June-September

• Net sales for the period increased by 4.8% to EUR 47.9 (45.7) million due to the acquisition of Sataservice in August 2018. Organically, net sales decreased by 1.4%
• During the quarter three contracts were won, one contract was renewed, three contracts were lost, and two contracts were divested, which on balance affected the contract portfolio negatively. Portfolio run rate annualized net sales at the end of the quarter was EUR 178.4 million, compared to EUR 186.6 million during the second quarter of 2019
• Operating profit amounted to EUR 0.5 million, compared to a loss of EUR -1.1 million prior year
• Adjusted EBITDA increased to EUR 3.8 million from EUR 3.0 million prior year, excluding the effect of implementation of IFRS 16 Leases. Adjusted EBITDA with IFRS 16 implementation was EUR 4.9 million. Currency effects had a minor negative effect in the period
• Cash flow from operating activities amounted to EUR 7.6 (0.9) million, of which change in working capital amounted to EUR 6.2 (4.0) million
• Net loss amounted to EUR -1.7 million compared to a loss of EUR -5.0 million prior year
• The Adjusted EBITDA for Discontinued operations was EUR -0.5 (-0.7) million and the net loss was EUR -1.5 (-1.2) million, which is not included in the reported numbers above.
• Group net loss for the quarter, including discontinued operations, was EUR -3.2 (-6.1) million

January-September

• Net sales for the period increased by 16.7% to EUR 146.3 (125.4) million due to the acquisition of Sataservice in August 2018. Organically, net sales was flat compared to prior year
• Operating loss amounted to EUR -1.7 million, up from a loss of EUR -1.9 million prior year
• Adjusted EBITDA increased to EUR 10.0 million from EUR 9.0 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currency Adjusted EBITDA would have been EUR 10.2 million. Adjusted EBITDA with IFRS 16 implementation was EUR 13.3 million
• Cash flow from operating activities amounted to EUR 10.4 (‑3.9) million, of which change in working capital amounted to EUR 8.9 (-3.6) million
• Net loss amounted to EUR -6.7 million compared to EUR -14.3 million prior year
• The Adjusted EBITDA for Discontinued operations was EUR -1.6 (-0.7) million and the net loss was EUR -17.0 (-1.8) million, which is not included in the reported numbers above. Group net loss for the first nine months of the year, including discontinued operations, was EUR -23.7 (-16.1) million

Significant events during the quarter

• On September 27, Quant announced that the Group CEO, Johan Ericsson, will retire during 2020
• On September 30, Quant announced an extension of the maintenance contract with long-time partner Norilsk Nickel, and a related financing of their spare parts inventory, with a positive effect on the company’s cash flow of EUR 7.2 million in the quarter

Stockholm, 29 November 2019

Quant AB (publ) 

For further information, please contact:

Linda Höljö, CFO: +46 72 507 40 85

André Strömgren, SVP, Transformation & Investor Relations: +46 708 410 796

E-mail: ir@quantservice.com

Quant AB (publ) is a global leader in industrial maintenance. For over 30 years, we have been realizing the full potential of maintenance for our customers. From embedding superior safety practices and building a true maintenance culture, to optimizing maintenance cost and improving plant performance, our people make the difference. We are passionate about maintenance and proud of ensuring we achieve our customers’ goals in the most professional way. The group operates internationally in close to 30 countries world-wide, employing 2,600 people. The parent company is located in Stockholm, Sweden.

Quant AB (publ) is privately held by Nordic Capital since 2014. For additional information about the group, please visit www.quantservice.com.

This information is information that Quant is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 08:00 CET on 29 November 2019.