Frill publishes forecast and financial targets after acquisitions

STOCKHOLM, April 27, 2021 08:30 CET

Due to the recent acquisitions, Frill Holding AB provides forecast and financial targets for both sales and earnings measured as EBITDA for the period 2021-2025. For the current year, sales are estimated to rise to SEK 71 million and then gradually rise to approximately SEK 565 million for the full year 2025. The EBITDA result for 2021 is estimated to be SEK 0.5 million and then gradually increase to SEK 210 million in 2025.

During the previous week, Frill announced that the company had acquired 100 percent of the shares in the companies IQ Fuel AB, Kling Homie AB and Nathalie’s Direct Trade AB. Previously, Frill also acquired Bezzt AB and signed an exclusive Nordic distribution agreement with Bacoccoli.

"I am very pleased that the Frill Group has in such a short time put together a product portfolio of very strong brands, which puts us in a good position to become one of the Nordic region's leading functional foods companies," said Peter Blom, CEO of Frill, in connection with the acquisitions and continued:

“Through a sufficiently large and properly composed product portfolio, we will be an interesting and strong counterpart for buyers at all levels - at both the large chains and at more specialized retailers of functional foods. This allows us to expand quickly, and we have eliminated the risk of a smaller company, with only a few brands/products to offer.”

In more detail, the company leaves the following financial targets after the acquisitions:

More information about Frill Holding's current brands

Frill

Frill is an innovative brand that has developed a unique technology platform for frozen foods. The range includes genuinely healthy products made from fruits, berries and vegetables without added sugar or cream. In 2021, a new product line will be launched with a new packaging design that is both sweeter and creamier than previous ranges. The products are sold i.e., in the grocery trade and through B2B services to corporate offices

Add Ice Cream

Add Ice Cream is a Swedish brand that sells and markets a healthy functional ice cream that delivers functional benefits such as proteins or vitamins. The focus during 2020 has been on the development of products within the brand that can reposition it and contribute to future higher sales and interest.

Bezzt of Nature

Bezzt of Nature and its current and upcoming products broaden Frill Holding's product portfolio and give the company access to a number of new sales channels, including great potential through digital sales. In 2021, several products will be launched under the Bezzt brand. The range that is currently being launched consists of four flavors of healthy sweets in portion bags, based on honey, algae and dietary fiber. During the second quarter of 2021, the launch of three types of snack bars and three types of chocolate cakes are planned, all of which are based on e.g. oats, honey and pea or milk protein. During the latter part of the year, chocolate in portion bags will also be launched.

Bacoccoli

Bacoccoli is an Italian brand founded by a Swedish couple. In Umbria, Italy, high-quality products such as olive oil, pasta, truffles and chocolate are produced. The recently announced exclusive agreement broadens Frill's product portfolio and entails an exclusive right to sell Bacoccoli's product portfolio in Sweden, Norway, Finland, Denmark and Iceland. Bacoccoli's products are offered directly to Swedish consumers via E-commerce and will be launched in DVH, delicatessens, market halls and restaurants.

iQ Fuel AB

iQ Fuel is a fast-growing Swedish brand that sells sports and functional drinks, enriched with vitamins and electrolytes. The drinks are without stimulating additives such as caffeine or taurine, which means that they can be sold without an age limit in a number of different channels, e.g. retail, the convenience market and in digital channels. The drinks have been well received from the start in 2019. A strong basis for growth is found through current distribution channels and the collaborations entered into with sports stars such as Alexander Isak, Nicklas Bäckström and sports organizations such as Hockeyallsvenskan, Swedish Floorball Association, Swedish Paddle Association, Swedish Elite Series in E-sports and the Swedish Ice Hockey Association.

Kling Homie AB

Kling Homie is a fast-growing Swedish lifestyle brand that works to optimize diet and health. The product range includes nutritional supplements, functional and energy drinks, dietary supplements and a number of other health products. The brand was started in 2018 and Kling Homie's range is sold at over 700 retailers, including some of Sweden's larger e-commerce platforms and food chains.

Nathalie’s Direct Trade AB

Nathalie’s Direct Trade sells and markets healthy snacks that both make the consumer feel good and at the same time feel that they are doing a good deed. Nathalie's current products include dried fruit in portion bags and the range will be expanded in 2021 with several new products. Finished products are purchased directly from farmers in Colombia and Frill's platform opens up new opportunities to scale up sales of the current range, launch new products and thus be able to make an even bigger difference for farmers and entrepreneurs in the countries of origin.

Responsible party

This information is such information Frill Holding AB (publ) is required to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the contact person below, for publication on April 27, 2021 at 08.30.

For further information, please contact:

Peter Blom, CEO Frill Holding AB

Tel: +46 706 555 698

E: mail: peter.blom@frill.se

About the Frill Group

Frill is an innovative company that has developed a unique food tech platform for the development of products within functional foods. Through organic growth and acquisition strategy, the company will become a leading company in Functional foods in the Nordic region and contribute to better health and quality of life.

Frill Holding creates useful dietary alternatives based on scientific facts and delivers affordable and healthy diets to consumers. The company is based in Stockholm and is listed on the Nasdaq First North Growth Market, short name FRILL B. FNCA Sweden AB is the company's Certified Adviser. Tel. +46 (0) 8 528 00 399, email info@fnca.se

The Frill Group consists of eight companies: Frill Holding AB (publ), Add Nutrition AB, Zendegii Frill Ltd. (UK), Frill Inc. (USA), Bezzt AB, Kling Homie AB, Nathalies Direct Trade AB and iQ Fuel AB.