Adapteo Q1: A strong start to 2021

Adapteo Q1: A strong start to 2021

Adapteo Plc Regulatory press release 04 May 2021 at 8:00 a.m.CEST

January-March 2021

· Acquisition of Stord Innkvartering completed on 29 January 2021.

· Rental sales amounted to EUR 39.0 (31.5 in Q1 2020) million. In constant
currencies, rental sales increased by 20%. Organic growth (“Old Adapteo”) was
5%.

· Net sales amounted to EUR 68.2 (49.1) million. In constant currencies, net
sales increased by 34%. Organic growth (“Old Adapteo”) was 6%.

· Comparable EBITDA was EUR 26.0 (20.4) million. Comparable EBITDA margin was
38.1% (41.6%).

· Operating cash flow before new building capex was EUR 18.2 (12.3) million.

Comments from the CEO

We have had a good start to 2021 with most of our markets seeing higher volumes
than a year ago. We have done several upgrades and improvements to our
offering, with Adapteo now being better equipped than ever to offer improved
sustainable solutions to our customers and to a society which is ever more aware
of the importance of circular business models. A significant milestone was
reached during the quarter with the order for the Fehmarn Belt FLC village, the
largest order in the company’s history.

Some market segments are still affected by the ongoing pandemic. However, we
have compensated for the impact by focusing on segments where demand is higher,
resulting in year-on-year growth. Rental sales for “Old Adapteo” increased by 5%
compared to Q1 2020. The inclusion of our acquisitions of Dutch Cabin Group and
Stord Innkvartering also had a positive impact on year-on-year earnings and
create a solid foundation for future growth.

Conference call

A conference call with a presentation for investors, analysts and media will be
held today at 09.00 CEST. The presentation will be held via teleconference and
webcast by Adapteo´s President and CEO Philip Isell Lind af Hageby and CFO Erik
Skånsberg.

The session will start with a presentation, followed by a Q&A session and will
be held in English. A recorded version will be available after the conference at
www.adapteogroup.com under Investors.

Link to webcast: https://adapteo.videosync.fi/2021-05-04
-q1_2021 (https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fadapt
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7C1000&sdata=8RDhmQ9PCslCQJtcqW0OSGj%2Bn0zT77yPGEhlYeiB2CQ%3D&reserved=0)

Dial in numbers to conference call:

Finland: +358 981 710 310
Sweden: +46 856 642 651
UK: +44 333 300 0804
USA: +1 631 913 1422

Conference id: 13418852#

For additional information, please contact

Jesse Räisänen, Vice President, Treasury & Investor relations, +358 45 175 56
88, [email protected]
Erik Skånsberg, CFO, +46 702 647 035, [email protected]

Adapteo in brief

Adapteo is a leading flexible real estate provider in Northern Europe. We build,
rent out and sell adaptable buildings for schools, daycare centres, care,
offices, accommodation and events. We know that our society will go through an
immense change in the years to come. Whatever the future brings, we believe that
adaptability is the best solution. With our buildings, we can transform,
repurpose, scale up and scale down in a matter of weeks by using a modular and
circular building concept. Our buildings can be used for a few days or
indefinitely, always optimised for current needs. That is how we build adaptable
societies.

Adapteo is listed on Nasdaq Stockholm and operates in Sweden, Finland, Norway,
Denmark, Germany, and The Netherlands. In 2020, Adapteo’s Net sales were EUR 231
million.

www.adapteogroup.com

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