expenses -0.1 0.0 Share of results of associates 0.0 0.0 EBITDA 17.0 -6.0 Depreciation/amortization and impairment 0.0 -2.2 EBITA 17.0 -8.2 PPA-related depreciation/amortization and impairment 0.0 0.0 Impairment of goodwill 0.0 0.0 EBIT 17.0 -8.2 Net financial items -3.0 -0.1- Profit before tax 14.0 -8.3 Tax -0.2 0.0 Profit for the period 13.8 -8.3 Comprehensive income for the period 13.8 -8.3 Statement of financial position, discontinuing operations, MSEK 2025 2024 Assets held for sale Intangiable assets 0.0 159.3 Property,pl ant and equipment 0.0 0.5 Right-of-use assets 0.0 7.6 Financial assets 0.0 0.2 Current assets 0.1 7.7 Total assets held for sale 0.1 175.3 Liabilities attributable to assets held for sale Non-current liabilities 0.1 7.9 Current liabilities 1.5 46.3 Total liabilities attributable to assets held for sale 1.6 54.2 Statement of net cash flows, discontinuing operations, MSEK 2025 2024 Net cash flow from operating activities -3.5 -2.2 Net cash flow from investing activities 0.0 -0.1 Net cash flow from financing activities -1.1 -1.2 Net change in cash and cash equivalents -4.6 -3.6 Mar 31 Q1 Q1
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Pamica Group AB | Interim Report Jan-Mar 2025 19 Definition of performance measures The below are definitions of performance measures not been defined in accordance with IFRS (alternative performance measures). Guidelines on alternative performance measures for companies with securities listed on a regulated market in the EU have been issued by the European Securities and Markets Authority (ESMA). Alternative performance measures track historical or future financial performance, financial position or cash flows, but exclude or include amounts that would not be adjusted in the same way in the most comparable measure defined under IFRS. Management uses alternative performance measures to monitor the underlying performance of the Group’s operations and believes that the alternative performance measures, together with the measures defined in accordance with IFRS, help investors to understand the Group’s performance between periods and facilitates comparison with similar companies but are not necessarily comparable with measures with similar names used by other companies. The company believes that the alternative performance measures provide useful and supplementary information for investors. Performance measures Definition Explanation Organic net sales growth Growth in net sales adjusted for the net effects of acquisitions, divestments and transactional currency fluctuations. Acquisitions and divestments are included 12 months after they are consolidated. Indicates the net sales of the operations for the period compared with the preceding period, excluding acquired growth, divestments and currency effects. Items affecting comparability Items affecting comparability are larger items that affect comparability in that they do not recur with the same regularity as other items. Acquisition-related costs are included in items affecting comparability. In order to present the comparability and highlight the performance of the underlying operations between the periods, various profit and margin measures are presented excluding items affecting comparability. EBITDA Operating profit/loss before depreciation and impairment of property, plant and equipment and intangible assets. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. Adjusted EBITDA Operating profit before depreciation and impairment of property, plant and equipment and intangible assets, adjusted for items affecting comparability. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. EBITDA margin EBITDA as a percentage of net sales. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. Adjusted EBITDA margin Adjusted EBITDA as a percentage of net sales Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. EBITA Operating profit before impairment of goodwill as well as amortization and impairment of acquired surpluses. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. Adjusted EBITA Adjusted operating profit before impairment of goodwill as well as amortization and impairment of acquired surpluses. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. EBITA margin EBITA as a percentage of net sales. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. Adjusted EBITA margin Adjusted EBITA as a percentage of net sales. Shows the earnings capacity of the company regardless of its capital structure and tax situation and is intended to be compared with other companies in the same industry. Operating profit (EBIT) Operating profit after amortization/depreciation and impairment of property, plant and equipment and intangible assets. Enables comparisons of profitability regardless of capital structure or tax situation. EBIT margin Operating profit (EBIT) as a percentage of net sales. Enables comparisons of profitability regardless of capital structure or tax situation. Organic EBITA growth Adjusted EBITA in comparable units. The effects of acquisitions, divestments and exchange rate changes are excluded. Shows the organic earnings capacity of the operating activities and is intended to be compared with other companies in the same industry.
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Pamica Group AB | Interim Report Jan-Mar 2025 20 Performance measures Definition Explanation Return on equity Profit for the period attributable to Parent Company’s owners divided by average equity per quarter attributable to the Parent Company’s owners. Return on equity measures, from an owner’s perspective, the return generated on the owners’ invested capital. Capital employed Total Equity and Net Debt reported as annual average per quarter. Capital employed shows how much capital is used in the operations and is thus one component of measuring the return on the operations. Return on capital employed Adjusted EBITA as a percentage of capital employed. The components are calculated on the annual average per quarter. Return on capital employed shows the Group’s profitability in relation to externally financed capital and equity. Net debt Non-current and current interest-bearing liabilities, non-current and current leasing liabilities, non-current and current earn-outs as well as non-current and current minority options less cash and cash equivalents. Net debt is used to monitor the trend in liabilities, analyze the Group’s indebtedness and the Group’s ability to repay its liabilities using cash and cash equivalents. Net debt/adjusted EBITDA R12M Net debt in relation to adjusted proforma EBITDA for the last 12 months. Adjusted proforma EBITDA for the last 12 months includes subsidiaries within the company group on the balance date. Net debt in relation to adjusted EBITDA for the last 12 months provides a measure for net debt in relation to cash-generating earnings in the operations and thus provides an indication of the ability of the operations to pay its liabilities. The measure is used by financial institutions to measure creditworthiness. Equity ratio Total equity as a percentage of total assets. Equity ratio is used to analyze financial risk, and shows the share of the assets that is financed by equity. R12M Refers to the last 12 months. Enables comparisons with calendar years in interim reports.
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Pamica Group AB | Interim Report Jan-Mar 2025 21 Reconciliation tables R12M FY 2025 2024 24/25 2024 Organic net sales growth Net sales, preceding period 985.1 730.4 3,829.6 3,574.9 Net sales, current period 1,210.2 985.1 4,852.7 4,627.6 Net sales growth, % 23 35 27 29 of which acquired growth, % 25 34 27 28 of which organic growth, % -2 1 0 1 EBIT margin Net sales 1,210.2 985.1 4,852.7 4,627.6 EBIT 24.9 9.1 -111.1 -126.9 EBIT margin, % 2 1 -2 -3 Adjusted EBITDA EBIT 24.9 9.1 -111.1 -126.9 D&A and impairment, incl. impairment of goodwill 77.0 73.2 658.5 654.8 EBITDA 101.8 82.3 547.4 527.9 Items affecting comparability 5.8 10.9 60.1 65.2 Adjusted EBITDA 107.6 93.3 607.4 593.1 Adjusted EBITA and adjusted EBITA margin EBIT 24.9 9.1 -111.1 -126.9 D&A and impairment, acquired surplus and goodwill 21.9 19.3 420.0 417.4 EBITA 46.8 28.4 308.9 290.6 Items affecting comparability 5.8 10.9 60.1 65.2 Adjusted EBITA 52.6 39.3 369.0 355.8 Net sales 1,210.2 985.1 4,852.7 4,627.6 Adjusted EBITA margin, % 4 4 8 8 Organic EBITA growth EBITA 46.8 28.4 308.9 290.6 Items affecting comparability 5.8 10.9 60.1 65.2 Adjusted EBITA 52.6 39.3 369.0 355.8 Total acquired/divested EBITA 30.3 13.3 112.9 71.7 Comparative figures with previous year 22.3 26.0 256.1 284.1 Organic EBITA growth, % -43 -54 2 7 Return on equity, incl. discontinuing operations Profit for the period attributable to parent company shareholders, R12M -378.8 -8.2 -378.8 -372.8 Equity attributable to parent company shareholders, annual average 2,570.7 2,432.0 2,570.7 2,623.6 Return on equity, % -15 -0 -15 -14 Return on capital employed (ROCE), incl. discontinuing operations Adjusted EBITA in R12M 346.0 213.3 346.0 328.6 Total equity 2,427.7 2,674.2 2,427.7 2,459.1 Equity, average last five quarters 2,585.1 2,448.3 2,585.1 2,636.3 Net debt 2,397.2 2,372.8 2,397.2 2,309.8 Net debt, average last five quarters 2,359.3 2,007.8 2,359.3 2,355.1 Capital employed, annual average per quarter 4,944.4 4,456.1 4,944.4 4,991.4 Return on capital employed (ROCE), % 7 5 7 7 Equity ratio Total equity 2,427.7 2,674.2 2,427.7 2,459.1 Total total assets 6,201.9 6,328.7 6,201.9 6,339.1 Equity ratio, % 39 42 39 39 Net debt/adjusted proforma EBITDA R12M Non-current and current interest-bearing liabilities 1,755.5 1,625.7 1,755.5 1,743.6 Non-current and current lease liabilities 535.5 540.8 535.5 542.9 Non-current and current earn-out liabilities 36.8 204.6 36.8 46.5 Non-current and current minority option liabilities 123.1 90.0 123.1 119.3 Cash and cash equivalents -53.9 -118.4 -53.9 -148.8 Net debt 2,397.1 2,342.7 2,397.1 2,303.5 Adjusted proforma EBITDA, R12M 685.2 640.6 685.2 697.9 Net debt/adjusted proforma EBITDA R12M, x 3.5 3.7 3.5 3.3 Q1
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Pamica Group acquires and develops small and medium-sized companies together with successful entrepreneurs, making them successful in the long term and thus adding value and prosperity. The Group has a long-term ownership horizon with high ambitions for growth – through organic growth and add-on acquisitions and by acquiring new platform companies. Webcast in connection with publication of interim report On May 15 at 10.00 a.m. CEST, CEO and acting CFO Jan-Olof Svensson will hold a presentation for Pamica Group’s owners and other stakeholders and answer questions. If you want to participate through the webcast, use the following link. It will be possible to submit written questions during the webcast. https://pamica.events.inderes.com/q1-rapport-2025/ If you want to ask questions verbally via the teleconference, register using this link https://events.inderes.com/pamica/q1-rapport-2025/dial-in Financial calendar Publication of Annual Report 2024 2025-05-22 Annual General Meeting 2025 2025-06-12 Interim report January–June Q2 2025 2025-08-21 Interim report January–September Q3 2025 2025-11-13 Contact information Jan-Olof Svensson, CEO, +46 733 730 080, janolof.svensson@pamica.se Johan Hähnel, IR, +46 706 056 334, johan.hahnel@pamica.se Pamica Group AB Kronobränneriet 302 42 Halmstad Sverige www.pamica.se Corp. Reg. No. 559374-3643 About Pamica This information is information that Pamica Group is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-05-15 07:00 CEST.