Q3, 2023

To Nasdaq OMX Copenhagen A/S

Company announcement no. 547
November 21^st, 2023

INTERIM REPORT JANUARY 1^ST, 2023 – SEPTEMBER 30^TH, 2023 (YTD Q3 2023)

The YTD Q3, 2023 (January through September 2023) of the fiscal year 2023 was reviewed and approved at the Board of Directors meeting today. The Board of Directors announces the following consolidated financial statement year to date (YTD Q3) for the first 9 months of 2023.

Highlights

• The revenue for YTD Q3, 2023 amounted to DKK 108,6 million (YTD Q3, 2022: DKK 103,6 million), which is in line with our expectations.
• EBITDA for the period YTD Q3, 2023 was DKK 9,8 million (YTD Q3, 2022: DKK 12,7 million).
  • The EBITDA decline compared to last year relates to higher prices due to Inflation on i.e., mechanical parts, electronic components, electricity, and gas. The price increases have not been fully covered by increases in sales prices.
  • The previous challenges of securing especially electronic components and materials on time have improved during Q3.
• Profit before tax for the period YTD Q3, 2023 was DKK 4,2 million (YTD Q3, 2022: DKK 8,5 million).
  • The profit before tax result includes a write-down on a leased property in Nyborg, which is no longer used by Glunz & Jensen. For reference to the leased property in Nyborg - see notes 1 and 12 in the annual report 2022.  The partial write-down is a result of the ongoing negotiation between Glunz & Jensen and the property owner to reach an agreement on an early exit from the leasehold contract.

For further information please contact:

CEO Henrik Blegvad Funk: phone +45 21 39 05 32
Chairman of the board Flemming Nyenstad Enevoldsen: phone +45 40 43 13 03