25/2024・Trifork Group AG – Interim report for the quarter ending 31 March 2024

Trifork Group – Interim report for the quarter ending 31 March 2024 Company announcement no. 25 / 2024 Schindellegi, Switzerland – 7 May 2024

Trifork Group reports Q1 revenue growth of 1.4% impacted by fewer working days

First quarter 2024

• Trifork Group
  • In Q1 2024, Trifork Group revenue amounted to EURm 50.4, an increase of 1.4% from Q1 2023. The quarter was impacted by fewer business days in the quarter due to the Easter break being in March instead of April as in the past years. The effect of this is estimated to EURm 2.8 (5.6%) in Q1 2024 compared to Q1 2023.
  • Trifork Group EBITDA amounted to EURm 5.3, corresponding to 10.5% EBITDA margin. The timing of Easter and one-off cost from reorganizations are estimated to affect EBITDA negatively by EURm 2.5 in the quarter.
  • Trifork Group EBIT amounted to EURm 1.4, corresponding to 2.8% EBIT margin.
  • Trifork Group net income amounted to EURm 2.2. Positive fair value adjustments in Trifork Labs contributed to net income.
    
    
• Trifork Segment
  • In Q1 2024, adjusted EBITDA in the Trifork Segment amounted to EURm 5.8 (Q1 2023: EURm 8.6). The adjusted EBITDA margin was 11.6% (Q1 2023: 17.2%).
  • Sub-segments
    • Inspire revenue increased by 2.4% to EURm 0.6 and realized an adjusted EBITDA of EURm -1.0 (Q1 2023: EURm -0.7).
    • Build revenue increased by 1.7% to EURm 38.8 and realized an adjusted EBITDA margin of 15.7% (Q1 2023: 21.1%).
    • Run revenue increased by 0.2% to EURm 11.0 and realized an adjusted EBITDA margin of 13.1% (Q1 2023: 21.1%).
      
      
• Trifork Labs
  • In Q1 2024, positive fair value adjustment of Trifork Labs investments was EURm 2.0 driven primarily by one company delivering stronger-than-budgeted performance on both revenue and profits. One smaller investment corrected for low performance. EBT from Trifork Labs was EURm 1.3 in the quarter.