Press release
Strong cash flow and continued high order backlog
Third quarter
Net sales increased 0.3 per cent to MSEK 893 (890), of which organic growth was 0.3 per cent
Adjusted EBITA amounted to MSEK 47 (50), with an adjusted EBITA margin of 5.3 per cent (5.6)
EBITA amounted to MSEK 36 (46), with an EBITA margin of 4.1 per cent (5.2)
Operating profit (EBIT) amounted to MSEK 34 (45), with an operating margin of 3.9 per cent (5.1)
Profit for the period amounted to MSEK 8 (13)
Earnings per share before and after dilution amounted to SEK 0.17 (0.27)
Cash flow from operating activities increased to MSEK 47 (2)
January-September
Net sales increased 4.1 per cent to MSEK 2,534 (2,434) with organic growth of 3.9 per cent
Adjusted EBITA increased 5.0 per cent to MSEK 106 (101) with an adjusted EBITA margin of 4.2 per cent (4.1)
EBITA increased 19.2 per cent to MSEK 87 (73) and the EBITA margin improved to 3.4 per cent (3.0)
Operating profit (EBIT) increased to 17.1 per cent and amounted to MSEK 82 (70), with an operating margin of 3.2 per cent (2.9)
Profit for the period increased 45.7 per cent to MSEK 11 (7).
Earnings per share before and after dilution rose 46.7 per cent to SEK 0.22 (0.15)
Cash flow from operating activities amounted to MSEK -4 (39)
Net debt declined to MSEK 757 (798) and net debt/adjusted EBITDA amounted to 3.2 (3.2)
The order backlog was MSEK 4,019 (4,104)
Significant events during the third quarter
Climate targets submitted to the Science Based Targets Initiative (SBTi) for validation in the autumn.
Significant events after the end of the third quarter
Contract with Green Mountain Data Centers in Norway for installation of power systems in the data center in Enebakk.
Indication 2024
The adjusted EBITA margin for the full year 2024 is expected to be in line with 2023 and low net sales growth is expected for the full year 2024. The financial targets are expected to be reached in the medium term.
Webcast presentation and teleconference
Jeanette Reuterskiöld, President and CEO, and Fredrik Helenius, CFO, will present the interim report on Friday, 25 October 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-q3-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=50048841. 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 year-end and fourth quarter report 2024 will be published 7 February 2025, 07:30 a.m. CET.
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. The information was submitted for publication, through the agency of the contact persons set out above, at 2024-10-25 07:30 CEST.