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Q1 2024: Solid earnings and good order intake

Regulatory information

First quarter (January–March 2024)

  • Net sales increased by 12.8 percent to SEK 664.9 million (589.3), of which -2.5 percent was organic growth.
  • EBITA increased by 19.9 percent to SEK 55.8 million (46.5), and the EBITA margin increased to 8.4 percent (7.9).
  • EBIT increased by 21.6 percent to SEK 41.5 million (34.1).
  • Cash flow from operating activities amounted to SEK 39.5 million (54.1).
  • OVKservice Syd AB, a well-established company in ventilation inspection and ventilation services in Southern Sweden with annual sales for 2023 of approximately SEK 10 million, was acquired and consolidated.

No significant events have occured after the balance sheet day.

Per-Johan Dahlgren, President & CEO, comments on the first quarter of 2024:
"Novedo starts 2024 with continued solid earnings and a good margin trend. Pro forma sales for R12 months amounted to SEK 2.9 billion, with an EBITA of SEK 313 million at the end of the quarter.

Net sales for the quarter increased by 12.8 percent, driven by acquisitions. Organic growth shows stability but has, to some extent, been negatively affected by Easter falling during the quarter and the fact that the winter period was somewhat longer and colder, which hampered demand for outdoor work.

Novedo sees a generally good order intake in the Group's three business segments: Industry, Infrastructure, and Installation & Services. Overall, Novedo is thus well equipped for solid and positive development as we advance."