Establishment in Norrland · Quarterly net sales increased by 13 percent and EBITDA before items affecting comparability increased by 15 percent, with a strong contribution from the acquisitions of Holmgrens and Öhmans. · Norrland establishment accomplished through the acquisition of Bröderna Öhman AB. · Major price increases for fuel and raw materials put pressure on margins. · Strong cash flow from operating activities. · Successful expansion of existing corporate bond by SEK 250 m, providing the conditions for continued acquisitions in accordance with the Group’s acquisition strategy.

Magnus Persson, CEO of Bellman Group, comments:

"Overall, we delivered a stable result in the third quarter despite global economic uncertainty and increased market challenges. Tangible effects of higher interest rates and inflation reinforce the development of major price increases for fuel and raw materials, as well as delivery delays of material and production equipment. We continue to manage the cost increases well even if we do not get full coverage. At the same time, we see continued investments in large infrastructure projects in the Swedish growth regions, not least in Norrland, which is positive for our business.

Bellman Group has a broad comprehensive offering that includes infrastructure, housing, and industry- and commercial facilities with an emphasis on infrastructure. Even if our business is affected by a challenging market, I feel confident that the Group is built on a solid foundation. Our proven business model, with a variable remuneration and the fact that we always operate as a subcontractor, also contributes to operational flexibilbity."

This disclosure contains information that Bellman Group is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person, on 16-11-2022 10:45 CET.