Esmaeilzadeh Holding publishes year-end report for 2022

“We are leaving an eventful year behind us that has been formative for EHAB and our investment portfolio. We have taken methodical strides in establishing ourselves as an entrepreneurial investment company with profitability and long-term sustainability as its basic idea. This is substantiated by the journeys our portfolio companies have been through, which have resulted in new levels of maturity, size, and stability. We head into the new year with strong confidence from the capital market, a well-proven strategy, and the necessary organisation for implementing our plans for 2023.” - 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 twelve-month period amounted to MSEK 3,000 (1,450) and earnings per share amounted to SEK 3,952 (4,618). Loss for the fourth quarter amounted to MSEK -131 (299) and earnings per share amounted to SEK -172 (574).

Significant events during the fourth quarter of 2022

• Spartacus Partners AB’s general meeting decided in November to distribute all shares owned in Botello, Dentalum, Novedo and Samfastigheter plus a receivable which the company owned. Thus, these portfolio companies’ shares are owned directly only by EHAB, which results in a simpler ownership structure.
• EHAB has acquired a claim on Centripetal Partner AB of MSEK 20 plus interest, and shares in Centripetal Partner AB of MSEK 11, from Dr. Saeid AB. EHAB also participated in a new issue of shares in the company where claims of MSEK 46 were offset against shares at a valuation of MSEK 455. After the issue, EHAB's ownership in Centripetal Partner AB amounts to 69.8%.
• EHAB held an extraordinary general meeting on 30 November 2022. The general meeting decided on the issue of shares and to elect Rasmus Ingerslev as a new member in the company’s board.
• Novedo and Rebellion separately announced their first acquisitions of companies in Denmark, thereby expanding the groups’ presence beyond Sweden’s borders.

Significant events after the period

• In January 2023, EHAB issued additional bonds at a nominal value of MSEK 375 as part of existing bond loans. The bonds were placed at 92.5% of par and are intended to be admitted to trading on the corporate bond list at Nasdaq Stockholm.
• 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 addition, Jan Johansson was elected new chairman of the board at an extraordinary general meeting on 12 January 2023.
• During the first two months of 2023, EHAB sold shares in Sdiptech AB (publ) to a value of MSEK 86. In addition, EHAB entered into an agreement with Systematic Group AB to exchange 424,000 Class A shares, which EHAB owned in Sdiptech AB (publ), for an equal number of Class B shares in the same company. The exchange gives EHAB increased flexibility to trade the shares in the future. 
• In February 2023, Novedo issued additional bonds in an amount of MSEK 250 under its existing framework.

Video conference

The company’s CEO, Saeid Esmaeilzadeh, will present the report during a video conference meeting on Wednesday, 1 March 2022, at 13:00 CET. After the presentation, participants will have the opportunity to ask questions. Participants are requested to register through the following link:

Video conference meeting - Year-end report

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 08.00 CET on 28 February 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. EHAB’s net asset value amounts to approximately SEK 7.7 billion. For more information, see www.ehab.group.