Press release
Interim Report January-September 2022
Growth of 26.9 per cent and continued expansion to new attractive markets
| Third quarter – Net sales rose 26.9 per cent to MSEK 779 (614), of which organic growth was 4.9 per cent. – Adjusted EBITA amounted to MSEK 49 (40) and the adjusted EBITA margin amounted to 6.3 per cent (6.5). – EBITA increased to MSEK 43 (33) and the EBITA margin rose to 5.6 per cent (5.3). – Operating profit (EBIT) increased to MSEK 42 (33) and the operating margin amounted to 5.4 per cent (5.3). – Profit for the period increased to MSEK 31 (21). – Earnings per share before and after dilution rose to SEK 0.66 (0.60). – Cash flow from operating activities amounted to MSEK 7 (-49). |
January – September – Net sales rose 26.8 per cent to MSEK 2,157 (1,701), of which organic growth was 5.4 per cent. – Adjusted EBITA increased to MSEK 125 (111) and the adjusted EBITA margin amounted to 5.8 per cent (6.5). – EBITA increased to MSEK 111 (90) and the EBITA margin amounted to 5.1 per cent (5.3). – Operating profit (EBIT) increased to MSEK 108 (90) and the operating margin amounted to 5.0 per cent (5.3). – Profit for the period increased to MSEK 75 (57). – Earnings per share before and after dilution amounted to SEK 1.58 (1.67). – Cash flow from operating activities amounted to MSEK -114 (-47). – Net debt amounted to MSEK 692 (624) and net debt/adjusted EBITDA R12M to 2.7 (2.9). – The order backlog was MSEK 3,257 (3,429). |
Significant events during and after the third quarter
– Entered the growing UK market through two acquisitions
– Expanded operations into northern Sweden through the acquisition of Bredbyns
– Seven acquisitions completed to date this year with total annual sales of MSEK 497 at the time of the acquisitions
– UK reported as a new operating segment
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. CET. You can ask question via the web or call to listen to the presentation and ask questions.
Webcast:
https://ir.financialhearings.com/netel-group-q3-2022
Dial-in numbers:
Sweden +46856642704
UK +443333009267
USA +16467224903
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 year-end and fourth quarter report will be published 16 February 2023, 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 750 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 2022-11-09 07:30 CET.