Okay. Now, I think we're connected. I hope everyone can see us. And in that case, welcome very much to the presentation of our Q1 results and the targets and the strategy for the coming 4 years. As announced, we will start with the comments on the quarterly report, which was released this morning, as you probably have seen.
And after that, we will go through market for market, the forecast and the plans for the coming years up until 2025. So that's the plan for today. And we think it will take about an hour, maybe less. Let's see. Okay.
So let's start then with the Q1 2021. Can we make it bigger? Okay, fine. Good. So as it says in the report, the performance and the result did exceed our expectations.
As we say, I mean, the Q1 is normally pretty slow quarter. January is almost half a month. And in many telecom companies, the big installation projects don't start until February. So from that point of view, it was surprisingly good. The revenue was a bit higher than SEK 2,000,000 in March.
So, on a monthly basis, a bit above €2,000,000 which is high compared to the last couple of years. So that's also very promising. Out of that, 18% now is IoT revenue, And that's obviously thanks to Home Solutions or Nordic Proptech that also contributes very much to that. So those 2 together make almost 20% of our total revenue now. And both companies made profit in the Q1, is also very positive.
Haiti, as you know, one of our biggest and most important markets, had challenges last year because of the current changes. The government there made a kind of artificial strengthening of the local good, which hit us pretty badly. But that recovered very good. In January, February, it was still difficult, but in March, they were reasonably back on track again. The acquisition of Home Solutions was already mentioned.
We've been talking about that for a while. It was a long process from the first contact till the formal closing in March. But on the 5th March, it was signed and finally closed. After that, the investment fund, Sakhulus, invested in Nordic PropTech and bought 35% of the shares from us. I will come back to that later.
We did have quite high costs for and for the due diligence and all activities around the merger and so on and so forth. So you see that on the net result. And I mean, even if COVID is the situation around COVID, it's improving in most countries. We still suffer quite a lot in the Middle East and Pakistan from the lockdowns and from very low activity levels from the customer side. There are very little big negotiations going on and a lot of things are postponed.
And another final thing was the closure of the Nijerd Network divestment to Netmore. So, if we look at the numbers, the total revenue in the quarter was almost €5,700,000 which is better than last year's Q1, as you see in brackets to the right, partly thanks to Home Solutions, obviously, but also organic growth is in there. The gross profit was 22.5%, a bit lower than the end of last year, but clearly better than the Q1 in 2020 as well. EBITDA was just €50,000 partly because of the cost that I mentioned before, but nevertheless better than last year and also positive, if only with 1%. EBIT, though, after cost and downwritings was or the write downs was unfortunately as much negative as the EBITDA was positive.
So we had around 50,000 negative EBIT. And net was 340,000 almost negative, which was expected from our side, something around that, because we went into the year from a pretty low positioned. So it wasn't completely unexpected. We were hoping for a bit improvement of that. But because the cost and also from the COVID situation, as I said, we were pretty much on budget.
And as you see compared to last year, it's a clear improvement. So if we look at the markets, just to give you an understanding of the relations between the markets and also roughly the size of each market, the first bar is Haiti and partly also direct markets from being in Moist from Topol AG, which is a small part of that, so most of it is Haiti. So you see, it's a little bit over SEK 1,500,000 from the Haitian market, from the operational maintenance project we've been running there for 15 years. Pakistan is 2nd with the SEK 1,250,000,000 revenue. And Sweden now, which is Home Solutions and Topol AB together make a bit above SEK 1,000,000, which is just below 20% of the total, as I said before.
Netherlands, 4th, with almost €1,000,000 Tanzania. And Germany still a little bit lower revenue the unexpected, but on the other hand, very good profitability from Germany. And they're coming strong now in April May, Belgium is next, pretty flat compared to earlier periods. And Saudi is still on in the growing, let's put it like that. Okay.
Next one, if we look at the business development side of it, sales, I mean, we come back to Home Solutions. We mentioned it before, but it's worth to mention again, we did spent quite a lot of time in both in the management team from Home Solutions, but also TOKPUL to integrate the companies to do a handover And also, prepare the company for the new cooperation and for the scaling of our common business. And of course, Home Solutions, as we said before, makes Topol a real smart buildings company now and moving the positioning from a network services company to clearly into IoT and smart buildings. And Sakhl is the idea is, of course, to support this growth. They believe a lot in Home Solutions and in Topol.
And together, we will make sure that we can scale the business as much as possible. Taccol is well connected in the business, they will contribute a lot to that. We also signed an agreement with SmartFront, part of Fasal Gripen in Sweden, a building company, real estate company with focusing on the facades of buildings. And with our equipment, our solutions, they will measure humidity in the walls of the building and other smart building parameters. On top of that, we had a bunch of orders for sensors from B Meters, one of our water meter partners from the AI company Miusbuen, which is one of our most important partners, and also from SENSARES, who's a a sales partner of ours.
And another interesting thing which we told you about already last time is this COVID detection and also measurement solution for basically based on our carbon dioxide sensors measuring the air quality. And our partner installed in Spain who installed this in public buildings already end of last year, and that continued now in Q1 with installation in public buses and public transport in Spain and in May, they also equipped 65 polling stations in Madrid during the elections, with this solution to measure and control the spread of COVID. I will tell you a little bit more about those things in the next slides. In the network services side, Germany was very successful on the sales side. Deutsche Telekom, who's our biggest and most important account, the key account in Germany, opened up and centralized their procurement, which means that we have now been invited to all their tender processes in the whole country.
And this has really multiplied our prospect list in our sales funnel in Germany, and this is also a result of our increased sales efforts in Germany with, among others, Aurelius Vosulus, who will do a presentation later. The Netherlands continued their success story with what we call Sandy Ground's Tower Foundation concept. Some of you have heard about it, some not, but I will show you a short video about that later. They also signed the first 5 gs orders and the camouflage business, the legacy and the core business from before for Topo Netherlands also starting to kick in Q1. Tanzania won the contract with Ericsson for rollout on the Seychelles network modernization project.
And last but not least, in Pakistan, we also won the managed services contract for what's called safe city. It's basically 500 sites installed in Punjabi and Lahore, there's supervision equipment and panic buttons and what have you over the whole city. So we did installation of all this equipment last year, and now we take over the maintenance and management of the network. Yeah, 3 success stories, Dan. I mean, this one you know, but it's very valid and very relevant right now.
I mean, we're in the middle of the merging process of those two companies, which is Home Solutions, on one hand, are Nordic PropTech, which is the formal name of the company we bought, which is well established in the metering arena in Sweden and TOPOL on the other side with TOPOL AB with our own products and sensors and solutions. And when we merge those 2 companies, we will get a strong company with a critical mass in the Swedish market with a very, very good footprint with 50,000 apartments with the HoaSP as you know and the strong sales team and our own products. So this company is basically running on around €50,000,000 revenue this year. So next one. A bit short about this, what we call Sandy Ground's tower foundation, it's something new.
It seems very, yeah, hardcore or very hands on engineering, but it's actually to facilitate the expansion of the 5 gs network. 5 gs will require a lot of new towers, a lot of new sites, as we call them. And this is a new invention from Topol, how we can build erect a tower for 5 gs, also for other technologies in a very short time and very cost efficient. We can build a 40 meter tower in just or we can erect the tower in just 2 days compared to 20 to 30 days normally for a normal tower well, you have to mow the foundation first and wait for it to dry and so on and so forth. So, this is a very efficient method.
As the name says, it's not perfect for rocket grounds, but for sanding grounds and for playgrounds, it's perfect. We basically push down a pipe, a 40 meter pipe in the ground. And then on top of that, you can erect the 40 meter towers in a very short time. Our customers save up to 25% compared to normal tower construction. And also, thanks to the short process and the small need for concrete and for a lot of machinery, we save up to 50% of carbon dioxide emissions.
We've already built 25 towers and last year and this year, 5 towers and next year, it will continue. We expect 30 to 40 towers to be built this year. So, if we look at the video quickly, it's a 1 minute video, you will see exactly how it works. Okay. Yeah.
It's coming up. So, I hope you could see all the whole video and maybe you didn't hear the music, but I think it's okay without success story, which is also something that was mentioned last time, as I said, was our partner Reditell in Spain that bought sensors from Torpel to build this COVID prevention solution for public spaces to start with. And then as a next step, they have now installed this in all buses in the city called Porfirada in the Northwestern Spain. And it's the same concept as before. We measure the carbon dioxide level in the buses.
And the passengers can with the help of this QR code, they can and the app, they can see the level of carbon dioxide and they can act upon it. And also, the bus drivers can act upon this and make longer stops and make sure that the level in of carbon dioxide, which is an indicator of the air quality, they can see how good or bad it is and control it that way. So, it's a pretty simple application, but it's been very successful. And now, as I mentioned before, during the elections in Madrid, in a lot of those poll stations, the solution was implemented just to make sure that we kept an acceptable level of COVID spread risk, let's put it like that. So we can look at that quickly as well, next video challenge.
Okay, it's pretty cool thing. And it's obviously also very important. You may think that COVID is over, so this is no use of this anymore, but of course, this is not just COVID thing, I think, the general awareness of the importance of air quality in buildings and also maybe public transport has raised a lot the last year. And this will continue to be important also in working spaces and apartments for the future. So, we believe a lot in this.
That's the end of the Q1 presentation. We will now go over to the strategy, the 4 year strategy that was also published probably half an hour ago, and we will now tell you a little bit more about what we're up to the coming years and also give you some numbers what our new targets are for 2025. So, first, short introduction from me and then we will go market by market. We have grouped the market in some regions like Benelux, for example. So we have 8 daughter companies now.
But as you see, we're divided into 5 regions. After that, the financial targets and our strategy, a summary of the strategy, which we call ground master plan and also some ideas about our mergers and acquisitions that we're planning the coming years. So, I think if we pull up the whole picture there. You've seen it before. So this is where we are now.
On one hand, what we call networks, our legacy business, but also an area where we digitize. We'll talk about smart network services, managed services. And this is because we will apply solutions, IoT solutions partly on this business area as well to improve the quality of our work, the value for the customer and also to save costs to a certain extent. Right now, we're around SEK 20,000,000,000 revenue from this business area. And we will continue to grow here, but mainly organically from now on.
You know that we have acquired a couple of companies in this area now. We are looking forward to the organic growth. You will see how much later. As I said, more digitization in this area as well. This is a picture of a typical cellular site, you see solar panel, diesel generators, connection to the grid, and you have what you call a shelter with all the radio equipment in there.
And this is also a small building that needs to be very well controlled, more than an apartment building or an office building, actually, because this is, of course, really vital equipment standing there. So, the temperature and the conditions must be perfect. We have the complete competence for everything from planning to maintenance of this kind of equipment. We also have solutions to digitize the services that we offer to our customers. And we believe in the market improvement in this area now with 5 gs coming and also the role of the Chinese vendors it's not as dominant as before as you know.
On the building side, smart buildings, if you want, we're now bigger. We are one of the bigger players in Sweden at least and we have SEK 5,000,000 revenue in this area right now. The plan there is to continue acquire companies of different sizes, niche companies or companies that fit well into our strategy. Similar to Home Solutions, not only in Sweden, obviously, but also in other countries. We have our own products, as you know.
We have developed solutions that are packaged and sold all around the world already, small scale outside of Sweden, obviously, but that is something we will scale from the coming years, right? Sustainable healthy technology, I mean, this is driving the whole business, the digitization on one hand, but also the green wave, the sustainability wave is, of course, important. And the quality of air, water, And also, saving energy is obviously core values that drive this whole development. And we have partners and distributors integrated all over the world already selling our sensors as Reditel, for example. So, this is where we are now.
And we're planning to take it to a new level in the coming 4 years. And my colleagues will tell you more about this trip. So, over to you, Aurelius.
Hello to everybody. So, I'm happy to talk this afternoon about the individual markets. On this slide, you see a little bit the locations, top pool offices are located. And in light blue, the markets we're addressing directly are having active projects in. So, on the next slide, deep diving into the Sweden, let's say the competence center of our IoT means smart building business coming from, let's say, the sensor hardware, the system competence and adding with Home Solutions, 50,000 homes to the market, we're able to upsell our IoT solutions into these existing customer base.
Also, we're strengthening that, let's say, through HVAC, which is climate optimization, water management and energy consumption measuring, air quality improvement and malt detection into 1 bucket all, let's say, solutions we're offering to the market, not only to private homes, also to B2B markets, office buildings to improve energy consumption in Singapore. The optimal the situation is that this kind of business is recurring business. So there are long term contracts in place which ensure revenues used over a longer period. The growth will go from the revenue will go from SEK5 1,000,000 this year to plant SEK 11,000,000 in 2025 with an EBITA of SEK 7 up to 14% in 2025 again. Good.
Next slide will be Germany. In Germany, we have a pretty strong, let's say, relationship with the big telco with Deutsche Telekom, as mentioned. In this, we can leverage, of course, with, let's say, and the network planning for base stations, which is driven by the, let's say, the home office usage nowadays, plus the 5 gs rollout. So, all, say, connecting buildings, homes and 5 gs base stations with high speed broadband. So there is a big push in the country, I think, all over Europe.
We're also starting selling Smart Building Technologies. So, 1st contact, 1st opportunities in the building companies, improving heating systems, which is, let's say, solutions coming and provided from our Swedish colleagues. The growth on revenue is 2.1 to 7.2 in 25 And EBITA margin goes from 28 down to 25. So, this is to enlarge the market a little bit more in aggressive pricing. Next, on the Benelux side, here we do have these camouflage telecom antennas, which are getting, let's say, camouflaged or hidden in buildings, on rocks, on mountains, so they are not so visible.
We are the market leader in doing that And extending that business, let's say, outside Benelux, of course. In addition, we have an entity, which is focusing on repair and refurbish and upgrade communication equipment, which is highly efficient through, let's say, updating, especially in these days, when you see all the allocation and shortage of semiconductors and equipment in the world at the moment. So, this is where the automotive companies are lacking on. So, refurbishment, repair will get more and more important also in saving CO2 and production capabilities. Also, we're maintaining and improving telecom networks for the operations in Benelux.
And of course, the plan is to grow our nice new invention, Sandy grounds, to build up, let's say, telecom infrastructure base station more quickly and more cost efficient and save CO2 emissions also on that. Smart building sales, we wanted to start driving out there in 2022, in the year, And that we'll have a stable growth from €4,000,000 to €5,700,000 in 2025. EBITA will stay something stable. So, we think it will be at 2% from today also in 2025. Next slide.
Markets including America and Africa. So, we have, let's say, our headquarter for, let's say, Telco project management in Africa with our hub in Tanzania, very efficient. And we run, let's say, in AITI, the maintenance contract with Digital for over 15 years, and of course, this is ongoing. Also, what is becoming what we see, what is becoming more and more is a consulting business to go into accounts explaining projects, explaining technology solutions, use cases, to get out, let's say, the highest return of investor for the customers and, of course, having a footprint within the customer already before the original project will start. So, this is an initiative which is very positive.
And also using, let's say, academic resources to address the sales channels with different thinking, different way of approaching, running from, let's say, managed from the headquarter. On the revenue and margin side, we want to go from SEK 7,000,000 to SEK 13.5 And from 9% to 12% in 2025. In Middle East, which is next slides including Pakistan and Saudi. We are at the moment, of course, we are the market leader in network services in Pakistan, we have locally 815 employees, widespread over the country, maintaining the telco sites and also solar farms. Here, let's say, the task or the upcoming business or running business also is optimizing the energy consumption and a kind of energy switching on what kind of energy is in best use on pricing or cost efficiency and on CO2 efficiency for the individual site, which is widespread over the country.
And we have a small technology consulting business, which is down there in Saudi, going in consulting local companies there with our competencies. So, Pakistan, as we are a market leader, we're, let's say, we're continuing stabilizing the as a market leader there. And of course, we want to bring like new technology, extended technology and And the growth is in the Saudi market. So, the revenue growth is plan from SEK6.9 million to SEK10.6 million in these regions and going from margin wise 11% to 15%. Good.
And next slide, I'll let Erik conclude and summarize.
Thank you. Yes. Hello. My name is Magnus Barholm. My name is also Erik, actually Erik Magnus Barholm.
So, and the total when we accumulate all this, we'll get to a total of €48,000,000 And an EBITDA range of between 11% 14% for 2025, taking all the markets that Aurelius from Bayern in Germany told us. And I can't really see the remaining, but we are focusing much more on sales now. Compared to previously, we were more of an engineering company, more reactive. Now, we're becoming more proactive. And that's just starting now.
We started Aurelius is with us shortly, since a few months, but we also have several other sales focused employees and other investments in sales going forward. We're seeing fast growth in Europe, bypassing half of our or having more than half of our revenues in Europe from next year, approximately next year. And then continuing to increase in this phase. And the profit margin partly due to the improved market or industry improve situation. We also, as along with other companies in our industries, improve margins.
But we also, from ourselves, we may take measures that we believe will substantially in this phase increase our profitability. And if we're looking at the 2 different business units that we have, buildings on one side and networks on the other. We believe buildings is going to grow faster, Partly due to more acquisitions, but also due to good organic growth. But networks, which is now 80% of our business will still be more than half of our revenues throughout 2025. Yes, we can take on to next slide.
And that's our strategy in 3 steps. It takes us basically from 2016 until 2,030. And we're in the 2nd phase now. So, we call this our grand master plan and we're in the 2nd phase of this grand master plan. For me, it's the most interesting phase that we entered at the beginning of this year because now, we're still relatively small.
We do have some interesting visions. And 5 years from now, then we will know much more of how we're going to continue. But if it works out as I'm convinced that it will, then, we're set out for some for a fantastic future in the 3rd phase, 2025 to 2030. But focusing now on this phase, taking us until the next 4 years, we're digitizing telecom sites, networks and also buildings. That is then we can take the next slide.
It's pretty wordy, but I'll actually read it out loud because it is important to us and explains a bit how we're thinking and what we want to do. And so, the second phase now explains how we'll grow until 2025, how we'll develop into a technology provider of solutions and services for sustainable buildings and telecom sites. So, the network services provided by us, they're required for connecting and managing things, all kinds of things, not just phones and computers as in the past, but also sensors and integrated in all kinds of infrastructure. And so, we'll continue to do this network services basic building block that we need to step up. And then, we'll add on the smarter services.
On top of that, the Topo's IoT solutions, they make real estate infrastructure smarter and more sustainable. The efforts are focused on buildings and network sites And the technologies, they include artificial intelligence and other upcoming emerging technologies that during this phase, the next few years is going to make a big difference. So, we believe that the Requirement for measuring natural resources such as water, energy and even air that we breathe, especially indoors. That's especially expected to grow quickly. And so, we'll increase Metering, so that measuring consumptions, especially in households, will increase from about 50,000 now to about a few 100,000 in 2025.
And we're focusing on 3, as mentioned, air, Energy and water. So, those are that's our focus. Air, so we're creating healthier, more sustainable indoor climate. And there are new, very interesting technologies making air much healthier. Indoor air can be more healthy than outdoor air in the end.
The energy, there's several ways of creating local power and managing power in smarter ways. So, we're part of that and we want to focus on that further, creating local energy and managing that measuring, we have several initiatives that it's required when you if you put, for example, solar panels on a building to be able to distribute that to who's using that local energy is then a big thing. And you require our individual metering for doing that. And the water is also very important, both quality and there's all kind of leaks And losses of water in different places to measure and manage that technology wise. Yeah.
And so, our clients, they will have benefit from using our services. So, word-of-mouth, we hope, will then become a factor going forward that our technology is more advanced And our competitors being a technology driven company. And then, they will want to have our metering, have our solutions for indoor air and water and so on. So, a bit to summarize, we'll make buildings and networks greener, healthier, and more efficient by using Internet technology. And secondly, we'll strengthen existing markets, mainly Europe by upselling proven products.
So, not guinea pigs, no tests, but really commercialized solutions that work well for us and a very commercialized sales business development focus in this phase. This will give us rapid growth, increased transparency, and we'll be in the sweet Spot of sustainable technology and environmental solutions. And also, our profit margins And growth is we expect that both will be picking up. And we believe in being a different company And challenging the stock status quo. We have been doing that in the past.
Now, we're transforming into more of a green organization that we'll help our clients to make better decisions and use the real time data in a healthy way. So, on to the mergers and acquisitions strategy. We have then a strategy of doing more acquisitions similar to the one we made earlier this year, the Home Solution acquisition, where we acquired a metering company, and that's more of a geographic expansion. So, we'll look for similar companies of individual metering in our existing markets, such as the Benelux, Germany and so on. And then, we also have technology acquisitions and that's air, energy, water coming back those three important resources.
So, we're looking for companies that are matching very well with our technology and that our clients will very much like using. So, again, it's not early stage technology, but something that really is proven to work for us. And we want to grow substantially our client base and push more technology for indoor Air quality, local energy management and water solutions. Yeah, that's all. That's all for today.
Thank you, Erik. Stromstedt, our CEO that presented the first part. Aurelioz Vosselos that had the markets part. I think we had a technical glitch there. You didn't see all the markets, we solved it halfway through.
And then finally, I was trying to summarize our strategy. That's all from Torpor today. Thank you, and have a good day.