Accounting policies
The interim report has been prepared in accordance with IFRS as adopted by the EU, with IAS 34 Interim Financial Reporting being applied. Apart from in the financial statements and their accompanying notes, disclosures in accordance with IAS 34.16A also appear in other parts of the interim report. The interim report for the Parent Company has been prepared in accordance with the Annual Accounts Act and the Securities Market Act, which is in accordance with the provisions of RFR 2 Accounting for Legal Entities.

In the interim report, the same accounting principles and bases of calculation have been applied as in the most recent annual report. There are no new IFRS or IFRIC pronouncements endorsed by the EU that are applicable for Addtech or that have a significant impact on the Group’s result of operations and position in 2023/2024.

Alternative performance measures
The Company presents certain financial measures in the interim report that are not defined according to IFRS. The Company believes that these measures provide valuable supplemental information to investors and the Company's management as they allow for evaluation of trends and the Company's performance. Since all companies do not calculate financial measures in the same way, they are not always comparable to measures used by other companies. These financial measures should therefore not be considered to be a replacement for measurements as defined under IFRS. For definitions and reconciliation tables of the performance measures that Addtech uses, please see page 21-24.

Risks and factors of uncertainty
Addtech's profit and financial position, as well as its strategic position, are affected by a number of internal factors under Addtech's control and by a number of external factors over which Addtech has limited influence. The risk factors of greatest significance to Addtech are the economic situation, or other events affecting the economy, such as geopolitical conflicts, such as Russia’s invasion of Ukraine, in combination with structural changes and the competitive situation.

Please see section Risks and uncertainties (page 59-61) in the annual report for 2022/2023 for further details.

The Parent Company is indirectly affected by the above risks and uncertainty factors due to its role in the organisation.

Transactions with related parties
No transactions between Addtech and related parties that have significantly affected the Group's or the parent company's position and its earnings have taken place during the period.

Seasonal effects
Addtech's sales of high-tech products and solutions in the manufacturing industry and infrastructure are not subject to major seasonal variations. The number of production days and customers' demand and willingness to invest can vary over the quarters.

Annual Report 2023/2024
The annual report for 2023/2024 will be published on Addtech’s website www.addtech.com in July 2024. A printed version will be distributed to the shareholders who request this.

Annual General Meeting 2024
The Annual General Meeting (AGM) of Addtech AB will take place at 4:00 p.m on Thursday 22 August 2024. A notice of the AGM will be published in July 2024 and will also be available on www.addtech.com.

The Board of Directors proposes dividend of SEK 2.80 (2.50) per share, which corresponds to a dividend payment of about SEK 755 million (674), which is in line with Addtech's dividend policy with the objective of a dividend that exceeds 30 percent of average Group profit after tax over a business cycle.

Events after the end of the period
On 10 April, Novomotec GmbH, Germany, was acquired to become part of the Electrification business area. Novomotec is a leading supplier of compact electric motors to OEM customers in light electric vehicles, medical technology and automation applications. The company has 9 employees and a sales of around EUR 7 million. 

On 15 April, 90 percent of the shares in Cell Pack Solutions Ltd., Great Britain, was acquired to become part of the Electrification business area. Cell Pack develops, manufactures and markets internationally battery solutions under its own brand to customers primarily in water treatment, safety and medical technology. The company has 30 employees and sales of around GBP 5.6 million.

On 29 April, GoDrive AS, Norway, was acquired to become part of Industrial Solutions business area. GoDrive is a leading supplier of frequency converters and accessories on the Norwegian market. GoDrive will become a part of and complement our operations in the BEVI-group who is a supplier of electric drive systems. GoDrive has 5 employees and sales of around NOK 75 million. 

Preliminary purchase price allocations have not yet been completed.

Stockholm May 16, 2024

Niklas Stenberg
President and CEO

This report has not been subject to review by the company's auditor.

FURTHER INFORMATION

Publication
This information is information that Addtech AB (publ.) is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out below, at 8.15 a.m. CET on 16 May 2024.

Future information
2024-07-12  Interim report 1 April - 30 June 2024
2024-08-22  Annual General Meeting 2024 will be held at IVA, Grev Turegatan 16, Stockholm at 4.00 p.m.
2024-10-24  Interim report 1 April - 30 September 2024
2025-02-04  Interim report 1 April - 31 December 2024

The Group's annual report for 2023/2024 will be published on Addtech's website in July 2024.

For further information, please contact:
Niklas Stenberg, President and CEO, +46 8 470 49 00 
Malin Enarson, CFO, +46 705 979 473