Netel Holding AB: Financial performance in line with normal seasonal variations and growth with both new customers and geographies

First quarter
Continuing operations¹
· Net sales increased 2.7 per cent to MSEK 694 (676), of which organic growth was 2.7 per cent
· Adjusted EBITA amounted to MSEK 20 (19), with an adjusted EBITA margin of 2.9 per cent (2.8)
· EBITA amounted to MSEK 14 (17), with an EBITA margin of 2.0 per cent (2.5)
· Operating profit (EBIT) amounted to MSEK 12 (16), with an operating margin of 1.7 per cent (2.3)
· Loss for the period amounted to MSEK -4 (-3)
· Earnings per share for continuing operations before and after dilution amounted to SEK -0.08 (-0.05)
· Earnings per share including discontinuing operations before and after dilution amounted to SEK -0.17 (-0.17)
· Cash flow from operating activities amounted to MSEK -29 (-57)
· Net debt excluding lease liabilities amounted to MSEK 721 (645) and net debt excluding lease liabilities/adjusted EBITDA amounted to 3.0 (2.6)
· Order backlog increased to SEK 4.0 (3.3) billion

Significant events during the first quarter
· Decision announced to sell the Finnish operations. In this financial report, the Group excluding the Finnish operations is reported as continuing operations and the operations in Finland as discontinuing operations.
· New framework agreement in Infraservices with Norrköping Municipality for installation and maintenance of road lighting.
· New two-year framework agreement in Telecom for installation, service and maintenance of Tele2's broadband network in Sweden.
· Agreement in Power with Norwegian power company Glitre Nett for expansion of a transformer station.

Important events after the end of the quarter
· New framework agreement in Power with the Norwegian power company Glitre Nett Sør.
· New framework agreements in Infraservices with the municipalities of Järfälla and Sigtuna.

Revised financial targets
· The Board has revised the financial targets. The revised financial targets are annual organic growth
of 3-5 per cent and annual adjusted EBITA margin of 5-7 per cent. The target for capital structure remains unchanged.

¹ Continuing operations refer to the Group excluding the Finnish operations.

Webcast presentation and teleconference
Jeanette Reuterskiöld, President and CEO, and Fredrik Helenius, CFO, will present the interim report on Friday, 25 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://netel-group.events.inderes.com/q1-report-2025. 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.inderes.com/teleconference/?id=5003909. 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 2025 will be published 11 July 2025, 07:30 a.m. CEST.

About us

With 25 years of experience, Netel is a leader in the development and maintenance of critical infrastructure within Infraservices, Power and Telecom in Northern Europe. We are involved in the entire value chain from design, production and maintenance of our customers' facilities. We are dedicated to securing an accessible and reliable future, where technology unites and transforms society. Netel reported net sales of SEK 3,300 million in 2024 and the number of employees in the group is about 840. Netel is listed on Nasdaq Stockholm since 2021. Read more at netelgroup.com.

Contacts

Jeanette Reuterskiöld, President and CEO, [phone], [e-mail]
Fredrik Helenius, CFO, [phone], [e-mail]
Åse Lindskog, IR, [phone], [e-mail]

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 2025-04-25 07:30 CEST.