Jordanes Investments - Trading update Q1 2024

Jordanes Investments AS – Trading update Q1 2024

Jordanes Investments AS (Company) has been informed that its parent company Jordanes AS(Jordanes) is currently exploring whether market conditions are favorable for a potential listing of Jordanes’ shares during 2024. In connection with this, the Company has today released the below trading update for the first quarter 2024.

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Jordanes AS– Q1 2024 highlights

·       Group: Revenue of NOK 1 663 million,up 7.6% YoY.
        Adj. EBITA of NOK 110 million, up 32.4% YoY.

·       Branded Foods: Revenue of NOK 956million, up 6.6% YoY.
       Adj. EBITA of NOK 89 million, up 17.0% YoY.

·       Casual Dining (incl. Backstube):Revenue of NOK 317 million, up 28.4% YoY.
       Adj. EBITA of NOK 3 million, up NOK10.4 million YoY.

·       Fitness & Beauty: Revenue of NOK140 million, up 1.1% YoY.
        Adj. EBITA of NOK 24 million, up 61.7% YoY.

·       International Brands: Revenue of NOK287 million, up 0.3% YoY.
        Adj. EBITA of NOK 10 million, up 1.9% YoY.

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Jordanes InvestmentsAS – Q1 2024 highlights

·       Group: Revenue of NOK 1 595 million,up 3.3% YoY.
        Adj. EBITA of NOK 108 million, up 26.2% YoY.

·       Branded Foods: Revenue of NOK 956million, up 6.6% YoY.
        Adj. EBITA of NOK 89 million, up 17.0% YoY.

·       Casual Dining: Revenue of NOK 250million, up 0.9% YoY.
        Adj. EBITA of NOK -1 million, up NOK 5.7 million YoY.

·       Fitness & Beauty: Revenue of NOK140 million, up 1.1% YoY.
        Adj. EBITA of NOK 24 million, up 61.7% YoY.

·       International Brands: Revenue of NOK287 million, up 0.3% YoY.
        Adj. EBITA of NOK 10 million, up 1.9% YoY.

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“Jordanes delivered another quarter of sustained profitable growth. In the first quarter of2024 all of our segments delivered both revenue and adjusted EBITA growth. We continue to improve operations through “One Jordanes” accomplishing 32% growthyear-over-year in adjusted EBITA,” says Jan Bodd, CEO & Co-founder ofJordanes.

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The information above is based on a preliminary assessment of the Company’s andJordanes' first quarter 2024 financial results and may be subject to change until the financial statements have been finally approved by the Company and Jordanes.

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The Company expects to release its first quarter 2024 report on Wednesday 29 May 2024.
For further information, please contact:
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Nikolai Steinfjell
CFO JordanesGroup
+47 975 44 712
ir@jordanes.no

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