Stable performance with strong contribution from acquisitions

Strength lies in our decentralised business model and active acquisition strategy

The business climate in our main markets in the Nordic region remained stable during the second quarter of the year. In the prevailing market, we continued to deliver organic revenue growth that, together with strong contributions from acquisitions, resulted in EBITA growth of 35%, strong cash flow and healthy profit growth per share.

Comments on the market

The business situation in our main markets in the Nordic region was generally stable during the second quarter of the year. The market continued to be characterised by economic uncertainty, with cautious customers and a somewhat lower level of activity in some customer segments. The Group's primary focus – aftermarket products to Swedish industry – continued to generate stable sales in general, while sales of projects and OEM components were weaker.

The Group posted a positive sales trend with stable demand for the companies' products and services in most customer segments during the quarter. A low level of activity in certain product segments and among certain export-oriented customers, particularly in pulp and paper, continues to affect demand. This has been offset, however, by increased sales to other customer segments, such as the automotive segment, and to segments that are partly new to the Group, such as power generation and defence-related industries. Markets outside Sweden, particularly Denmark, were characterised by weak demand during the quarter. This was partly offset in Denmark by a strong performance for customers in the pharmaceutical industry.

Continued solid growth for our operations

The Group's operations delivered organic revenue growth of 1 per cent in the quarter. The Group's revenue increased by a total of 41% year on year, where acquired

businesses contributed in particular to this growth compared to last year, which contained one less trading day. EBITA increased by 35 per cent compared with the same quarter last year. Acquired businesses contributed to earnings growth during the quarter, while comparable companies successfully managed to match a somewhat lower organic growth rate with corresponding lower cost increases in order to post stable earnings. This once again demonstrates the strength of our decentralised business model.

Six new companies in the second quarter

During the quarter, the acquisitions of KmK Instrument, Hydjan, WH-Service, Sikama, ZRS Testing Systems and Minrox were completed. These companies clearly represent our focus on establishing a presence in several interesting customer segments and our shared goals: a strong business culture, being a leader in our areas, a focus on profitability and a desire to improve.

With seven acquisitions conducted so far this year, we have completed 22 acquisitions since our IPO just over two years ago that have contributed to the Group's excellent performance in terms of revenue and EBITA growth. This also means that we have succeeded in creating healthy profit growth per share for our shareholders, something that we also noted during the second quarter.

Continued healthy cash flow during the reporting period coupled with our financial position is enabling us to expand organically and has provided us with excellent

prerequisites to maintain a favourable acquisition rate in 2024.

In summary, we are continuing our established approach of developing and acquiring successful sustainable companies in the Nordic region.

Stockholm, July 2024

Ulf Lilius

President & CEO

Content

Sales performance

Comments on the market

Overall, the companies in the Group displayed good delivery capacity during the quarter, and purchasing prices and costs increased at a moderate rate.

The challenging international security situation, historically high interest rates and a more cautious attitude among customers are expected to continue to result in a somewhat sluggish market. The Group's companies are continually adopting measures to adapt to the prevailing

market situation. The Group's decentralised structure, with decisions made close to customers and suppliers, has proven to be a major strength in these efforts.

The current situation has not led to any changes in material bases of judgement compared with those applied in the annual report for 2023.

Performance in the second quarter of 2024

demand during the quarter. This was partly offset in Denmark by a strong performance for customers in the pharmaceutical industry.

Demand in the Infrastructure business area was stronger in the second quarter following seasonally weaker demand in the first quarter.

The companies in the Group are continuing to work closely with their customers to respond to changes in demand patterns and are continuing to restrict their costs.

During the second quarter, revenue increased 41 per cent compared with the year-earlier period and amounted to SEK 773 million (549). Growth in comparable units was 1 per cent. During the quarter, the acquisitions of KmK Instrument, Hydjan, WH-Service, Sikama, ZRS Testing Systems and Minrox were completed. The quarter included one more trading day than the corresponding quarter in the preceding year.

Growth in comparable units

compared with Q2 2023

+1%

Sales performance

	Q2	Jan-Jun
%	2024	2024
Comparable units in local currency	0.6%	2.9%
Currency effects	0.0%	0.0%
Number of trading days	2.4%	0.1%
Acquisitions	37.9%	33.5%
Total change	40.9%	36.5%

Content

Group financial development Momentum Group / Interim report January– June 2024 5

Earnings performance

Second quarter 2024

Operating profit rose by 31 per cent to SEK 77 million (59), corresponding to an operating margin of 10.0 per cent (10.7). Operating profit was charged with amortisation of intangible non-current assets of SEK –11 million (–6) arising in conjunction with acquisitions and with depreciation of right-of-use assets and tangible noncurrent assets of SEK –24 million (–17). No exchangerate translation effects were reported during the quarter (0). Acquisition-related expenses had an impact of SEK –2 million (–1) in the quarter.

EBITA increased by 35 per cent to SEK 88 million (65), corresponding to an EBITA margin of 11.4 per cent (11.8). The increase in profit is mainly due to acquisitions.

Profit after financial items totalled SEK 70 million (55). Earnings were impacted by an increase in the Group's financial expenses due to higher borrowing in connection with acquisitions and higher interest rates. Profit after tax totalled SEK 54 million (43), corresponding to earnings per share of SEK 1.05 (0.90) for the quarter.

January–June 2024 period

Operating profit rose by 25 per cent to SEK 142 million (114), corresponding to an operating margin of 9.9 per cent (10.8).

Operating profit was charged with amortisation of intangible non-current assets of SEK –21 million (–11) arising in conjunction with acquisitions and with depreciation of right-of-use assets and tangible non-current assets of SEK –46 million (–31). No exchange-rate translation effects were reported during the period (0). Acquisition-related expenses had an impact of SEK –4 million (–2) in the period.

EBITA increased by 30 per cent to SEK 163 million (125), corresponding to an EBITA margin of 11.4 per cent (11.9).

Profit after financial items totalled SEK 125 million (108). Earnings were impacted by an increase in the Group's financial expenses due to higher borrowing in connection with acquisitions and higher interest rates. Profit after tax totalled SEK 97 million (85), corresponding to earnings per share of SEK 1.90 (1.75) for the period.

		Q2			Jan-Jun			R12 Jun
MSEK	2024	2023	Δ	2024	2023	Δ	2024	2023	Δ
Revenue	773	549	41%	1,434	1,051	36%	2,681	1,945	38%
of which: Industry	446	414	8%	887	810	10%	1,687	1,514	11%
of which: Infrastructure	332	138	141%	556	249	123%	1,011	448	126%
of which: Group-wide and eliminations	-5	-3		-9	-8		-17	-17
Operating profit	77	59	31%	142	114	25%	265	213	24%
EBITA	88	65	35%	163	125	30%	303	231	31%
of which: Industry	61	59	3%	120	112	7%	229	204	12%
of which: Infrastructure	35	14	150%	59	27	119%	103	54	91%
of which: Group-wide and eliminations	-8	-8		-16	-14		-29	-27
Operating margin	10.0%	10.7%		9.9%	10.8%		9.9%	11.0%
EBITA margin	11.4%	11.8%		11.4%	11.9%		11.3%	11.9%

Content

Industry business area

Offers components and related services primarily to aftermarket customers and OEMs in the industrial sector in the Nordic region. The companies are mainly resellers, but with certain proprietary products and system construction, with a significant focus on industrial improvements. The business area consists of the Power Transmission and Specialist business units.

Operations

The development of sales and earnings in Power Transmission, which consists of the company Momentum Industrial, were positive during the quarter. Volume growth continues to be seen, particularly in the automotive segment. Sales to defence-related industries are also becoming more prominent. The weaker performance of pulp and paper customers continued. Sales to metal and mining customers were somewhat weaker compared with the preceding year as a result of a number of major project deliveries in the comparative period.

The companies in Specialist displayed a stable sales and earnings level for comparable units during the quarter. In addition, acquired businesses contributed SEK 25 million to revenue for the quarter. The Swedish businesses noted generally strong demand while demand was weaker for the Danish businesses. The acquisition of Hydjan Oy was completed during the quarter.

Financial performance in the second quarter of 2024

Revenue rose by 8 per cent to SEK 446 million (414) compared with the same quarter last year. Revenue for comparable units, measured in local currency and adjusted for the number of trading days, were unchanged compared to the previous year.

EBITA amounted to SEK 61 million (59), corresponding to an EBITA margin of 13.7 per cent (14.3). The business area's profitability, measured as the return on working capital (EBITA/WC), amounted to 69 per cent (68).

		Q2			Jan-Jun			R12 Jun
MSEK	2024	2023	Δ	2024	2023	Δ	2024	2023	Δ
Revenue	446	414	8%	887	810	10%	1,687	1,514	11%
EBITA	61	59	3%	120	112	7%	229	204	12%
EBITA margin	13.7%	14.3%		13.5%	13.8%		13.6%	13.5%
Return on working capital (EBITA/WC)							69%	68%

Content

Infrastructure business area

Offers products, services and solutions to industrial infrastructure customers that are critical for a functioning society. The companies are resellers and service companies, and often deliver solutions focused on secure operation, longer service life, increased efficiency and precise measurability. The business area comprises the Flow Technology and Technical Solutions business units.

Operations

Companies in Flow Technology generally performed well during the quarter, with favourable demand in Sweden. Demand in Denmark and Finland was somewhat weaker. This was partially offset in Denmark by major investments in the pharmaceutical sector. A significant part of the business unit consists of companies acquired in the current or preceding year. Acquired businesses contributed SEK 144 million to revenue for the quarter. The acquisitions of Sikama and Minrox were completed during the quarter.

In Technical Solutions, revenue increased for comparable units, with stable earnings during the second quarter. Capacity utilisation in the major workshops in Köping and Örebro was favourable, with revenue and earnings growth. Revenue declined somewhat for other workshops, but earnings were stable thanks to the initiatives implemented in the operations. Demand for the companies specialising in measurement technology and control also remained positive during the quarter. During the quarter, the acquisitions of KmK Instrument, WH-Service and ZRS Testing Systems were completed.

Financial performance in the second quarter of 2024

Revenue rose by 141 per cent to SEK 332 million (138) compared with the same quarter last year. Revenue for comparable units, measured in local currency and adjusted for the number of trading days, increased by 4 per cent.

EBITA increased by 150 per cent to SEK 35 million (14), corresponding to an EBITA margin of 10.5 per cent (10.1).

The business area's profitability, measured as the return on working capital (EBITA/WC), amounted to 58 per cent (65).

		Q2			Jan-Jun			R12 Jun
MSEK	2024	2023	Δ	2024	2023	Δ	2024	2023	Δ
Revenue	332	138	141%	556	249	123%	1,011	448	126%
EBITA	35	14	150%	59	27	119%	103	54	91%
EBITA margin	10.5%	10.1%		10.6%	10.8%		10.2%	12.1%
Return on working capital (EBITA/WC)							58%	65%

Content

Profitability, cash flow and financial position

Profitability

The Group's profitability, measured as the return on working capital (EBITA/WC), amounted to 59 per cent (60) for the most recent 12-month period. The return on equity for the same period was 29 per cent (32).

Cash flow for the period January–June 2024

Cash flow from operating activities before changes in working capital for the reporting period was SEK 153 million (123). Cash flow was impacted by paid tax of SEK –42 million (–27), of which SEK –8 million related to the final settlement of tax from the 2022 income year. In the reporting period, inventories increased by SEK 12 million. Operating receivables increased by SEK 36 million and operating liabilities by SEK 28 million. Accordingly, cash flow from operating activities for the reporting period amounted to SEK 133 million (112). Cash flow from investing activities for the reporting period amounted to SEK –108 million (–289). Cash flow includes business combinations of SEK –90 million (–284), settlements of deferred payments regarding acquisitions of SEK –12 million (–) and net investments in non-current assets of SEK –6 million (–5).

Cash flow from financing activities for the reporting period, which amounted to SEK 12 million (196), was mainly attributable to the net change in interest-bearing liabilities of SEK 63 million (246) and the dividend paid of SEK –56 million (–50), of which SEK –2 million (–1) pertained to the dividend to non-controlling interests in subsidiaries. Cash flow for the reporting period was also impacted in an amount of SEK 5 million (–) by sales of own shares in connection with acquisitions.

Financial position

The Group's financial net loan liability at the end of the reporting period was SEK 594 million, compared with SEK 514 million at the beginning of the year. At the end of the period, the Group's operational net loan liability amounted to SEK 381 million, compared with SEK 326 million at the beginning of the financial year. The difference is largely attributable to cash flow from operating activities, acquisitions and dividends paid during the period.

Cash and cash equivalents, including unutilised granted credit facilities, totalled SEK 731 million. Granted credit facilities comprise the company's revolving facility of SEK 800 million with a remaining maturity until 31 December 2026 and a committed credit facility totalling SEK 300 million with a maturity of one year (extended in April 2025). Of the company's revolving facility and committed credit facility, SEK 526 million and SEK 121 million, respectively, were unutilised at the end of the reporting period. At the end of the reporting period, the Group had met all financial obligations to lenders.

The equity/assets ratio at the end of the reporting period was 30 per cent (32). Equity per share totalled SEK 12.95 at the end of the reporting period, compared with SEK 12.50 at the beginning of the year.

The balance-sheet total at the end of the reporting period was SEK 2,124 million, compared with SEK 1,862 million at the beginning of the year. In addition to changes in working capital, the change during the year was partly attributable to acquisitions, and acquired assets and liabilities are presented in Note 4.

Equity/assets ratio

30%

Available cash and cash equivalents (SEK million)

731

EBITA/WC

Content

Business combinations

To date this year, Momentum Group has acquired seven companies, with combined annual revenue of approximately SEK 250 million. These acquisitions have further strengthened Momentum Group's position as a specialist company for customers in industry and industrial infrastructure in the Nordic region. The acquisitions are expected to have a positive impact on Momentum Group's earnings per share during the current financial year.

PW Kullagerteknik

In February, the subsidiary Agera acquired PW Kullagerteknik AB, a specialist in ball and rolling bearings.

KmK Instrument

In April, KmK Instrument AB, a specialist in measurement technology, non-destructive testing and material testing for Swedish industry, was acquired.

Acquisitions during 2023	Closing	Share	Revenue¹		Employees¹ Business Area	plier of rotating equipment primarily for the energy production sector in northern Sweden, was acquired.
Hydmos Industriteknik AB, SE²	2 February 2023	70%	17 MSEK	4	Infrastructure
LocTech AB, SE	1 March 2023	100%	13 MSEK	6	Industry	Sikama
Agera Industritillbehör AB, SE	16 February 2023	100%	15 MSEK	5	Industry	In May, Sikama AB, a specialist in gas and fluid han
Askalon AB, SE	5 June 2023	94%	317 MSEK	115	Infrastructure	dling for industrial customers in Sweden, was acquired.
Regal A/S, DK	30 June 2023	100%	34 MDKK	6	Industry	ZRS Testing Systems
Processkontroll Items AB, SE	3 July 2023	100%	50 MSEK	12	Infrastructure	In May, ZRS Testing Systems AB, a leading specialist
Conclean AB, SE²	1 September 2023	80%	47 MSEK	11	Infrastructure	in material testing and calibration for industrial custom
Cobalch ApS, DK²	15 November 2023	70%	17 MDKK	4	Infrastructure	ers in Sweden and Norway, was acquired.
WEH Sverige AB, SE	30 November 2023	100%	10 MSEK	1	Infrastructure	Minrox
Swerub AB, SE	30 November 2023	100%	40 MSEK	25	Industry	In June, the subsidiary BPS acquired Minrox AB, a spe
Helsingin Kumi Oy, FI	18 December 2023	100%	2 MEUR	7	Industry	cialist in flow technology for challenging environments
Acquisitions during 2024						and extremely abrasive processes for industrial cus
PW Kullagerteknik AB, SE	13 February 2024	100%	12 MSEK	3	Industry	tomers in Sweden. Part of the purchase price was paid through transfer of own B shares.
KmK instrument AB, SE²	4 April 2024	70%	70 MSEK	16	Infrastructure
Hydjan Oy, FI	2 May 2024	100%	1.2 MEUR	6	Industry	For acquisition analyses and other disclosures about
WH-Service AB, SE²	14 May 2024	70%	35 MSEK	11	Infrastructure	the acquisitions closed during the reporting period,
Sikama AB, SE²	15 May 2024	60%	55 MSEK	20	Infrastructure	refer to Note 4. Closing dates and acquired holdings are presented in the table.
ZRS Testing Systems AB, SE	29 May 2024	100%	32 MSEK	8	Infrastructure
Minrox AB, SE	10 June 2024	100%	34 MSEK	2	Infrastructure	1 Refers to information for the full year on the date of acquisition. 2 Momentum Group initially acquired 60–80 per cent of the shares in

Hydjan

In May, Hydjan Oy, a specialist in hydraulics and pneumatics in Finland, was acquired.

WH-Service

In May, WH-Service AB, a leading comprehensive supplier of rotating equipment primarily for the energy production sector in northern Sweden, was acquired.

Sikama

ZRS Testing Systems

Minrox

Content

each company. For the remaining 20–40 per cent, the sellers have a put option and Momentum Group has a call option. The price of the options is dependent on certain results being achieved in the companies.

Other

Parent Company for the period January–June 2024

The Parent Company's revenue for the reporting period amounted to SEK 11 million (7) and the loss after financial items totalled SEK –11 million (–16). The loss after tax for the reporting period amounted to SEK –9 million (–13).

Employees

At the end of the reporting period, the number of employees in the Group amounted to 807, compared with 749 at the beginning of the year.

The share

Momentum Group's Class B share (ticker MMGR B) has been listed on Nasdaq Stockholm since 31 March 2022. The share price as of 30 June 2024 was SEK 173.40 (121.50).

On 7 May 2024, the Board decided, with the authorisation of the Annual General Meeting, to establish a repurchase programme to adapt the capital structure and to enable future acquisitions of businesses and operations to be paid for using treasury shares. The decision applies to repurchases of a maximum of 10 per cent of the number of Class B shares outstanding until the 2025 Annual General Meeting.

During the second quarter, Minrox AB was acquired, which was partly paid for through the transfer of 29,260 own Class B shares to the sellers at a price per share of SEK 170.87. The price corresponds to the volumeweighted average price of the company's Class B share on Nasdaq Stockholm during the ten trading days immediately preceding the closing date.

As of 30 June 2024, the holding of Class B treasury shares totalled 1,053,766 shares, corresponding to approximately 2 per cent of the total number of shares.

At the end of the period, the share capital amounted to SEK 25.2 million. The distribution by class of share was as follows:

Class of share

Total number of shares after repurchasing	49,427,123
Less: Repurchased Class B shares	–1,053,766
Total number of shares before repurchasing	50,480,889
Class B shares (1 vote/share)	49,916,816
Class A shares (10 votes/share)	564,073

Long-term incentive program

The Annual General Meeting in May 2024 resolved to implement a long-term incentive program ("LTIP 2024") aimed at senior executives. The program, which entails a requirement for own investment, consists of performance shares and may comprise a maximum of 108,250 Class B shares, which corresponds to approximately 0.2 percent of all shares and votes in Momentum Group, before any recalculations. Allotment of performance shares is based on a number of different performance criteria, including the development of the company's earnings per share. Read more at momentum.group

Election Committee ahead of the 2025 AGM

The Annual General Meeting on 7 May 2024 resolved that the Election Committee ahead of the 2025 Annual General Meeting will consist of Peter Hofvenstam (nominated by Nordstjernan), Stefan Hedelius (nominated by Tom Hedelius), Jens Joller (nominated by Ampfield Management) and Claes Murander (nominated by Lannebo Fonder), with Peter Hofvenstam as the Election Committee's Chairman.

Transactions with related parties

No transactions having a material impact on the Group's position or earnings occurred between Momentum Group and its related parties during the reporting period. The related-party transactions in place pertain primarily to lease expenses in acquired companies. These leases

have been entered into on market terms. The remuneration of senior executives follows the guidelines established by the General Meeting.

Risks and uncertainties

Momentum Group's earnings, financial position and strategic position are impacted by a number of factors that are within the control of Momentum Group as well as a number of external factors. The most important external risk factors for Momentum Group are the economic and market situation for the industrial sector. Other risks include the competitive situation in the Group's markets and the significance of efficient logistics with high accessibility, in which the accessibility of the Group's logistics centres are important for certain flows of goods, as well as a dependence on identifying and developing relationships with qualified suppliers. The Group's opportunities and risks also include the completion of acquisitions and related capital requirements and the intangible surplus value that this can result in. Cyber-related risks are also considered important.

The future trend in the market and in demand may be impacted by the challenging security situation. Delivery times and the availability of components as well as rising prices, interest rates and inflation could also impact market conditions. The Parent Company is impacted indirectly by the above risks and uncertainties through its function in the Group.

Events after the end of the period

No significant events have occurred after the end of the period.

This report has not been reviewed by the Company's auditors

Content

The Board of Directors and the President & CEO affirm that this interim report provides a true and fair overview of the operations, position and earnings of the Company and the Group, and that it describes the material risks and uncertainties to which the Company and the Group are exposed.

Stockholm, 17 July 2024

Johan Sjö

Chairman of the Board

Anders Claeson Board member Stefan Hedelius Board member

Gunilla Spongh Board member Ylva Ersvik Board member

Ulf Lilius President & CEO

Dates for forthcoming financial information

Momentum Group / Interim report January– June 2024 11

24 October 2024

Interim Report for the third quarter of 2024

14 February 2025

Year-end report 2024

Contact information

Ulf Lilius, President & CEO [email protected] Tel: +46 70 358 29 31

Niklas Enmark, CFO [email protected]

Tel: +46 70 393 66 73

Content

Group

	Q2		Jan-Jun		Full year
MSEK	2024	2023	2024	2023	R12 Jun	2023
Revenue	773	549	1,434	1,051	2,681	2,298
Other operating income	2	1	4	2	6	4
Total operating income	775	550	1,438	1,053	2,687	2,302
Cost of goods sold	-402	-286	-747	-548	-1,400	-1,201
Personnel costs	-195	-134	-356	-254	-657	-555
Depreciation, amortisation, impairment losses and reversal of impairment losses	-35	-23	-67	-42	-125	-100
Other operating expenses	-66	-48	-126	-95	-240	-209
Total operating expenses	-698	-491	-1,296	-939	-2,422	-2,065
Operating profit	77	59	142	114	265	237
Financial income	0	1	1	1	6	6
Financial expenses	-7	-5	-18	-7	-32	-21
Net financial items	-7	-4	-17	-6	-26	-15
Profit after financial items	70	55	125	108	239	222
Taxes	-16	-12	-28	-23	-54	-49
Net profit	54	43	97	85	185	173
Of which attributable to:
Parent Company shareholders	53	44	94	85	179	170
Non-controlling interests	1	-1	3	0	6	3
Earnings per share (SEK)
Before dilution	1.05	0.90	1.90	1.75	3.60	3.45
After dilution	1.05	0.90	1.90	1.75	3.60	3.45

Condensed income statement Condensed statement of comprehensive income

		Q2 Jan-Jun			Full year
MSEK	2024	2023	2024	2023	R12 Jun	2023
Net profit	54	43	97	85	185	173
Other comprehensive income for the period Components that will not be reclassified to net profit
Total components that will not be reclassified to net profit	-	-	-	-	-	-
Components that will be reclassified to net profit
Translation differences	-3	2	3	3	-6	-6
Fair value changes for the year in cash-flow hedges	0	0	1	0	0	-1
Tax attributable to components that were or can be reclassified to net profit	0	0	0	0	0	0
Total components that will be reclassified to net profit	-3	2	4	3	-6	-7
Other comprehensive income for the period	-3	2	4	3	-6	-7
Comprehensive income for the period	51	45	101	88	179	166
Of which attributable to: Parent Company shareholders	50	46	98	88	174	164
Non-controlling interests	1	-1	3	0	5	2

Content

Consolidated financial statements Momentum Group / Interim report January– June 2024 13

Condensed balance sheet

MSEK	30 Jun 2024	30 Jun 2023	31 Dec 2023
ASSETS
Non-current assets
Intangible non-current assets	875	679	789
Tangible non-current assets	30	24	27
Right-of-use assets	217	179	194
Financial non-current assets	3	2	2
Deferred tax assets	3	2	2
Total non-current assets	1,128	886	1,014


Current assets Inventories	397	336	366
Accounts receivable	446	375	388
Other current receivables	69	43	47
Cash and cash equivalents	84	37	47
Total current assets	996	791	848

MSEK	30 Jun 2024	30 Jun 2023	31 Dec 2023
EQUITY AND LIABILITIES
Equity
Equity attributable to Parent Company shareholders	640	534	617
Non-controlling interests	56	30	39
Total equity	696	564	656

Non-current liabilities
Non-current interest-bearing liabilities	279	272	303
Non-current lease liabilities	131	107	116
Other non-current liabilities and provisions	249	168	209
Total non-current liabilities	659	547	628
Current liabilities
Current interest-bearing liabilities	186	70	70
Current lease liabilities	82	64	72
Accounts payable	269	227	228
Other current liabilities	232	205	208
Total current liabilities	769	566	578
TOTAL LIABILITIES	1,428	1,113	1,206
TOTAL EQUITY AND LIABILITIES	2,124	1,677	1,862

Content

Consolidated financial statements Momentum Group / Interim report January– June 2024 14

Statement of changes in equity Condensed cash-flow statement

Equity attributable to Parent

			Company shareholders
MSEK	Share capital	Reserves	profit/loss for earnings incl. Retained the year	Total	Non-controlling interests	Total equity
Closing equity, 31 Dec 2022	25	4	469	498	27	525
Net profit			85	85	0	85
Other comprehensive income		3	0	3	-	3
Dividend			-49	-49		-49
Acquisitions of partly owned subsidiaries				0	4	4
Dividends paid in partly owned subsidiaries				0	-1	-1
Option liability, acquisitions¹			-5	-5		-5
Change in value of option liability²			2	2		2
Closing equity, 30 Jun 2023	25	7	502	534	30	564
Net profit			85	85	3	88
Other comprehensive income		-9	0	-9	-1	-10
Sales of own shares³			17	17		17
Acquisitions of partly owned subsidiaries				0	7	7
Option liability, acquisitions⁴			-10	-10		-10
Change in value of option liability²			0	0		0
Closing equity, 31 Dec 2023	25	-2	594	617	39	656
Net profit			94	94	3	97
Other comprehensive income		4	0	4	-	4
Dividend			-54	-54		-54
Sales of own shares⁵			5	5		5
Acquisitions of partly owned subsidiaries				0	16	16
Dividends paid in partly owned subsidiaries				0	-2	-2
Option liability, acquisitions⁶			-26	-26		-26
Change in value of option liability²			0	0		0
Closing equity, 30 Jun 2024	25	2	613	640	56	696

		Q2		Jan-Jun	Full year
MSEK	2024	2023	2024	2023	R12 Jun	2023
Operating activities Cash flow from operating activities before changes in working capital	88	65	153	123	310	280
Changes in working capital	-16	-11	-20	-11	-29	-20
Cash flow from operating activities	72	54	133	112	281	260
Investing activities Purchase of intangible and tangible non-current assets	-3	-4	-5	-5	-12	-12
Acquisition of subsidiaries and other business units	-86	-267	-102	-284	-242	-424
Purchase of financial non-current assets	-	-	-1	-	-1	-
Cash flow from investing activities	-89	-271	-108	-289	-255	-436
Cash flow before financing	-17	-217	25	-177	26	-176
Financing activities Financing activities	58	216	12	196	22	206
Cash flow for the period	41	-1	37	19	48	30
Cash and cash equivalents at the beginning of the period	45	37	47	17	37	17
Exchange-rate differences in cash and cash equivalents	-2	1	0	1	-1	0
Cash and cash equivalents at period-end	84	37	84	37	84	47

¹ Pertains to the value of put options in relation to non-controlling interests in the acquired subsidiary Hydmos Industriteknik AB, which entail that the shareholders are entitled to sell their shares to Momentum Group. The price of the options is dependent on certain results being achieved in the company and may be extended from 2026 by one year at a time.

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² Pertains to a change in the value of the put options in relation to non-controlling interests issued in conjunction with the acquisitions of partially owned subsidiaries.

³ Pertains to the transfer of 154,830 own Class B shares in conjunction with the acquisitions of Conclean AB and transfer of 21,768 own Class B shares in conjunction with the acquisition of Swerub AB.

Pertains to the value of put options in relation to non-controlling interests in the acquired subsidiaries Conclean AB and Cobalch ApS, which entail that the shareholders are entitled to sell their shares to Momentum Group. The price of the options is dependent on certain results being achieved in the companies and may be extended from 2027 by one year at a time.

⁵ Pertains to the transfer of 29,260 own Class B shares in conjunction with the acquisitions of Minrox AB.

Pertains to the value of put options in relation to non-controlling interests in the acquired subsidiaries KmK Instrument AB, WH-Service AB and Sikama AB, which entail that the shareholders are entitled to sell their shares to Momentum Group. The price of the options is dependent on certain results being achieved in the companies and may be extended from 2027 by one year at a time.

Parent Company

Condensed income statement Condensed balance sheet

	Q2		Jan-Jun		Full year
MSEK	2024	2023	2024	2023	R12 Jun	2023
Revenue	6	4	11	7	21	17
Other operating income	2	0	3	2	4	3
Total operating income	8	4	14	9	25	20
Operating expenses	-15	-14	-27	-26	-52	-51
Operating loss	-7	-10	-13	-17	-27	-31
Financial income and expenses	1	1	2	1	4	3
Profit/loss after financial items	-6	-9	-11	-16	-23	-28
Appropriations	-	-	-	-	97	97
Profit/loss before tax	-6	-9	-11	-16	74	69
Taxes	1	2	2	3	-16	-15
Net profit/loss	-5	-7	-9	-13	58	54

MSEK	30 Jun 2024	30 Jun 2023	31 Dec 2023
ASSETS
Intangible non-current assets	-	-	-
Tangible non-current assets	-	-	-
Financial non-current assets	43	235	43
Current receivables	754	328	810
Cash and cash equivalents	-	-	-
TOTAL ASSETS	797	563	853


EQUITY, PROVISIONS AND LIABILITIES
Restricted equity	25	25	25
Non-restricted equity	60	34	118
Total equity	85	59	143
Untaxed reserves	69	46	69
Provisions	-	-	-
Non-current liabilities	274	272	298
Current liabilities	369	186	343
TOTAL EQUITY, PROVISIONS AND LIABILITIES	797	563	853

The Parent Company has its own internal bank function tasked with coordinating the Group's financial activities and ensuring that systems are available for efficient cash management. To support this, the Parent Company is the holder of the Group's cash pool and the Parent Company's current receivables and liabilities essentially comprise the subsidiaries' utilisation of credit facilities and the subsidiaries' surplus in the cash pool. At the beginning of the year, current receivables included Group contributions of SEK 120 million, which were settled during the first quarter 2024.

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Notes

1. Accounting policies

The Interim Report for the Group was prepared in accordance with IFRS and by applying IAS 34 Interim Financial Reporting, the Swedish Annual Accounts Act and the Swedish Securities Market Act. In addition to the financial statements and associated notes, other disclosures in accordance with IAS 34.16A are also presented in other sections of the report. The Interim Report for the Parent Company was prepared in accordance with the Swedish Annual Accounts Act and the Swedish Securities Market Act, which conforms to the provisions detailed in RFR 2 Accounting for Legal Entities. The same accounting policies and bases of judgement as in the annual report for 2023 have been applied. IASB has issued additions and amendments to standards that will take effect for the Group on or after 1 January 2024. These additions and amendments are deemed not to be material for the consolidated financial statement.

Parent Company accounting policies

The Parent Company applies the Swedish Annual Accounts Act (1995:1554) and recommendation RFR 2 Accounting for Legal Entities issued by the Swedish Financial Reporting Board. RFR 2 stipulates that the Parent Company, in the annual accounts for the legal entity, is to apply all IFRS and statements adopted by the EU to the greatest extent possible within the framework of the Swedish Annual Accounts Act and with due consideration given to the relationship between accounting and taxation. The recommendation states which exceptions/additions should be made from/to IFRS. Combined, this results in differences between the Group's and the Parent Company's accounting policies in the primary areas of subsidiaries, leased assets, taxes, Group contributions and shareholder contributions.

2. Financial instruments

Momentum Group measures financial instruments at fair value or amortised cost in the balance sheet depending on their classification. In addition to items in financial net debt, financial instruments also include accounts receivable and accounts payable. The carrying amount of all of the Group's financial assets is deemed to be a reasonable approximation of their fair value. Assets and liabilities measured at fair value comprise hedging instruments for which fair value is based on observable market data and which are therefore included in level 2 according to IFRS 13 and liabilities for contingent purchase considerations that are measured using discounted cash flow and which are thus included in level 3.

published in full in the annual report for 2023.

MSEK	30 Jun 2024	30 Jun 2023	31 Dec 2023

Financial assets measured at fair value
Financial investments	0	0	0
Derivative hedging instruments	0	1	0
Financial assets measured at amortised cost
Long-term receivables	3	2	2
Accounts receivable	446	375	388
Other current receivables	1	1	1
Cash and cash equivalents	84	37	47
Total financial assets	534	416	438
Financial liabilities measured at fair value
Derivative hedging instruments	0	0	2
Contingent purchase considerations	38	18	30

Financial liabilities measured at amortised cost
Option liability	79	43	53
Deferred payment acquired business, non interest bearing	16	27	16
Interest-bearing liabilities	678	513	561
Accounts payable	269	227	228
Total financial liabilities	1,080	828	890

balance sheet depending on their classification. In addition to items in financial net		Jan-Jun	Jan-Jun	Full year
debt, financial instruments also include accounts receivable and accounts payable.	Contingent purchase considerations	2024	2023	2023
The carrying amount of all of the Group's financial assets is deemed to be a reasona	Opening balance	30	11	11
ble approximation of their fair value. Assets and liabilities measured at fair value com	Acquisitions during the period	7	7	23
prise hedging instruments for which fair value is based on observable market data and which are therefore included in level 2 according to IFRS 13 and liabilities for contin	Change in value	0	0	0
gent purchase considerations that are measured using discounted cash flow and	Change in value related to discounting factor	1	0	1
	Confirmed or settled during the period	-	-	-5
The accounting policies for the Group and the Parent Company are	Closing balance	38	18	30

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Notes Momentum Group / Interim report January– June 2024 17

3. Operating segments and information on income

Since 1 January 2024, the Group's operating segments have consisted of the Industry and Infrastructure business areas. The operating segments are consolidations of the operating organisation, as used by the Group management and Board of Directors to monitor operations. Group management, comprising the CEO and CFO, are the Group's chief operating decision makers. Industry consists of businesses that offer components and related

services primarily to aftermarket customers and OEMs in the industrial sector in the Nordic region. Infrastructure consists of businesses offering products, services and solutions to customers in industrial infrastructure that are critical to a functioning society. Group-wide includes the Group's management, finance and support functions. The support functions include internal communications, investor relations, M&A and legal affairs.

Financial items and taxes are not distributed by operating segment but recognised in their entirety in Group-wide. Intra-Group pricing between the operating segments occurs on market terms. The accounting policies are the same as those applied in the consolidated financial statements. Revenue presented for the geographic markets below is based on the domicile of the customers.

	Jan-Jun 2024
		Infra		Elimin	Group
MSEK	Industry		structure Group-wide	ations	total
Revenue
From external customers per country
Sweden	735	456	-	-	1,191
Norway	28	9	-	-	37
Denmark	84	39	-	-	123
Finland	18	38	-	-	56
Other countries	18	9	-	-	27
From other segments	4	5	5	-14	-
Total	887	556	5	-14	1,434
Revenue
From external customers by class of
revenue
Sale of goods	816	417	-	-	1,233
Service assignments	65	130	-	-	195
Other income	2	4	-	-	6
From other segments	4	5	5	-14	-
Total	887	556	5	-14	1,434
EBITA	120	59	-16	-	163
Items affecting comparability	-	-	-	-	-
Amortisation of intangible assets in	-7	-14	-	-	-21
connection with corporate acquisitions
Operating profit/loss	113	45	-16	0	142

	Jan-Jun 2023
		Infra		Elimin	Group
MSEK	Industry		structure Group-wide	ations	total
Revenue
From external customers per country
Sweden	692	230	-	-	922
Norway	25	3	-	-	28
Denmark	70	4	-	-	74
Finland	2	4	-	-	6
Other countries	19	2	-	-	21
From other segments	2	6	5	-13	-
Total	810	249	5	-13	1,051
Revenue
From external customers by class of revenue
Sale of goods	748	157	-	-	905
Service assignments	58	84	-	-	142
Other income	2	2	-	-	4
From other segments	2	6	5	-13	-
Total	810	249	5	-13	1,051
EBITA	112	27	-14	-	125
Items affecting comparability	-	-	-	-	-
Amortisation of intangible assets in connection with corporate acquisitions	-5	-6	-	-	-11
Operating profit/loss	107	21	-14	0	114

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Notes Momentum Group / Interim report January– June 2024 18

4. Business combinations

Momentum Group conducted seven business combination with closing during the reporting period. The acquisitions are described on page 9.

Acquisition analysis – business combinations with closing during the reporting period

The total purchase consideration for the acquisitions was SEK 162 million, excluding acquisition costs. Acquisition costs totalling approximately SEK 3 million were recognised in the item other operating expenses. In accordance with the preliminary acquisition analysis presented below, SEK 67 million of the purchase consideration has been allocated to goodwill and SEK 38 million to customer relations. The acquisition analyses for acquisitions closed during the second quarter are preliminary. The acquisition analyses from the first quarter are final.

The allocation to customer relationships is based on the discounted value of future cash flows attributable to each asset class, where an assessment was conducted that included margin, tied-up capital and turnover rate of the customer base, among other things. Goodwill on the acquisition date refers to the amount by which the cost of the acquired net assets exceeds their fair value. Goodwill is motivated by the anticipated future sales performance and profitability as well as the fact that the subsidiaries' position in their current markets is expected to be strengthened.

The acquisition analyses that are considered preliminary are largely because the acquisitions were closed only recently.

Impact on the Group's cash and cash equivalents

In addition to the acquisitions completed during the reporting period, cash flow from the acquisition of subsidiaries has also been affected by the settlement of a deferred payment of SEK 12 million.

	Fair value
MSEK	recognised in the Group
Acquired assets:
Intangible non-current assets	38
Right-of-use assets	19
Other non-current assets	4
Inventories	18
Other current assets incl. cash and cash equivalents	107
Total assets	186
Acquired provisions and liabilities: Interest-bearing liabilities	-
Lease liabilities	19
Deferred tax liability	12
Current operating liabilities	44
Total provisions and liabilities	75
Net of identified assets and liabilities	111
Goodwill¹	67
Non-controlling interests²	-16
Purchase consideration	162
Less: Net cash in acquired business	-65
Less : Contingent purchase consideration³	-7
Effect on the Group's cash and cash equivalents	90

¹ Of recognised goodwill of SEK 67 million, non is expected to be tax deductible.

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² Non-controlling interest is calculated as the proportional share of the identified net assets.

³ Contingent purchase considerations is recognised at a value corresponding to some 46 per cent in average of a maximum outcome. The outcome of the contingent purchase considerations will be determined continuously during 2025-2027 and is dependent on the earnings of the acquired subsidiary. The potential undiscounted amount to be paid amounts to approximately SEK 17 million.

Performance measures

Momentum Group uses certain financial performance measures in its analysis of the operations and their performance that are not defined in accordance with IFRS. Momentum Group believes that these alternative performance measures provide valuable information for the company's Board of Directors, owners and investors, since they enable a more accurate assessment of current trends and the company's performance when combined with other performance measures calculated in accordance with IFRS.

	Q2		Jan-Jun		R12 Jun
MSEK	2024	2023	2024	2023	2024	2023
IFRS performance measures
Revenue	773	549	1,434	1,051	2,681	1,945
Profit for the period	54	43	97	85	185	160
IFRS performance measures per share (SEK)
Earnings per share before dilution	1.05	0.90	1.90	1.75	3.60	3.20
Earnings per share after dilution	1.05	0.90	1.90	1.75	3.60	3.20
Other performance measures per share
Equity per share before dilution, at the end of the period					12.95	10.85
Equity per share after dilution, at the end of the period					12.95	10.85
Number of shares (thousands of shares)
Number of shares before dilution	49,427	49,221	49,427	49,221	49,427	49,221
Weighted number of shares before dilution	49,398	49,221	49,398	49,221	49,389	49,245
Weighted number of shares after dilution	49,398	49,221	49,398	49,221	49,389	49,245
Other performance measure
No. of employees at the end of the period					807	692
Share price, SEK					173.40	121.50

Since not all listed companies calculate these financial performance measures in the same way, there is no guarantee that the information is comparable with other companies' performance measures of the same name. Hence, these financial performance measures must not be viewed as a replacement for those measures calculated in accordance with IFRS.

	Q2		Jan-Jun		R12 Jun
MSEK	2024	2023	2024	2023	2024	2023
ALTERNATIVE PERFORMANCE MEASURES Income statement-based performance measures
Operating profit	77	59	142	114	265	213
of which: Items affecting comparability	-	-	-	-	-	-
of which: Amortisation of intangible non-current assets in connection with acquisitions	-11	-6	-21	-11	-38	-18
EBITA	88	65	163	125	303	231
Profit after financial items	70	55	125	108	239	203
Operating margin	10.0%	10.7%	9.9%	10.8%	9.9%	11.0%
EBITA margin	11.4%	11.8%	11.4%	11.9%	11.3%	11.9%
Profit margin	9.1%	10.0%	8.7%	10.3%	8.9%	10.4%
Profitability performance measures
Return on working capital (EBITA/WC)					59%	60%
Return on capital employed					22%	28%
Return on equity					29%	32%
Performance measures on financial position
Financial net loan liability					594	476
Operational net loan liability/receivable +/-				381	305
Equity attributable to Parent Company shareholders					640	534
Equity/assets ratio					30%	32%

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Performance measures Momentum Group / Interim report January– June 2024 20

Definitions of alternative performance measures and their purpose

Operating profit

Profit before financial items and tax. Used to present the Group's earnings before interest and tax.

Items affecting comparability

Items affecting comparability include revenue and expenses that do not arise regularly in the operating activities. Items affecting comparability for the period pertain to costs for preparations ahead of the separate listing and mainly pertain to advisory costs, review costs and separation costs. The separate disclosure of items affecting comparability clarifies the development of operational activities.

EBITA

Operating profit adjusted for items affecting comparability and before any impairment of goodwill and amortisation and impairment of other intangible assets arising in connection with acquisitions and equivalent transactions. Used to present the Group's earnings generated from operating activities.

Operating margin, %

Operating profit relative to revenue. Used to measure the Group's earnings generated before interest and tax and provides an understanding of the earnings performance over time. Specifies the percentage of revenue remaining to cover interest payments and tax and to provide profit after the Group's expenses have been paid.

EBITA margin, %

EBITA as a percentage of revenue. Used to measure the Group's earnings generated before interest and tax and provides an understanding of the earnings performance over time. The EBITA margin based on revenue from both external and internal customers is presented per business area (operating segment).

Profit margin, %

Profit after financial items as a percentage of revenue. Used to assess the Group's earnings generated before tax and presents the share of revenue that the Group may retain in earnings before tax.

Return on working capital (EBITA/WC), %

EBITA for the most recent 12-month period divided by average working capital measured as total working capital (accounts receivable and inventories less accounts payable) at the end of each month for the most recent 12-month period and the opening balance at the start of the period divided by 13. The Group's internal profitability target, which encourages high EBITA and low tied-up capital. Used to analyse profitability in the Group and its various operations.

Return on capital employed, %

Operating profit plus financial income for the most recent 12 month period divided by average capital employed measured as the balance-sheet total less non-interest-bearing liabilities and provisions at the end of the most recent four quarters and the opening balance at the start of the period divided by five. Presented to show the Group's return on its externally financed capital and equity, meaning independent of its financing.

Return on equity, %

Net profit for the most recent 12-month period divided by average equity measured as total equity attributable to Parent Company shareholders at the end of the most recent four quarters and the opening balance at the start of the period divided by five. Used to measure the return generated on the capital invested by the Parent Company's shareholders.

Financial net loan liability

Financial net loan liability measured as non-current interestbearing liabilities and current interest-bearing liabilities, less cash and cash equivalents at the end of the period. Used to monitor the debt trend and analyse the Group's total indebtedness including lease liabilities.

Operational net loan liability / Net loan receivable

Operational net loan liability measured as non-current interestbearing liabilities and current interest-bearing liabilities excluding lease liabilities less cash and cash equivalents at the end of the period. Used to monitor the debt trend and analyse the Group's total indebtedness excluding lease liabilities.

Equity/assets ratio, %

Equity attributable to Parent Company shareholders as a percentage of the balance-sheet total at the end of the period. Used to analyse the financial risk in the Group and show how much of the Group's assets are financed by equity.

Change in revenue for comparable units

Comparable units refer to sales in local currency from units that were part of the Group during the current period and the entire corresponding period in the preceding year. Trading days refer to the effect on sales in local currency depending on the difference in the number of trading days compared with the comparative period. Other units refer to the acquisition or divestment of units during the corresponding period. Used to analyse the underlying sales growth driven by changes in volume, the product and service offering, and the price for similar products and services across different periods. Refer to the reconciliation table on page 4.

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Performance measures Momentum Group / Interim report January– June 2024 21

Derivation of alternative performance measures1

	Q2		Jan-Jun		R12 Jun
EBITA	2024	2023	2024	2023	2024	2023
Operating profit	77	59	142	114	265	213
Items affecting comparability	-	-	-	-	-	-
Amortisation of intangible non current assets in connection with corporate acquisitions	11	6	21	11	38	18
EBITA	88	65	163	125	303	231
Items affecting comparability
Listing and separation costs	-	-	-	-	-	-
Total items affecting comparability	-	-	-	-	-	-
Operating margin
Operating profit	77	59	142	114	265	213
Revenue	773	549	1,434	1,051	2,681	1,945
Operating margin	10.0%	10.7%	9.9%	10.8%	9.9%	11.0%

EBITA margin
EBITA Revenue	88 773	65 549	163 1,434	125 1,051	303 2,681	231 1,945
EBITA margin	11.4%	11.8%	11.4%	11.9%	11.3%	11.9%

Profit margin
Profit after financial items	70	55	125	108	239	203
Revenue	773	549	1,434	1,051	2,681	1,945
Profit margin	9.1%	10.0%	8.7%	10.3%	8.9%	10.4%
EBITA/WC
Average inventories					368	283
Average accounts receivable					387	283
Total average operating assets					755	566
Average accounts payable						-184
Average working capital (WC)					512	382
EBITA					303	231
EBITA/WC					59%	60%

Jan-Jun	R12 Jun
2024 Return on capital employed	2023 2024	2023
Average balance sheet total	1,866	1,225
Average non-interest-bearing non-current liabilities	-204	-104
Average non-interest-bearing current liabilities	-452	-348
Average capital employed	1,210	773
Operating profit	265	213
Financial income	6	2
Total operating profit + financial income	271	215
Return on capital employed	22%	28%
Return on equity
Average equity attributable to parent company shareholders	607	493
Profit for the period attributable to the Parent Company shareholders	179	158
Return on equity	29%	32%
Financial net loan liability
Non-current interest-bearing liabilities	410	379
Current interest-bearing liabilities	268	134
Current investments	-	-
Cash and cash equivalents	-84	-37
Financial net loan liability	594	476
Operational net loan liability/receivable +/-
Financial net loan liability	594	476
Lease liability	-213	-171
Operational net loan liability/receivable +/-	381	305
Equity/assets ratio
Balance-sheet total	2,124	1,677
Equity attributable to the Parent Company shareholders	640	534
Equity/assets ratio	30%	32%

¹ Pertains to balance-sheet items, and performance measures related to financial position pertain to the closing balance for each year.

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Performance measures Momentum Group / Interim report January– June 2024 22

Historical financial information1

				R12
MSEK	30 Jun 2024	31 Dec 2023	31 Dec 2022	31 Dec 2021	31 Dec 2020	31 Mar 2020	31 Mar 2019
Revenue	2,681	2,298	1,739	1,491	1,163	1,254	1,196
Operating profit	265	237	185	155	130	130	111
EBITA	303	265	204	171	134	134	114
Net profit	185	173	140	117	99	99	84
Intangible non-current assets	875	789	383	284	175	177	165
Right-of-use assets	217	194	138	127	51	60	-
Other non-current assets	36	31	22	19	12	8	7
Inventories	397	366	285	213	176	193	191
Current receivables	515	435	328	271	175	227	220
Cash and cash equivalents and current investments	84	47	17	70	145	31	29
Total assets	2,124	1,862	1,173	984	734	696	612
Equity attributable to Parent Company shareholders	640	617	498	458	337	259	143
Non-controlling interests	56	39	27	17	6	5	-
Interest-bearing liabilities and provisions	678	561	198	132	147	193	141
Non-interest-bearing liabilities and provisions	750	645	450	377	244	239	328
Total equity and liabilities	2,124	1,862	1,173	984	734	696	612
Operating margin	9.9%	10.3%	10.6%	10.4%	11.2%	10.4%	9.3%
EBITA margin	11.3%	11.5%	11.7%	11.5%	11.5%	10.7%	9.5%
Return on working capital (EBITA/WC)	59%	59%	61%	61%	54%	52%	46%
Return on equity	29%	31%	29%	30%	35%	49%	51%
Financial net loan liability	594	514	181	62	2	162	112
Operational net loan liability/receivable +/-	381	326	48	-61	-45	107	112
Equity/assets ratio	30%	33%	42%	47%	46%	37%	23%
Earnings per share before and after dilution, SEK	3.60	3.45	2.70	2.30	1.90	1.95	1.65
Equity per share, SEK	12.95	12.50	10.10	9.05	6.70	5.15	2.85
Share price, SEK	173.40	130.50	58.51	-	-	-	-
No. of employees at the end of the period	807	749	558	484	329	339	335

¹ Pertains to balance-sheet items, and performance measures related to financial position pertain to the closing balance for each year.

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Developing and acquiring successful sustainable companies in the Nordic region

Momentum Group is a leading company offering sustainable products and services and related value-creating services to the industrial sector. Momentum Group is an active owner that focuses on developing and acquiring companies in the product and service categories where we possess knowledge, expertise and experience. Momentum Group traces its origins to Bergman & Beving, which has built a number of successful operations over a period of more than 100 years.

Revenue SEK million1

2 681

EBITA growth¹

31%

Profitability EBITA/WC¹

59%

Employees²

807

Our financial targets EBITA growth: >15%

Profitability EBITA/WC: >45%

Dividend: >30%

Mission

Together for a sustainable industry

Our operations, together with their customers, partners and other stakeholders, must contribute to creating a sustainable industry in the Nordic region from a social, environmental and financial perspective.

Business concept

We will make the everyday lives of our customers easier, safer and more profitable – by offering sustainable products and services

For the Group's customers, it is important to maintain good profitability in their operations. Our companies sell quality products and related services that create value for the customer throughout the life of the product or service.

Vision

The customer's best sustainable choice

Our various companies focus on understanding customer needs in order to offer the best solution for the customer, based on their situation and needs.

Our focus areas

We develop

Business development through active ownership.

We build culture

Business development through decentralised responsibility and employee development.

We acquire

Growth through acquisitions of sustainable companies.

Östermalmsgatan 87 E, SE-114 59 Stockholm, Org No: 559266-0699, Board of Directors' registered office: Stockholm Tel: +46 8 92 90 00, momentum.group

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