Hilding Anders successfully deleverages its balance sheet

Malmö, Sweden, 10 August 2022: Hilding Anders announces that it has recapitalized its balance sheet, providing a healthy capital structure that will allow the Group to pursue its value creation plan.

Hilding Anders International AB (together with its subsidiaries, the "Group") is pleased to announce that it has received 100% support and approval from lenders for its proposal to deleverage the balance sheet and strengthen the capital structure for its Europe and Asia business, while exploring strategic options to exit the Askona JV.

The transaction will, among other things, reduce the principal debt of the Group from approximately EUR 570m to EUR 300m, extend maturities, increase annual cash flow by EUR 13m, and reset covenants. This creates a healthy capital structure and sufficient headroom for the Europe & Asia business to pursue its value creation plan in collaboration with all its business partners.

Hilding Anders has powerful brands, a solid product portfolio and strong customer relations. This transaction will support the Group in securing its market leadership position whilst continuing to build even stronger consumer brands and impactful innovation. The Group will continue working closely with participating lenders to implement the transaction efficiently via a contractual process, that will be completed in September, 2022.

For further information please contact:

Anders Wester
Group CFO
anders.wester@hildinganders.com

Disclaimer

This press release has been prepared by the Group solely for informational purposes and does not constitute, and should not be construed as, an offer or invitation to sell or issue securities or otherwise constitute an invitation or inducement to any person to become a member of, apply for, exchange, purchase, underwrite, subscribe to, or otherwise acquire securities in or issued by any Group entity or any other person. Certain statements contained in this press release that are not statements of historical fact, including, without limitation, any statements preceded by, followed by or including the words "targets", "believes", "expects", "aims", "intends", "may", "anticipates", "would", "could" or similar expressions or the negative thereof, constitute forward-looking statements, notwithstanding that such statements are not specifically identified. No representation, warranty or undertaking, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, completeness or correctness of the information or the opinions contained herein. Neither the Group nor any of its advisors or representatives shall have no liability whatsoever (in negligence or otherwise) for any loss howsoever arising from any use of this press release or its contents. The information contained in this press release does not constitute investment advice.