May 2022

Cary Group’s 2022 Annual General Meeting

Cary Group Holding AB (publ) held its Annual General Meeting today, Tuesday, 17 May. The Annual General Meeting was conducted by means of only advance voting (so-called postal voting) with the support of temporary legal rules.

Approval of the Annual Report, appropriation of profits and discharge of liability of Board members and the CEO

The Annual General Meeting resolved to adopt the income statement and the balance sheet for the group and the parent company. The Annual General Meeting resolved to carry forward the earnings of the year to a new account. The Board members and the CEO were discharged of liability in respect of the financial year 2021.

Fees to the Board of Directors and auditors

The Annual General Meeting resolved that fees would be paid to the Board of Directors in the total amount of SEK 1,500,000, distributed as follows: SEK 600,000 to the Chairman and SEK 300,000 to other Board members. It was further resolved that fees of SEK 125,000 shall be paid to the Chairman of the Audit Committee and SEK 60,000 to the member of the Audit Committee. Further, it was resolved that fees of SEK 75,000 shall be paid to the Chairman of the Remuneration Committee and SEK 50,000 to the member of the Remuneration Committee. It was resolved that fees to auditors be paid in accordance with approved invoices.

Election of Board members and auditors

The Annual General Meeting resolved that the Board of Directors would comprise four members and re-elected Juan Vargues, Joakim Andreasson, Magdalena Persson and Ragnhild Wiborg. Juan Vargues was re-elected as Chairman of the Board of Directors.

Ernst & Young was re-elected as auditor for the period up to the end of the next Annual General Meeting, with Authorised Public Accountant Stefan Andersson Berglund as Auditor-in-Charge until further notice.

Guidelines for remuneration to senior executives

The Annual General Meeting resolved to adopt the guidelines for remuneration and other employment conditions to senior executives. The guidelines’ main stipulation is that remuneration to senior executives corresponds to market levels. According to the guidelines, senior executives receive both a base salary and a long- and short term performance based cash salary. The fundamental principle is that the long- and short term performance based cash salary for the CEO may amount to a maximum of 75 per cent of the annual base salary and to a maximum of 50 per cent of the annual base salary for each other senior executive, respectively.

Authorisation to acquire and sell shares

The Annual General Meeting resolved to authorise the Board of Directors to, on one or several occasions during the period until the 2023 Annual General Meeting, acquire shares in an amount limited so that the total holding of treasury shares does not exceed 10 per cent of all shares in the company. The Annual General Meeting also resolved to authorise the Board of Directors to, on one or several occasions during the period until the 2023 Annual General Meeting, sell treasury shares outside Nasdaq Stockholm.

Authorisation to resolve on new share issue

The Annual General Meeting further resolved, in accordance with the Board of Directors’ proposal, to authorize the Board of Directors to – at one or several occasions and for up until the end of the Annual General Meeting 2023 – resolve on issue of shares up to no more than 20 percent of the registered share capital at the time of the new share issue. The new issue of shares can be made with or without deviation from the shareholders’ preferential rights and with or without provisions for contribution in kind, set-off or other conditions.

For more information, please contact:

Helene Gustafsson, Head of IR & Corporate Communication
Tel.: +46 708 684 050
Email: helene.gustafsson@carygroup.com

About Cary Group

Cary Group provides sustainable damage repair and car care services and has business operations in Sweden, Denmark, Norway, the UK and Spain. It specialises in the repair and replacement of automotive glass, with a complementary range of services in auto body repair and SMART repair. With good accessibility for customers, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. For more information, please visit www.carygroup.com.

The information was submitted for publication, through the agency of the contact person above, on 17 May 2022 at 16.00 CEST.

Cary Group’s 2022 Annual General Meeting

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May 2022

Cary Group commits to the Science Based Targets initiative

Cary Group aims to be an industry leader when it comes to climate action. The company has, as a part of its strategy, set a high and clear objective on how to reduce its climate impact. Therefore, Cary Group commits to the Science Based Targets initiative (SBTi) as a next step to reach its reduction targets in line with the 1,5°C goal of the Paris Agreement by 2030.

Cary Group has committed to set targets in line with the Science Based Targets initiative (SBTi), consistent with the Paris Agreement. This is a natural step in Cary Group’s sustainable strategy, which incorporates sustainability throughout the whole customer offering, with digital solutions, convenient locations, access to fossil free courtesy cars, focus to increase the repair rate which reduces the CO2e emissions[1], as well as the recycling of windscreens[2].

Based on calculations of the group’s emissions of carbon dioxide in 2020, Cary Group’s goal is to reduce its carbon emissions by 41% by 2030. The goals, which are followed up annually, are in line with the Science Based Targets initiative’s criteria and the 1,5°C goal of the Paris Agreement. For newly acquired businesses, there is an adjustment period of two years, which means that the goals are followed up with and without the new acquisitions included in the calculations.By committing to the SBTi, Cary Group wants to validate its sustainability targets according to scientific criteria.

The group’s reduction targets are based on three areas of reduction, where measures and goals have been defined within each area. To reach the goal by 2030, Cary Group needs to ensure fossil free transports both internally and externally, continuously increase the share of renewable electricity and heating, and reduce the climate impact of the produced glass which the company purchases.

“Sustainability is an integrated part of Cary Group’s strategy and of crucial importance for both society around us and for our business. We constantly work together with our customers and our suppliers to develop a more sustainable customer offering. To set scientifically based targets underlines our determination to reduce greenhouse gas emissions”,says Mia Ejendal, COO and Head of Sustainability at Cary Group.

SBTi is a partnership between the Carbon Disclosure Project, the UN’s Global Compact, the World Resources Institute and the World Wide Fund for Nature. The SBTi requirements include that greenhouse gas emissions must decrease in line with the 1,5°C goal of the Paris Agreement, and include Scope 1, 2 and 3 if more than 40% of the company’s emissions comes from Scope 3.

For more information, please contact:

Helene Gustafsson, Head of IR & Corporate Communication Cary Group
Phone: +46 70 868 40 50
E-mail:Helene.gustafsson@carygroup.com

Mia Ejendal, COO Cary Group
Phone: +46 73 600 33 63
E-mail:mia.ejendal@carygroup.com

[1] To replace a windscreen results in direct emissions of approximately 44 kg CO2e (carbon dioxide equivalents), which includes production, transport and recycling, based on Nordic data. Repairing a windscreen results in emissions of nearly zero kg CO2e. During 2021, Cary Group’s repair rate (the number of repairs in relation to the number of replaced windscreens) exceeded 30%, which means that the company has saved 6800 tons of CO2 equivalents.
[2] 90% of the glass from replaced windscreens in Cary Group’s workshops is reused. 100% is sent to recycling.

About Cary Group
Cary Group provides sustainable damage repair and car care services and has business operations in Sweden, Denmark, Norway, the UK and Spain. It specialises in the repair and replacement of automotive glass, with a complementary range of services in auto body repair and SMART repair. With good accessibility for customers, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. For more information, please visitwww.carygroup.com.

Cary Group commits to the Science Based Targets initiative

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May 2022

Rapid sales growth and a strong start to the year

First quarter 2022

Net revenue increased by 65% to SEK 756 million (457). Organic growth was 7%.
Adjusted EBITA increased to SEK 88 million (73), corresponding to a margin of 11.6% (15.9).
Profit for the period totalled SEK 33 million (32) and earnings per share, basic and diluted, amounted to SEK 0.24 (1.29).
Adjusted earnings per share, basic and diluted, totalled SEK 0.32 (1.40).
Cash flow from operating activities amounted to SEK 76 million (111).
On 1 January, the acquisitions were completed of German company Zentrale Autoglas GmbH, which operates a bus glass repair and replacement business, and Norwegian company MPS Bilskade AS, which operates within SMART repair.

Significant events during the first quarter

At the end of the first quarter, Cary Group signed an agreement to acquire 100% of the shares in UK company Charles Pugh (Holdings) Ltd. The company is one of the UK’s market leaders in vehicle glass repair and replacement, along with related wholesale business. This acquisition strengthens Cary Group’s market position in the United Kingdom and enables synergies with Cary Group’s existing UK operations. The acquisition was completed on 4 May 2022.
Cary Group has entered into an agreement with the company’s banks on extending the current credit facility by a further SEK 1,050 million, making the total credit facility available SEK 3,100 million. This financing secures access to capital for the company’s continued expansion.

Significant events after the first quarter

On 1 April, the acquisition was completed of GlassCo S.A., owner of “ExpressGlass”, which operates a vehicle glass repair and replacement business in Portugal.

Presentation of the report
A conference call for investors, analysts and financial media will be held at 10:00 AM CET. The report will be presented by Anders Jensen, CEO, as well as by Joakim Rasiwala, CFO.

You can follow the conference via https://tv.streamfabriken.com/cary-group-q1-2022.

A recording of the conference call will be available afterwards at www.carygroup.com.
Dial-in details for the conference call:
SE: +46 8 566 42 705
UK: +44 333 300 92 67
US: +1 6 319 131 422 PIN US: 91572095#

Anders Jensen, CEO, Cary Group

Stockholm, 10 May 2022

For more information, please contact:

Helene Gustafsson, Head of IR & Corporate Communication
Tel: +46 708 684 050
E-mail: helene.gustafsson@carygroup.com

About Cary Group
Cary Group provides sustainable damage repair and car care services and has business operations in Sweden, Denmark, Norway, the UK, Spain and Germany. It specialises in the repair and replacement of automotive glass, with a complementary range of services in auto body repair and SMART repair. With good accessibility for customers, high-quality products and smart solutions, we help our customers make simplified and sustainable choices. For more information, please visit www.carygroup.com.

This information is information that Cary Group Holding AB is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-05-10 08:00 CEST.

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