Income Statement Netel Holding AB

Stocks

NETEL

SE0016798417

Construction & Engineering

Market Closed - Nasdaq Stockholm 02:00:00 15/09/26 am AEST			5-day change	1st Jan Change
3.320 ^SEK	+0.91%		-1.78%	-33.20%

07:18pm	Netel Plans SEK149 Million Equity Raise Ahead of Infrea Merger	MT
04:09pm	Netel's rights issue oversubscribed, raises €13.0m	FW

607129d06dcf41d487.EWCqoA8t3ZNIYXSz8BWK-EWUBLS-D9EHVruiOGUsvjs.KAPS2Dx5jvUKAhz3tyTPkXzhPNLUaKRjPtaRDQx_9W0mOPzCbmCM8ABZLQ

Published financial data: NETEL HOLDING AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Revenues	2.42B	3.14B	3.46B	3.28B	2.92B
Other Revenues, Total	-1M	-	-	-	-
Total Revenues	2.42B	3.14B	3.46B	3.28B	2.92B
Cost of Goods Sold, Total	1.56B	1.98B	2.25B	2.11B	1.82B
Gross Profit	859M	1.16B	1.21B	1.17B	1.09B
Selling General & Admin Expenses, Total	684M	931M	1.04B	1B	1.03B
Depreciation & Amortization - (IS)	44M	65M	76M	69M	84M
Other Operating Expenses	-3M	-25M	-32M	-48M	-10M
Other Operating Expenses, Total	725M	971M	1.08B	1.03B	1.11B
Operating Income	134M	189M	131M	145M	-13M
Interest Expense, Total	-27M	-27M	-66M	-65M	-59M
Interest And Investment Income	-	-	6M	5M	3M
Net Interest Expenses	-27M	-27M	-60M	-60M	-56M
Currency Exchange Gains (Loss)	5M	15M	5M	3M	-2M
Other Non Operating Income (Expenses)	-4M	-3M	-9M	-18M	-20M
EBT, Excl. Unusual Items	108M	174M	67M	70M	-91M
Merger & Related Restructuring Charges	-8M	-13M	-3M	-	-
EBT, Incl. Unusual Items	100M	161M	64M	70M	-91M
Income Tax Expense	34M	38M	20M	12M	-1M
Earnings From Continuing Operations	66M	123M	44M	58M	-90M
Earnings Of Discontinued Operations	-	-	-	-105M	-27M
Net Income to Company	66M	123M	44M	-47M	-117M
Net Income - (IS)	66M	123M	44M	-47M	-117M
Net Income to Common Incl Extra Items	66M	123M	44M	-47M	-117M
Net Income to Common Excl. Extra Items	66M	123M	44M	58M	-90M
Per Share Items
Net EPS - Basic	1.86	2.58	0.91	-0.97	-2.41
Basic EPS - Continuing Operations	1.86	2.58	0.91	1.2	-1.86
Basic Weighted Average Shares Outstanding	35.54M	47.73M	48.48M	48.51M	48.51M
Net EPS - Diluted	1.86	2.58	0.91	-0.97	-2.41
Diluted EPS - Continuing Operations	1.86	2.58	0.91	1.2	-1.86
Diluted Weighted Average Shares Outstanding	35.54M	47.73M	48.48M	48.51M	48.51M
Normalized Basic EPS	1.9	2.28	0.86	0.9	-1.17
Normalized Diluted EPS	1.9	2.28	0.86	0.9	-1.17
Supplemental Items
EBITDA	142M	202M	150M	162M	1M
EBITA	134M	189M	131M	145M	-13M
EBIT	134M	189M	131M	145M	-13M
EBITDAR	143M	-	-	-	2M
Total Revenues (As Reported)	2.42B	3.17B	3.49B	-	2.92B
Effective Tax Rate - (Ratio)	34	23.6	31.25	17.14	1.1
Total Current Taxes	37M	37M	26M	15M	8M
Total Deferred Taxes	-3M	1M	-7M	-3M	-9M
Normalized Net Income	67.5M	109M	41.88M	43.75M	-56.88M
Interest on Long-Term Debt	3M	4M	4M	3M	3M
Supplemental Operating Expense Items
Research And Development Expense From Footnotes	1M	3M	5M	6M	9M
Net Rental Expense, Total	1M	-	-	-	1M
Imputed Operating Lease Interest Expense	441K	-	-	-	444K
Imputed Operating Lease Depreciation	559K	-	-	-	556K

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Assets
Cash And Equivalents	271M	369M	446M	261M	205M
Total Cash And Short Term Investments	271M	369M	446M	261M	205M
Accounts Receivable, Total	687M	1.12B	995M	889M	842M
Other Receivables	18M	39M	57M	127M	45M
Total Receivables	705M	1.16B	1.05B	1.02B	887M
Inventory	8M	8M	8M	2M	5M
Prepaid Expenses	-	-	-	-	3M
Other Current Assets, Total	-	-	-	61M	-
Total Current Assets	984M	1.53B	1.51B	1.34B	1.1B
Gross Property Plant And Equipment	224M	366M	377M	396M	429M
Accumulated Depreciation	-99M	-180M	-203M	-234M	-232M
Net Property Plant And Equipment	125M	186M	174M	162M	197M
Goodwill	810M	1.18B	1.24B	1.24B	1.22B
Other Intangibles, Total	-	179M	179M	179M	180M
Deferred Tax Assets Long-Term	14M	10M	16M	7M	2M
Deferred Charges Long-Term	193M	20M	20M	23M	20M
Other Long-Term Assets, Total	7M	11M	14M	15M	31M
Total Assets	2.13B	3.12B	3.15B	2.97B	2.76B
Liabilities
Accounts Payable, Total	258M	323M	335M	296M	298M
Accrued Expenses, Total	109M	118M	96M	99M	112M
Current Portion of Long-Term Debt	1M	5M	9M	8M	104M
Current Portion of Leases	34M	48M	44M	40M	50M
Current Income Taxes Payable	29M	31M	23M	-	-
Unearned Revenue Current, Total	53M	118M	151M	132M	116M
Other Current Liabilities	82M	88M	258M	259M	66M
Total Current Liabilities	566M	731M	916M	834M	746M
Long-Term Debt	499M	967M	951M	920M	884M
Long-Term Leases	55M	70M	52M	38M	81M
Deferred Tax Liability Non Current	64M	68M	68M	70M	60M
Other Non Current Liabilities	38M	177M	26M	11M	13M
Total Liabilities	1.22B	2.01B	2.01B	1.87B	1.78B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	1.4B	1.46B	1.47B	1.47B	1.47B
Retained Earnings	-485M	-361M	-317M	-364M	-481M
Comprehensive Income and Other	-1M	5M	-22M	-14M	-22M
Total Common Equity	911M	1.11B	1.13B	1.1B	971M
Total Equity	911M	1.11B	1.13B	1.1B	971M
Total Liabilities And Equity	2.13B	3.12B	3.15B	2.97B	2.76B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	47.5M	48.21M	48.51M	48.51M	48.51M
ECS Total Common Shares Outstanding	46.7M	48.21M	48.51M	48.51M	48.51M
Book Value / Share	19.51	22.94	23.36	22.57	20.02
Tangible Book Value	101M	-252M	-283M	-326M	-434M
Tangible Book Value Per Share	2.16	-5.23	-5.83	-6.72	-8.95
Total Debt	589M	1.09B	1.06B	1.01B	1.12B
Net Debt	318M	721M	610M	745M	914M
Debt Equivalent Oper. Leases	8M	-	-	-	8M
Account Code - Inventory Valuation	5	5	5	5	5
Inventories - Raw Materials, Total	8M	8M	8M	2M	5M
Land - (BS)	-	-	6M	-	6M
Buildings, Total	-	-	-	6M	-
Machinery, Total	73M	158M	170M	172M	152M
Full Time Employees	658	789	856	837	798
Part Time Employees	-	-	-	-	15
Accumulated Allowance for Doubtful Accounts (Supple)	5M	6M	5M	4M	4M
Order Backlog	3.49B	3.7B	4.05B	-	4.16B

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Net Income	66M	123M	44M	-47M	-117M
Depreciation & Amortization - CF	45M	61M	71M	66M	73M
Amortization of Goodwill and Intangible Assets - (CF)	-	-	-	-	-
Depreciation & Amortization, Total	45M	61M	71M	66M	73M
Amortization of Deferred Charges, Total - (CF)	1M	3M	5M	6M	9M
Other Operating Activities, Total	2M	-9M	-21M	-49M	-14M
Change In Accounts Receivable	-56M	-292M	94M	8M	72M
Change In Inventories	-3M	1M	-	2M	-
Change in Other Net Operating Assets	59M	41M	49M	73M	-69M
Cash from Operations	114M	-72M	242M	59M	-46M
Capital Expenditure	-8M	-8M	-13M	-31M	-18M
Sale of Property, Plant, and Equipment	-	6M	11M	4M	8M
Cash Acquisitions	-153M	-224M	-74M	-124M	-2M
Sale (Purchase) of Intangible assets	-15M	-10M	-6M	-14M	-7M
Investment in Marketable and Equity Securities, Total	-5M	-2M	-1M	2M	-1M
Other Investing Activities, Total	-	-	-	1M	-
Cash from Investing	-181M	-238M	-83M	-162M	-20M
Long-Term Debt Issued, Total	475M	462M	50M	15M	97M
Total Debt Issued	475M	462M	50M	15M	97M
Long-Term Debt Repaid, Total	-424M	-61M	-117M	-103M	-81M
Total Debt Repaid	-424M	-61M	-117M	-103M	-81M
Issuance of Common Stock	193M	-	-	-	-
Other Financing Activities, Total	-	1M	-	-	-
Cash from Financing	244M	402M	-67M	-88M	16M
Foreign Exchange Rate Adjustments	5M	6M	-14M	11M	-10M
Miscellaneous Cash Flow Adjustments	-	-1M	-	-	-
Net Change in Cash	182M	97M	78M	-180M	-60M
Supplemental Items
Cash Interest Paid	27M	22M	67M	65M	59M
Cash Income Tax Paid (Refund)	27M	39M	39M	58M	24M
Levered Free Cash Flow	66.88M	-158M	388M	-19M	2M
Unlevered Free Cash Flow	83.75M	-141M	429M	21.62M	38.88M
Change In Net Working Capital	23M	305M	-290M	96M	10M
Net Debt Issued / Repaid	51M	401M	-67M	-88M	16M

Fiscal Period: December	2021 (SEK)	2022 (SEK)	2023 (SEK)	2024 (SEK)	2025 (SEK)
Profitability
Return on Assets	4.6	4.5	2.61	2.96	-0.28
Return on Total Capital	6.72	6.39	3.74	4.22	-0.39
Return On Equity %	8.72	12.19	3.93	5.21	-8.71
Return on Common Equity	8.72	12.19	3.93	5.21	-8.71
Margin Analysis
Gross Profit Margin %	35.54	36.93	35.07	35.66	37.53
SG&A Margin	28.3	29.64	30.01	30.6	35.44
EBITDA Margin %	5.88	6.43	4.34	4.93	0.03
EBITA Margin %	5.54	6.02	3.79	4.42	-0.45
EBIT Margin %	5.54	6.02	3.79	4.42	-0.45
Income From Continuing Operations Margin %	2.73	3.92	1.27	1.77	-3.09
Net Income Margin %	2.73	3.92	1.27	-1.43	-4.01
Net Avail. For Common Margin %	2.73	3.92	1.27	1.77	-3.09
Normalized Net Income Margin	2.79	3.46	1.21	1.33	-1.95
Levered Free Cash Flow Margin	2.77	-5.02	11.21	-0.58	0.07
Unlevered Free Cash Flow Margin	3.46	-4.48	12.4	0.66	1.33
Asset Turnover
Asset Turnover	1.33	1.2	1.1	1.07	1.02
Fixed Assets Turnover	23.47	20.2	19.22	19.55	16.24
Receivables Turnover (Average Receivables)	3.92	3.48	3.27	3.5	3.36
Inventory Turnover (Average Inventory)	259.67	247.62	280.75	422.6	520.29
Short Term Liquidity
Current Ratio	1.74	2.1	1.64	1.61	1.47
Quick Ratio	1.72	2.09	1.64	1.53	1.46
Operating Cash Flow to Current Liabilities	0.2	-0.1	0.26	0.07	-0.06
Days Sales Outstanding (Average Receivables)	93.14	104.87	111.48	104.48	108.75
Days Outstanding Inventory (Average Inventory)	1.41	1.47	1.3	0.87	0.7
Average Days Payable Outstanding	52.93	53.52	53.47	54.8	59.43
Cash Conversion Cycle (Average Days)	41.62	52.82	59.32	50.55	50.02
Long Term Solvency
Total Debt/Equity	64.65	98.55	93.2	91.87	115.24
Total Debt / Total Capital	39.27	49.64	48.24	47.88	53.54
LT Debt/Equity	60.81	93.76	88.53	87.49	99.38
Long-Term Debt / Total Capital	36.93	47.22	45.82	45.6	46.17
Total Liabilities / Total Assets	57.29	64.54	63.99	63.11	64.75
EBIT / Interest Expense	4.96	7	1.98	2.23	-0.22
EBITDA / Interest Expense	6.63	9.26	3.06	3.25	1.02
(EBITDA - Capex) / Interest Expense	6.33	8.96	2.86	2.77	0.71
Total Debt / EBITDA	3.29	4.36	5.23	4.77	18.65
Net Debt / EBITDA	1.78	2.88	3.02	3.53	15.23
Total Debt / (EBITDA - Capex)	3.44	4.5	5.59	5.59	26.64
Net Debt / (EBITDA - Capex)	1.86	2.98	3.23	4.14	21.76
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	31	29.95	10.12	3.08	-9.3
Gross Profit, 1 Yr. Growth %	44.37	35.04	4.57	-1.84	-5.28
EBITDA, 1 Yr. Growth %	15.45	50.75	-20.64	-12.9	-99.43
EBITA, 1 Yr. Growth %	11.67	50	-25.57	-12.12	-108.28
EBIT, 1 Yr. Growth %	13.56	50	-25.57	-12.12	-108.28
Earnings From Cont. Operations, 1 Yr. Growth %	37.5	86.36	-64.23	-29.27	-240.62
Net Income, 1 Yr. Growth %	37.5	86.36	-64.23	-206.82	148.94
Normalized Net Income, 1 Yr. Growth %	63.64	74	-58.39	-30.69	-212.35
Diluted EPS Before Extra, 1 Yr. Growth %	25.76	38.76	-64.78	-29.31	-240.62
Accounts Receivable, 1 Yr. Growth %	25.59	62.74	-11	-9.84	-5.92
Inventory, 1 Yr. Growth %	100	0	0	-75	150
Net Property, Plant and Equip., 1 Yr. Growth %	54.32	48.8	-6.45	-6.9	21.6
Total Assets, 1 Yr. Growth %	41.16	46.23	0.87	-5.66	-7.18
Tangible Book Value, 1 Yr. Growth %	1.02K	223.08	11.86	15.19	32.72
Common Equity, 1 Yr. Growth %	51.08	21.27	2.53	-3.35	-11.32
Cash From Operations, 1 Yr. Growth %	-12.98	-163.16	-436.11	-75.62	-177.97
Capital Expenditures, 1 Yr. Growth %	100	0	62.5	138.46	-41.94
Levered Free Cash Flow, 1 Yr. Growth %	-	-354.95	-333.68	-104.65	-117.39
Unlevered Free Cash Flow, 1 Yr. Growth %	-	-278.89	-387.84	-95.2	33.48
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	-	30.48	19.63	2.25	-4.35
Gross Profit, 2 Yr. CAGR %	-	39.63	18.83	0.47	-4.24
EBITDA, 2 Yr. CAGR %	-	28.15	5.8	-7.42	-92.67
EBITA, 2 Yr. CAGR %	-	25.5	1.96	-9.23	-71.93
EBIT, 2 Yr. CAGR %	-	26.56	1.96	-9.23	-71.93
Earnings From Cont. Operations, 2 Yr. CAGR %	-	60.08	-18.35	-31.33	4.76
Net Income, 2 Yr. CAGR %	-	60.08	-18.35	-38.18	63.07
Normalized Net Income, 2 Yr. CAGR %	-	62.37	-18.15	-34.06	-5.08
Diluted EPS Before Extra, 2 Yr. CAGR %	-	32.1	-30.1	-31.89	4.73
Accounts Receivable, 2 Yr. CAGR %	-	42.96	20.35	-10.83	-7.59
Inventory, 2 Yr. CAGR %	-	41.42	0	-50	-20.94
Net Property, Plant and Equip., 2 Yr. CAGR %	-	51.54	17.98	-6.67	6.4
Total Assets, 2 Yr. CAGR %	-	43.67	21.45	-2.45	-6.42
Tangible Book Value, 2 Yr. CAGR %	-	429.15	90.48	13.51	23.84
Common Equity, 2 Yr. CAGR %	-	35.43	11.46	-0.45	-7.42
Cash From Operations, 2 Yr. CAGR %	-	-25.86	45.7	-9.48	-56.4
Capital Expenditures, 2 Yr. CAGR %	-	41.42	27.48	96.85	17.67
Levered Free Cash Flow, 2 Yr. CAGR %	-	-	150.29	-66.16	-93.01
Unlevered Free Cash Flow, 2 Yr. CAGR %	-	-	133.37	-61.9	-70.61
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	-	-	23.31	10.76	-2.46
Gross Profit, 3 Yr. CAGR %	-	-	26.8	10.88	-1.93
EBITDA, 3 Yr. CAGR %	-	-	6.84	6.53	-82.57
EBITA, 3 Yr. CAGR %	-	-	2.97	4.79	-58.04
EBIT, 3 Yr. CAGR %	-	-	3.55	4.79	-58.04
Earnings From Cont. Operations, 3 Yr. CAGR %	-	-	-2.86	-4.22	-9.89
Net Income, 3 Yr. CAGR %	-	-	-2.86	-10.7	-1.65
Normalized Net Income, 3 Yr. CAGR %	-	-	0.5	-11.21	-17.32
Diluted EPS Before Extra, 3 Yr. CAGR %	-	-	-14.98	-13.66	-10.38
Accounts Receivable, 3 Yr. CAGR %	-	-	22.07	8.97	-9.02
Inventory, 3 Yr. CAGR %	-	-	25.99	-37	-14.5
Net Property, Plant and Equip., 3 Yr. CAGR %	-	-	29.03	9.03	1.93
Total Assets, 3 Yr. CAGR %	-	-	27.69	11.64	-4.05
Tangible Book Value, 3 Yr. CAGR %	-	-	215.63	61.08	19.71
Common Equity, 3 Yr. CAGR %	-	-	23.4	6.29	-4.22
Cash From Operations, 3 Yr. CAGR %	-	-	22.7	-19.71	-13.87
Capital Expenditures, 3 Yr. CAGR %	-	-	48.12	57.07	31.04
Levered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-32.53	-77.07
Unlevered Free Cash Flow, 3 Yr. CAGR %	-	-	-	-35	-36.1
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	-	-	-	-	9.58
Gross Profit, 5 Yr. CAGR %	-	-	-	-	12.95
EBITDA, 5 Yr. CAGR %	-	-	-	-	-61.8
EBITA, 5 Yr. CAGR %	-	-	-	-	-35.89
EBIT, 5 Yr. CAGR %	-	-	-	-	-35.67
Earnings From Cont. Operations, 5 Yr. CAGR %	-	-	-	-	13.4
Net Income, 5 Yr. CAGR %	-	-	-	-	19.51
Normalized Net Income, 5 Yr. CAGR %	-	-	-	-	6.63
Diluted EPS Before Extra, 5 Yr. CAGR %	-	-	-	-	4.67
Accounts Receivable, 5 Yr. CAGR %	-	-	-	-	9.01
Inventory, 5 Yr. CAGR %	-	-	-	-	4.56
Net Property, Plant and Equip., 5 Yr. CAGR %	-	-	-	-	19.45
Total Assets, 5 Yr. CAGR %	-	-	-	-	12.76
Tangible Book Value, 5 Yr. CAGR %	-	-	-	-	117.09
Common Equity, 5 Yr. CAGR %	-	-	-	-	10
Cash From Operations, 5 Yr. CAGR %	-	-	-	-	-18.89
Capital Expenditures, 5 Yr. CAGR %	-	-	-	-	35.1