Organic growth of 3.9 per cent and improved EBITA
First quarter
Net sales rose 4.5 per cent to MSEK 714 (684), of which organic growth was 3.9 per cent.
Adjusted EBITA increased to MSEK 14 (11), with an adjusted EBITA margin of 2.0 per cent (1.6).
EBITA improved to MSEK 12 (-3), with an EBITA margin of 1.7 per cent (-0.4).
Loss for the period amounted to MSEK -8 (-9).
Earnings per share before and after dilution amounted to SEK -0.17 (-0.18)
Cash flow from operating activities amounted to MSEK -89 (8).
Net debt amounted to MSEK 738 (789) and net debt/adjusted EBITDA to 3.1 (3.2).
The order backlog increased to MSEK 3,836 (3,750).
Significant events during the first quarter
New reporting structure that reflects the new organisational structure.
Nett-Tjenester expanded its partnership with Elvia through a new framework agreement totalling approximately MNOK 120.
Eltek signed a contract with Siemens Energy for modernising and expanding Svenska Kraftnät's substation.
Fredrik Helenius appointed the new CFO.
Webcast presentation and teleconference
Jeanette Reuterskiöld, President and CEO, and Fredrik Helenius, CFO, will present the interim report on Friday, 26 April at 9:00 a.m. CEST in a webcast. Questions may be asked both online and by phone. Presentation material is also available at https://netelgroup.com/en/investors/reports-and-presentations/. The presentation will be held in English.
If you want to participate through the webcast, use the link https://ir.financialhearings.com/netel-group-q1-report-2024. It will be possible to submit written questions during the webcast. If you want to ask questions orally via teleconference, please register through the link https://conference.financialhearings.com/teleconference/?id=50048839. After registration, you will receive a telephone number and ID to log in to the conference. It will be possible to ask questions orally during the teleconference.
Interim reports on www.netelgroup.com
The complete interim report and previous reports are available on https://netelgroup.com/en/investors/reports-and-presentations/.
Next report
The second quarter report 2024 will be published 12 July, 07:30 a.m. CEST.
Contacts
Jeanette Reuterskiöld, President and CEO, +46 (0) 702 28 03 89, jeanette.reuterskiold@netel.se
Fredrik Helenius, CFO, +46 (0) 730 85 52 86, fredrik.helenius@netel.se
Åse Lindskog, IR, +46 (0) 730 24 48 72, ase.lindskog@netelgroup.com
About Us
Netel is a leading specialist in critical infrastructures in Northern Europe. We have over 20 years of experience in carrying out projects as well as services and maintenance for the industry's largest players in power, telecommunications, heating as well as water and sewage. We have a clear strategy for organic growth and acquisitions based on an efficient business model that is characterized by decentralization, low capital tied up and high cash conversion. Our business is based on a solid sustainability approach with intense responsibility for the environment and work safety. Netel had sales of more than SEK 3.4 billion in 2023 and has over 850 employees. Read more at www.netelgroup.com.
This information is information that Netel Holding AB (publ) 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 2024-04-26 07:30 CEST.
