Sweden · Delayed Price · Currency is SEK Netel Holding AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw weak results due to seasonality and a long winter, but order backlog grew to SEK 4.2 billion, supporting optimism for H2. Cost-saving programs and restructuring are underway, with margin improvements and growth expected for the full year.
Fiscal Year 2025
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Q4 2025 closed a tough year with lower sales, large write-downs, and divestments, but strong cash flow and a record SEK 4.2 billion order backlog. Power Norway excelled with 40% growth, while cost-saving and restructuring measures set the stage for margin improvement in 2026.
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Q3 saw a sharp drop in profitability due to SEK 59 million in write-downs and lower sales, with adjusted EBITDA at SEK -53 million. Cost-saving programs and divestment of the U.K. business are underway, and 2025 revenue is guided at SEK 3 billion with margin recovery expected in 2026.
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Project startups weighed on sales and margins, but a record SEK 4.1 billion backlog and major new contracts support a positive outlook. Telecom outperformed with margin gains, while the sale of Finnish operations strengthens focus on core markets.
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Q1 saw 2.7% organic sales growth to SEK 694 million and a 2.9% adjusted EBITDA margin, with Power and Telecom driving performance. Order backlog remains robust, and the divestment of Finnish operations is on track. Margin improvement and growth are expected through 2024.
Fiscal Year 2024
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2024 saw 3.1% organic growth and a record SEK 4 billion order backlog, with strong contract wins in Power and Telecom. Margins declined year-over-year, and the Finnish business is being divested. Focus for 2025 is on profitability, cash flow, and leveraging new contracts.
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Q3 saw modest sales growth, strong order backlog, and margin pressure from project timing and competition. Strategic initiatives in digitalization and sustainability are progressing, with full-year margins expected in line with last year and growth in new markets targeted for 2025.
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Q2 saw 7.7% organic growth, with strong infra services and power performance, and telecom boosted by fiber rollout in Finland. Order backlog reached SEK 4.2 billion, with SEK 1.5 billion for H2 2024, and adjusted EBITDA margin improved to 4.8%.