All for One : Half-Year Financial Report 2023/24

HALF-YEAR FINANCIAL REPORT AS OF 31 MARCH 2024

Significant sales and operating earnings growth in H1 2023/24 // Strong order inflow // Management board confirms guidance for 2023/24

REVENUE

in EUR millions

	10/2023 - 03/2024		10/2022 - 03/2023
	256.6		243.4

+5%

RECURRING REVENUE

in EUR millions

10/2023 - 03/2024	10/2022 - 03/2023
	130.3
140.3

+8%

EBIT BEFORE M&A EFFECTS

(NON-IFRS)

in EUR millions

10/2023 - 03/2024	10/2022 - 03/2023
17.7	13.3

+34%

RESULT FOR THE PERIOD

in EUR millions

10/2023 - 03/2024	10/2022 - 03/2023
9.9	9.6

+3%

• Sales increase organically by 5% to EUR 256.6 million (Oct 2022 - Mar 2023: EUR 243.4 million; recurring revenues increase by 8%; share of recurring revenues is 55% (Oct 2022 - Mar 2023: 54%)
• Licence revenues (incl. RISE commission) well above the prior-year period
• RISE contracts signed in Q1 already lead to significantly higher order inflow in consulting and CONVERSION/4 in Q2; project wave is visible
• EBIT before M&A effects (non-IFRS) up 34% to EUR 17.7 million; EBIT margin before M&A effects (non-IFRS) increased to 6.9% (Oct 2022 - Mar 2023: 5.4%)
• Number 1 in SAP cloud business: All for One receives »SAP® MEE Award for Partner Excellence 2024« in Cloud Delivery und Customer Value categories
• Annual general meeting approves dividend of EUR 1.45 (distribution quota: 64%)
• 2023/24 outlook confirmed

1 / / H A L F - Y E A R F I N A N C I A L R E P O R T

A L L F O R O N E G R O U P S E

MARKET FOR DIGITALISATION GROWS DESPITE SUBDUED ECONOMIC FORECAST

Economic forecasts for Germany are cautious, with economists expecting only minor growth of 0.2% for 2024, with hopes of a recovery of 1.3% in 2025. Both the International Monetary Fund and leading economic institutes have lowered their forecasts. This uncertainty is exacerbated by global conflicts, economic challenges in China, as well as internal factors such as the Constitutional Court's debt ruling and the costs of the energy transition. Nevertheless, the decline in inflation has stabilised for the time being, with consumer prices remaining unchanged at 2.2% in April, according to a flash estimate by the Federal Statistical Office. Compared to the economy as a whole, the digital industry is much more confident. The digital association Bitkom expects growth rates of 4.8% for IT services in Germany in the current year, while the IT market research company SITSI forecasts 5.2%, driven in particular by topics such as cybersecurity, digital transformation, process optimisation and the switch to the cloud.

LEADER IN THE SAP ENVIRONMENT AND IN THE CLOUD

In the past six months, All for One Group was able to record a pleasing sales performance that has further strengthened its leading position as a provider of SAP services in the DACH region and Poland. Particularly noteworthy is the excellent standing of the Group in the SAP environment, where it is the leading SAP cloud partner in Central Europe. All for One Group also received the »SAP® MEE Award for Partner Excellence 2024« in two categories: Cloud Delivery and Customer Value. In 2023, All for One Group was not only the strongest selling partner for all SAP cloud solutions in Central Europe, but was also recognised in the »Customer Value« category for the quality of its cloud projects and the benefits they bring to customers in their daily business. With the aid of its CON- VERSION/4 model powered by Bluefield™ developed by SNP (Schneider-Neureither & Partner SE, Heidelberg), the company also ranks first among conversion partners around the globe and has successfully migrated more businesses to SAP S/4HANA than any other.

This progress forms a robust basis for All for One Group's growth strategy over the coming years. The early adaption to changes in the market environment, especially to the shift of the SAP portfolio to the cloud and the successful restructuring in the CORE segment have proven to be forward looking steps. The cloud-first approach, the expansion of its portfolio of products and services and its »CON- VERSION/4« migration model are increasingly bearing fruit, which makes it possible to successfully meet the changing requirements of customers.

ALL FOR ONE ALSO OFFERS CUSTOMERS GROW WITH SAP

With the »Grow with SAP« certification, All for One can support SMEs in making a smooth transition to cloud ERP. The offering encompasses products, best practice sup- port, accelerating services, a community and training options to support a customer's smooth transition to SAP S/4HANA Cloud, Public Edition. The certification, based on strict criteria for market maturity is awarded subject to compliance with SAP's strict market maturity and competence status, emphasises All for One's many years of experience as one of the most successful SAP partners world- wide. It guarantees customers predictable, cost-efficient and rapid implementation as well as future-proof scala- bility. SMEs will be able to implement a cloud-based ERP solution with high speed, predictable costs and continuous innovation.

EXPANSION OF TOP MANAGEMENT

Effective 1 November 2023, All for One Group expanded its top management by appointing Ursula Porth as Chief Human Resources Officer (CHRO) and Christian Hopfner as Chief Strategy Officer (CSO). Group Executives Carsten Lange and Ralf Linha assumed additional responsibilities at the same time. Carsten Lange was appointed Chief Commercial Officer (CCO) and Ralf Linha Chief Operating Officer (COO). The strategic expansion of top management aims to help sustainably achieve the Group's objectives with regard to customer orientation, appealing to employees and attracting investor interest. The goal always being to position the Group as an international provider of IT, consulting and services.

INTERNATIONALISATION OF SERVICES AND THE TEAM

All for One Group offers global SAP services and support in cooperation with the global United VARs network, combining global awareness with local comittment through the concept of »think global, act local«. International companies benefit from a single point of contact, contract and service model for SAP application services around the globe enabling round-the-clock support in all time zones and local customisation by local partners with knowledge of the law, customs duties, taxes and culture. This is particularly beneficial for internationally operating midmarket businesses that use globally harmonised SAP systems and want to centralise the servicing of the same.

At the same time, the expansion of the Regional Delivery Centers in Egypt, Poland and Turkey is progressing on schedule. Focus is on consolidation, integration and margin improvement. The team of meanwhile around 700 employees is increasingly being involved in projects and support structures and their incorporation into the organisational structures is progressing.

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A L L F O R O N E G R O U P S E

ANNUAL GENERAL MEETING AGAIN IN PHYSICAL ATTENDANCE

At the annual general meeting on 14 March 2024, the proposals submitted by the board were approved by a large majority of the shareholders. The AGM also adopted a resolution approving the payment of a dividend of 1.45 euros per share, which once again confirms All for One stock as an attractive and dependable security.

SHARE BUYBACK PROGRAMME

On 12 October 2022, All for One Group SE resolved to implement a share buyback programme via the stock exchange valid for the period from 13 October 2022 to 12 October 2023 to repurchase up to 100,000 treasury shares, representing a volume of EUR 5.5 million (excl. transaction-related costs). On 12 October 2023, it was decided to extend the current share buyback programme until 11 October 2024. Under this programme, a total of 79,223 shares with a value of EUR 3.5 million were repurchased up to 31 March 2024.

RESULTS OF OPERATIONS

Sales development

	10/2023 -	10/2022 -
in KEUR	03/2024	03/2023
Cloud services and support (1)		61,627
70,134
Software licences and support (2)		72,114
79,249
Software licences		12,797
18,395
Software support (3)		59,317
60,854
Consulting and services		100,353
97,901
CONVERSION/4 (4)	9,281	9,317
Total	256,565	243,411
Cloud and software revenue (1)+(2)	149,383	133,741
Recurring revenue (1)+(3)+(4)		130,261
140,269

The trend surrounding digitalisation, cloud transformation and the need for customers to migrate to SAP S/4HANA is steadily increasing. Given its outstanding position in the SAP environment and the optimisations and improvements that were put in place last year, the Group is expected to reap above-average benefits from a growing market for IT consulting and services.

In the first six months of 2023/24, Group sales revenues of EUR 256.6 million were 5% higher than the prior-year figure of EUR 243.4 million. After a very strong 1st quarter with non-recurring commission income from cloud-based SAP S/4HANA solutions (RISE), the 2nd quarter was characterised by a certain restraint in some areas. Neverthe- less, numerous new customers were acquired in the 2nd quarter and contracts were signed for conversions, which will be implemented in the coming quarters. Recurring

revenues, which are easier to budget, increased by 8%. The continuing trend towards the cloud is particularly evident in the cloud services and support revenues (plus 14% to EUR 70.1 million), whereas software support sales increased only slightly to EUR 60.9 million (plus 3%). Sales associated with the CONVERSION/4 service model remained constant at EUR 9.3 million (Oct 2022 - Mar 2023: EUR 9.3 million) due to some project postpone- ments. Together, these recurring revenues of EUR 140.3 million account for 55% (Oct 2022 - Mar 2023: 54%) of total sales.

Licence revenues (incl. RISE commission) continue to exceed expectations, increasing to EUR 18.4 million (plus 44%) in the half-year period 2023/24. As these reflect the growing demand from new and existing customers for cloud-based SAP S/4HANA solutions (RISE), they should continue to develop positively in the 2nd half of the year. Due to weaker capacity utilisation in the LOB segment, consulting and services revenues declined by 2% (Oct 2022 - Mar 2023: EUR 100.4 million).

Earnings performance

	10/2023 -	10/2022 -
in KEUR	03/2024	03/2023
Sales revenue	256,565	243,411
Cost of materials and purchased
services	-92,160	-86,882
Personnel expenses	-117,195	-115,292
Depreciation, amortisation and
impairment on intangible, fixed and
right-of-use assets	-13,624	-14,440
Impairment losses on financial assets	27	-230
Other operating expenses/income	-18,800	-13,217
EBIT	14,813	13,350
Financial result	-634	-1,161
EBT	14,179	12,189
Income tax	-4,321	-2,584
Result for the period	9,858	9,605

The cost of materials and purchased services rose by 6% to EUR 92.2 million in line with sales. In addition, the higher cost of materials is a result of the increased use of external consulting resources (»freelancers«) from All for One's partner network as well as higher licence sales. The cost of materials ratio remains unchanged at 36%.

Personnel expenses increased overall by 2% to EUR 117.2 million, while the ratio of personnel expenses to sales improved from 47% to 46%. The increase in other operating expenses and income to EUR 18.8 million (plus 42%) was mainly attributable to the absence of other acquisition- related income following the early increase of the stake in All for One Poland in the prior year.

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A L L F O R O N E G R O U P S E

Reconciliation to EBIT before M&A effects (non-IFRS)

	10/2023 -	10/2022 -
in KEUR	03/2024	03/2023
Earnings before interest and taxes
(EBIT)	14,813	13,350
+ impairment of goodwill	0	0
+ acquisition-related depreciation,
amortisation and impairment on other
intangible assets	2,895	3,190
+/- other acquisition-related expenses
(and income)	0	-3,284
EBIT before M&A effects (non-IFRS)		13,256
17,708

In the first six months of 2023/24, EBIT before M&A effects (non-IFRS) increased significantly by 34% to EUR 17.7 million (Oct 2022 - Mar 2023: EUR 13.3 million). The corresponding EBIT margin before M&A effects (non-IFRS) was 6.9% (Oct 2022 - Mar 2023: 5.4%). In the same period, EBIT increased by 11% and totalled EUR 14.8 million. At 5.8%, the EBIT margin is above the prior year level (Oct 2022 - Mar 2023: 5.5%).

At minus EUR 0.6 million, the financial result for the 6- month period 2023/24 was better than the prior-year period (Oct 2022 - Mar 2023: minus EUR 1.2 million), despite a higher volume of promissory notes issued at higher financing interest rates due to rising interest in- come. EBT totalled EUR 14.2 million (plus 16%). At EUR 4.3 million (Oct 2022 - Mar 2023: EUR 2.6 million), income taxes were significantly higher than the previous year, which was influenced by tax differences relating to the acquisition of the shares in All for One Poland. The result for the period increased by 3% to EUR 9.9 million and earnings per share by 4% to EUR 1.98.

Sales revenue and earnings performance by segment

	CORE	LOB
in KEUR	10/2023 -	10/2022 -	10/2023 -	10/2022 -
03/2024	03/2023 ¹	03/2024	03/2023 ¹
Statement of
profit and loss
External sales
revenue	224,008	209,318	32,557	34,093
Intersegment
revenue	3,123	3,565	5,076	6,120
Sales revenue	227,131	212,883	37,633	40,213
Segment EBIT
(EBIT before
M&A effects
(non-IFRS))	14,625	8,630	3,094	4,634
Segment EBIT
margin before
M&A effects
(non-IFRS) (in %)	6.4	4.1	8.2	11.5

1) Prior-year figures adjusted

Backed by a solid order pipeline, sales in the CORE (ERP and collaboration solutions) increased by 7% to EUR 227.1 million over the 6-month period 2023/24. The strong growth in cloud business made a major contribution to this increase. EBIT before M&A effects (non-IFRS) in the CORE segment increased by 69% to EUR 14.6 million following the successful completion of a restructuring programme and the unusualy strong licence business (incl. RISE commission) in the 1st quarter 2023/24. The EBIT margin before M&A effects (non-IFRS) was 6.4%.

The LOB (Lines of Business) segment offers additional growth and margin potential through recurring cloud subscriptions and the Group's own add-on solutions.

Capacity utilisation in the LOB (lines of business) segment, especially in consulting, fell short of expectations due to the current stronger focus of customers on the urgently needed conversion in the core system ERP. LOB segment sales decreased by 6% to EUR 37.6 million. EBIT before M&A effects (non-IFRS) was EUR 3.1 million. The seg- ment's EBIT margin before M&A effects (non-IFRS) of 8.2% (Oct 2022 - Mar 2023: 11.5%) is lower than the prior-year level.

ASSETS AND FINANCIAL POSITION

Assets position

The balance sheet total as of 31 March 2024 declined by 6% to EUR 321.6 million (30 Sep 2023: EUR 341.7 million). Accordingly, assets decreased in value by EUR 20.0 million. In particular, cash and cash equivalents fell by minus EUR 19.7 million to EUR 42.9 million. This resulted from bonus and severance payments, the distribution of the dividend and final purchase price payments from past transactions. Trade receivables increased by a total of EUR 4.9 million.

Liabilities amounted to EUR 219.2 million (30 Sep 2023: EUR 241.6 million) as of 31 March 2024, down by 9%. Trade payables decreased by EUR 6.5 million and liabilities to employees (prior-year bonuses and severance payments from restructuring) by EUR 11.5 million to EUR 22.2 million. Other liabilities decreased by minus 29% to EUR 13.5 million due to final purchase price payments from past transactions.

Equity increased by 2% to EUR 102.4 million, while the equity ratio increased to 32% (30 Sep 2023: 29%). Net debt now amounts to EUR 79.0 million (30 Sep 2023: EUR 58.6 million).

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A L L F O R O N E G R O U P S E

Financial position

Cash flow from operating activities decreased to EUR 5.0 million (Oct 2022 - Mar 2023: EUR 11.4 million). This was predominantly due to higher cash outflows for trade payables (minus EUR 12.6 million) compared to the prior-year period.

Cash flow from investing activities totalled minus EUR 6.4 million (Oct 2022 - Mar 2023: minus EUR 17.8 million). The cash outflows in the prior year included in particular higher payments from the purchase of the outstanding stake in All for One Poland.

Cash flow from financing activities amounted to minus EUR 17.6 million (Oct 2022 - Mar 2023: minus EUR 16.9 million). This was primarily attributable to the repayment of lease liabilities (EUR 7.5 million), the payment of the dividend and to payments relating to the share buyback programme

Cash funds totalled EUR 42.7 million as of 31 March 2024 (31 Mar 2023: EUR 53.7 million).

EMPLOYEES

	10/2023 -	10/2022 -
	03/2024	03/2023
Employees
Number of employees (period end)	2,786	2,820
Number of full-time equivalents (∅)		2,511
2,505
Non-financial performance
indicators
Employee retention (in %)	90.0	90.1
Health index (in %)		96.0
96.0

The IT sector continues to suffer from a shortage of specialists. For the Group, sustained business success is closely linked to highly qualified employees, which is why it is continuing to invest more in recruiting, developing and retaining staff. The Regional Delivery Centers in Poland, Turkey and Egypt provide key support for upholding and further enhancing the quality and speed of customer support.

At 90.0%, employee retention is roughly at the prior year level and All for One Group believes it to be below the industry average. The effects of the seasonal wave of illness are reflected in the health index of 96.0%, which is on a par with the prior year.

CORPORATE GOVERNANCE

We consistently compare the latest recommendations issued by the German government's commission for the German Corporate Governance Code (»GCGC«) with our everyday corporate governance practices. As explained in our declaration of compliance dated 27 September 2023, we have adopted the recommendations of the GCGC apart from the exceptions explained in our declaration with regard to the compensation system for the management board, the chairman of the supervisory board's audit committee and the explanation of the implementation of the CSR directive. The declaration of compliance is available for download at www.all-for-one.com/governance_e. The compensation system was approved by the annual general meeting on 11 March 2021 and the compensation report for financial year 2022/23 was approved on

14 March 2024 (for more details of the compensation system and the compensation report, please see www.all- for-one.com/governance_e). Our declaration of conformity for the current year is planned for September 2024. For details of directors' dealings in the reporting period, please refer to our website (www.all-for-one.com/dd_e).

OPPORTUNITIES AND RISK REPORT

The combined management report for financial year 2022/23 includes a detailed opportunities and risk report that discusses certain risks that could adversely impact the net assets, financial position and results of operations of All for One Group. The main opportunities for All for One Group are also discussed.

All for One Group is currently planning further measures to standardise and automate its internal processes in order to continue to adequately counter its »operational risks«. This relates in particular to the expansion of uniform Group-wide systems for processing personnel data. The optimisation of the processes set up in the People & Culture department is intended to counteract »risks associated with human resources« in particular. All for One Group is facing growing challenges as a result of its advancing international orientation. In line with a cautious evaluation approach, the probability of occurrence of the »risks associated with human resources« has been increased from »medium« to »high« as of 31 March 2024. This means that the risk category of »risks associated with human resources« has changed from »medium« to »high« compared to the annual report 2022/23.

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A L L F O R O N E G R O U P S E

All for One Group adheres to the overall evalutation of the respective individual risks as discussed in the annual report 2022/23 (see section »Opportunities and risk report«). Additional risks, which are currently unknown or considered immaterial, could influence All for One Group's business performance. At present, however, no risks have been identified that could jeopardise the continued existence of the All for One Group, either individually or in combination with other risks.

OUTLOOK

The management board is holding firm to its guidance for financial year 2023/24. As things stand at present, and presuming a continued robust and steady stream of incoming orders and a stable and broad customer base, the excellent position of the Group in the SAP environment, and based on the growth rates predicted for the IT consulting and services market, the management board of All for One Group expects sales to be between EUR 505 million and EUR 525 million in financial year 2023/24 (2022/23: EUR 488 million). EBIT before M&A effects (non-IFRS) is predicted to be in a range between EUR 32 million and EUR 36 million (2022/23: EUR 17.7 million).

In light of the global uncertainty prevailing in the markets, it is again difficult at present to offer a medium-term out- look. All for One Group is budgeting for robust organic sales growth over the coming years in the mid-single-digit percentage range (depending on future inflation levels, among other things) that will be supplemented by inorganic growth in areas of the portfolio offering future promise. The Group expects EBIT before M&A effects (non-IFRS) to range between 7% and 8% of sales revenues in financial year 2024/25.

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A L L F O R O N E G R O U P S E

CONSOLIDATED STATEMENT OF PROFIT AND LOSS

OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 31 MARCH 2024

	10/2023 -	10/2022 -	01/2024 -	01/2023 -
in KEUR	03/2024	03/2023	03/2024	03/2023
Sales revenue		243,411		122,978
256,565	122,812
Other operating income		7,380		2,409
2,446	858
Cost of materials and purchased services		-86,882		-42,654
-92,160	-42,405
Personnel expenses		-115,292		-59,828
-117,195	-59,196
Depreciation, amortisation and impairment on intangible, fixed and right-of-
use assets	-13,624	-14,440	-6,785	-7,307
Impairment losses on financial assets		-230		-148
27	87
Restructuring expenses	0	0	0	0
Other operating expenses	-21,246	-20,597	-10,106	-9,802
EBIT		13,350		5,648
14,813	5,265

Financial income

Financial expense

Financial result

688	100	315	50
	-1,322	-1,261	-687	-636
		-1,161		-586
	-634	-372

EBT

14,179

12,189

4,894

5,062

Income tax	-4,321	-2,584	-1,692	-1,483
Result for the period	9,858	9,605	3,202	3,579
attributable to owners of the parent		9,510		3,546
9,762	3,141
attributable to non-controlling interests		95		33
95	61

Earnings per share

Undiluted and diluted earnings per share (in EUR)

1.98

1.91

0.64

0.71

CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME

OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 31 MARCH 2024

in KEUR

Result for the period

	10/2023 -	10/2022 -	01/2024 -	01/2023 -
	03/2024	03/2023	03/2024	03/2023
		9,605		3,579
	9,858	3,202

Items that might be reclassified to profit or loss in subsequent periods

Unrealised profits (+) / losses (-) from currency translation	1,866	307	-862	-233

Other comprehensive income

1,866

307

-862

-233

Total comprehensive income	11,724	9,912	2,340	3,346
attributable to owners of the parent		9,823		3,320
11,651	2,299
attributable to non-controlling interests		89		26
73	41

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A L L F O R O N E G R O U P S E

CONSOLIDATED BALANCE SHEET

OF ALL FOR ONE GROUP

AS OF 31 MARCH 2024

Assets

in KEUR

Current assets

Cash and cash equivalents

Finance lease receivables

Trade receivables

Contract assets

Income tax assets

Other assets

Non-current assets

Goodwill

Other intangible assets

Fixed assets

Right-of-use assets

Finance lease receivables

Deferred tax assets

Other assets

Total assets

	31.03.2024		30.09.2023
	42,937		62,587
		4,205
	4,790
			61,658
	66,549
		11,030
	9,242
			2,910
	2,096
		19,937
	17,996
		162,326
	143,610
	68,190	66,784
	29,868	32,836
	16,152	17,322
	44,337	44,487
	9,312	7,167

691645

9,444 10,084

	177,994		179,325
	321,604	341,652

Equity and liabilities

in KEUR

Current liabilities

Other provisions

Liabilities to financial institutions

Lease liabilities

Trade payables

Contract liabilities

Liabilities to employees

Income tax liabilities

Other liabilities

Non-current liabilities

Pension provisions

Other provisions

Liabilities to financial institutions

Lease liabilities

Deferred tax liabilities

Other liabilities

	31.03.2024		30.09.2023
	2,292		4,068
	4,026		4,034
	14,243		13,316
	23,838		30,369
	13,481		12,083
	22,193		33,714
	4,060		3,776
	12,684		17,173
	96,817		118,533
	1,219	1,287

760757

73,373 73,360

30,337 30,451

	15,871		15,463
	793	1,755
	122,353	123,073

Equity
Issued capital	14,946	14,946
Reserves	90,708	86,170
Treasury shares		-1,373
-3,502
Share of equity attributable to owners of the parent		99,743
102,152
Non-controlling interests		302
282
		100,045
	102,434
Total liabilities and equity	321,604	341,652

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A L L F O R O N E G R O U P S E

CONSOLIDATED CASH FLOW STATEMENT

OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 31 MARCH 2024

	10/2023 -	10/2022 -
in KEUR	03/2024	03/2023
Result for the period		9,605
9,858
Income tax		2,584
4,321
Financial result	634	1,161
Depreciation, amortisation and impairment on intangible, fixed and right-of-use assets	13,624	14,440
Increase (+) / decrease (-) in value adjustments and provisions	-1,917	-105
Gains (-) / losses (+) from the disposal of non-current assets		-1,018
-46
Increase (-) / decrease (+) in trade receivables		-724
-4,263
Increase (+) / decrease (-) in trade payables	-6,745	5,822
Increase / decrease in other assets and liabilities		-16,472
-8,835
Interest received		92
701
Income tax refunds (+) / payments (-)		-3,960
-2,305
Cash flow from operating activities		11,425
5,027
Payments for purchase of intangible and fixed assets	-752	-7,801
Proceeds from sale of intangible assets and fixed assets	60	1,278
Purchase of subsidiary, net of cash and cash equivalents acquired	-5,734	-11,279
Cash flow from investing activities	-6,426	-17,802
Repayment of lease liabilities	-7,542	-7,736
Repayment of liabilities to financial institutions		-18
-16
Payments for share buyback programme		-1,000
-1,900
Interest paid		-882
-962
Dividend payments to shareholders and non-controlling interests		-7,294
-7,206
Cash flow from financing activities		-16,930
-17,626

Increase (+) / decrease (-) in cash and cash equivalents

-19,025

-23,307

Effect of exchange rate fluctuations on cash funds

Cash funds at start of period

Cash funds at end of period

	-24	-202
		77,201
	61,797
		53,692
	42,748

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A L L F O R O N E G R O U P S E

CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

OF ALL FOR ONE GROUP

FROM 1 OCTOBER 2023 TO 31 MARCH 2024

							Non-	Equity
							controlling
	Share of equity attributable to owners of the parent	interests
	Issued		Currency
in KEUR	share	Capital	translation	Retained	Treasury	Total
capital	reserve	reserve	earnings	shares
01.10.2022	14,946	11,228	664	70,858	0	97,696	251	97,947
Result for the period	0	0	0	9,510	0	9,510	95	9,605
Other comprehensive
income	0	0	313	0	0	313	-6	307
Total comprehensive
income	0	0	313	9,510	0	9,823	89	9,912
Dividend distribution	0	0	0	-7,204	0	-7,204	0	-7,204
Acquisition of treasury
shares	0	0	0	0	-607	-607	0	-607
Distribution to non-
controlling interests	0	0	0	0	0	0	-90	-90
Transactions with owners	0	0	0	-7,204	-607	-7,811	-90	-7,901
of the company
31.03.2023	14,946	11,228	977	73,164	-607	99,708	250	99,958

01.10.2023	14,946	11,228	1,509	73,434	-1,373	99,743	302	100,045
Result for the period	0	0	0	9,762	0	9,762	96	9,858

Other comprehensive
income	0	0	1,888	0	0	1,888	-22	1,866

Total comprehensive
income	0	0	1,888	9,762	0	11,650	74	11,724
Dividend distribution	0	0	0	-7,112	0	-7,112	0	-7,112

Acquisition of treasury
shares		0	0	0	0	-2,129	-2,129	0	-2,129
Distribution to non-
controlling interests	0	0	0	0	0	0	-94	-94

Transactions with owners	0	0	0	-7,112	-2,129	-9,241	-94	-9,335
of the company
31.03.2024	14,946	11,228	3,396	76,084	-3,502	102,152	282	102,434

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