Esmaeilzadeh Holding publishes annual report and sustainability report for 2023

"We continue to promote EHAB's financial stability and value creation, with the ambition of making EHAB debt-free in 2024. At the same time, we actively support our portfolio companies to strengthen their business development and increase the portfolio's resilience. We are confident that these initiatives are well in line with our long-term strategy." - Mikael Ericson, Chief Executive Officer

Financial overview

• Total net asset value was MSEK 7,164 (7,607), equivalent to SEK 9,294 per share (9,869).
• Total assets were MSEK 8,751 (8,817).
• Net cash/debt amounted to MSEK -1,308 (-1,133), resulting in a loan-to-value ratio (LTV) of 18% (15%). The equity ratio was 82% (86%).
• Loss for the year amounted to MSEK -443 (3,000) and earnings per share amounted to SEK -574 (3,952).

Significant events during the 2023 financial year

• In January, EHAB issued additional bonds at a nominal value of MSEK 375 as part of existing bond loans.
• In May, Lyvia Group carried out a directed new share issue amounting to MSEK 405. The new issue was carried out at a pre-money valuation of BSEK 6.
• In June, Dentalum carried out a new share issue of MSEK 153 in which EHAB participated by investing MSEK 80. Dentalum has subsequently announced that the company has entered into a loan agreement with Danske Bank to refinance its previous bond loan.
• In August, Lyvia's subsidiary, Mirovia Nordics AB (publ), redeemed all of the company's outstanding bonds of MSEK 800. This was possible due to Lyvia obtaining a loan facility of BSEK 1.6 from the leading Nordic banks Danske Bank and DNB.
• In  November, EHAB announced the company's ambition to become debt-free in 2024 and that several initiatives are being evaluated with the aim of realising values in the investment portfolio. In connection with this, a written procedure was initiated to implement certain amendments to the company's bond terms and conditions, which were subsequently approved by the bondholders.
• In the segment Operational Groups the following acquisitions were made during the year:
  • Novedo acquired four companies with a total annual turnover of MSEK 484.
  • Rebellion completed one acquisition, its first in Finland. 
  • Lyvia completed ten acquisitions with total annual sales in excess of MSEK 600. The group also completed its first acquisitions in the UK, Norway and Benelux during the year.
  • Dentalum acquired one new dental clinic.

Significant events after the 2023 financial year

• In January, EHAB's shareholders' meeting decided on a new issue of preference shares, which resulted in a capital injection of MSEK 100. 
• In February, EHAB announced certain changes to EHAB's board and management team. Mikael Ericson was appointed CEO, Saeid Esmaeilzadeh as Chairman of the Board and Mouna Esmaeilzadeh as Deputy Chair.

For further information, please contact:

Mikael Ericson, CEO

mikael.ericson@ehab.group

For press related enquires, please contact:

Michaela Abercrombie Simpson, Head of Communication

Phone: +46 736 301 403

The information was submitted for publication, through the agency of the contact persons set out above, at 12.30 CEST on 26 April 2024.

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.