First Mover Group: Q3 2022 Financial results

29 Nov 2022 21:25 CET

Skoyen, Oslo, 29 November 2022
First Mover Group (Company) is a leading Nordic company helping companies
undergoing a relocation process.

Highlights from Q3 report:
• Q3 Revenue 96.8mNOK and EBITDA (1.8)mNOK
• YTD Revenue 313mNOK and YTD EBITDA 1.2mNOK. Lagging behind
the 5 year plan which forecasted YTD EBITDA of 9.5mNOK.
• Impairment on Goodwill and recognition of amended bond as
modified and at fair value gives net positive Equity effect
of 89.6mNOK
• Internal restructuring targeting lower break-even rate in process
• Simplifying strategy back to core services on an asset light template

The Company would like to invite Bondholders to a Teams-call for further details
and status update of the Company on Thursday 8 December at 13:00 CET.
Bondholders wishing to participate on the Teams-call will be provided with
call-in details by forwarding proof of holding verifying the holding of Bonds to
the Bond Trustee by e-mail: trosch@nordictrustee.com.

For further information, please contact:
Øystein Leivestad, CEO/CFO, oystein.leivestad@firstmovergroup.no +4793882303
www.firstmovergroup.no

This information is subject to the disclosure requirements pursuant to section
5-12 of the Norwegian Securities Trading Act.

More information:
Access the news on Oslo Bors NewsWeb site

576973_Q3 2022 Report .pdf