ABSOLENT GROUP AB INTERIMREPORT FOURTH QUARTER, 2020

Quarter 4, 2020

· Net sales amounted to 229.1 MSEK (324.0) which is a growth of -29.3 % (102.0)

· Operating profit before amortization of goodwill (EBITA) reached 45.7 MSEK (40.7) with a margin of 19.9 % (12.6). Adjusted operating profit before amortization of goodwill (EBITA1) amounted to 29.9 (40.7) with a margin of 13.0 % (12.6). Adjustment is related to lower cost than anticipated regarding our cost reduction program

· Operating profit after amortization of goodwill (EBIT) amounted to 24.5 MSEK (21.7) with a margin of 10.7 % (6.7). Amortizations of goodwill had an impact on EBIT with -21.1 MSEK (-19.0). Adjusted operating profit after amortization of goodwill (EBIT1) amounted to 8.8 MSEK (21.7) with a margin of 3.8% (6.7). Amortizations of goodwill had an impact on EBIT1 with -21.1 MSEK (-19.0)

· Earnings per share amounted to 1.9 SEK (0.7). Adjusted earnings per share amounted to 0.5 SEK (0.7)

· Cash flow from operating activities after change in working capital amounted 8.2 MSEK (36.5)

January - December, 2020

· Actions were taken during the year to reduce costs within the Group due to the effects of Covid-19. Within a short period of time, Absolent Group implemented several measures including furloughs and reduction of non-essential costs. As a long-term measure, the Group reduced the costs on a yearly basis of 53 MSEK through a company-wide cost reduction program communicated in June 2020. The action program was gradually implemented during the second half of 2020 and achieved full effect when Gallito was sold in the beginning of January 2021. Related one-time expenses of 42 MSEK were recorded. Adjusted numbers are presented below

· Net sales amounted to 895.9 MSEK (1,038.4) which is a growth of -13.7 % (61.3)

· Operating profit before amortization of goodwill (EBITA) reached 49.6 MSEK (162.5) with a margin of 5.5 % (15.6). Adjusted operating profit before amortization of goodwill (EBITA1) reached 91.8 MSEK (162.5) with a margin of 10.2 % (15.6)

· Operating profit after amortization of goodwill (EBIT) reached -31.2 MSEK (111.1) with a margin of -3.5 % (10.7). Amortizations of goodwill had an impact on EBIT with -80.7 MSEK (-51.3). Adjusted operating profit after amortization of goodwill (EBIT1) reached 11.0 MSEK (111.1) with a margin of 1.2 % (10.7). Amortizations of goodwill had an impact on EBIT1 with -80.7 MSEK (-51.3)

· Earnings per share amounted to -4.9 SEK (6.5). Adjusted earnings per share amounted to -1.1 SEK (6.5)

· Cash flow from operating activities after change in working capital amounted to 54.4 MSEK (126.1)

· The Board proposes a dividend of 1,8 (0) per share

Further information:

The complete interim report is available at

https://absolentgroup.com/investors/interim-reports/

For further questions please contact:

MD and Group CEO Axel Berntsson +46 510 - 48 40 00

Absolent Group AB is listed on Nasdaq First North Growth Market.

Certified Adviser for Absolent Group AB is Erik Penser Bank AB. +46 8-463 83 00.

Email: [email protected]

This information is information that Absolent Group AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 a.m. CET on February 26, 2021.












Kallelse till årsstämma i Absolent Group AB

Aktieägarna i Absolent Group AB (publ) kallas härmed till årsstämma tisdagen den 4 maj 2021.




Uppföljning Absolent Groups åtgärdsprogram

Absolent Group AB (publ) vidtog under 2020 åtgärder för att minska kostnaderna i koncernen till följd av Covid-19. På kort sikt implementerade Absolent Group en rad olika åtgärder inklusive korttidspermitteringar och reducering av icke-kritiska kostnader. Som en långsiktig åtgärd minskade koncernen sina kostnader på årsbasis med 53 MSEK genom ett övergripande åtgärdsprogram som kommunicerades i juni 2020. Besparingarna har gradvis börjat träda i kraft under andra halvan av 2020 för att nå full nivå vid försäljning av Gallito i början av januari 2021. Tillhörande engångskostnader för åtgärdsprogrammet uppgick till 42 MSEK


Absolent Group cost reduction program follow-up

Absolent Group AB (publ) acted during 2020 to reduce costs within the group due to the effects of COVID-19. Within a short period of time, Absolent Group implemented several measures including furloughs and reduction of non-essential costs. As a long-term measure, the Group reduced the costs on a yearly basis of 53 MSEK through a company-wide cost reduction program communicated in June 2020. The action program was gradually implemented during the second half of 2020 and achieved full effect when Gallito was sold in the beginning of January 2021. Related one-time expenses of 42 MSEK were recorded.


ABSOLENT SLUTFÖR AVYTTRING AV GALLITO LTD I STORBRITANNIEN

Absolent Group har avyttrat Gallito Limited i Storbritannien. Avyttringen är i linje med Absolent Groups strategi och skärper fokuset på utvalda tillväxtplattformar.


ABSOLENT COMPLETES DIVESTITURE OF GALLITO LTD IN THE UK

Absolent Group has divested Gallito Limited in the UK. The divestment is in line with Absolent Group's strategy and sharpens the focus on core growth platforms.


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