Esmaeilzadeh Holding publishes interim report for the period January - December 2024

“Over the past months, EHAB has been actively working to manage the upcoming bond maturity and ensure a stable financial foundation. This has resulted in a well-founded proposal supported by our largest bondholders. The proposed extension would provide EHAB with the right conditions to realise value and thereby fulfil our commitments to our investors.”   - Mikael Ericsson, CEO

Financial overview

• Total net asset value was MSEK 6,384 (7,164), equivalent to SEK 8,117 (9,294) per ordinary share.
• Total assets were MSEK 8,076 (8,751).
• Net debt amounted to MSEK -1,469 (-1,308), which corresponds to a loan-to-value ratio (LTV) of 23% (18%). The equity ratio was 79% (82%).
• Net loss for the year amounted to MSEK -880 (-443) and earnings per share amounted to SEK -1,142 (-574). Loss for the fourth quarter amounted to MSEK -159 (-572) and earnings per share amounted to SEK -206 (-742). 

Significant events during the first quarter of 2024

• In November, EHAB signed a letter of intent with an international investor regarding the sale of EHAB's shares in Lyvia Group AB in order to address EHAB’s bond maturity. EHAB has since then communicated that it is uncertain whether the transaction can be completed in accordance with the intended structure and that the exclusivity commitment towards the investor has expired.
• During December, EHAB initiated a written procedure to primarily extend the tenor of the bond loan in order to be able to complete the sale of Lyvia before the bond’s maturity.

Significant events after the period

• In the beginning of January 2025, EHAB's bondholders approved the written procedure that the company had initiated in December 2024. The approval primarily entailed an extension of the maturity date for EHAB's outstanding bond loan to 26 April 2025.
• At end of February, EHAB announced a proposal to further amend the bond terms and refinance the bond loan, through a mandatory exchange of the company’s existing bonds for new secured bonds. The new bonds are proposed to have a tenor of three years and a fixed deferred interest of 11% per year, as well as be secured by the pledging of EHAB’s shares in material portfolio companies and a new wholly-owned intermediate holding company. The proposal for a securities exchange is subject to a written procedure being approved in accordance with the bond terms. 
• In February 2025, EHAB divested all its shares in Hidden Dreams AB. The payment was made in shares in Novedo Holding AB, Rebellion Capital AB and Centripetal Partner AB. The sale entails a dissolution of EHAB's remaining capital commitment to Hidden Dreams AB.

Webcast

EHAB’s CEO, Mikael Ericson, will present the report in a webcast on March 3rd, 2025 at 13:00 CET. Following the presentation, participants will have the opportunity to ask questions. You can join the webcast via the following link:

Esmaeilzadeh Holding AB - Investor Presentation - Jan-Dec 2024

It is also possible to participate via telephone conference through the following telephone number and conference ID:

+46 8 502 428 25

Conference ID: 484 023 835#

Local numbers (for participants outside Sweden)

For further information, please contact:

Mikael Ericson, CEO

mikael.ericson@ehab.group

The information was submitted for publication, through the agency of the contact person set out above, at 08.00 CET on 27 February 2025.

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. For more information, see www.ehab.group.