January – September 2023

• Net sales increased to MSEK 10,292 (10,875), which corresponded to an organic net sales reduction of eight percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is mainly due to normalized freight rates and linked to the Group’s Air & Sea freight forwarding operations.
• Adjusted EBITA increased to MSEK 638 (635), which equaled an adjusted EBITA margin of 6.2 (5.8) percent.
• The period’s reported result included one-off items of MSEK -81 (32). Most of these referred to errors discovered in one of the Group’s companies in North America, which were corrected in the first quarter. The remaining part referred to a provision during the second quarter for additional consideration for an acquisition that has developed better than expected. Last year’s one-off items mainly referred to a revaluation of shares in associated companies in connection with a merger.
• Adjusted net result amounted to MSEK 223 (315), corresponding to SEK 6.19 (8.52) per share. The reduction is primarily due to higher interest expenses.
• Reported net result amounted to MSEK 156 (347), corresponding to SEK 4.32 (9.42) per share.
• Operating cash flow increased to MSEK 1,558 (715).
• Cash conversion increased to 113 (54) percent.

Third quarter 2023

• Net sales were MSEK 3,253 (3,979), which corresponded to an organic net sales reduction of eleven percent, excluding acquisitions and discontinued operations, and using unchanged exchange rates. The reduction is to a large extent due to normalized freight rates and linked to the Group’s Air & Sea freight forwarding operations.
• Adjusted EBITA amounted to MSEK 211 (224), which equaled an adjusted EBITA margin of 6.5 (5.6) percent.
• The period’s reported result included one-off items of MSEK 0 (-8). Last year’s one-off items referred to a provision for additional consideration for an acquisition that developed better than expected.
• Adjusted net result amounted to MSEK 66 (124), corresponding to SEK 1.83 (3.33) per share. The reduction is primarily due to higher interest expenses.
• Reported net result amounted to MSEK 66 (115), corresponding to SEK 1.83 (3.10) per share.
• Operating cash flow increased to MSEK 510 (229).
• Cash conversion increased to 106 (59) percent.

Further information can be found on Elanders' website www.elanders.com or requested via e-mail info@elanders.com.

Questions concerning this report can be addressed to:

Magnus Nilsson
President and CEO
Phone: +46 31 750 07 50

Andréas Wikner
Chief Financial Officer
Phone: +46 31 750 07 50

Elanders AB (publ)
(Company ID 556008-1621)
Flöjelbergsgatan 1 C
431 35 Mölndal, Sweden
Phone: +46 31 750 00 00

This information is information that Elanders AB 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 above, at 13:00 CET on 17 October 2023.