July-September

• Net sales for the quarter improved to EUR 45.6 (41.2) million. Organically, net sales increased by 8.4%
• During the quarter the contract portfolio value increased by net EUR 29.1 million. Two contracts were won, two contracts were renewed, and two contracts were lost. Portfolio run rate annualized net sales at the end of the quarter was EUR 217.9 million, compared to EUR 188.8 million at the end of the second quarter of 2022
• Operating profit for the quarter improved compared to prior year and amounted to EUR 1.8 (0.1) million
• Adjusted EBITDA amounted to EUR 3.0 million compared to EUR 2.6 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the quarter was EUR 2.9 (2.6) million. Adjusted EBITDA with IFRS 16 implementation was EUR 3.4 (3.2) million
• Cash flow from operating activities amounted to EUR -0.4 (-3.5) million, of which change in working capital amounted to EUR -1.4 (-4.9) million
• Net loss for the continuing business amounted to EUR -2.2 million compared to a loss of EUR -4.2 million prior year
• The Adjusted EBITDA for discontinued operations was EUR 0.1
  (-0.1) million and the net profit was EUR 0.1 (-0.1) million, which is not included in the reported numbers above
• Group net loss for the quarter, including discontinued operations, was EUR -2.1 (-4.4) million

January-September

• Net sales for the period amounted to EUR 130.0 (122.6) million. Organically, net sales increased by 4.7%
• Operating profit amounted to EUR 3.0 million, compared to EUR
  -1.1 million prior year
• Adjusted EBITDA amounted to EUR 6.2 million compared to EUR 6.5 million prior year, excluding the effect of implementation of IFRS 16 Leases. In constant currencies, Adjusted EBITDA for the period was EUR 6.2 (6.5) million. Adjusted EBITDA with IFRS 16 implementation was EUR 7.8 (8.5) million
• Cash flow from operating activities amounted to EUR 1.9 (-4.1) million, of which change in working capital amounted to EUR 1.6 (-6.2) million
• Net loss for the continuing business amounted to EUR -7.3 million compared to a loss of EUR -9.9 million prior year
• The Adjusted EBITDA for Discontinued operations was EUR -0.1
  (-1.0) million and the net loss was EUR -0.1 (-7.5) million, which is not included in the reported numbers above
• Group net loss for the period, including discontinued operations, was EUR -7.4 (-17.4) million

Significant Events during the quarter
On 29 July 2022 it was announced that Quant Chile signed a ten-year total maintenance partnership contract with Arauco, a global manufacturer of forest products. The contract encompasses two mills, Licancel and Constitucion, and the contact scope includes maintenance execution, subcontracted services and shutdowns. The contract portfolio value increased by EUR 30 million, which is an estimate of the average yearly revenue for the first years of the contract.

Telephone conference
A telephone conference where management comment on the report is held at 10:00 CET on November 25, 2022. Details for participation by telephone are found ahead of the call on www.quantservice.com/investor