High Coast Distillery (HIGHCO) investor relations material

Executive summary

• Q3 net sales were SEK 13.7m, EBITDA SEK 4.0m and net profit SEK 0.9m; sales and earnings were below prior year, while cash flow improved.

• 9M net sales increased to SEK 41.8m and EBITDA to SEK 11.6m; cash flow turned positive at SEK 2.3m, supported by slower inventory build-up.

Financial highlights

• Q3 net sales excluding alcohol tax were SEK 13.729m vs SEK 15.199m YoY; operating income was SEK 1.991m vs SEK 2.803m.

• Q3 EBITDA was SEK 3.988m vs SEK 4.841m; profit after financial items was SEK 1.164m vs SEK 2.145m, and net profit was SEK 0.924m vs SEK 1.703m.

• Q3 diluted and basic EPS were SEK 0.16 vs SEK 0.30; 9M EPS was SEK 0.30 vs SEK 0.33.

• 9M net sales were SEK 41.763m vs SEK 41.075m; EBITDA was SEK 11.550m vs SEK 10.930m and operating income SEK 5.483m vs SEK 4.907m.

Outlook and guidance

• Swedish market signals improved slightly and international activity increased, but a broad recovery remained uncertain; strategy remains focused on sales and marketing.

• Two special bottlings were planned for Systembolaget in autumn: Riverboats Ådalen III with the report and Symbios Bourbon & Calvados in November.