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| Fourth quarter Net sales increased 4.2 per cent to MSEK 1,025 (984), of which organic growth was 1.0 per cent. Adjusted EBITA amounted to MSEK 63 (75), with an adjusted EBITA margin of 6.2 per cent (7.6). EBITA amounted to MSEK 59 (69), with an EBITA margin of 5.8 per cent (7.0). Operating profit (EBIT) amounted to MSEK 58 (68), with an operating margin of 5.6 per cent (6.9). Profit for the period amounted to MSEK 36 (48). Earnings per share before and after dilution declined 25.0 per cent to SEK 0.75 (1.00). Cash flow from operating activities increased to MSEK 203 (41). January–December Net sales increased 10.1 per cent to MSEK 3,459 (3,141), of which organic growth was 3.7 per cent. Adjusted EBITA amounted to MSEK 164 (200), with an adjusted EBITA margin of 4.8 per cent (6.4). EBITA amounted to MSEK 133 (179), with an EBITA margin of 3.8 per cent (5.7). Operating profit (EBIT) amounted to MSEK 128 (176), with an operating margin of 3.7 per cent (5.6). Profit for the period amounted to MSEK 44 (123). Earnings per share before and after dilution declined 64.9 per cent to SEK 0.91 (2.59). Cash flow from operating activities increased to MSEK 242 (-72). Net debt declined to MSEK 610 (722) and net debt/adjusted EBITDA declined to 2.6 (2.8). The order backlog increased to MSEK 4,047 (3,700). The Board proposes that no dividend will be paid to the shareholders for 2023 to further strengthen Netel’s financial position. |
Significant events during the fourth quarter
Three-year framework agreement signed with the Swedish Defence Materiel Administration (FMV) for MSEK 480
Agreement signed with E.ON Energidistribution for MSEK 245
Jeanette Reuterskiöld, Acting President and CEO, was appointed President and CEO on 4 December 2023
Significant events after the end of the year
Fredrik Helenius permanently assumed the role of CFO on 26 January 2024
Nett-Tjenester expanded its partnership with Elvia through a new framework agreement totalling about MNOK 120
Eltek signed a contract with Siemens Energy for modernising and expanding Svenska Kraftnät’s signal box
New Group management and organisational structure to clarify synergies and strengthen transactions
Webcast presentation and teleconference
Jeanette Reuterskiöld, President and CEO, and Fredrik Helenius, CFO, will present the interim report on Friday 16 February at 9:00 a.m. CET 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-q4-2023. 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=5008352.. 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 2024 will be published 26 April, 07:30 a.m. CEST.