Scandinavian Astor Group (ASTOR) Investor Update summary

Capital increase and investor participation

• Raised SEK 150 million in an oversubscribed share issue at an 11–11.4% discount, exceeding the initial SEK 125 million target, with strong participation from major institutional investors, including Global Security Fund, DNB, a top-tier German mutual fund, and company insiders.

• Proceeds will fund strategic acquisitions, production expansion, and general corporate purposes.

Strategic and financial targets

• Set a new 2028 revenue target of SEK 2.5 billion, up from the previous SEK 400 million, and maintains an EBITDA margin goal of at least 15%.

• Growth strategy combines organic expansion (20–30% annual growth) and M&A, with a short-term M&A pipeline of SEK 500 million in revenue and SEK 60–65 million EBITDA.

• Illustrative roadmap shows progression from SEK 300 million in 2024 to SEK 2,500 million in 2028, leveraging both current operations and acquisitions.

• Organic growth in 2024 was 44%, with Q4 growth at 70%.

Growth strategy and M&A

• Plans to use new capital for acquisitions, with additional funding from debt and share-based payments.

• Short-term M&A pipeline could cover two-thirds of the 2028 target if 20% annual growth is achieved.

• Focus on expanding the Astor Protect business area and entering new Nordic markets, targeting both defense and civil companies, especially those with dual-use potential.

• Acquisition targets range from SEK 30–40 million to over SEK 100–200 million in sales.