January - March

• Net sales for the quarter decreased to EUR 32.0 (44.0) million. Organically, net sales decreased by -26.6%

• During the quarter, the contract portfolio value increased by net EUR 3.2 million. One contract was won, one contract was renewed and one was lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 128.5 million, compared to EUR 125.3 million at the end of the fourth quarter of 2024.

• Operating profit for the quarter amounted to EUR -0.3 million, compared to EUR 0.9 million prior year

• Adjusted EBITDA amounted to EUR 0.5 (3.1) million, excluding the effect of implementation of IFRS 16 Leases

• Cash flow from operating activities amounted to EUR -3.2 (-1.9) million, of which change in working capital amounted to EUR -2.6 (-1.0) million

• Net loss for the quarter was EUR –1.6 (-2.5) million

Significant events during the quarter

On 17 January 2025, the company announced that it had agreed with relevant stakeholders on a revised structure for the recapitalisation and the final implementation steps of the recapitalisation transaction formally commenced on 28 January 2025. Then, among other things, the ownership of the direct shareholder of the company was transferred from the existing shareholders to the then existing holders of the company’s senior bonds maturing in 2025; additional new senior secured bonds due 2028 in a nominal amount of EUR 12.5 million were issued; and the company’s existing senior bonds in a nominal amount of EUR 92 million plus accrued interest were acquired, and the payment claims thereunder were waived by the company’s direct shareholders through an unconditional shareholder contribution to Quant AB, thereby converting them to equity in Quant AB. After completion of the recapitalisation, the total outstanding nominal amount of the Group’s senior bonds issued by Quant AB amounts to EUR 25 million. On 29 January 2025, the company’s existing super senior revolving credit facility was refinanced and replaced by a new guarantee facility with total commitments of EUR 3 million. After the refinancing Quant has no revolving credit facilities or financial covenants.

The Quant AB senior secured notes due 2028 were admitted to trading on Frankfurt Stock Exchange’s Open Market with the first day of trading being 24 March 2025.

The Chairman and Member of the Board of the parent company Quant AB, Mr. Bo Elisson, resigned effective as of 25 March 2025.

Significant events after the quarter

On 5 May 2025, Quant announced that CEO Tomas Rönn will step down from his position, effective immediately. CFO Madelene Kärvin Nilsson assumed the CEO role on an interim basis until a long-term replacement is appointed.