Awardit AB (publ.) – Interim report January – March 2024

January – March 2024

• Net revenue increased with 28.7 percent to MSEK 285.7 (221.9), of which -0.6 percent organic.
  
• EBITA result amounted to MSEK 8.9 (7.1) and EBITA margin amounted to 3.1 (3.2) percent.
  
• EBITA per share, before and after dilution, amounted to SEK 1.03 (0.83).
  
• Operating result EBIT amounted to MSEK -0.8 (-3.3) and EBIT margin amounted to -0.3 (-1.5) percent.
  
• The result for the quarter amounted to MSEK -0.4 (-12.6) and earnings per share after tax, before and after dilution amounted to SEK -0.05 (-1.47).

Significant events during the quarter

• An extraordinary General Meeting was held on 17 January, where Simon Damkjær Wille was elected as a Board member until the next Ordinary Annual General Meeting, and it was resolved to adopt instructions for appointment to the Nomination Committee.

• The Danish tax authority began a VAT investigation into MBXP in 2022. An intermediate decision was received in February 2024. Based on this intermediate decision, a reservation of MSEK 6.7 was made, compared to the previously communicated amount of MSEK 33.3.
  The reservation of MSEK 6.7 is based on the best assessment according to the available information.

• On 25 March, Fayes Investeringar 1 AB ("Fayes"), a company controlled by a consortium consisting of Polaris Equity, Niklas Lundqvist, Samir Taha, and the largest shareholders, Filip Engelbert and Jonas Nordlander, (together the "Consortium"), submitted a public takeover offer to the shareholders in Awardit AB (publ) to acquire all outstanding shares in Awardit. The consortium offered the shareholders in Awardit a cash consideration of SEK 132 per share. The offer values the total number of shares in Awardit at MSEK 1 143. As of 25 March 2024, the consortium holds shares in Awardit corresponding to a total of 49.4 per cent of the shares and votes in the Company. The acceptance period for the offer began on 26 March 2024 and will end on 17 May 2024.

• In conjunction with the public takeover offer on 25 March, the independent Bid Committee for Awardit AB (publ) recommended the shareholders in Awardit AB (publ) to accept the offer submitted by Fayes Investeringar 1 AB. The Bid Committee of Awardit consists of the independent Board members of Awardit, Peter Borsos and Charlotte Eisner, with Peter Borsos as Chair of the Bid Committee. The Bid Committee has, in accordance with the takeover rules, obtained a valuation statement, a so-called fairness opinion, from Lenner & Partners Corporate Finance AB with regards the offer. The Bid Committee has considered the valuation statement issued by Lenner & Partners, according to which Lenner & Partners believes that the offer is fair from a financial perspective for the shareholders of Awardit. The Bid Committee has also noted that the bid premium may be considered reasonable in relation to the current share price. At the same time, the Bid Committee believes that the long-term fundamental value of the Company may well exceed the offer.

Significant events after the end of the reporting period

• No significant events to report.

In a comment to the first quarter of the year CEO Erik Grohman says:

"Awardit continues to grow and delivers an improved result for the first quarter of the year. We show solid growth in our core business, while at the same time we see ample opportunities for further synergies in our acquisitions going forward through the strong position we have created in DACH.”

The Interim report for the period January - March 2024 can also be found on Awardit´s website Investor relations | Awardit