July - September
• Net sales for the quarter decreased to EUR 48.6 (51.2) million. Organically, net sales decreased by -2.0%
• During the quarter, the contract portfolio value decreased by net EUR -20.2 million. Two contracts renewed, none won. Three contracts were lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 132.9 million, compared to EUR 153.1 million at the end of the second quarter of 2024.
• Operating profit for the quarter amounted to EUR 2.9 million, compared to EUR 1.6 million prior year
• Adjusted EBITDA amounted to EUR 3.8 (3.0) million, excluding the effect of implemen¬tation of IFRS 16 Leases
• Cash flow from operating activities amounted to EUR -2.1 (-3.9) million, of which change in working capital amounted to EUR -3.1 (-4.8) million
• Net loss for the continuing business amounted to EUR -0.2 million compared to net loss EUR -1.3 million prior year
• The Adjusted EBITDA for discontinued operations was EUR 0.0
(-0.1) million and the net loss was EUR 0.0 (-0.1) million, which is not included in the reported numbers above
• Group net loss for the quarter, including discontinued operations, was EUR -0.2 (-1.3) million

January - September
• Net sales for the period decreased to EUR 146.7 (160.0) million. Organically, net sales decreased by -5.1%
• Operating profit amounted to EUR 4.5 million, compared to EUR 2.6 million prior year
• Adjusted EBITDA amounted to EUR 9.3 (8.7) million, excluding the effect of implemen¬tation of IFRS 16 Leases
• Cash flow from operating activities amounted to EUR -4.0 (-3.0) million, of which change in working capital amounted to EUR -4.3 (-3.3) million
• Net loss for the continuing business amounted to EUR -5.1 million compared to net loss EUR -4.8 million prior year
• The Adjusted EBITDA for discontinued operations was EUR 0.0
(-0.2) million and the net loss was EUR 0.0 (-0.2) million, which is not included in the reported numbers above
• Group net loss for the period, including discontinued operations, was EUR -5.1 (-5.1) million

Significant events during the quarter
On July 10th, the company announced the plan to explore potential refinancing solutions and intends to commence discussions with potential financing providers as well as its existing creditors.

On September 4th, Arauco terminated the contract as they had taken the decision to fully insource the maintenance functions. The impact on portfolio value will be EUR 19.3 million. The contract will terminate over the course of Q4 2024.

Significant events after the quarter
The company has commenced and is continuing discussions to explore potential refinancing solutions.

Telephone conference
A telephone conference where management comment on the report is held at 14:00 CET on November 15, 2024. Details for participation by telephone are found ahead of the call on www.quantservice.com/investors