Netel Holding Ab · OMXSTO:NETEL
Netel Holding Ab — Q3 2026 Earnings Presentation
19 slides from Netel Holding Ab's earnings presentation, Oct 28, 2026
Slide 1: Q3 Presentation
Q3 Presentation 28 October 2026
Slide 2: Agenda
Agenda • Highlights Q3 • Market update • Financial performance • Summary and indication 2026
Slide 3: Highlights Q3
Highlights Q3 Netel is well-prepared for the merger with Infrea • The rights issue was oversubscribed and Netel raised proceeds of MSEK 140 • The Extraordinary General Meeting on 21 August 2026 approved the merger with Infrea • All relevant authorities have approved the merger with Infrea • The Swed
Slide 4: Highlights Q3: Financial performance Q3 YTD
Highlights Q3 Financial performance Q3 YTD • Increased sales driven by good development in Infraservices MSEK 2026 2025 2026 2025 and Power Net sales 682 652 1,983 2,103 • Order backlog SEK 3.7 billion, characterised by good profitability Adj. EBITA 20 -34 53 26 • Improved profitability as a result
Slide 5: Market update and recent business wins
Market update and recent business wins
Slide 6: Infraservices
Infraservices • Sales increased 26.1% to MSEK 169, driven by higher project volumes. • EBITA improved to MSEK -2. Excluding discontinuation effects, the margin was 1.7%. • The liquidation of an acquired company in 2022 will continue to be affecting to earnings but is expected to be largely completed
Slide 7: Power
Power • Sales increased 30.1% to MSEK 255, with growth in both Sweden and Norway. • EBITA amounted to MSEK 4, with a margin of 1.7%. • Electrification is driving demand. New contracts with Elvia in Norway, E.ON and another large energy company in Sweden, strengthen the order backlog for the coming y
Slide 8: Telecom
Telecom • Sales decreased 20.0% to MSEK 258 as installation volumes fell in Sweden and Norway. • Cost-savings and good development in Germany improved EBITA to MSEK 4, with a margin of 1.4%. • Norway is adapting operations faster to projects and a broader customer base, with profitability over volum
Slide 9: Financial performance
Financial performance & Netel
Slide 10: Normal seasonality and active markets
Normal seasonality and active markets Net sales Order backlog • Net sales 4.5% to MSEK 682 (652) • Good growth in Infraservices and Power 1400 4000 • Impacted by lower volumes in Telecom 1200 3500 3000 • FX effects 3.5% 1000 2500 • Order backlog SEK 3.7 billion 800 2000 600 1500 400 1000 200 500 0 0
Slide 11: Profitability impacted by lower volumes in Telecom
Profitability impacted by lower volumes in Telecom Adjusted EBITA & margin • Adjusted EBITA MSEK 20 (-34) 80 8 • Adjusted EBITA margin 2.9% (-5.3) 6 60 • EPS -0.52 (-0.99) SEK 4 40 2 20 0 0 -2 -20 -4 -40 -6 Adjusted EBITA, MSEK Adjusted EBITA margin, % All numbers in the presentation refer to contin
Slide 12: Cash flow reflecting reduced capital tied-up
Cash flow reflecting reduced capital tied-up Operating cash flow Including discontinuing operations • Operating cash flow MSEK 60 (-44) 200 • Unutilised credit facilities and cash MSEK 429 150 • Successful rights issue contributed MSEK 140 100 50 0 -50 -100 Operating cash flow, MSEK All numbers in t
Slide 13: Segment performance
Segment performance & Netel
Slide 14: Infraservices
Infraservices Sales & Margin – Q by Q Sales & Margin • Net sales 26.1% to MSEK 169 due to 250 10 Q3 Twelve months higher volumes in line with seasonality 5 200 MSEK 2026 2025 Δ R12M 2025 Δ • EBITA MSEK -2 0 Net sales 169 134 26.1% 644 605 6.5% 150 • EBITA margin -1.2% -5 - Sweden 169 134 26.1% 644 6
Slide 15: Power
Power Sales & Margin – Q by Q Sales & Margin • Net sales 30.1% to MSEK 255 350 15 Q3 Twelve months • Positively impacted by higher volumes 300 in both Sweden and Norway 10 MSEK 2026 2025 Δ 2026 2025 Δ 250 Net sales 255 196 30.1% 1,025 989 3.7% • EBITA MSEK 4 5 200 - Sweden 96 82 17.2% 473 492 -3.8%
Slide 16: Telecom
Telecom Sales & Margin – Q by Q Sales & Margin • Net sales -20.0% to MSEK 258 as a 450 10 Q3 Twelve months result of a quicker than expected 400 market transformation in Norway MSEK 2026 2025 Δ 2026 2025 Δ 350 Net sales 258 322 -20.0% 1,124 1,321 -14.9% • Good growth in Germany 300 5 - Sweden 29 45
Slide 17: We are preparing ourselves for the future
We are preparing ourselves for the future
Slide 18: Summary and adjusted indication for 2026
Summary and adjusted indication for 2026 • Stronger Infraservices and Power volumes and cost- savings lift adjusted EBITA to MSEK 20 (2.9%) • Telecom, adapting to lower installation volumes through service, maintenance and new customers in Norway • Strengthened finances - Operating cash flow of MSEK
Slide 19: Q4 2026 19 February 2027
Q4 2026 19 February 2027 & Netel