Press release
Year-End Report 2022
Growth of 37.2 per cent in the quarter and record high order backlog
| Fourth quarter • Net sales rose 37.2 per cent to MSEK 984 (717), of which organic growth was 12.6 per cent. • Adjusted EBITA increased to MSEK 75 (66) and the adjusted EBITA margin amounted to 7.6 per cent (9.2). • EBITA increased to MSEK 69 (37) and the EBITA margin rose to 7.0 per cent (5.1). • Operating profit (EBIT) increased to MSEK 68 (36) and the operating margin rose to 6.9 per cent (5.0). • Profit for the period increased 434.9 per cent to MSEK 48 (9). • Earnings per share before and after dilution rose 400.0 per cent to SEK 1.00 (0.20). • Cash flow from operating activities amounted to MSEK 41 (160). |
January–December • Net sales rose 29.9 per cent to MSEK 3,141 (2,418), of which organic growth was 7.5 per cent • Adjusted EBITA increased to MSEK 200 (177) and the adjusted EBITA margin amounted to 6.4 per cent (7.3). • EBITA increased to MSEK 179 (127) and the EBITA margin rose to 5.7 per cent (5.2). • Operating profit (EBIT) increased to MSEK 176 (126) and the operating margin rose to 5.6 per cent (5.2) • Profit for the period increased 86.3 per cent to MSEK 123 (66). • Earnings per share before and after dilution rose 38.5 per cent to SEK 2.59 (1.87). • Cash flow from operating activities amounted to MSEK -72 (114) • Net debt amounted to MSEK 722 (318) and net debt/adjusted EBITDA R12M to 2.8 (1.4) • The order backlog increased to MSEK 3,700 (3,488) • The Board proposes that no dividend be paid to shareholders for 2022 so as to continue creating scope for value-adding acquisitions in line with Netel’s strategy. |
Significant events during and after the fourth quarter
- The acquisition of Elektrotjänst i Katrineholm expanded Netel’s power business to railways, underground rail and defence
- Several large orders for fibre networks, power projects, 5G expansion and service in Norway, the UK and Germany
- Stefan Ljunglin appointed new Country Manager for Finland
- Netel joins Science Based Target initiative to combat climate change
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. 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-q4-2022. 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=5003807. 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 first quarter report 2023 will be published 4 May 2023, 07:30 a.m. CEST.
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.
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 2023-02-16 07:30 CET.