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Fuud publishes interim report July-September 2021

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STOCKHOLM, 5 nov, 2021 08.00 CEST

Financial information for the period July-September 2021*

  • Net sales for the period amounted to SEK 16,027 thousand (0)
  • Operating profit for the period before depreciation amounted to SEK -16,911 thousand (-138)
  • Equity at the end of the period amounted to SEK 154,277 thousand (122)
  • Earnings per share amounted to SEK -0.08 (0)
  • Cash flow from operating activities for the period amounted to SEK -19,993 thousand (-173)
  • Cash and cash equivalents at the end of the period amounted to SEK 6,414 thousand (103)

Pro forma January-September 2021 **

  • Net sales for the period amounted to SEK 50,843 thousand
  • Operating profit for the period before depreciation amounted to SEK -55,990 thousand
  • Operating profit for the period before depreciation / adjusted for restructuring and acquisition costs amounted to SEK -48,206 thousand

* Regarding comparative figures in financial information: Fuud AB acquired all shares in Bezzt AB on December 15, 2020. This acquisition is reported in accordance with the principles for reverse acquisition. Therefore, only comparative figures are shown for net sales and earnings for the acquired companies for the period 15 December 2020 to 31 December 2020 and for Bezzt AB for the full year.

** The pro forma report shows what the consolidated income statement would have looked like if the acquisitions had been completed as of January 1, 2021.

” During the third quarter, we have increased the distribution of our brands. We have also incurred large costs to lay a good foundation in our organizational platform. Several strategically important sales agreements are completed that will generate increased volumes in the future. Through organic growth and acquisitions, we challenge the existing players in one of the food industry's fastest growing categories. Our rapid journey has gained momentum and we look forward to continuing to deliver good development for our shareholders.”

  • Peter Blom, CEO Fuud AB

Significant events during the period

  • Beijing8 has been centrally listed on ICA from w.39 2021.
  • Fuud has initiated a collaboration with TV4 and Köket.se for marketing initiatives during quarters 3 and 4 2021.
  • During the period, several important recruitments took place:
    • Camilla Lönn took over as CFO in September. Camilla has previous experience as CFO at Karo Pharma, CFO at Boomerang, Business Controller at Mobiloperatören 3 and Svenssons in Lammhult.
    • Ali Nouri has taken on the role as Growth Manager. Ali Nouri took office in September and has extensive experience in e-commerce.
    • Fuud has recruited Louise Nobel as Marketing Director at Fuud. Louise has previously worked as Global Brand Manager for the NOCCO brand at Vitamin Well and held the role of Marketing Manager at Spotify. Louise will take over as Marketing Director at Fuud in November 2021.
  • Fuud has begun the establishment of a Norwegian organization. Björn Alvaer has been recruited as Country Manager and an organization will be established in Norway for the launch of Fuud's brands during the fourth quarter of 2021 and during 2022.
  • Fuud has entered into a two-year collaboration with HockeyAllsvenskan for marketing and sales efforts in 14 different locations around Sweden
  • An organization in Finland has been established. Fuud has recruited Casimir Reincke as Country Manager and a Finnish sales force has been established and marketing has begun.
  • iQ Fuel has been centrally listed in Finland's market-leading food chain S-gruppen, which has 1,100 stores. Distribution will begin in November 2021.
  • iQ Fuel has been centrally listed at Circle K in Sweden. The functional drinks have now started to be sold at the chain's approximately 300 retailers.
  • During the period, Fuud communicated the conversion outcome of the outstanding convertible loan that was communicated on April 22, 2021. In total, a nominal amount of SEK 81,499,993 was reported for conversion, which corresponds to approximately 96% of the outstanding convertible loan.

Significant events after the period

  • On October 18, 2021, Fuud completed a direct rights issue of SEK 40 million. The issue enables accelerated expansion for Fuud in the Nordic region.
  • The brand Homie’s functional drinks Synbiotic has been centrally listed at Reitangruppen and will in the first quarter of 2022 get distribution in all of Sweden's Pressbyrån and 7-Eleven stores.

Responsible party

This information is such information that Fuud AB (publ) is obliged to publish in accordance with the EU Market Abuse Regulation. The information was submitted, through the care of the above contact persons, for publication on November 5, 2021 at 08.00.

For more information, please contact

Peter Blom, CEO Fuud AB

Tel: +46 706 555 698

E-mail: peter.blom@fuudunited.com

About the Fuud Group

With the vision of being the Nordic market leader in 2025, Fuud brings together a number of exciting Swedish brands within functional foods under one roof, in order to jointly challenge the existing players in one of the food industry's fastest growing categories.

Fuud is growing through a combination of organic growth and acquisitions with a strong focus on high-quality content, exciting innovations and attractive design. Fuud's goal is to offer new and better alternatives than those already on the market, and at the same time contribute to both better health and increased quality of life for the Nordic population.

With a naturally built-in forward-thinking spirit, a strong and motivated sales force and a number of experienced key players in management and the board, Fuud has created a balance between muscle, drive and experience. The Fuud Group currently has ten brands: iQ Fuel, Homie, Beijing8, Juica, Juicekultur, Bacoccoli, Frill, Nathalie’s, Barfly and Bezzt of Nature.

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