Quant AB: Interim report April - June 2021

STOCKHOLM, Aug. 20, 2021 /PRNewswire/ -- April-June

• Net sales for the quarter increased by 2.7% to EUR 40.5 (39.4) million. Organically, net sales increased by 1.2%

• During the quarter, the contract portfolio value developed positively although the number of contracts decreased. One contract was won, one contract was renewed, four contracts were exited, and one contract was lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 156.4 million, compared to EUR 155.8 million during the first quarter of 2021

• Operating loss amounted to EUR -1.4 million, compared to a loss of EUR -1.1. million prior year

• Adjusted EBITDA amounted to EUR 1.3 million compared to EUR 1.8 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the quarter was EUR 1.3 (1.8) million. Adjusted EBITDA with IFRS 16 implementation was EUR 2.0 (2.7) million

• Cash flow from operating activities amounted to EUR 1.9 (7.5) million, of which change in working capital amounted to EUR 2.0 (5.9) million

• Net loss for the continuing business amounted to EUR -3.6 million compared to a loss of  EUR -3.9. million prior year

• The Adjusted EBITDA for Discontinued operations was EUR -0.2 (0.0) million and the net loss was EUR -0.5 (-0.2) million, which is not included in the reported numbers above

• Group net loss for the quarter, including discontinued operations, was EUR -4.0 (-4.1) million

January-June

• Net sales for the period amounted to EUR 81.3 (81.1) million and were in line with the comparable period prior year. Organically, net sales were flat

• Operating loss amounted to EUR -1.2 million, compared to a loss of EUR -2.7. million prior year

• Adjusted EBITDA increased to EUR 3.9 million from EUR 3.0 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA would have been EUR 3.9 (3.0) million. Adjusted EBITDA with IFRS 16 implementation was EUR 5.3 (4.8) million

• Cash flow from operating activities amounted to EUR -0.7 (6.7) million, of which change in working capital amounted to EUR -1.3 (4.5) million

• Net loss for the continuing business amounted to EUR -5.6 million compared to a loss of EUR -12.9 million prior year

• The Adjusted EBITDA for Discontinued operations was EUR -0.9 (-0.8 million and the net loss was EUR -7.4 (-1.3) million, which is not included in the reported numbers above

• Group net loss for the period, including discontinued operations, was EUR -13.0 (-14.1) million

Telephone conference

A telephone conference where management comment on the report is held at 11:00 CET on August 20^th, 2021. Details for participation by telephone are found ahead of the call on www.quantservice.com/investor.

Stockholm, 20 August 2021

Quant AB (publ) 

For further information, please contact:

Tomas Rönn, CEO: +46 720 92 11 20

André Strömgren, CFO: +46 708 410 796

E-mail: ir@quantservice.com

Quant AB (publ) is a global leader in industrial maintenance. For over 30 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers' goals in the most professional way. The group operates internationally in close to 20 countries world-wide, employing 2,300 people. The parent company is located in Stockholm, Sweden.Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.

This information is information that Quant is obliged to make public pursuant to the EU Market Abuse Regulation and the Securities Markets Act. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 20 August 2021.

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https://news.cision.com/quant-ab/r/interim-report-april---june-2021,c3400155

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