Esmaeilzadeh Holding publishes annual report and sustainability report for 2022

“During the past year we have methodically continued executing our plans despite a turbulent business climate. The year began with strong confidence from the capital market in form of a bond loan of BSEK 1.2. The capital was used according to plan to invest in our portfolio companies, with the basic idea that discipline and resilience creates long-term value. The portfolio companies have grown and developed to new levels during the year, which is also reflected in our balance sheet. We are ready for an exciting 2023 and look forward with confidence to taking the next step in EHAB’s development.” - Saeid Esmaeilzadeh, Chief Executive Officer

Financial overview

• Total net asset value was MSEK 7,607 (4,514), equivalent to SEK 9,869 per share (5,955).
• The balance sheet total was MSEK 8,817 (4,516).
• Net cash/-debt amounted to MSEK -1,133 (16), resulting in a loan-to-value ratio (LTV) of 15% (0%). The equity ratio was 86% (100%)
• Profit for the year amounted to MSEK 3,000 (1,450) and earnings per share amounted to SEK 3,952 (4,618). 

Significant events during the 2022 financial year

• In January 2022, EHAB issued a bond loan of BSEK 1.2 under a framework of BSEK 2.4 in total. The bond loan has a term of three years with an annual interest rate of 3m STIBOR + 7.5 percent.
• In May, the portfolio company Rebellion issued a bond with a framework totalling BSEK 1. The company also secured a new targeted share issue of MSEK 200 during the same period.
• During May, EHAB decided to conduct a merger of several portfolio companies, thereby forming a new group of companies, Lyvia Group AB. Also, Lyvia decided on a targeted share issue which amounted to MSEK 284.
• During August, Novedo successfully issued additional bonds of MSEK 250 as part of existing bond loan.
• In the segment Operational Groups, the following acquisitions were made during the year:
  • Novedo took ownership of 11 companies with a total annual turnover of MSEK 1,623.
  • Rebellion made 12 acquisitions, including its first in Denmark.
  • Lyvia completed a total of 18 external acquisitions.
  • Dentalum acquired 11 dental clinics.

Significant events after the 2022 financial year

• In January 2023, EHAB issued additional bonds at a nominal value of MSEK 375 under its existing bond framework.
• During January 2023 it was announced that Novedo had initiated a dual-track process, which means that other options for changing ownership are being explored in parallel with the work that is underway for listing on the stock exchange.
• In February 2023, Novedo issued additional bonds in an amount of MSEK 250 under its existing framework.
• During March and April, EHAB acquired all shares in Eitrium AB from Lyvia and minority shareholders in the company. The acquisition price consisted of cash and amounted to a total of MSEK 147, of which MSEK 136 was paid to Lyvia. 

For further information, please contact:

Saeid Esmaeilzadeh, CEO and founder

+46 707 18 70 61, saeid@ehab.group

Nils Fredrik Lagerstrand, General Counsel & Deputy CEO

+46 720 90 26 99, nilsfredrik@ehab.group

The information was submitted for publication, through the agency of the contact persons set out above, at 16.00 CEST on 28 April 2023.

About Esmaeilzadeh Holding AB (publ)

EHAB is an entrepreneurially driven investment company that invests in and develops resilient companies within selected industries. The primary focus is investments in operational groups with opportunities for both organic and acquisition-based growth. For more information, see www.ehab.group.