INTERIM REPORT JULY 2024 – DECEMBER 2024

INDUSTRIAL AND TRADE UNITS STABLE - FIBER BUSSINESS REMAINS WEAK

Second quarter October 2024 – December 2024

On December 20, Duroc’s Board of Directors announced its intention to rebalance the portfolio toward industrial and trade units, thereby divesting the fiber companies Drake and IFG. The divestments are intended to take place in the medium term, and the process of finding buyers has begun. For Proforma figures excluding IFG and Drake, see page 3.
Net sales decreased by 6 percent to MSEK 721.7 (769.4). Organic growth** was -8 percent. Net sales excl. IFG and Drake were MSEK 373.5 (388.2) and organic growth** was -7 percent.
EBITDA amounted to MSEK 9.5 (26.4), while EBITDA excl. IFG and Drake was MSEK 23.2 (25.0).
Adjusted EBIT* amounted to MSEK -19.5 (2.1). Excl. IFG and Drake: MSEK 16.4 (16.5)
Operating profit (EBIT) amounted to MSEK -14.9 (1.3). Excl. IFG and Drake: MSEK 14.9 (15.8).
Cash flow from operating activities amounted to MSEK 17.2 (2.0). Excl. IFG and Drake: MSEK 51.0 (47.9).
Earnings per share amounted to SEK -0.45 (0.05). Excl. IFG and Drake: SEK 0.20 (0.45)
During the quarter, Duroc signed an agreement to acquire Broddson AB (www.broddson.com). The company annual sales amounts to approximately MSEK 150 and and the operating profit MSEK 15. The transaction was finalized on January 2, 2025.
Duroc has restructured its financing, establishing local credits in the UK, Belgium, and Austria, of which the parent company is not acting as guarantor. Duroc has therefore adjusted the group-wide cash-pool-linked credit facility MSEK 150. As of December 31, the group had unused credit facilities amounting to MSEK 178.4 (249.4), excl. IFG and Drake: MSEK 168.9 (249.4).

First six-month period July 2024 – December 2024

Net sales decreased by 5 percent to MSEK 1,426.1 (1,496.2). Organic growth** was -5 percent. Excluding IFG and Drake, sales amounted to MSEK 682.5 (707.3) with organic growth** of -5 percent.
EBITDA decreased to MSEK 36.0 (47.7). Excl. IFG and Drake, EBITDA was MSEK 50.9 (46.1).
Adjusted EBIT* amounted to MSEK -16.0 (-3.6). Excl. IFG and Drake: MSEK 36.9 (29.3).
Operating profit (EBIT) amounted to MSEK -12.2 (-3.8). Excl. IFG and Drake: MSEK 34.5 (27.1).
Cash flow from operating activities was MSEK 7.3 (25.8). Excl. IFG and Drake: MSEK 49.8 (45.1).
Earnings per share amounted to SEK -0.50 (-0.02). Excl. IFG and Drake: SEK 0.53 (0.80).
As of December 31, 2024, cash and cash equivalents amounted to MSEK 119.1 (21.1), and net debt excluding lease liabilities for right-of-use assets totaled MSEK 54.9 (119.5), an increase of MSEK 18.3 since September 30, 2024. Net debt excl. lease liabilities and excl. IFG and Drake was MSEK -44.8 (36.2).
Equity at the end of the period amounted to MSEK 1,143.2 (1,016.1), with an equity ratio of 62 percent (60). Equity per share attributable to owners of the parent company amounts to SEK 28.6 (29.1).

* Adjusted for items affecting comparability. A reconciliation of amounts can be found on page 22-25.** Refers to growth adjusted for exchange rate fluctuations and structural changes such as the acquisition and disposal of companies.

John Häger
CEO
+46-702 48 72 99
john.hager@durocgroup.com

The Duroc Group manages and develops industrial and trading companies. With deep knowledge of technology and market, the Group’s companies strive to achieve a leading position in their respective industries. As owner Duroc contributes actively to the development. Duroc is listed on NASDAQ OMX Stockholm (symbol: DURC). www.duroc.se

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