Jordanes – results for the first quarter of 2024: Continued growth and improved profitability

29 May 2024 07:00 CEST

Jordanes ASA (The “Group”) and Jordanes Investments AS (the “Company”), today
reports its results for the first quarter of 2024.

The Company recorded consolidated revenue of NOK 1 595 million for the quarter,
up 3.3% year-over-year. The adjusted consolidated EBITA came in at NOK 108
million, up 25.8% year-over-year. Consolidated operating profit came in at NOK
104 million, up 58.7% year-over-year.

The Group recorded consolidated revenue of NOK 1 663 million for the quarter, up
7.6% year-over-year. The adjusted consolidated EBITA came in at NOK 110 million,
up 32.4% year-over-year. Consolidated Operating profit came in at NOK 104
million, up 104.3% year-over-year.

“Jordanes delivered another quarter of sustained profitable growth. In the first
quarter of 2024 all of our segments delivered both revenue and adjusted EBITA
growth. We continue to improve operations through “One Jordanes” accomplishing
32% growth year-over-year in adjusted EBITA at Group level” says Jan Bodd, CEO &
Co-founder of Jordanes.

“I’m very pleased to see the strong demand for our brands continues into the
first quarter of 2024, in line with our strategy to capture the consumer needs
across all occasions throughout the day” continues Bodd.

Please find attached full report for the first quarter of 2024 for the Group and
the Company, and the presentation of the results for the Group.

For further information, please contact:
Nikolai Steinfjell
Chief Financial Officer
Mob: +47 97 54 47 12
E-mail: nikolai.steinfjell@jordanes.no

About Jordanes
Jordanes is an established Scandinavian brand house focusing on everyday
products and services. The Group owns and operate brands that reach the consumer
across multiple channels and occasions throughout the day. The Group operates
across four business segments: Branded Foods, Casual Dining, Fitness & Beauty,
and International Brands. In 2023, the Group had Revenue of NOK 6,466 million,
approximately 2,700 employees, and 9 factories across Scandinavia.

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

619950_Jordanes Investments - Q1 2024 Report.pdf
619950_Jordanes - Q1 2024 Presentation.pdf
619950_Jordanes - Q1 2024 Report.pdf