Västra Hamnen Corp. Finance (VH) investor relations material

Executive summary

• Operating income increased by 28% year-over-year to 2.1 MSEK, mainly due to a revaluation of shares in Båstadtennis & Hotell AB, but the company still reported a negative operating result of -1.7 MSEK.

• Net result after tax improved to -1.3 MSEK from -2.6 MSEK year-over-year, with EPS at -1.27 SEK (vs. -2.59 SEK last year).

• Cost reductions were implemented, including staff layoffs, with full effect expected by mid-year.

• The company is considering divesting its remaining shares in Båstadtennis & Hotell AB, which contributed a one-time positive effect to results.

Financial highlights

• Operating income: 2,150 KSEK (1,678 KSEK last year), up 28%.

• Operating result: -1,735 KSEK (-2,592 KSEK last year).

• Net result after tax: -1,271 KSEK (-2,592 KSEK last year).

• Cash flow for the quarter was positive at 0.3 MSEK, mainly due to a tax refund.

• Equity at period end: 6.3 MSEK (10.0 MSEK last year); cash and equivalents: 4.5 MSEK (8.9 MSEK last year).

Outlook and guidance

• Management expects cost savings to be fully realized by mid-year and aims to return to profitability with ongoing assignments.

• The company is monitoring all expenses and may further adjust staffing if revenue does not recover.