“During the fourth quarter, we continued to consolidate and strengthen EHAB’s balance sheet, which resulted in new financing projects, structured processes, and in-depth operational work with our portfolio companies. The current economic conditions challenge the entire company group, and we are therefore positive that a majority of the portfolio continues to deliver stable financial results. EHAB’s highest priority is to position the company for long-term value creation, and we are convinced that our initiatives are taking us in the right direction.” - Saeid Esmaeilzadeh

Financial overview

• Total net asset value was MSEK 7,164 (7,607), equivalent to SEK 9,294 per share (9,869).
• Total assets were MSEK 8,751 (8,817).
• Net cash / debt amounted to MSEK -1,308 (-1,133), which corresponds to a loan-to-value ratio (LTV) of 18% (15%). The equity ratio was 82% (86%).
• Net loss for the year amounted to MSEK -443 (3,000) and earnings per share amounted to SEK -574 (3,952). Net loss for the fourth quarter amounted to MSEK -572 (-131) and earnings per share amounted to SEK -742 (-172).

Significant events during the fourth quarter of 2023

• In October, Lyvia announced that the company had secured financing of BSEK 1.6 from the leading Nordic banks, Danske Bank and DNB.
• In November, EHAB communicated the company's ambition to become debt-free in 2024 and that several initiatives are being evaluated with the aim of realizing values in the investment portfolio. EHAB also announced that it had initiated a written procedure to implement certain changes in the company's bond terms. The written procedure was approved by the bondholders during December.
• In November, EHAB decided to adjust the fair value of the shares in Rebellion from MSEK 1,012 to MSEK 541. The decision follows from EHAB's valuation process and changed circumstances for Rebellion, including the company's earnings trend, multiples of comparable companies, the company's growth prospects, and the market conditions in general.

Significant events after the period

• During January, Rebellion initiated a written procedure under its outstanding bond loan to enable the repurchase of the company's bonds through targeted repurchase offers to all bondholders, which was approved. Rebellion subsequently announced that the company had repurchased bonds with a nominal amount of MSEK 94.
• During January, strategic acquisitions of new businesses were carried out within Rebellion and Novedo, respectively.
• On 26 January, EHAB’s general meeting decided on a new issuance of preference shares. The issuance represents a capital injection of MSEK 100 to EHAB.
• In February, certain changes were announced in EHAB's board and management team. Mikael Ericson was appointed as chief executive officer, Saeid Esmaeilzadeh as chairman of the board and Mouna Esmaeilzadeh as deputy chairman of the board.

Webcast

EHAB’s CEO, Mikael Ericson, and chairman of the board, Saeid Esmaeilzadeh, will present the report during a webcast today at 10.00 CET. After the presentation, participants will have the opportunity to ask questions. Participants can join the webcast through the following link:

Esmaeilzadeh Holding AB - Investor Presentation - Year-end 2023

It is also possible to participate via telephone conference through the following telephone number and conference ID:

+46 8 502 428 25

Conference ID: 293 940 992#

Local numbers (for participants outside Sweden)

For further information, please contact:

Michaela Abercrombie Simpson, Head of Communication

Phone: +46 736 301 403

The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 13 February 2024.

About Esmaeilzadeh Holding AB (publ)

EHAB is an entrepreneurially driven investment company that invests in and develops resilient companies within selected industries. The primary focus is investments in operational groups with opportunities for both organic and acquisition-based growth. For more information, see www.ehab.group.