Goodtech

Earnings Release • Feb 23, 2024

Goodtech ASA The preferred partner for industrial efficiency

Margrethe Hauge CEO

Øyvind Osjord CFO

Highlights from Q4 2023 Goodtech ASA Webcast

Webcast Goodtech ASA Q4 2023

Summary

73 MNOK Cash from operations Q4 2023

Successful integration of Skala

Revenues and order backlog:

• 70% growth in revenuesfrom Q4 2022
• 8% growth in total order backlog from Q4 2022. Net reduction in Norway and net increase in Sweden in the quarter

Profitability:

▪ 16,8 MNOK increase in nominal EBITDA from Q4 2022 (+449%)

Cash flow:

• 73 MNOK cash from operations in the quarter
• 29 MNOK free cash flow

Capital structure:

▪ Robust capital structure, with 48% equity ratio and cash and cash equivalents in the balance sheet corresponding to 37% of total market capitalization per 31.12.2023

Successful integration of Skala Flytende from Q4 2023. The entity is included in all financial figures from Q4 2023

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Important announcements in Q4 2023

• Semi-automated assembly lines
• Module-based system supplied with
• complete production control system (MES)

LT Line SaaS-solution (+5 MNOK ARR)

Webcast Goodtech ASA Q4 2023

Revenues* | MNOK

EBITDA | MNOK

EBITDA-margin

Highlights – key financials

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• High activity in several larger projects

• 16,8 MNOK (+449%) nominal growth in EBITDA from Q4 2022

• 8,5% EBITDA-margin

Goodtech has classified the business at Åland as "Held for sale" in accordance with the guidelines in IFRS 5. Figures for Q4 in the graph differ from those reported in the Q4 2022-report due to updated recalculation in relation to the Group's IFRS 5 consideration.

Revenues and EBITDA related to the business at Åland for the entire 2022 is also excluded in the figures. The acquired Skala Flytende is included in the figures from Q4 2023 only.

Webcast Goodtech ASA Q4 2023 Robust capital structure

Webcast Goodtech ASA Q4 2023 Sales and order backlog*

Order backlog* | MNOK

Development in order backlog | Continuing operations

** In the report for Q3 2023 order intake was by mistake reported as 211 MNOK. The correct calculation of order intake is order backlog in the quarter minus order backlog in the previous quarter plus revenues in the quarter. Correct value of order intake for Q3 2023 was 285 MNOK as stated in the graph above.

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Webcast Goodtech ASA Q4 2023

Thank you!

Margrethe Hauge CEO

Øyvind Osjord CFO