Interim Report January - March 2023

A strong first quarter

• Quarterly net sales increased by 12 percent and EBITA excluding items affecting comparability improved by 156 percent,
  with a strong contribution from business areas East, West and North.
• Continued good cash flow from operating activities, despite economic uncertainty.
• Strong financial flexibility enables continued acquisitions in identified Swedish growth regions.

Magnus Persson, CEO Bellman Group, comments:

Bellman group got off to a good start in 2023, despite global economic uncertainty and increasingly challenging market conditions.  Both sales and earnings grew compared to the previous year. We see continued investments in major infrastructure projects in the country’s growth regions, especially in western Sweden and in Norrland, which provides our business with stability.

We have established a new organization with four business areas to further support geographical cooperation, focusing on comprehensive solutions for our customers. This is a change that, in addition to increased efficiency and stronger customer offerings, is expected to lead to even more joint projects.

This disclosure contains information that Bellman Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 25-05-2023 13:00 CET.

Contacts

Magnus Persson, VD
magnus.persson@bellmangroup.se
+46 (0) 70 583 5230

Roger Axelsson, CFO
roger.axelsson@bellmangroup.se
+46 (0) 70 874 504

About Bellman Group

Bellman Group is a construction company undergoing strong growth with a pronounced acquisition strategy. The Group operates in rock blasting, excavation, haulage, and handling of masses in Sweden. In 2022, Group net sales were SEK 3.9 billion. Bellman Group, with registered offices in Solna, Sweden, has approximately 720 employees and approximately 1,700 subcontractors. The parent company’s corporate bond is listed on Nasdaq Stockholm.