Norva24 Group AB (publ) ("Norva24" or the "Company") announces certain preliminary financial information for 1 January to 31 January 2025. The preliminary financial information is categorized by country, as outlined below:
Sweden
Operating revenue for 1 January to 31 January 2025 amounted to NOK 43.3 million (40.1 million), adjusted EBITA amounted to NOK 0.1 million (1.8 million) and EBITA margin amounted to 0.2 percent (4.4 percent) for the same period. The preliminary financial information shows an increased post-Christmas growth, mainly driven by acquisition and good activity within relining. High sick leave and fewer working days in the month negatively affected the margin.
Norway
Operating revenue for 1 January to 31 January 2025 amounted to NOK 83.7 million (81.5 million), the preliminary adjusted EBITA amounted to NOK 1.0 million (3.7 million) and the preliminary EBITA margin amounted to 1.2 percent (4.5 percent) for the same period. The preliminary financial information shows an increased year-over-year growth in operating revenue due to new contracts and good activity in some large entities, but also a slowdown in adjusted EBITA due to higher maintenance costs and slow performance in the eastern parts of Norway. Fewer working days in the month negatively affected the EBITA margin.
Denmark
Operating revenue for 1 January to 31 January 2025 amounted to NOK 49.5 million (30.3 million), adjusted EBITA amounted to NOK -1.5 million (0.3 million) and EBITA margin amounted to -3.0 percent (1.0 percent) for the same period. The preliminary financial information shows continued operational improvement in the organic business, while the off-season for NPG resulted in a lower margin compared to same period last year. Fewer working days in the month negatively affected the EBITA margin.
Germany
Operating revenue for 1 January to 31 January 2025 amounted to NOK 88.3 million (72.6 million), adjusted EBITA amounted to NOK -2.8 million (-6.7 million) and adjusted EBITA margin amounted to -3.1 percent (-9.2 percent) for the same period. Good growth and margin improvement compared to same period last year, driven by most entities. Fewer working days in the month negatively affected the EBITA margin.
Upcoming financial report
The figures presented are preliminary and have not been reviewed by the Company's auditors. Norva24's financial report for the first quarter of 2025 will be announced on 13 May 2025.
For further information contact:
Stein Yndestad, Group CFO
Tel: +47 91686696
E-mail: stein.yndestad@norva24.com
About Norva24
Norva24 is the leading northern European player in the UIM industry[1] and offers UIM services, such as emptying services, pressure flushing and pipe services. On September 30, 2024, the company operated more than 80 branches[2] in Norway, Germany, Sweden, and Denmark, with approximately 2,000 employees. The company's history dates back to 1919 and Norva24 has since evolved from a company with Norwegian roots to being a market leader in UIM services in Norway, Germany, Sweden and Denmark. Norva24 has a history of completing acquisitions to enter new markets or to consolidate its local market position, taking advantage of the highly fragmented UIM market in Europe, which is characterized by mostly small, local companies. In its four markets, the company has conducted more than 50 acquisitions since 2015.
www.norva24.com.
[1] Measured in revenue.
[2] The term "branch" refers to places of business in various locations in which the company conducts its operations.
For further information contact:
Stein Yndestad, Group CFO
Tel: +47 91686696
E-mail: stein.yndestad@norva24.com
About Norva24
Norva24 is the leading northern European player in the UIM industry[1] and offers UIM services, such as emptying services, pressure flushing and pipe services. On December31, 2024, the company operated more than 80 branches[2] in Norway, Germany, Sweden, and Denmark, with approximately 2,000 employees. The company's history dates back to 1919 and Norva24 has since evolved from a company with Norwegian roots to being a market leader in UIM services in Norway, Germany, Sweden and Denmark. Norva24 has a history of completing acquisitions to enter new markets or to consolidate its local market position, taking advantage of the highly fragmented UIM market in Europe, which is characterized by mostly small, local companies. In its four markets, the company has conducted more than 50 acquisitions since 2015.
www.norva24.com.
[1] Measured in revenue.
[2] The term "branch" refers to places of business in various locations in which the company conducts its operations.
This information is information that Norva24 Group 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 2025-03-10 07:36 CET.
