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Teqnion's year-end report 2022

Q4: 2022-10-01 – 2022-12-31
Machine Translated by Google
Year-end report 2022-10-01 – 2022-12-31

Year-end report 2022

TEQ Quick Communiqué 2022 We

Events during the fourth quarter
have to live with really troublesome conditions in the economy, so we focus on what we can influence. Our companies are
accelerating with high activity in the sales teams, raising prices, collecting receivables and freeing up capital from partially • Lundahl Transformers AB is acquired in October
bloated pandemic inventories. Cash flow jumps up to levels we like. Our niche operations in different industries are a nice Events after the end of the quarter • Nothing
stability insurance in turbulent times. The quarter's turnover is up 30% compared to 2021, of which 18% is organic, EBITA significant
is about 10% better and earnings per share about 12% up. The year 2022 breaks 2021 with 44% in turnover, 38% in EBITA
and 39% in VPA. Before the new year, we finally got Carina Strid as the new CFO and we acquired Lundahl Transformers
in Norrtälje. Now we continue to knead... The board proposes that no dividend be paid for the
financial year 2022 with the assessment that Teqnion can create
- Johan Steene, CEO and founder an excess return with the treasury.

2022 2021 2022 2021

The group in summary, MSEK Oct-Dec Oct-Dec ÿ% Jan-Dec Jan-Dec ÿ% 920.2 About Teqnion
Net sales 388.1 299.2 30% 1,324.8 105.6 11.5 44% Teqnion AB is an industrial group that acquires stable niche
EBITA 46.1 41.8 10% 146.1 38%
103.0 79.8 4.95 companies with good cash flows to develop and own with an eternal
EBITA margin, % 11.9 14.0 --- 11.0 4.90 119.6 --- horizon. The subsidiaries are managed decentralized with support
Profit before tax 40.4 41.3 neg 138.2 26.5 42.4 34% from the parent company. We operate in the majority of industries
The result of the period 32.8 29.2 12% 110.4 39% with leading products, which gives us good resilience in the event of
12% 39% economic fluctuations as well as solid industrial know-how. For us,
Earnings per share before dilution, SEK 2.04 1.81 6.84
13% 39% it is central to focus on profitability and long-term sustainable
Earnings per share after dilution, SEK 2.03 1.79 6.79
16%
business relationships.
Cash flow from current operations 81.9 70.8 104.9 neg
--- --- --- 27.5 ---
Return on equity, %
Equity ratio, % --- --- --- ---
41.5 The company's shares TEQ are traded on the Nasdaq First
North Growth Market.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 2

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COMMENT FROM THE CEO
Year-end report 2022-10-01 – 2022-12-31

Johan's thoughts
Hey techies!
First, that we should not lower the guard; it is downright appalling Most of what we do goes well. We continue to operate in widely During the quarter, we bought a super-specialized family
that Russia continues its senseless aggression against Ukraine. different industries in different geographic markets and try to be company in Norrtälje that designs and manufactures transformers,
Our twenties are unlikely to receive the epithet "the happy" like Lundahl Transformers AB. They deliver the very finest products
the best at supporting our customers with competitive solutions
its century-old relative. Back then, there was bubbling faith in the and systems. Always cherish long and mutually sustainable to the most demanding audio applications in the world.
future when Lindbergh's adventurous spirit crossed the Atlantic, It will be very exciting to get to know the Lundahl gang more
relationships with our partners where we can learn from each
women got the right to vote, and then, in provocatively short closely and together with them take the company into the future.
other and grow our joint market position and profitability. It works.
hairstyles and dresses, danced the foxtrot with jazz boys who
Just that tougher times call for tougher
painted ink on their eyelids. Looks like it was fun! Now one Star-Spangled Future Trials…
toil. During the quarter, we encouraged each other to get better
hundred years later, anonymous Chinese hot air balloons are A fairly big leap forward for us has been that during the winter
provocatively crossing continents and the music we are forced at collecting the money. Everyone has noted that money again we made a small inroad into the American market by starting up
to endure is pumping epadunk from well-known artists dressed costs money! Stocks are trimmed and accounts receivable are a subsidiary there. We still have no employees, but the company
in bandits' hoods and adidas overalls... What will our twenties be collected. The cash flow has improved after our awakening on will initially be used by the daughters who want to sneak in a
called? No idea, with the new dictionary as support, it will the subject in the last report. This is still an area that we talk little more sales efforts and marketing on the American continent.
about a lot. Maybe even nagging. Cash flows and pricing are
probably be something incomprehensible in the style of the Permachristian. We have also had time to practice final assembly of a few
The economic reality is clearly troublesome for most people. once again our most delightful and energetic topics of products in the US in order to quickly deliver to customers. Good
Inflation, rising interest rates, weakened krone exchange rate, conversation. I don't like it! response! It's a really fun project, but we do it carefully and all
rearmament, climate challenges and energy shortages. Given the time with reasonable risk-taking.
these conditions, I am surprised at the continued congestion at Buying companies when money is
airports, shopping centers and restaurants. Maybe I'm witnessing not free It cannot be completely useless for a market economy Business in focus, people in the center!
the last jolt before the brakes screech in the real economy? that money actually costs money. It should reasonably mean
Love wooden houses

Regardless, Teqnions 2022 is by far our best year yet. We sell In Teqnion, the economic slowdown is only marked in the
that the worst ideas with the most daring risks are never
more, earn more and develop more than we ever did before. companies operating in the construction industry. There, we
launched. Teqnion continues to seek what is proven, businesses
This despite the difficult conditions in the outside world. have been forced to reduce the workforce within the part that
with low business risk and safe cash flows.
Daniel is our unrivaled bloodhound who always sniffs out the caters to private customers with turnkey villas. We are preparing
kind of company we like. He has a nose full of prospects. here for more cautious times. Where we supply building
Hunt and
Together we meet over a hundred company owners per year components and trusses to other companies, we have managed
gather I read that the economy is slowing down. Forecasters say
and are continuously strengthened in the belief that there is to fill our facilities with jobs through diligent sales work. But the
it might be a soft landing, a mild recession. In the Teqnion group,
always more to learn, more to explore, more fine companies to construction industry is hopeful and we are constantly on our
we notice that it is extra difficult to sell something in the house
acquire. We are looking for companies that are likely to be cash toes to be able to parry new conditions. However, demand for
building industry and that it is extra easy in our businesses that
flow machines even in a decade... and two... wooden houses will come back eventually, we love nice wooden
work with electrification products.
houses here in the Nordics! It will be fine, I'll jump up and get on it.
Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 3
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COMMENT FROM THE CEO
Year-end report 2022-10-01 – 2022-12-31

ÿÿÿÿÿ ÿÿÿÿÿÿÿ I
have a running friend who, for almost a year now, has as his job to defend
his fatherland against invading Russians. A guy who I have run alongside
and laughed with, when we represented our respective, admittedly different
but nevertheless free, democracies in blue and yellow national team
uniforms at several championships.
Now he sits as a Ukrainian sniper in a pit and scouts for the attacking Instagram
enemy to make a counter-defense. Different fates of life fall.

I want to urge all brave Ukrainians with Runeberg's words...

"Don't let a devil cross the bridge, hold on a little longer!"

Brick by brick Teqnion

is an acquisitive company by diligently allocating the cash flows generated
in our subsidiaries to acquiring additional cash generating subsidiaries.
We have now practiced the process we use for quite some time, made
mistakes and then adjusted our approaches. Constant learning is fun. And LinkedIn
difficult. We are slowly scaling up what we do and constantly trying to
iterate towards something better. It feels as if we have moved on from GÅ,
but we are only at the beginning and incredibly far from complete. You are Russia out of Ukraine!
very welcome to join us going forward!

Run father, be nice!

Johan Steene
CEO and founder

Teqnion's companies Join

us on the journey!
Emergency

situation after an earthquake 4

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se
Stand firm and stick to winning concepts. Be brave. Keep it simple.
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SUBSIDIARY OF TEQNION
Year-end report 2022-10-01 – 2022-12-31

We are Teqnion

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 5

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ECONOMICAL OVERVIEW
Year-end report 2022-10-01 – 2022-12-31

Financial development for the group (1/2)

Net sales per quarter, MSEK Net turnover for the whole year, MSEK

1,325
388
344
306 299 920
287
240
219 659
182 193 580
155 162 165 161 151
109 123
296
176 179 197
56 56 72 83 115
19 20 21 22 19 20 21 22 19 20 21 22 19 20 21 22

Q1 Quarter 2 Quarter 3 Quarter 4

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

Order backlog*, MSEK Comment

487 503 Net sales During

451 435 the fourth quarter, net sales increased by 30% compared to the previous year. The increase from
388
340 349 acquired companies contributed 12% and organic growth amounted to 18%. Part of the turnover
298 291 increase comes from increased prices.
274
206 214 221 224
191 204
Order
backlog The order backlog is coming down from high levels where the reduction comes to a significant
part from house projects that have been delivered.
19 20 21 22 19 20 21 22 19 20 21 22 19 20 21 22

Q1 Quarter 2 Quarter 3 Quarter 4 Seasonal variations

The Teqnion Group's sales have no significant seasonal variation.
* The order backlog can give a rough indication of future sales but is not perfect. The length of the order backlog varies greatly for our companies - some up to a couple of years and others with immediate sales. Future company mix may also affect this.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 6

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ECONOMICAL OVERVIEW
Year-end report 2022-10-01 – 2022-12-31

Financial development for the group (2/2)

Profit before tax per quarter, MSEK Profit before tax for the full year, MSEK

138
41.3 40.4
36.6
34.6 103
27.3
25.3 26.7
21.0
16.8 57
16.4 14.6
36 36
8.8 9.2 7.6 22
3.8 3.8 10 13 17
3 4 8
2
19 20 21 22 19 20 21 22 19 20 21 22 19 20 21 22

Q1 Quarter 2 Quarter 3 Quarter 4 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022

The parent company's cost as a share of total turnover, %* Comment

5.4% Results
Clear profit reductions in house building-related activities during the quarter. Many subsidiaries make
somewhat better results than the previous year, but individual operations have had difficulty reaching the high
3.5%
comparative figures that come with the fourth quarter of 2021.
2.3% 2.1% 2.1%
1.9% 1.7% The parent company's cost in relation to the group's turnover has continued to decrease.
1.4% 1.5% 1.5% 1.3% 1.6% 1.6% 1.5%
1.3%
1.0% We now have seven people in the TEQ staff when Carina Strid has started.

19 20 21 22 19 20 21 22 19 20 21 22 19 20 21 22 Profit before tax for the fourth quarter was slightly lower than the corresponding period last year, mainly due
to higher interest costs and currency effects.
Q1 Quarter 2 Quarter 3 Quarter 4

*
2019 Q1 AND Q2 were burdened by listing costs

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 7

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ECONOMICAL OVERVIEW
Year-end report 2022-10-01 – 2022-12-31

Liquidity and indebtedness

Liquidity and indebtedness Profit distribution, Dividend policy and Annual General Meeting

2022 2021
Distribution of profit
MSEK Dec. 31 Dec. 31
The board proposes that available profits per 31/12/2022 be transferred to a new account.
Borrowing from credit institutions 164.1 124.8
Lease liabilities 97.3 51.9 Dividend policy
Total interest-bearing liabilities 261.4 176.7 Teqnion shall continue its growth journey by primarily allocating available capital to company
acquisitions. If the board judges that there is excess liquidity in the company, up to ten percent of the
Liquid funds -47.3 -85.8 estimated profit can be distributed.
Net debt 214.2 90.9
Net debt excluding lease liabilities 116.9 39.1 Annual report and general meeting
The annual report for the financial year 2022 will be published on 21 March 2023 on the company's
website and through a press release. The annual general meeting will be held on April 20, 2023.

Comment

Liquidity and indebtedness

Teqnion has increased credit commitments during the fourth quarter by SEK 30 million in the form of
extended overdraft facilities. Increase in borrowing from credit institutions is primarily attributable to
loans taken out in connection with the acquisition of new subsidiaries and the use of overdrafts.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 8

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FINANCIAL GOALS
Financial philosophy and financial goals
Teqnion is always on the go. We start from people and relationship building to
target profitable business in defined industry niches. The mission is to invest our
money today so we have even more money tomorrow. It is a simple goal that is
easy to measure. We stick to what we understand and what is comprehensible.
We buy fine specialized companies that are run by down-to-earth employees.
During the trip, we try to have fun and develop our skills
methods and strengthen our teams. If we go astray, we tackle the problem, fix it,
learn something and move on, forward.
Our sustainability plan is for Teqnion to always continue to grow. Sustainable for
us means, in addition to being careful about the environment and the earth's finite
resources, that we must drive profit growth. With good profits, we can confidently
make the right decisions and continuously strengthen our relationships with
colleagues, customers, suppliers and shareholders.
Teqnion must always create value, followed by being the best at securing and
increasing that value. No matter from which direction and with what intensity the
macroeconomic winds blow, we move forward.
Teqnion wants to go far and we are only at the beginning of our journey. It is
important that we are afraid of our culture and that we are faithful to our simple
working methods where fine cash flows are the best we know. Management is
ridiculously loyal to the company. We are a group with experience, forehead bone
and winning instinct. A group that wants to be their best.
SURVIVAL ABOVE ALL. ALWAYS.
We are always a little underprepared for the fact that anything can go wrong at
any time. This means that we never take risks with the company's
*
Incidentally, our subsidiary Belle Coachworks is probably the best in Europe for customized enclosed car transporters.
Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se
Year-end report 2022-10-01 – 2022-12-31
assets that the group cannot afford to lose. So even if a high-risk project beckons CREATE SHAREHOLDER VALUE.
to take us to the stars at the speed of light, we'd rather use a car transporter and In the situation where we have stability and make money, which is the state we
take it at a reasonable pace with balanced risk.* work to always find ourselves in - then we chase to grow earnings per share,
which is the measure that most clearly drives the share price over time.
We ensure that we can always be in the game, regardless of happy or dark times.
In concrete terms, this means that we will never put ourselves in a debt situation In practice, this means that we acquire additional profitable industrial product
that limits our oh-so-important room for action. companies with good people, low risk in the business and good cash flows.
Teknion is growing. The profit is growing. The responsibility and self-realization of
our colleagues is growing. The group becomes more robust, more durable. We
SECURE EARNINGS AND CREATE VALUE.
think long-term and take advantage of the interest-on-interest effect by allocating
In order for Teqnion and the respective subsidiaries to have a clear justification
our capital to new fine acquisitions. We are going to completely new heights. We
for existence, we must create value for our customers and for our customers'
don't work with forecasts or growth targets on an annual basis because we don't
customers. By loving sales work and always keeping the customer benefit in front
want to be pressured into having to squeeze in worse short-term deals. We prefer
of our eyes, we succeed in this. Real customer benefit is revenue with a good
a longer benchmark of 5 years, when we should have doubled earnings per share.
margin. The income is distributed and creates more value for the many, our
The ambition is higher than that and our horizon extends much further. We have
companies, employees, suppliers, shareholders, society, etc. A business symbiosis
left the harbor but are just at the beginning of a very long journey.
according to this motto becomes sustainable in the long term. A rough and simple
way to measure our value creation and thus the degree of justification for existence
is our operating margin. We rub it on! We never want to grow for the sake of We have written this page to try to clarify what we prioritize in the Teqnion building
growing - we are happy to chase an increase in turnover, but only if it means that and hope that you who are like-minded want to join the journey.
profitability at least follows suit. We like to reverse the rapid growth mantra of
recent years and run: "if they come – we build".
/TEQ-Staff
The focus on profitability also motivates us to really question every kroner spent.
As you know, a krone saved is a krone earned... Kind, quick and stingy, that's how
we can be!
9
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FINANCIAL GOALS
Year-end report 2022-10-01 – 2022-12-31

Follow-up of financial goals

1. STABILITY 2. PROFITABILITY 3. SHAREHOLDER VALUE

In order to never risk what we have built up and ensure We always work single-mindedly with our margins and our
sustainable growth, a financial one is required profitability. The focus is on projects and acquisitions with
stability as a basis. This goal must always be met. higher profitability margins than where we are today. Before
we rush ahead, we make sure that the existing business is
whole and profitable.
When objectives 1. and 2. are met, it is full speed and focus
on creating shareholder value by increasing earnings per
share (VPA). This mainly happens through the acquisition
of fine companies. This provides the clearest link to value
per share over time for the long-term shareholder.

Financial target 1: Net debt/EBITDA < 2.5 Financial target 2: EBITA margin > 9% Financial goal 3: > Double VPA every five years*

<2.5
6.84

12.8%
12.2%
11.5% 11.0% 4.95
> 9%
9.3%
1.2
2.73
0.7 2.05 2.12
0.4
VPA doubled
0.2

- 0.1
2018 2019 2020 2021 2022 2018 2019 2020 2021 2022 2018 2019 2020 2021 2022

We have updated the format of this graph. Hopefully it is now clearer.

* Red line shows at which level earnings per share have doubled compared to earnings per share five years ago. Earnings per share for the years before 2019 are recalculated
Aim and content are the same, of course!
taking into account the completed split in 2019 (2:1).

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 10

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TEQNION'S SHARE
Year-end report 2022-10-01 – 2022-12-31

Share price and earnings per share since listing

Share price (closing price) and earnings per share before dilution (VPA) in sec

200 8

180
7

160
6
140

5
120

Share
price,
sec R12,
VPA
sec

100 4

80
3

60
2
40

1
20

0 0

July 19 Oct. 19 Jan 20 April 20 July 20 Oct. 20 Jan 21 April 21 July 21 Oct. 21 Jan 22 April 22 July 22 Oct. 22

Share price VPA R12

Our belief is that our share price in the longer term will follow earnings per share. That is why we put our best efforts to increase earnings per share in the long term.
The graph above shows the historical connection.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 11

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THE ACQUISITION OF TEQNION
Year-end report 2022-10-01 – 2022-12-31

Our 10 most recent acquisitions

During the quarter, Lundahl Transformers AB was acquired. We continuously meet new exciting companies (100-150
per year) but only a few pass all our screening criteria. Our acquisition pace is expected to continue to be uneven during
the year and between years – we will never acquire for the sake of acquiring.
In order for business to happen, it is required that the company's exhibit high quality & have a good culture in place. At
the same time, we need to agree with the seller on a reasonable valuation.

Acquisition Access Net sales at the time

of acquisition, MSEK
Lundahl Transformers AB 2022 October 25
Reward Catering Limited 2022 September 35
Belle Coachworks Holdings Limited 2022 August 2022 40
Teltek in Örebro Aktiebolag January 2021 40
Vicky Teknik AB November 48
UGAB Aktiebolag 2021 October 50
Wallmek in Kungälv AB 2021 September 47
Kema Large kitchen sale Limited company 2021 April 33
Cutting Metal Works in Valdemarsvik Aktiebolag 2021 March 57
WiMa Propulsion AB 2020 August 50

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 12

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BOARD OF DIRECTORS OF TEQNION
Year-end report 2022-10-01 – 2022-12-31

Here is Teqnion's board, the one that points out the direction...

Per Berggren Johan Steene

Chairman of the board since 2022 and 2009-2020 Board member since 2012
Born in 1968 Born in 1973
Bachelor of Economics from SU MSc in mechanical engineering from KTH
Background: Co-founder of Vixar AB Background: Founder and CEO since 2009
Holdings: 5,201,036 shares through Vixar AB, which is 50% Holdings: 941,776 shares + 19,500 options
owned by Per

Claes Mellgren Mikael Vaezi

Board member since 2022 Board member since 2020
Born in 1959 Born in 1980
Civil engineering from LiTH Bachelor of Economics from LU

Background: Founder of AQ Group and group Background: Investment manager at Spiltan and previously
CEO during 2010-2018 at Dunross & Co and Sdiptech
Holdings: 0 Holdings: 25,502 shares (excluding Spiltan who owns
1,794,650 shares)

Erik Surén Auditor

Board member since 2006 Born Carl-Johan Kjellman, BDO Mälardalen AB is the auditor in charge.
1971 High school diploma Carl-Johan does not own any shares or options in Teqnion.
Background: Co-founder of Teqnion
and CEO of the subsidiary joined during 2005-2021.

Holdings: 741,232 shares

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 13

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TEQ STAFF
Year-end report 2022-10-01 – 2022-12-31

…and here is TEQ staff!

Johan Steene Daniel Zhang
President, CEO, founder and board member CXO (acquisition general)
Teqniån from the start in 2006 Teqniån since 2021
Born in 1973 Born in 1989

MSc in mechanical engineering at KTH Bachelor's degree in business administration at HHS

Out of Teqnion: Running Far (-22 King of The Road, TN, USA) Previously at McKinsey, Bain and Textilia
Holdings: 941,776 shares + 19,500 options Holdings: 35,000 shares

Maria Johansson Håkan Wahlberg

CMO (Subsidiary chairman and CEO coach)
CAO (Head of Accounting)
Teqniån since 2021 (worked in the group since 2018)
Teqniån since 2008
Born 1966 4-
Born in 1976
year technical high school
4-year technical high school
Former CEO and co-owner of GBK (now part of Teqnion)
Previous financial assignments at various companies
Holdings : 0
Holdings: 27,679 shares + 14,000 options

Anna-Karin Karlsson
Mona Axman
CSO (Subsidiary chairman and CEO coach)
COO (Chairman of subsidiaries and CEO coach)
Teqniån since 2018
Teqniån since 2018
Born in 1973
Born in 1973
Bachelor's degree in mechanical engineering at KTH
MSc in chemical engineering at LTH
Previous experience of senior assignments within Alfa Laval
Previous experience of senior assignments within Alfa Laval
Holdings: 5,200 shares + 12,000 options
Holdings: 70,799 shares + 3,000 options

Carina Strid
CFO and IR
Teqniån since 2022
We have a full team! Carina is on site and together with Maria, they are building Born in 1968
an outstanding finance and accounting team. Bachelor of Economics Stockholm University

Previous experience of senior assignments within Ratos

Holdings: 0 shares + 0 options

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 14

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KEY NUMBERS
Year-end report 2022-10-01 – 2022-12-31

The group's key figures (1/2)

2022 2021 2022 2021

Oct-Dec Oct-Dec Jan-Dec Jan-Dec

Result, MSEK

Net sales 388.1 299.2 1,324.8 920.2

EBITDA 54.9 51.0 185.4 140.5

EBITA 46.1 41.8 146.1 105.6

Profit before tax 40.4 41.3 138.2 103.0

The result of the period 32.8 29.2 110.4 79.8

Margins and return, %

EBITDA margin 14.1 17.1 14.0 15.3

EBITA margin 11.9 14.0 11.0 11.5

Net profit margin 8.5 9.8 8.3 8.7

- -
Return on capital employed 23.4 23.6
- -
Return on equity 27.5 26.5

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 15

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Year-end report 2022-10-01 – 2022-12-31

The group's key figures (2/2)

2022 2021 2022 2021
Oct-Dec Oct-Dec Jan-Dec Jan-Dec
Financial position, MSEK
- -
Balance Sheet 1,070.8 799.1
- -
Equity 444.5 338.6
Liquid funds - -
47.3 85.8
Net debt - -
214.2 90.9
- -
Net debt/EBITDA, times Net 1.2 0.6
- -
debt excl. leasing debt Net debt 116.9 39.1
- -
excl. leasing debt/EBITDA, times Capital employed 0.6 0.3
- -
at the end of the period Equity ratio, % Per share, 705.9 515.4
- -
SEK Equity per share Earnings per share before 41.5 42.4
dilution Earnings per share after dilution Number
- - 27.56 20.99
of shares
2.04 1.81 6.84 4.95
2.03 1.79 6.79 4.90

Average number of shares before dilution 16 129 710 16 129 710 16 129 710 16 129 710

Average number of shares after dilution 16,251,068 16,307,210 16,251,586 16,295,868

- - 16,129,710 16,129,710
Number of outstanding shares at the end of the period
Employees

Average number of employees 447 365 421 314

- - 452 369
Number of employees at the end of the period

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 16

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The group's income statement

2022 2021 2022 2021

Amount in MSEK Oct-Dec Oct-Dec Jan-Dec Jan-Dec

Net sales Other 388.1 299.2 1,324.8 920.2
operating income 8.2 5.8 22.3 18.9
Amount 396.3 304.9 1,347.1 939.1
Operating expenses

Change of products in work -3.8 -1.8 -3.6 -2.2

Raw materials and consumables -31.1 -35.5 -124.1 -108.7
Trade goods -178.2 -128.0 -631.7 -409.7
Other external costs -39.5 -18.2 -104.0 -53.9
Personnel costs -86.1 -67.3 -287.4 -218.7
Depreciation and write-downs of tangible and
intangible fixed assets Other operating expenses -9.1 -9.5 -40.5 -35.8
-2.7 -3.1 -10.9 -5.4
Total operating expenses -350.5 263.4 -1,202.2 -834.4

Operating results 45.8 41.5 144.9 104.7

Financial income 0.3 1.5 4.0 2.9
Financial costs -5.7 -1.7 -10.7 -4.6
Results from financial items -5.4 -0.2 -6.7 -1.7

Profit before tax 40.4 41.3 138.2 103.0

Income tax -7.6 -12.1 -27.8 -23.2
The result of the period 32.8 29.2 110.4 79.8
Result for the period attributable to:
The parent company's shareholders 32.9 29.2 110.3 79.5
Holdings without controlling influence -0.1 0.0 0.1 0.3
Earnings per share before dilution, sec 2.04 1.81 6.84 4.95
Earnings per share after dilution, sec 2.03 1.79 6.79 4.90

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 17

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The group's report on comprehensive income

2022 2021 2022 2021

Amount in MSEK Oct-Dec Oct-Dec Jan-Dec Jan-Dec

The result of the period 32.8 29.2 110.4 79.8
Other comprehensive income

The period's translation differences 2.8 0.0 3.8 0.1

Total total profit for the period 35.6 29.2 114.2 79.9
Total comprehensive income attributable to:
The parent company's shareholders 35.7 29.2 114.1 79.6
Holdings without controlling influence -0.1 0.0 0.1 0.3

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 18

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The group's balance sheet

2022 2021 2022 2021
Amount in MSEK Dec. 31 Dec. 31 Amount in MSEK Dec. 31 Dec. 31
ASSETS EQUITY
Fixed assets Share capital 0.8 0.8
Goodwill 472.5 312.4 Other contributed capital 108.4 109.9
Intangible assets 4.5 3.2 Translation reserve 3.0 -0.8
99.9 55.5 Balanced profit including profit for the year 330.8 226.9
Right-of-use assets
Land and buildings 9.3 9.4 Equity attributable to the parent company's shareholders 443.0 336.8
Equipment, tools and installations 23.7 21.2 Holdings without controlling influence 1.5 1.8
Other long-term receivables 0.5 0.4 Total equity 444.5 338.6
Total fixed assets 610.4 402.1 LIABILITIES

Current assets Long-term liabilities

Inventory 237.9 165.6 Borrowing from credit institutions 124.5 105.5
Accounts receivable 143.3 127.9 Lease liabilities 64.3 29.2
Current tax claims Other 4.8 2.0 Deferred tax liabilities Other 26.5 20.0
claims 16.3 9.3 long-term financial liabilities Other 53.1 12.0
Prepayments and accrued income 10.8 6.3 provisions 4.3 2.7
Liquid funds 47.3 85.8 Total long-term liabilities 272.7 169.4
Total current assets 460.4 397.0 Current liabilities
Borrowing from credit institutions 39.7 19.4
TOTAL ASSETS 1,070.8 799.1
Lease liabilities 33.0 22.7
Other short-term financial liabilities 50.8 52.8
Accounts payable 102.5 80.5
Current tax liabilities 14.8 10.5
Other short-term liabilities 44.0 52.2
Invoiced but not processed revenue 6.8 6.1
Accrued costs and prepaid income 62.1 47.0
Total short-term liabilities 353.5 291.1
TOTAL EQUITY AND LIABILITIES 1,070.8 799.1

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The group's report on changes in equity

2022 2021
Owner of the parent Possession without Owner of the parent Possession without

company determining company determining

influence influence
Amount in MSEK

Opening equity 1 January 336.8 1.8 256.9 2.2

Total profit for the period 114.1 0.1 79.6 0.3

Option premiums, net 0.1 0.4

Dividend1) -8.1

Non-controlling interest, dividend -0.4

Acquisition of shares in subsidiaries from non-controlling

interests -0.7

Closing equity 31 December 1.5 443.0 336.8 1.8

1) Dividend for 2021 amounted to SEK 0.50 per share (2020: SEK 0 per share)
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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The group's report on cash flows

2022 2021 2022 2021
Amount in MSEK Oct–Dec Oct–Dec Jan-Dec Jan-Dec
Operating results 44.6 43.9 144.9 104.5
Adjustment for items not included in the cash flow 7.5 7.4 38.3 27.4
Interest paid and received -7.1 -0.2 -8.2 -1.7
Paid tax 1.8 -6.2 -22.5 -17.8
Change in working capital 35.0 25.9 -47.6 7.2
Cash flow from current operations 81.9 70.8 104.9 119.6
Investment in intangible fixed assets -0.2 -0.3 -0.5 -0.5
Investment in tangible fixed assets -1.6 -1.6 -7.0 -5.6
- -
Disposal of tangible fixed assets 1.0 1.0
- -
Investment in financial fixed assets -0.1 -0.1
Acquisition of subsidiaries *) -9.4 -71.0 -133.3 -158.9
Cash flow from investment activities -10.3 -73.0 -139.9 -165.0
Option premium, net -0.0 0.1 -0.4
Borrowings 21.7 18.0 95.7 140.2
Amortization of loans - 44.0 -4.8 -60.9 -98.3
Amortization of leasing debt -5.6 -7.3 -30.7 -30.4
Acquisition of shares in subsidiaries from non-controlling interests
- - -
0.3
- -
Dividend to non-controlling interests -0.4 -0.4
- - -
Dividend to the parent company's owners -8.1
Cash flow from financing activities -28.4 5.9 -4.3 10.9
CASH FLOW FOR THE PERIOD 43.2 3.8 -39.3 -34.6

Cash and cash equivalents at the beginning of the period 3.3 82.0 85.8 120.3
- -
Exchange rate difference in cash and cash equivalents 0.8 0.8 GB Verkstad turns 40 years old!
Liquid funds at the end of the period 47.3 85.8 47.3 85.8

*) Acquisition of subsidiaries after deductions for acquired cash and additional purchase price paid from previous years' business acquisitions.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 21

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The parent company's income statement

2022 2021 2022 2021

Amount in MSEK Oct. - Dec Oct. - Dec Jan-Dec Jan-Dec

Net sales Other 17.7 5.8 36.5 20.5
operating income -0.0 0.0 0.5 0.2
Amount 17.7 5.8 37.0 20.7
Other external expenses -0.8 -1.1 -3.9 -4.4
Personnel costs -7.7 -6.4 -21.6 -19.0
Depreciation of tangible fixed assets Other operating costs -0.0 -0.8 -0.0 -0.1
-
-0.0 -0.0 0.0
Total operating expenses -8.6 -7.5 -25.5 -23.5

Operating results 9.1 -1.7 11.5 -2.7

Profit from shares in group companies Other 4.1 4.1
interest income and similar profit items 0.7 0.7
Interest costs and similar income items -4.8 -0.5 -7.2 -2.1
Results from financial items 0.0 -0.5 -2.4 -2.1

Results before end-of-year appropriations and tax 9.2 -2.2 9.1 -4.8
Closing dispositions -23.4 -13.5 -23.4 -13.5
Group contribution 98.8 65.0 98.8 65.0
Tax on the period's results -16.4 -9.5 -16.6 -9.6
The result of the period 68.2 39.8 67.9 37.1

The parent company's report on comprehensive income

The result of the period 68.2 39.8 67.9 37.1
Other total result:
Total profit for the period 68.2 39.8 67.9 37.1

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 22

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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The parent company's balance sheet

2022 2021 2022 2021

Amount in MSEK Dec. 31 Dec. 31 Amount in MSEK Dec. 31 Dec. 31

ASSETS EQUITY AND LIABILITIES

Fixed assets Restricted equity

Equipment, tools and installations 0.0 0.0 Share capital 0.8 0.8
Shares in group companies 662.5 475.1 Option program 1.3 1.2
Receivables from group companies 3.6 3.6 Total tied up equity 2.1 2.0
Total fixed assets 666.1 478.7 Free equity Share
Current assets premium fund 107.1 107.1
Accounts receivable 0.0 0.0 Balanced result 109.9 80.9
Receivables from group companies 39.1 26.0 The result of the period 67.9 37.1
Other receivables 0.4 0.5 Total unrestricted equity 284.9 225.0
Prepayments and accrued income 0.3 0.3 TOTAL EQUITY 287.0 227.0
Cash and bank balances 0.0 40.4 Untaxed reserves
Total current assets 40.0 67.3
Allocation to accrual fund 61.6 38.2
TOTAL ASSETS 706.0 546.0 Total untaxed reserves 61.6 38.2
Long-term liabilities
Liabilities to credit institutions 118.5 102.5
Liabilities to group companies 17.5 73.5
Other financial long-term liabilities 53.1 12.0
Total long-term liabilities 189.1 188.0
Current liabilities
Liabilities to credit institutions 38.4 18.1
Liabilities to group companies 35.2 0.1
Other short-term financial liabilities 50.8 52.8
Accounts payable 0.3 0.2
Current tax liabilities Other 19.0 11.2
liabilities 13.4 1.6
Accrued costs and prepaid income 11.4 8.8
Total short-term liabilities 168.4 92.7
Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 23
TOTAL LIABILITIES AND EQUITY 706.0 546.0
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FINANCIAL REPORTING
Year-end report 2022-10-01 – 2022-12-31

The parent company's report on changes in equity

Amount in MSEK 2022 2021

Opening equity 1 January 227.0 189.6

Total profit for the period 67.9 37.1
-
Dividend -8.1
Option premiums, net 0.1 0.4
Closing equity 31 December 287.0 227.0
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NOTES
Note 1 Accounting principles
Teqnion applies International Financial Reporting Standards
(IFRS). This interim report has been prepared in accordance
with IAS 34 and RFR 1. The parent company applies RFR 2.
For the group and the parent company, the same accounting
principles and calculation bases have been applied as in the
most recent annual report. There are no new EU-adopted
IFRS standards or IFRIC statements that are applicable to
Teqnion, or have a material effect on the group's results and
position in 2022.
As of the interim report for the second quarter of 2022,
Teqnion no longer presents data according to the previously
stated segments: Industry, Growth and Niche. These segments
were created at the listing in 2019 after inspiration from similar
acquisition-driven companies. Now we have instead found
our way to organize ourselves. Our subsidiaries act
independently as their own entities and we neither work with
them nor follow them as parts of segments. In order for you
who read our financial reports to get as accurate a picture of
our business as possible, it is better to look at the whole.
Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se
If at a later point in Teqnion's evolution we find that a division
into segments would benefit growth, we create new segments
and organize ourselves accordingly.
Amounts are stated in millions of kroner (MSEK) unless
otherwise stated. Rounding may occur in tables and
bills, which results in the stated total amounts not always
being the exact sum of the rounded sub-amounts.
For a more detailed description of the accounting principles
applied for the group and the parent company in this interim
report, see YEAR 2021, page 50.
Note 2 Risks and uncertainty factors
Our diversified and decentralized business model reduces
the total risk for the group and creates a more robust
business structure. All subsidiaries act in their own clear
niches and are affected there by their own industry's special
characteristics, risks and economic conditions. This means
that we as a group are expected to be less affected,
Year-end report 2022-10-01 – 2022-12-31
but not unaffected by the general economy - both up and
down. We are long-term optimistic and short-term healthy
paranoid. Within all parts of the group, we are always ready
to take measures if the economy turns downward.
Covid: We have not experienced any significant direct effects
of covid in Q4. China has now opened up its zero tolerance
against the virus and thus had a large spread of infection,
which can lead to temporary disruptions in deliveries from
there. The Indirect effects we have lived with for a few years
in the form of difficult supply chains, lack of qualified labor
and increased material prices are now tending to be
somewhat better. Our talented colleagues in the subsidiaries
continue to proactively parry the conditions well as a whole,
which is reflected in the group's growth, profitability and
return on capital.
Putin's despicable and illegal invasion of Ukraine: Still no
trade with Russia. Short-term spillover effects such as
increased energy prices, unrest in markets and difficulties in
supply chains are pared at the subsidiary level.
Longer speculative effects are
monitored and acted upon - quickly if necessary.
Note 3 Transactions with related
parties The parent company has a related party relationship
with the management, the board of the parent company, the
owners of Teqnion and the subsidiaries, for more information
see note 26 in the annual report for 2021. No new types of
significant related party transactions have taken place during
the period compared to what appears in the latest the annual
report.
25
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NOTES
Year-end report 2022-10-01 – 2022-12-31

Note 4 Acquired businesses

Acquisitions completed in 2022 During

2022, the following acquisitions have been completed; Telteq i Örbro Aktiebolag, Belle Coachworks Holdings On 1 September 2022, Reward Catering Limited, a global food truck & trailer specialist founded by the Ward

Limited, Reward Catering Limited and Lundahl Transformers AB. family in Bray, County Wicklow, was acquired. Since its inception in 2018, the company has focused on the design
and manufacture of efficient and stylish food trucks for the European and American markets with its main customer

On January 1, 2022, Teltek was acquired in Örebro Aktiebolag, a market-leading system supplier with solutions base in the UK and Ireland. The company has grown rapidly thanks to the fine products, the sound business

for weighing, process control and labeling. The company provides customized systems with e.g. self-developed model and the drive of the management. The carts are usually used for food and beverage outlets, but are also

check scales and owns complementary agencies that broaden the range with X-ray machines, metal detectors used in other contexts such as DJ booths, beauty salons and marketing vehicles, etc.

and labelling. The systems are mainly used in the food industry, the pharmaceutical industry and the growing e-
commerce logistics center. The company's customers, who can be found across large parts of the world, seek
Teltek's solutions to cope with ever higher regulatory requirements, demands on quality and to ensure the best
productivity and cost efficiency. On October 1, 2022, Teqnion acquired the company Lundahl Transformers AB. a world-leading manufacturer of
transformers for audio applications. The company develops and manufactures transformers of the absolute highest
quality for the most demanding applications in both recorded and recorded audio. Lundahls also offers its highly
renowned customers adaptations and completely new constructions upon request. Lundahl's operations are

On 1 August 2022 Belle Coachworks Holdings Limited was acquired, a market leading supplier of customer conducted in Norrtälje and the products are shipped to customers all over the world.

specific covered vehicle transporters in the UK market.

The company's products are sold under its own brand to customers who typically use them to transport high-
Annual net
value vehicles such as vintage cars, sports cars, concept vehicles or other vehicles where the owner wants to
Acquired turnover,
protect the product from prying eyes and external damage. Design and manufacture of the products takes place
Completed acquisitions in 2022 Access percentage, MSEK
in Lowestoft, England.
% 100 SEK 40 million*
Telteq in Örebro Aktiebolag 1 January

Belle Coachworks Holdings Limited 1 August 100 3.2 MGBP*

Reward Catering Limited 1 September 1 100 EUR 3.5 million

Lundahl Transformers AB October 100 SEK 25 million*

*) Average of the last three years

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 26

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NOTES
Year-end report 2022-10-01 – 2022-12-31

Note 4 Acquired businesses, continued

Effects of acquisitions
The acquisitions completed in 2022 have the following effects on the group's assets and liabilities. The
acquisition analyzes have not been finally determined as the group has not received finally determined
information from the acquired units, except for Teltek, whose acquisition analysis is final. Any adjustments
in connection with the final acquisition analysis are not considered to have a significant impact on the
group's results or financial position.
According to the acquisition analyses, the assets and liabilities that were included in the period's acquisitions amount to
the following:
Real value MSEK
Goodwill is motivated overall by expected future profitability, business model, the staff's competence and
commitment as well as the organizations' culture with business acumen and drive. This goodwill is not tax
deductible.
Conditional purchase prices are defined per acquisition and divided into two or more parts and are
dependent on future results achieved in each company during the period from January 2022 to August
2025 at the latest. All conditional purchase prices have a fixed maximum level. The fair value of the
conditional purchase price at the time of acquisition for the specified acquisitions amounted to SEK 79.3
million. Initially, conditional purchase prices are valued at the likely outcome, where conditional purchase
prices with a term exceeding two years have been calculated according to a present value according to an
interest rate that was assessed as market at the time of acquisition. Adjustments are made continuously in

Intangible assets 2.0 the event of changes in the market interest rate.

Tangible fixed assets 3.8

Inventory 33.4
Acquisition-related costs for this year's acquisitions, which are reported among other external costs, amount
Accounts receivable and other receivables 13.3 to SEK 1.1 million.
Liquid funds 16.0
Deferred tax -1.1
Impact on the income statement
Accounts payable and other liabilities -34.3
Jan-Dec 2022 MSEK
Net identifiable assets and liabilities 33.1
Net sales 76.5
Goodwill 157.2 EBITA 8.3
Transferred compensation 190.3
Of which Impact on the income statement if the acquisitions
paid in cash 100.6 were part of the group from 1 January 2022 MSEK
deferred payment 10.3 Net sales 139.0
conditional purchase price 79.3 EBITA 23.0

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 27

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NOTES
Year-end report 2022-10-01 – 2022-12-31

Note 5 Financial instruments – fair value

Contingent purchase prices are reported at fair value in the balance
sheet. For other financial assets and liabilities, fair values do not differ
significantly from reported values.

For conditional purchase prices, a cash flow-based valuation is made,

which is not based on observable market data, level 3. Conditional
purchase prices with a term longer than two years have been present
value calculated according to an interest rate that was assessed as
market at the time of acquisition .

Conditional purchase price 2022 2021

Opening book value 1 January 64.8 34.2
New conditional purchase prices attributable to
the period's acquisitions 89.6 48.5
Paid purchase price -48.6 -16.0
Revaluation via the income statement -3.8 -2.0
Interest costs 0.4
Exchange rate differences 1.6
Closing book value 31 December 103.8 64.8

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 28

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Year-end report 2022-10-01 – 2022-12-31

We are looking for contractors!

CONTACT ADVERTISEMENT

We love talented entrepreneurs and are constantly on the lookout for more great companies with driven
people who want to be with like-minded people and build the world's best business group. If you know
someone who has a company that could be interesting for us, or if you have built one yourself, please
contact Daniel (daniel@teqnion.se or 0721 555 695). If it is interesting enough and we arrange a meeting,
we will send you a small gift! We are an owner with an eternal horizon who cherishes a good culture and
job satisfaction.

WHAT ARE WE
LOOKING FOR? • Stable profit level of SEK 5-15
million after tax. • We want proven profitability and a secure margin of at least 10% after tax (overconfident
forecasts and turn-arounds do not rock our boat). • Good
return on capital (we want to acquire more fine companies rather than tie up capital). • Product
companies that are leaders in a clear niche that do not compete on price. • Clear moats against
competitors - we want the companies to be able to thrive even over decades and in all economic cycles!
We like cumbersome rules and thick ISO standards.
Bloodhound Daniel searches for the finest companies
• Run and staffed by down-to-earth individuals who want to develop the company.
• Easy to understand and simple business model - if it's too complicated, we move on...

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 29

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Year-end report 2022-10-01 – 2022-12-31

The location bank

Apply to us and the world's most fun group building. It is both difficult and fun. We
are growing and are constantly looking for new talented colleagues. Below you will
see some of the vacant positions that we want to fill. The first step is for you to send
your curious CV to mona.axman@teqnion.se and we'll see if we can invite you to
dance...

INNOGUARD (Höör) – Lab savvy business loving project salesperson

Air Target (Kista) – Defense experienced commander, technically sound educator
Vicky Teknik (Haninge) – Versatile technical vehicle troller
Inkom (Kista) – Industry and business loving tech buddy
Lundahl Transformers (Norrtälje) – Sound-loving boss subject with cutting edge technology
TelTek (Örebro) – CEO, team and business builder
Cellab (Sollentuna) – Application specialist digital pathology
Elrond (Huddinge) – Thrill-seeking technology salesman
Wima Propulsion (Arboga) – Economist and administrator
Reward Catering (USA/Dublin) – Settler and a marketing mogul

We may not think that everything will be able to

be carried out by AI in the future, even if we realized
that AI can already draw graffiti batmans...

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 30

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DEFINITIONS
Year-end report 2022-10-01 – 2022-12-31

Definitions
Return on equity Profit after tax for a rolling 12 months divided by average equity in the last four quarters.
Return on capital employed EBITA on rolling 12 months divided by average capital employed over the last four quarters.
Operating results Profit before tax and financial income and expenses.
EBITDA Operating profit before depreciation and write-downs.
EBITDA margin, % EBITDA divided by net sales.
EBITA Operating profit before depreciation and write-downs on intangible fixed assets.
EBITA margin, % EBITA divided by net sales.
Net profit margin Profit after tax divided by net sales.
Equity per share Equity, including non-controlling interests, divided by the number of outstanding shares at the end of the period.
Net debt Borrowing from credit institutions and leasing liabilities minus cash and cash equivalents.
Net debt/EBITDA Net debt, excluding lease liabilities, at the end of the period divided by EBITDA rolling 12 months.
Organic growth Changes in net sales excluding acquisitions and disposals compared to the same period last year.
Earnings per share/earnings per share (EPS) before Profit for the period attributable to the parent company's owners divided by the average number of ordinary shares outstanding.
dilution
Earnings per share after dilution Profit for the period attributable to the parent company's owners divided by the weighted average number of outstanding ordinary shares, adjusted
for dilutive potential ordinary shares resulting from issued options.
Interest-bearing liabilities Borrowing from credit institutions and lease liabilities Rolling
R12 12 months Equity as a percentage of total assets.
Solidity

The parent company's cost as a proportion of total turnover Total operating costs for the parent company, excluding costs for bonuses, divided by the group's net turnover.
Employed capital Equity plus interest-bearing liabilities In the
Conditional purchase price case of acquisitions, a purchase price is paid at the time of acquisition and thereafter purchase prices conditional on the achievement of certain
predetermined profit targets at future times. The total purchase price including fair value of any conditional purchase prices are taken up in the
balance sheet according to the acquisition calculation. In cases where a conditional purchase price is not met due to targets not being reached,
the additional purchase price is recognized as other income over the result. This income does not affect cash flow.

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 31

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SIGNATURE AND INFORMATION
Year-end report 2022-10-01 – 2022-12-31

Financial calendar

Annual report 2022 March 21, 2023

Interim report January-March 2023 Annual April 20, 2023

General Meeting 2023 April 20, 2023
Interim report January-June 2023 July 15, 2023
Interim report January-September 2023 October 21, 2023
Year-end report 2023 February 17, 2024

All reports are published on Teqnion's website: www.teqnion.se/

investor-relations/finansiella-rapporter/

For further information contact Johan Steene,

CEO, 073-333 57 33, johan@teqnion.se Carina Strid, CFO/IR, 070-610
88 55, carina.strid@teqnion.se

Examination
This report has not been reviewed by the company's auditor

Teqnion AB (publ) Org. no: 556713-4183 Postal and

visiting address: Evenemangsgatan 31A, Solna Tel: 08-655 12 00
info@teqnion.se www.teqnion.se

Certified Adviser: Redeye AB

Psst... At https:// www.teqnion.se/ investor-relations/ presentationer och-discussioner/ or via

Bull or bear?
the QR code you can learn a little more about Teqnion through various company
presentations and interviews in podcasts and in writing...
Regardless, we trudge on towards the horizon

Teqnion AB (publ) • Evenemangsgatan 31 • 169 79 Solna • www.teqnion.se 32

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Teqnion's year-end report 2022

Q4: 2022-10-01 – 2022-12-31