Press release
Organic growth of 7.7 per cent driven by favourable development across all divisions
Second quarter
Net sales increased 7.7 per cent to MSEK 927 (861) with organic growth of 7.7 per cent.
Adjusted EBITA increased 7.3 per cent to MSEK 44 (41), with an adjusted EBITA margin of 4.8 per cent (4.7).
EBITA increased 30.0 per cent to MSEK 39 (30) and the EBITA margin improved to 4.2 per cent (3.4).
Operating profit (EBIT) increased 27.6 per cent to MSEK 37 (29), with an operating margin of 4.0 per cent (3.3).
Profit for the period increased 267 per cent to MSEK 11 (3).
Earnings per share before and after dilution increased 214 per cent to SEK 0.22 (0.07).
Cash flow from operating activities increased 31.0 per cent to MSEK 38 (29).
January-June
Net sales increased 6.3 per cent to MSEK 1,641 (1,544) with organic growth of 6.0 per cent.
Adjusted EBITA increased 13.7 per cent to MSEK 58 (51), with an adjusted EBITA margin of 3.6 per cent (3.3).
EBITA increased 88.9 per cent to MSEK 51 (27) and the EBITA margin improved to 3.1 per cent (1.7).
Operating profit (EBIT) increased 92.0 per cent to MSEK 48 (25), with an operating margin of 2.9 per cent (1.6).
Profit/loss for the period increased to MSEK 2 (-6).
Earnings per share before and after dilution increased to SEK 0.05 (-0.12).
Cash flow from operating activities was MSEK -51 (37).
Net debt decreased to MSEK 756 (788) and net debt/adjusted EBITDA amounted to 3.1 (3.2).
The order backlog increased to MSEK 4,194 (3,976).
Significant events during the second quarter
New three-year NOK 0.9–1.2 billion framework agreement with Telenor in Norway covering operation, maintenance and expansion of fibre networks.
Contract signed with UGG in Germany for fibre roll-out valued at MEUR 10.
Webcast presentation and teleconference
Jeanette Reuterskiöld, President and CEO, and Fredrik Helenius, CFO, will present the interim report on Friday, 12 July 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-q2-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=50048840. 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 third quarter report 2024 will be published 25 October, 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
| With over 20 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 3,500 million in 2023 and the number of employees in the group is about 860. Netel is listed on Nasdaq Stockholm since 2021. Read more at 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 2024-07-12 07:30 CEST.