===== SIDA 1 =====

INTERIM REPORT JANUARY–MARCH 2024   Q1  
 
 Good revenue growth with increased profitability and  cash flow   JANUARY–MARCH 2024  • Order intake amounted to EUR 39.9 million, a decrease by -4.8% • Order backlog amounted to EUR 120.6 million, a decrease by -2.4% from year-end 2023  • Revenue increased 8.5% to EUR 42.9 million (39.5) • EBIT increased 538% to EUR 2.0 million (0.3) and the EBIT margin improved to 4.5% (0.7%) • Net result for the period increased to EUR 0.5 million (-1.3)  • Operating cash flow improved to EUR 0.05 million (-2.9) • Earnings per share, basic and diluted, increased to EUR 0.005 (-0.014) • Net debt decreased to EUR 17.3 million from EUR 18.6 million at 31 December 2023 and the leverage ratio improved to 1.09x from 1.29x   
   
  
   
KEY EVENTS DURING THE FIRST QUARTER  • Two-year service agreement signed with APM Terminals at Port of Tanger  • Shore power retrofit order signed with major European shipping line worth USD 5.7 million • Three-year service agreement signed for shore power systems in a large North American port • The world’s first ultra-fast 3 MW charging system for battery-powered heavy-duty vehicles now in service  KEY EVENTS AFTER THE END OF THE FIRST QUARTER • A cyber incident early in the second quarter is now closed and under control. The incident incurred some costs and delayed certain deliveries, and will have an impact on the second quarter operating result of approximately EUR 1-2 million. Cavotec is covered by cyber insurance • Order worth about USD 5 million signed for shore power with global shipping company  • Two-year service agreement signed with Port of Salalah for Cavotec’s installed MoorMaster vacuum mooring units • President of the Industry division Simone Sguizzardi leaves Cavotec. CEO David Pagels is acting President of the Industry Division • Order intake included in the quarterly report to increase transparency     FINANCIAL SUMMARY  EUR 000s Q124 Q123 Change LTM 2023 Change Order intake 39,880 41,902 -4.8% 155,332 157,354 -1.3% Order backlog 120,543 149,621 -19.4% 120,543 123,562 -2.4% Revenue 42,903 39,528 8.5% 184,109 180,734 1.9% EBITDA 3,420 1,992 71.7% 15,832 14,404 9.9% EBITDA margin 8.0% 5.0% 3.0pp 8.6% 8.0% 0.6pp EBIT (operating result) 1,951 306 538% 8,872 7,227 22.8% EBIT margin 4.5% 0.7% 3.8pp 4.8% 4.0% 0.8pp Net profit/(loss) for the period 517 (1,344) 138% 2,041 180 1,034% Operating cash flow 49 (2,922) 102% 4,904 1,933 154% Basic and diluted EPS, EUR 0.005 (0.014) 136% 0.021 0.002 950% Net debt (17,269) (19,155) -9.8% (17,269) (18,638) -7.3% Equity/assets ratio 36.2% 33.5% 2.7pp 36.2% 36.0% 0.2pp Leverage ratio 1.09x 4.54x -3.45x 1.09x 1.29x -0.20x

===== SIDA 2 =====

Q1 2024 | Interim Report January-March 2024   
 
 ● cavotec.com 2 
Comment from the CEO Increased service sales, profitability  and cash flow  Our performance improved also in this quarter, proving our extensive change programs with focus on profitable growth to be effec<ve. We are successful with our focus on the service business and the margin-improving measures are beginning to have an effect. We con<nue to implement our change programs and see that we have the poten<al for con<nued improvement. Interna<onal regula<ons con<nue to drive the demand for our electrical solu<ons for the mari<me industries while we see that our more cyclically dependent customers are a bit cau<ous with their investments. Revenue increased 8.5% in the quarter to EUR 42.9 million, mainly driven by strong demand for services and increased deliveries of shore power solutions for container vessels. The latter were already signed in 2022 and show the long lead times in our project business. Currency effects had an impact of -1.2% on total revenue in the quarter.   EBIT con\nued to improve, increasing to EUR 2.0 million from EUR 0.3 million in the in the same period last year. The EBIT margin strengthened to 4.5%. The improvement is a result of our strategic priori\es with associated change programs, which has been successful in the Ports & Mari\me segment. As part of the programs, we have for example focused on opera\onal efficiency and improved produc\on processes to raise profitability in the order backlog. This has resulted in a normaliza\on of the order backlog in Ports & Mari\me.  We s\ll have a lot to do in our change programs, among other things we are to enhance the efficiency in the Industry segment and our supply chain. At the same \me as we work with our improvements in costs and efficiency, we con\nue to increase ac\vi\es within service and product development. We see great poten\al in the service area, not least in our large and con\nuously growing installed base worldwide, and invest in product development to maintain our compe\\veness and leading posi\on in electrifica\on solu\ons.  It is also very sa\sfying to see that the cash flow con\nues to improve and grew to EUR 0.05 million from EUR  -2.9 million. The increase in cash flow is a result of internal programs, launched in 2023 aimed at improving working capital, strengthening the financial posi\on and lowering our financing costs. These efforts will con\nue in 2024 with the same intensity.   A cyber incident early in the second quarter is now closed and under control. The incident incurred some costs and delayed certain deliveries, and will have an impact on the second quarter opera\ng result of approximately EUR 1-2 million. Cavotec is covered by cyber insurance.   Significant progress in service To increase transparency, we have started to report the order intake from this quarter . Order intake decreased  -4.8% to EUR 39.9 million and order backlog decreased slightly from the end of 2023, -2.4% to EUR 120.6 million. We have announced a number of significant contracts during the quarter, both for services and product solu\ons. In February, we announced the order to supply shore power solu\ons to a major European shipping line worth USD 5.7 million. About a month ago, we announced another shore power contract from a global shipping company, worth about USD 5 million. The services 
agreements that we have announced clearly demonstrates the poten\al in this area. We have signed a two-year service agreement with APM Terminals at Port of Tanger and a break-through agreement with a major port in North America to provide all services on the shore power systems we have installed. This deal is groundbreaking for us since will take care of the plug in and plug out the power units for the first \me. This provides us with valuable insights in how we can further improve our products while ensuring that the equipment is operated in the most efficient way. Yesterday, we announced a two-year service agreement with Port of Salalah in Oman where we will provide support for our 32 installed MoorMaster vacuum units. This is a good example of how we generate business based on our installed base.  Last year we took the strategic decision to establish an assembly facility in India to befer serve the important Indian market and explore an afrac\ve supplier base. I have just returned from a week in India visi\ng several clients in a booming market and I am now even more confident that this was the correct strategic move to make. The facility is now opera\onal, and the official inaugura\on will take place this summer. We are mee\ng a lot of interest in our offering and have signed the first orders with Indian based customers. However, we expect it will take some \me to ramp up larger volumes.  Change in Cavotec Management Team Our efforts in improving profitability were most intensive in the Ports & Mari\me segment during 2023. This work con\nues to have the highest priority in 2024, with par\cular focus on the Industry segment. Since April of this year, I have been ac\ng as President of the Industry segment as we look for a permanent solu\on. I would like to take this opportunity to thank Simone Sguizzardi, former President of the Industry segment, for his efforts and contribu\ons to Cavotec, and wish him success in his next role outside the Group.  Electrifica\on is driving our business Our business is driven by the megatrend of electrifica\on of society. Our largest segment – Ports & Mari\me – is also driven by extensive interna\onal regula\ons to reduce greenhouse gas emissions in marine environments and noise levels in ports. These strong driving forces, combined with our clear strategic priori\es, give us good condi\ons to con\nue to improve our performance and to be a key player in the transi\on to a more sustainable society.  David Pagels Chief Executive Officer

===== SIDA 3 =====

Q1 2024 | Interim Report January-March 2024   
 
3 ● cavotec.com 
Financial Review – Group  REVENUE – GROUP AND SEGMENTS – VOLUMES, PRICES, CURRENCY  EUR 000s Q124 Q123  Group Ports & Maritime Industry Group Ports & Maritime Industry Revenue  42,903 26,653 16,250 39,528 23,637 15,891 Increase/(decrease) 3,375 3,016 359 12,120 11,286 834 Change 8.5% 12.8% 2.3% 44.2% 91.4% 5.5% Of which       - Volumes and prices 9.7% 14.0% 3.6% 44.8% 91.3% 6.7% - Currency effects -1.2% -1.2% -1.3% -0.6% 0.1% -1.2%  JANUARY-MARCH 2024  Revenue and order backlog Revenue increased 8.5% to EUR 42.9 million (39.5), mainly driven by good demand for services and deliveries of shore power solutions for container vessels in the Ports & Maritime division. Currency effects had a negative impact on total revenue of -1.2% in the quarter.  Order intake decreased -4.8% to EUR 39.9 million from EUR 41.9 million in the same period last year. Order backlog decreased -2.4% to EUR 120.6 million from EUR 123.6 million at year-end 2023. The order backlog in the Ports & Maritime segment has now been normalised after last year’s focus on profitable growth in the order backlog.  EBIT (operating result) EBIT increased 538% to EUR 2.0 million (0.3) and the EBIT margin increased 3.8 percentage points to 4.5% (0.7%). The EBIT improvement is due to the successful work in Ports & Maritime to implement the change programs and higher service volumes.  Profit for the period and earnings per share Net financial income amounted to EUR -0.7 million (-1.0). Income taxes amounted to EUR 0.8 million (0.6). Profit for the period increased to EUR 0.5 million (-1.3). Earnings per share, basic and diluted, improved to EUR 0.005 (-0.014).  Cash flow Operating cash flow increased to EUR 0.05 million (-2.9) due to improved profitability and working capital.    
Ports & Maritime 
 EBIT margin, % 
EBIT, EUR million Industry 
-6%-4%-2%0%2%4%6%8%10%12%14%
-2-1012345
Q122Q222Q322Q422Q123Q223Q323Q423Q124
EBIT and EBIT marginEUR m
 - 10 20 30 40 50 60
Q122Q222Q322Q422Q123Q223Q323Q423Q124
Revenue quarterly developmentEUR m

===== SIDA 4 =====

Q1 2024 | Interim Report January-March 2024   
 
4 ● cavotec.com 
 Financial position Net debt decreased to EUR 17.3 million from EUR 18.6 million at 31 December 2023. Net debt amounted to EUR 19.2 million at 31 March 2023. The leverage ratio, measured as debt-to-equity, improved in the quarter to 1.09x from 1.29x at 31 December 2023. The leverage ratio amounted to 4.54x at 31 March 2023. The equity/assets ratio increased in the quarter to 36.2% from 36.0% at 31 December 2023. The equity/assets ratio amounted to 33.5% at 31 March 2023.  Employees At the end of the quarter, Cavotec had 664 (625) full-time equivalent employees. At the end of 2023, Cavotec had 660 full-time equivalent employees. The increase from the same quarter last year is to a large extent related to new recruitments in service.

===== SIDA 5 =====

Q1 2024 | Interim Report January-March 2024   
 
5 ● cavotec.com 
 Financial Review – Segments  ORDER INTAKE AND ORDER BACKLOG – SEGMENTS EUR 000s 31 Mar, 2024 31 Mar, 2023 Change 31 Dec, 2023 Change Order intake      Ports & Maritime 23,260 27,064 -14.1% 27,740 -16.1% Industry 16,620 14,838 12.0% 12,940 28.4% Group 39,880 41,902 -4.8% 40,680 -2.0% Order backlog      Ports & Maritime 96,373 120,357 -19.9% 99,801 -3.4% Industry 24,170 29,264 -17.4% 23,761 1.7% Group 120,543 149,621 -19.4% 123,562 -2.4%   PORTS & MARITIME  JANUARY-MARCH 2024  Revenue and order backlog Revenue increased 12.8% to EUR 26.7 million (23.6), mainly driven by good demand for services and deliveries of shore power solutions for container vessels. Currency effects had a negative impact of -1.2%.   Order intake decreased -14.1% to EUR 23.3 million from EUR 27.1 million in the same quarter last year. Order backlog decreased -3.4% to EUR 96.4 million from EUR 99.8 million in the previous quarter. In the first quarter 2024, Cavotec signed a contract to retrofit vessels with shore power solutions for a major European shipping line. The order value is USD 5.7 million and deliveries are scheduled throughout 2024. A two-year service agreement with APM Terminals at the Port of Tanger was signed which means that Cavotec will perform service of its so far installed 31 Power Units and 45 MoorMaster NxG units at the terminals. A three-year agreement was also signed for all service of the shore power systems Cavotec has installed in a large North American port. After the end of the quarter, Cavotec signed an order for shore power with a global shipping company, valued at about USD 5 million. The order includes a substantial number of PowerFit shore power units with deliveries scheduled later this year. Cavotec has also announced a two-year service agreement with Port of Salalah in Oman covering support of our 32 installed MoorMaster vacuum units.  EBITDA EBITDA increased 154% to EUR 2.8 million (1.1) and the EBITDA margin improved 5.8 percentage points to 10.5% (4.7%) due to the successful work to to implement the change programs and higher service volumes. The order backlog has now been normalised after last year’s focus on profitable growth.      
EBITDA Ports & Maritime, EUR million 
EBITDA margin Ports & Maritime, % 
-15%-10%-5%0%5%10%15%20%25%30%
-3-2-101234567
Q122Q222Q322Q422Q123Q223Q323Q423Q124
Ports & Maritime EBITDA and EBITDA marginEUR m
0510152025303540
Q122Q222Q322Q422Q123Q223Q323Q423Q124
Ports & Maritime RevenueEUR m

===== SIDA 6 =====

Q1 2024 | Interim Report January-March 2024   
 
6 ● cavotec.com 
 INDUSTRY  JANUARY-MARCH 2024  Revenue and order backlog Revenue increased 2.3% to EUR 16.3 million (15.9), mainly driven by the demand for services. Currency effects had a negative impact of -1.3%.   Order intake increased 12.0% to EUR 16.6 million from EUR 14.8 million in the same quarter last year. Order backlog increased 1.7% to EUR 24.2 million from EUR 23.8 million in the previous quarter.   EBITDA EBITDA decreased -33.3% to EUR 0.6 million (0.9) and the EBITDA margin decreased -1.7 percentage points to 3.9% (5.6%).       
EBITDA Industry, EUR million 
EBITDA margin Industry, % 
05101520
Q122Q222Q322Q422Q123Q223Q323Q423Q124
Industry RevenueEUR m
-10%-5%0%5%10%15%20%25%
-10123
Q122Q222Q322Q422Q123Q223Q323Q423Q124
Industry EBITDA and EBITDA marginEUR m

===== SIDA 7 =====

Q1 2024 | Interim Report January-March 2024   
 
7 ● cavotec.com 
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME 
EUR 000s Unaudited  31 Mar, 2024 Unaudited 31 Mar, 2023 Unaudited year  31 Dec, 2023 Revenue from sales of goods and services 42,903 39,528 180,734 Other income 736 413 2,076 Cost of materials (21,753) (21,580) (101,219) Employee benefit costs (14,153) (12,028) (47,895) Operating expenses (4,313) (4,341) (19,292) Gross operating result 3,420 1,992 14,404     Depreciation and amortisation (572) (906) (2,782) Depreciation of right-of-use of leased asset (897) (780) (3,311) Impairment losses - - (1,084) Operating result (EBIT) 1,951 306 7,227     Interest income 2 - 18 Interest expenses (677) (1,039) (3,471) Currency exchange differences – net 76 40 (16) Other financial item - (14) 5     Profit / (loss) before income tax 1,352 (707) 3,763     Income taxes (835) (637) (3,583)     Profit / (loss) for the period 517 (1,344) 180     Other comprehensive income:    Items that will not be reclassified to profit or loss 7 4 (99)     Currency translation differences (416) (529) (1,836) Items that may be subsequently reclassified to profit / (loss) (416) (529) (1,836)     Other comprehensive income for the period, net of tax (409) (525) (1,935)     Total comprehensive income for the period 108 (1,869) (1,755)     Total comprehensive income attributable to:    Equity holders of the Group 108 (1,869) (1,755) Non-controlling interest - - - Total 108 (1,869) (1,755)     Profit / (loss) attributed to:    Equity holders of the Group  517 (1,344) 180 Total 517 (1,344) 180     Basic and diluted earnings per share attributed to the equity holders of the Group 0.005 (0.014) 0.002 Average number of shares 106,696,030 96,180,307 104,103,112

===== SIDA 8 =====

Q1 2024 | Interim Report January-March 2024   
 
8 ● cavotec.com 
CONSOLIDATED BALANCE SHEET EUR 000s Unaudited 31 Mar, 2024 Unaudited 31 Dec, 2023 Assets   Current assets   Cash and cash equivalents 14,647 15,056 Trade receivables 29,245 27,942 Contract assets 2,271 2,862 Tax assets 487 544 Other current receivables 11,428 9,123 Inventories 36,961 37,429 Assets held for sale - 1,814 Total current assets 95,039 94,770    Non-current assets   Property, plant and equipment 5,378 5,414 Right-of-use of leased assets 10,730 11,529 Intangible assets 36,825 37,315 Non-current financial assets 288 68 Deferred tax assets 7,409 6,897 Other non-current receivables 1,231 1,231 Total non-current assets 61,861 62,454 Total assets 156,900 157,224    Equity and Liabilities   Current liabilities   Bank overdrafts (478) - Current lease liabilities (2,859) (2,527) Trade payables (23,570) (26,004) Contract liabilities (21,444) (19,268) Tax liabilities (5,672) (5,111) Provision for risk and charges, current (2,189) (2,171) Other current liabilities (12,488) (11,320) Total current liabilities (68,700) (66,401)    Non-current liabilities   Non-current financial liabilities (19,552) (21,468) Non-current lease liabilities (8,579) (9,167) Deferred tax liabilities (1,239) (1,251) Other non-current liabilities (19) (12) Provision for risk and charges, non-current (1,434) (1,794) Employee benefit obligation (630) (569) Total non-current liabilities (31,453) (34,261)    Total liabilities (100,153) (100,662)    Equity   Share Capital (54,130) (54,130) Reserves (54,991) (55,323) Retained earnings 52,374 52,891 Equity attributable to owners of the parent (56,747) (56,562) Non-controlling interests - - Total equity (56,747) (56,562)    Total equity and liabilities (156,900) (157,224)

===== SIDA 9 =====

Q1 2024 | Interim Report January-March 2024   
 
9 ● cavotec.com 
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY  EUR 000s Share Capital Reserves Retained earnings Equity related to owners of the parent Non- controlling interest Total equity 
Balance as at 1 January 2023 (45,288) (51,633) 53,071 (43,850) - (43,850)        (Profit) / Loss for the period - - 1,344 1,344 - 1,344 Currency translation differences - 529 - 529 - 529 Remeasurements of post-employment benefit obligations - (4) - (4) - (4) Total comprehensive income and expenses - 525 1,344 1,869 - 1,869        Employees share scheme - (63) - (63) - (63) Capital increase (8,843) - - (8,843) - (8,843) Share Premium Reserve - (5,595) - (5,595) - (5,595) Transactions with shareholders (8,843) (5,658) - (14,501) - (14,501)        Balance as at 31 March 2023 (54,131) (56,766) 54,415 56,482 - 56,482        Unaudited       Balance as at 1 January 2023 (45,288) (51,633) 53,071 (43,850) - (43,850)        (Profit) / Loss for the period - - (180) (180) - (180) Currency translation differences - 1,836 - 1,836 - 1,836 Remeasurements of post-employment benefit obligations - 99 - 99 - 99 Total comprehensive income and expenses - 1,935 (180) 1,755 - 1,755        Employees share scheme - 58 - 58 - 58 Capital increase (8,843) - - (8,843) - (8,843) Share Premium Reserve - (5,683) - (5,683) - (5,683) Transactions with shareholders (8,843) (5,625) - (14,467) - (14,467)        Balance as at 31 December 2023 (54,130) (55,323) 52,891 (56,562) - (56,562)        Balance as at 1 January 2024 (54,130) (55,323) 52,891 (56,562) - (56,562)        (Profit) / Loss for the period - - (517) (517) - (517) Currency translation differences - 416 - 416 - 416 Remeasurements of post-employment benefit obligations - (7) - (7) - (7) Total comprehensive income and expenses - 409 (517) (108) - (108)        Employees share scheme - (77) - (77) - (77) Transactions with shareholders - (77) - (77) - (77)        Balance as at 31 March 2024 (54,130) (54,991) 52,374 (56,747) - (56,747)

===== SIDA 10 =====

Q1 2024 | Interim Report January-March 2024   
 
10 ● cavotec.com 
CONSOLIDATED STATEMENT OF CASH FLOWS EUR 000s Unaudited  31 Mar, 2024 Unaudited  31 Mar, 2023 Audited  31 Dec, 2023 Profit / (loss) for the period 517 (1,344) 180     Adjustments for:    Net interest expenses 675 1,039 3,453 Current taxes 1,346 512 4,221 Depreciation and amortization 572 906 2,782 Depreciation of right-of-use of leased assets 897 780 3,311 Impairment losses - - 1,084 Deferred tax (511) 126 (638) Provision for risks and charges (558) 220 69 Capital (gain) or loss on assets 28 2 (20) Other items not involving cash flows (228) 101 (454) Interest paid (638) (1,117) (3,057) Taxes (paid) / received (728) 992 (66)  855 3,560 10,685     Cash flow before changes in working capital 1,372 2,216 10,685     Impact of changes in working capital:    Inventories 254 (1,416) 5,451 Trade receivables and contract assets (230) 3,887 4,381 Other current receivables (2,259) (1,083) 843 Trade payables and contract liabilities (259) (6,437) (18,979) Other current liabilities 1,171 (89) (628) Impact of changes involving working capital (1,323) (5,138) (8,932)     Net cash inflow / (outflow) from operating activities 49 (2,922) 1,933     Financial activities:    Increase of equity capital - 14,438 14,526 Net changes in loans and borrowings (1,522) (3,969) (4,696) Repayment of lease liabilities (334) (297) (3,156) Net cash inflow / (outflow) from financial activities (1,856) 10,172 6,674     Investing activities:    Investments in property, plant and equipment (182) (98) (911) Investments in intangible assets (1) (2) (624) (Increase)/Decrease of non-current financial asset (220) - 38 Disposal of assets 1,749 - (29) Net cash inflow / (outflow) from investing activities 1,346 (100) (1,526)     Cash at the beginning of the period 15,056 9,625 9,625 Cash flow for the period (461) 7,149 7,081 Currency exchange differences (426) (231) (1,650) Cash at the end of the period 14,169 16,543 15,056

===== SIDA 11 =====

Q1 2024 | Interim Report January-March 2024   
 
11 ● cavotec.com 
DISAGGREGATION OF REVENUE FROM CONTRACTS WITH CUSTOMERS The Group derives revenue from the transfer of goods and services over time and at a point in time in the following divisions and geographical regions.  31 March 2024 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 25,945 16,250 42,195 Over time 708 - 708 Total 26,653 16,250 42,903  31 March 2023 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 23,429 15,891 39,320 Over time 208 - 208 Total 23,637 15,891 39,528  31 December 2023 EUR 000s         Ports & Maritime        Industry  Total Revenue from external customer    Timing of revenue recognition    At a point in time 110,712 66,045 176,757 Over time 3,976 - 3,976 Total 114,688 66,045 180,734   31 March 2024 EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 6,233 3,704 16,716 26,653 Industry 1,433 11,803 3,014 16,250 Total 7,666 15,507 19,730 42,903  31 March 2023  EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 2,088 8,831 12,718 23,637 Industry 854 11,813 3,224 15,891 Total 2,942 20,644 15,942 39,528  31 December 2023 EUR 000s  AMER  EMEA  APAC  Total Ports & Maritime 18,239 45,726 50,723 114,688 Industry 4,751 42,228 19,067 66,045 Total 22,990 87,954 69,790 180,734

===== SIDA 12 =====

Q1 2024 | Interim Report January-March 2024   
 
12 ● cavotec.com 
SEGMENT INFORMATION  EUR 000s Ports & Maritime Industry Other reconciling items Total  Unaudited Three months ended 31 March 2024     
Revenue from sales of goods and services 26,653 16,250 - 42,903 Other income 449 287 - 736 Cost of materials and operating expenses before depreciation and amortization (23,334) (15,299) (1,586) (40,219) Gross Operating Result (EBITDA) 3,768 1,238 (1,586) 3,420      Unaudited Three months ended 31 March 2023     Revenue from sales of goods and services 23,637 15,891 - 39,528 Other income 156 257 - 413 Cost of materials and operating expenses before depreciation and amortization (21,894) (14,857) (1,198) (37,949) Gross Operating Result (EBITDA) 1,898 1,292 (1,198) 1,992      Unaudited Year ended 31 December 2023     Revenue from sales of goods and services 114,688 66,045 - 180,734 Other income 1,048 1,028 - 2,076 Cost of materials and operating expenses before depreciation and amortization (101,237) (61,902) (5,266) (168,406) Gross Operating Result (EBITDA) 14,499 5,171 (5,266) 14,404

===== SIDA 13 =====

Q1 2024 | Interim Report January-March 2024   
 
13 ● cavotec.com 
PARENT COMPANY – CONDENSED STATEMENT OF COMPREHENSIVE INCOME CAVOTEC SA EUR 000s Unaudited  31 Mar, 2024 Unaudited  31 Mar, 2023 Audited 31 Dec, 2023 Other income 554 552 2,352 Employee benefit costs (301) (350) (240) Operating expenses (547) (634) (2,482) Operating Result (294) (433) (370) Interest expenses – net (427) (645) (1,767) Currency exchange differences – net 12 56 70 Other financial items - (19) - Profit / (Loss) for the period (709) (1,041) (2,068) Income taxes (3) (2) (12) Profit / (Loss) for the period (712) (1,043) (2,080) Other comprehensive income:    Actuarial gain (loss) - - - Total comprehensive income for the period (712) (1,043) (2,080)  PARENT COMPANY – CONDENSED BALANCE SHEET CAVOTEC SA EUR 000s Unaudited 31 Mar, 2024 Audited  31 Dec, 2023 Assets   Current assets   Cash and cash equivalents 30 152 Trade receivables 2,663 3,023 Tax assets 11 25 Other current receivables 970 380 Total current assets 3,674 3,580 Non-current assets   Investment in subsidiary companies 93,365 93,365 Intangible assets 162 185 Other non-current financial liabilities 287 68 Total non-current assets 93,814 93,618    Total assets 97,488 97,198    Equity and Liabilities   Current liabilities   Bank overdraft (478) - Trade payables (1,716) (1,279) Other current liabilities (4,775) (4,772) Total current liabilities (6,969) (6,051) Non-current liabilities   Long-term financial debt (36,915) (36,915) Other non-current liabilities (19) (12) Total non-current liabilities (36,934) (36,927)    Total liabilities (43,903) (42,978)    Total equity (53,585) (54,220)    Total equity and liabilities (97,488) (97,198)

===== SIDA 14 =====

Q1 2024 | Interim Report January-March 2024   
 
14 ● cavotec.com 
Other informationGeneral information  Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications worldwide. Backed by close to 50 years of experience, our systems ensure safe, efficient, and sustainable operations for a wide variety of customers and applications worldwide. Our credibility comes from our application expertise, dedication to innovation and world class operations. Our success rests on the core values we live by: Integrity, Accountability, Performance and Teamwork. Cavotec’s personnel represent many cultures and provide customers with local support, backed by the Group’s global network of engineering expertise. Cavotec SA, the Parent company, is a limited liability company incorporated and domiciled in Switzerland. Cavotec SA is listed on Nasdaq Stockholm in the Mid Cap segment.   These audited Financial Statements have been approved by the Board of Directors for publication on 15 May 2024.   Basis of preparation of Financial Statements This quarterly report was prepared in accordance with IFRS, applying IAS 34 Interim Financial Reporting. The same accounting and valuation policies were applied in the most recent annual report. The amendments to the standards that became applicable for the current reporting period did not have an impact on Cavotec accounts. The condensed interim financial statements should be read in conjunction with the annual financial statements for the year ended in December 2023. The preparation of quarterly financial statements requires management to make judgements, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income, and expenses. Actual results may differ from these estimates.   Segment information Operating segments have been determined based on the Group Management structure in place and on the management information and used by the Chief Operating Decision Maker (CODM) to make strategic decisions.   The two operating segments are:  a) Ports & Maritime – development, manufacture and service of innovative automation and electrification technologies for the global ports and maritime sectors.  
b) Industry – development, manufacture and service of electrification and radio control products for industrial applications, such as cranes, energy, processing and transportation, mining, and tunnelling.  Noteworthy risks and uncertainties Cavotec’s significant risks and uncertainties are divided into three categories: market, credit, and liquidity risks. In these categories, there are both risks due to political and macroeconomic trends and specific risks directly linked to business carried out by the Group. Market risk includes currency and interest rate risk. Credit risk includes the risk of managing our customers and other receivables while liquidity risk includes the management of cash in a diverse, global group. Read more about the risks in the Annual Report 2023.  Forward looking statement Some statements in this report are forward-looking, and the actual outcome could be materially different. In addition to the factors explicitly discussed, other factors could have a material effect on the actual outcome. Such factors include, but are not limited to, general business conditions, fluctuations in exchange rates and interest rates, political developments, the impact of competing products and their pricing, product development, commercialization and technological difficulties, interruptions in supply, and major customer credit losses.  Changes in Cavotec Management Team In April 2024, Simone Sguizzardi, President of the Industry Division left Cavotec. David Pagels, CEO, is acting President of the Industry Division while the search process is ongoing for a permanent solution.  Annual General Meeting 2024 The Annual General Meeting 2024 will take place on  4 June 2024 in Lugano, Switzerland.   Financial calendar  Second quarter report          25 July, 2024 Third quarter report              8 November, 2024 Fourth quarter report           21 February, 2025 Annual and Sustainability     Week that begins  Report 2024                            31 March, 2025   Webcasted presentation and telco CEO David Pagels and CFO Joakim Wahlquist will present the interim report on Wednesday 15 May at 10:00 am CEST. If you wish to participate via webcast, please use the link https://ir.financialhearings.com/cavotec-sa-q1-report-

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Q1 2024 | Interim Report January-March 2024   
 
15 ● cavotec.com 
2024. Via the webcast you may submit written questions. If you wish to participate via teleconference, please register on the link https://conference.financialhearings.com/teleconference/?id=50048865. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. The presentation is in English.  Interim reports on cavotec.com The full report and previous interim and annual reports are available on https://ir.cavotec.com/financial-reports. 
Contact person for analysts and media Joakim Wahlquist, CFO  Phone +41 91 911 4010 Email investor@cavotec.com   This is information that Cavotec SA is obliged to make public pursuant to the EU Market Abuse Regulation. The information was submitted for publication, through the agency of the contact person set out above, at 07:00 am CEST on 15 May 2024.               About Cavotec Cavotec is a leading cleantech company that designs and delivers connection and electrification solutions to enable the decarbonization of ports and industrial applications. Backed by close to 50 years of experience, our systems ensure safe, efficient and sustainable operations for a wide variety of customers and applications worldwide. To find out more about Cavotec, please visit cavotec.com.