YA Holding AB (publ) publishes quarterly interim report Q1 2024

YA Holding AB (publ) ("YA Holding" or the "Company") publishes quarterly interim report for the period 1 January 2024–31 March 2024.

First quarter (January – March) 2024

• Net sales decreased by 21.2% and amounted to 191.3 MSEK (242.8).
• EBIT amounted to -12.4 MSEK (-6.4).
• EBIT excluding non-recurring items amounted to 3.1 MSEK (-6.4).
• Total cash flow for the quarter was -14.6 MSEK (2.6).
• The average number of participants and students was 10 053 (10 498).
• The share of participants employed three months after completing employment training (AUB) or vocational secondary education (VUX) was 50% (59%).

Significant events during and after the quarter

On 22 January 2024, YA Group won 9 new contracts for professional bus and truck driver employment training. The value of the contracts won, in terms of revenue, is estimated to be approximately 90-100 MSEK annually for YA Group based on YA Holding’s estimation of participant levels. The contract period is two years with the possibility of an extension of another one plus one year. The agreements have been signed and the first delivery date under the agreements was 1 April 2024.

On 8 February 2024, an extraordinary general meeting was held in YA Holding, where it was resolved that Johan Pålsson will no longer be a member of the board of directors. Following the extraordinary general meeting, the board of directors consists of Katarina Axelsson Lindgren (chair), Conny Karlsson and Daniel Nejman.

On 1 March 2024, YrkesAkademin AB submitted a proposed restructuring plan to Falu District Court (Sw. Falu tingsrätt) and requested a plan negotiation (Sw. planförhandling) that same date. On 4 March 2024, Falu District Court approved YrkesAkademin AB’s request for a plan negotiation and the District Court summoned relevant parties to a plan meeting as part of YrkesAkademin AB’s corporate restructuring process. On 12 March 2024, Falu District Court also granted YrkesAkademin AB’s request to extend the corporate restructuring with additional three months until 4 June 2024.

In March 2024, YA Holding entered into an agreement with a committee of bondholders under the Company’s outstanding senior secured bonds regarding, among other things, a refinancing arrangement and certain amendments to the terms and conditions of the outstanding bond loan. To carry out the refinancing arrangement and implement the suggested amendments to the terms and conditions, YA Holding initiated a written procedure on 1 March 2024 and the bondholder’s approval was obtained on 20 March 2024.

On 8 April 2024, YrkesAkademin AB’s plan meeting took place at the Falu District Court and on 15 April 2024, Falu District Court approved YrkesAkademin AB’s restructuring plan. The District Court’s decision was not appealed, meaning that the restructuring plan gained legal force (Sw. vann laga kraft) on 7 May 2024. As a result, YrkesAkademin AB submitted a request to Falu District Court on 10 May 2024 to terminate the corporate restructuring and on 22 May 2024 the District Court decided that the corporate restructuring formally ends.

Further, the work in relation to the implementation of the refinancing arrangement commenced in connection with the restructuring plan in YrkesAkademin AB gaining legal force on 7 May 2024. As previously announced, the refinancing arrangement involves, among other things, a restructuring of the capital structure and certain liabilities in the Company, including a write-down of the outstanding bond loan, certain amendments to the terms and conditions of the outstanding bond, and raising of new financing. As was announced in a press release on 27 May 2024, the implementation of the refinancing arrangement is expected to be concluded on or around 7 June 2024. For more information on the amended and restated terms and conditions of the outstanding bond loan, please refer to section “Revised bond terms” in the quarterly report.

The report is available at www.ya.se

The information was submitted, through the provision of the specified contact person, for publication 2024-05-30 09:00 CEST.

Sender
Martin Modig, CEO YA Holding AB (publ)

For press questions, please contact:
Alice Hedin, acting press secretary
Phone: +46 (0) 70 878 91 05
E-mail: alice.hedin@ya.se