Brödernas quarterly report for Jul-Sep 2024

November 27, 2024, 09.15 CET

Brödernas publishes quarterly report for Jul-Sep 2024 and provides certain updates in relation to the ongoing company restructuring

Brödernas Group AB (publ) hereby publishes the report for the third quarter (Q3) for the period 1 July - 30 September 2024. The report is available as an attached document and on the company's website (investors.brodernas.nu).

1 January - 30 September 2024

Net sales amounted to SEK 390m (423m)
EBITDA amounted to SEK 14m (30m)
Operational cash flow amounted to SEK -40m (21m)

1 July - 30 September 2024

Net sales amounted to SEK 129m (144m)
EBITDA amounted to SEK 2m (16m)

Pursuant to the terms and conditions for Brödernas Group AB (publ)'s senior secured callable fixed rate bonds, it shall ensure that net leverage ratio (net interest bearing debt to EBITDA) does not exceed 6.00x. For the reference period ending 30 September 2024, net leverage ratio (calculated in accordance with the terms and conditions for the bonds) is in excess of 6.00x, meaning that an event of default has occurred under the bond terms.

As of mid-October, the parent company and a majority of its subsidiaries, representing individual restaurants, are undergoing corporate restructuring under Swedish law. Financial and operational changes will be implemented during the restructuring process and as a part of its objective to return to a profitable business, some locations are being closed where sustainable operations cannot be achieved in the medium term. The process for closures includes, but is not limited to, bankruptcies in certain restaurant-owning subsidiaries. The number of locations/restaurants that could potentially be closed-down may be substantial compared with the number of restaurants the group operates today.

http://www.rns-pdf.londonstockexchange.com/rns/8399N_1-2024-11-27.pdf

For further information, please contact:

Richard Forsshéll, CEO

press@brodernas.nu 

This information is information that Brödernas Group AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted, through the provision of the specified contact person, for publication on 27 November 2024 at 09:15 CET.

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