0ENE Harboes Bryggeri A/s

Today, the Board of Directors of Harboes Bryggeri A/S has discussed and approved the following interim report for the first half of 2021/22.

Skælskør, 2 December 2021Bernhard Griese, Chairman & Claus Christian Bayer, Deputy chairman

In this connection, CEO Søren Malling states:

"We are pleased that our sales continue to develop positively driven in particular by export markets, where targeted sales eff orts ensure progress with both existing and new customers in all regions. But we also note that the current challenges of raw  material shortages, rising commodity prices and freight capacity constraints are affecting both sales and earnings in Q2. We are fully focused on operating as efficiently as possible under the given market conditions, and implemented optimisations of both fixed and unit costs in our product range in Q2 as well. At the same time, we are in close dialogue with customers on the implementation of necessary price increases due to general commodity price increases and price inflation acr oss markets. We expect these conditions to continue to affect the company for the remainder of the year and, taking this into account, we are mainta ini ng our expectations for the year.

We continue to work hard to create a new positive momentum, and have invested in forward looking marketing initiatives and continued efficiency improvements in both production and supply chain during the quarter, the results of which we will see  gradually. We therefore have positive expectations in terms of future developments, and are pleased to have an organisation that delivers solid efforts to achieve the desired results every day."

For further information:CFO Michael Møller JensenTel.: +45 22 10 05 94

Attachment

• Harboes Bryggeri A/S - Interim report H1 2021/22

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