Summary of the period

Third quarter: July 1st – September 30th, 2022

• Net revenue amounted to 483.5 MSEK (221.1 MSEK), corresponding to an increase of 119% (218%)
• Operational EBITDA amounted to 97.0 MSEK (57.0 MSEK), corresponding to an increase of 70%, and an EBITDA-margin of 20.1% (25.5%). The adjustments refer to an accounting adjustment of acquired inventory of 13.2 MSEK
• Organic, currency-adjusted, growth amounted to 8% (-1%)
• Operational EBIT amounted to 84.3 MSEK (58.0 MSEK), corresponding to an increase of 45%, and an EBIT-margin of 17.4% (26.0%)
• Profit after tax amounted to 24.3 MSEK (10.8 MSEK)
• Earnings per share calculated on 158 111 805 shares (118 038 475 shares) 0.15 SEK (0.09 SEK)
• Cash flow from operating activities amounted to 67.7 MSEK (33.5 MSEK)
• As of September 30th, 2022, cash amounted to 194.3 MSEK (138.1 MSEK)

First 9 months: January 1st – September 30th, 2022

• Net revenue amounted to 1332.1 MSEK (515.2 MSEK), corresponding to an increase of 159% (270%)
• Operational EBITDA amounted to 310.4 MSEK (141.9 MSEK), corresponding to an increase of 119% and an EBITDA margin of 23.2% (27.4%). The adjustments refer to acquisition costs amounting to 11.2 MSEK(15.9 MSEK) due to the acquisition of NaturVet and Innovet and to an accounting adjustment of acquired inventory of 30.7 MSEK (40.4 MSEK)
• The organic, currency-adjusted, growth amounted to 7% (21%)
• Operational EBIT amounted to 273.4 MSEK (139.1 MSEK), corresponding to an increase of 97% and an EBIT margin of 20.5% (26.9%)
• Profit after tax amounted to 127.2 MSEK (34.9 MSEK)
• Earnings per share calculated on 154 275 661 shares (109 862 347 shares) 0.82 SEK (0.32 SEK)
• Cash flow from operating activities amounted to 133.7 MSEK (89.5 MSEK)
• Exchange rate gains amounted to 8.9 MSEK (8.2 MSEK)

Significant events during the third quarter

Swedencare has executed the earn-out payment of 290.4 MSEK (27.5 MUSD) connected to the acquisition of NaturVet.

Nutravet has extended a long-term agreement with Europe’s largest veterinary group to supply the premium supplement range, VetPro, in the UK and Ireland until 2029.

Significant events after the third quarter

An extraordinary general meeting took place on October 19th, 2022. The extraordinary general meeting decided, in accordance with the board’s proposal, on an incentive program for key employees in the Swedencare group, comprising a private placement of a maximum of 415 000 warrants to the company and transfer of the warrants to the participants in the incentive program. 415,000 warrants corresponds to a dilution effect of a maximum of approximately 0.26 percent, based on the number of shares and votes in the Company after the utilization of the warrants. The transfer of the warrants to the participants in the incentive program shall take place at market value.