Adapteo Q4: High activity and geographic expansion

Adapteo Q4: High activity and geographic expansion

Adapteo Plc Regulatory press release 18 February 2021 at 7:30 a.m. CET

October-December 2020

· Acquisition of the Dutch Cabin Group
· Agreement to acquire Stord Innkvartering
· Debt refinancing and share issue
· Rental sales amounted to EUR 36.1 (35.1 in Q4 2019) million. In constant
currencies, rental sales increased by 1%.
· Net sales amounted to EUR 65.3 (49.6) million. In constant currencies, net
sales increased by 29%.
· Comparable EBITDA was EUR 24.2 (20.6) million. Comparable EBITDA margin was
37.0% (41.6%).
· Operating cash flow before growth capex was EUR 18.4 (19.0) million.

Comments from the CEO

The fourth quarter of 2020 was characterised by a stable performance in
Adapteo’s continued business and by a high activity for increasing the Group’s
footprint and position in new geographies and market segments. Despite the
adverse effects from covid-19, our company has gained in competitiveness and
created a solid foundation for future growth. In addition to our circular
business model being part of our DNA, we have sharpened our sustainability
strategy and made further commitments for progress in the areas of environment,
human rights, labour and anti-corruption.

In the fourth quarter, Adapteo's continued business (“Old Adapteo”) posted
higher earnings than in the last quarter of 2019. This stable development has
been achieved in a quarter when a global pandemic has had a significantly
adverse effect on many market segments. In addition, we saw already for November
and December a positive contribution from our new colleagues in the Dutch Cabin
Group (DCG).

Conference call

A conference call with a presentation for investors, analysts and media will be
held today at 09.00 CET. The presentation will be held via tele conference and
webcast by 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.

Dial in numbers and links to conference call

Finland: +358 981710310
Sweden: +46 856642651
UK: +44 3333000804
USA: +1 6319131422

Conference id: 13418852#

Link to webcast: https://adapteo.videosync.fi/2021-02-18-q4-report2020

For additional information, please contact

Philip Isell Lind af Hageby, CEO, +46 73 022 19 36, [email protected]
Erik Skånsberg, CFO, +46 70 264 70 35, [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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