Press release
Interim Report January-June 2022
Growth of 14.8 per cent and start of operations in the UK
| Second quarter Net sales rose 14.8 per cent to MSEK 751 (655), of which organic growth was -1.1 per cent. Adjusted EBITA amounted to MSEK 48 (51) and the adjusted EBITA margin amounted to 6.4 per cent (7.8). EBITA increased to MSEK 45 (37) and the EBITA margin amounted to 6.0 per cent (5.6). Operating profit (EBIT) increased to MSEK 44 (37) and the operating margin amounted to 5.9 per cent (5.6). Profit for the period increased to MSEK 29 (18). Earnings per share before and after dilution amounted to SEK 0.60 (0.57). Cash flow from operating activities amounted to MSEK -36 (-16). |
January – June Net sales rose 26.8 per cent to MSEK 1,377 (1,086), of which organic growth was 5.7 per cent. Adjusted EBITA increased 7.0 per cent to MSEK 76 (71) and the adjusted EBITA margin amounted to 5.5 per cent (6.5). EBITA increased to MSEK 67 (57) and the EBITA margin amounted to 4.9 per cent (5.3). Operating profit (EBIT) increased to MSEK 66 (57) and the operating margin amounted to 4.8 per cent (5.3). Profit for the period increased to MSEK 44 (37). Earnings per share before and after dilution amounted to SEK 0.93 (1.13). Cash flow from operating activities amounted to MSEK -120 (2). Net debt amounted to MSEK 622 (563) and net debt/adjusted EBITDA R12M to 2.6 (2.8). The order backlog was MSEK 3,408 (3,453). |
Significant events during and after the second quarter
- Netel has entered the growing UK infrastructure market by making two acquisitions with total annual sales of MSEK 118 at the time of the acquisitions.
- Netel has to today’s date so far this year carried out six acquisitions with total annual sales of MSEK 440 at the time of the acquisitions.
Web casted presentation with conference call
A webcasted presentation where CEO Ove Bergkvist and CFO Peter Andersson present the report will take place today at 09:00 a.m. CEST. You can ask question via the web or call to listen to the presentation and ask questions.
Webcast:
https://tv.streamfabriken.com/netel-group-q2-2022
Dial-in numbers:
Sweden +46850516386
UK +442031984884
US +14123176300
Pin code for all numbers 0253177#
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 next report will be published 9 November, 07:30 a.m. CET.
Contacts
Ove Bergkvist, CEO +46 (0) 73 337 09 37, ove.bergkvist@netel.se
Peter Andersson, CFO +46 (0) 73 842 36 90, peter.andersson@netel.se
Åse Lindskog, IR +46 (0) 73 024 48 72, ase@lindskogphilipson.se
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 2.4 billion in 2021 and has approximately 660 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 and the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2022-08-25 07:30 CEST.