The Group's sales revenues in Q1 2024 amounted to NOK 541.6 million which is NOK
95.1 million (14.9 %) lower than for the same period in 2023. The trend in sales
revenue in Q1 2024 is positive in the Lighting segments, but lower for other
segments compared to the same period in 2023.

The Group achieved an EBITDA*) in Q1 2024 of NOK  61.4  million compared to NOK 
114.6  million in the same period last year.

The adjusted operating profit in Q1 2024 was NOK  39.2  million compared to NOK 
92.6  million in the same period last year. The operating profit contains
non-recurring items, please see reconciliation of adjusted operating profit in
Alternative Performance Measures after the notes to the interim report. The
adjusted operating profit in Q1 2024 is higher for the Lighting segment, but
lower for the other segments compared to the same period in 2023.

From 9 March 2023 the investment in Norske Skog ASA is classified as an
investment in associate and is accounted for using the equity method in
accordance with IAS 28. See note 12 for more information. Share of profit from
associate was NOK -67.4 million in Q1 2024.

The Group achieved an adjusted profit before tax in Q1 2024 of NOK  18.1 
million compared to NOK  71.2  million in the same period in 2023. 

YTD Q1 2024, net financials amounted to an expense of NOK 21.1 million which is
NOK 0.2 million weaker compared to the same period in 2023. The main reasons for
the increase in net financial expenses are increased interest rates and debt,
and that there was a finance income on increased value of interest rate swaps in
2023. Please see note 3 for specification of net financials.

The liquidity reserve*) as at 31 March 2024 amounted to NOK 197.5 million, a
reduction of NOK 70.1 million from 1 January 2024. The Board of Directors will
maintain its focus on capital and cost-efficiency.

Net interest-bearing debt*) increased from NOK 1,375.7 million as of 1 January
2024 to NOK 1,393.1 million as of 31 March 2024. During the first quarter of
2024, there were no significant long-term loans acquired. The increase is mainly
due to a reduction in cash and cash equivalents and increased withdrawals from
overdraft accounts.

Investments in tangible fixed assets and intangible assets YTD Q1 2024 totalled
NOK 6.4 million which is NOK 15.4 million lower than in 2023. 

Total assets decreased from NOK 3,240.6 million as at 1 January 2024 to NOK
3,067.6 million as at 31 March 2024.

Booked equity as of 31 March 2024 was NOK 1,064.4 million (34.7 %), which is a
decrease of NOK 64.7 million compared to 1 January 2024 (34.8 %). The reasons
for the change in equity are due to the profit of the year of NOK -103.8
million, a currency translation difference of NOK 4.0 million, loss on financial
investment booked in other comprehensive income of NOK 11.0 million share of
other comprehensive income from associate of NOK 35.1 million.

*) Definition of EBITDA, adjusted operating profit, liquidity reserve, profit
margin and net interest-bearing debt are added after the notes. The definitions
have been updated since the last interim report.