Press release
The arbitration tribunal has ruled in Netel's favour
The arbitration tribunal has settled Netel's dispute with a large fibre customer and ruled in Netel's favour. Netel will now study the verdict in detail to understand the effects on cash flow and earnings.
The arbitration was initiated in 2021 when Netel claimed compensation for outstanding payment of invoices for work performed. The arbitration tribunal has now determined that Netel was entitled to payment. The company has informed about the dispute in the prospectus prepared in connection with the listing on Nasdaq Stockholm on 15 October 2021 and in the quarterly reports and annual reports 2021 and 2022.
Netel will later communicate information on cash flow and earnings effects.
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 3.1 billion in 2022 and has over 800 employees. Read more at www.netelgroup.com.