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Webcast Goodtech ASA Q2 2023

Kvartalsrapport Goodtech ASA Q2 2023 News Q2 2023

Webcast Goodtech ASA Q2 2023

From strategy to execution | Continuing to deliver on our promises

Webcast Goodtech ASA Q2 2023 Key financial figures*

Revenue* | MNOK

EBITDA |** MNOK

EBITDA-margin

Highlights

69% growth in revenues from Q2 2022. Highest revenue in any quarter ever reported for the continuing core business
The growth is driven by increased order backlog and higher share of goods in the project mix

3,1 MNOK improvement in EBITDA compared to Q2 2022 (+62%)

The lower EBITDA-margin than in Q1 is partly caused by increased goods as part of the project mix

Goodtech experienced 2 customer bankruptcies which impact EBITDA in Q2 2023. The total exposure of 4,1 MNOK is booked as provisions for increased cost of goods sold, personnel cost and other opex

* All figures contain Goodtech Solutions Manufacturing AB up until (and including) the transfer date to new owners at 31.08.2022. Goodtech has classified the business at Åland as "Held for sale" in accordance with the guidelines in IFRS 5. Revenues and EBITDA related to the business at Åland for the entire 2022 is also excluded in the figures above.

** In the report for Q1 2023 Goodtech reported effects totaling at 7,8 MNOK for Q4 2022 EBITDA, which were related to Goodtech's exposure to the 2019-bankruptcy of Goodtech Environment AB. The sum of these effects are now deducted from the reported EBITDA for Q4 2022 in the graph to the left to show the EBITDA for Goodtech's now continuing operations. Total EBITDA for the continuing operations for 2022 were 22,4 MNOK, as also reported in the annual report for 2022.