Page 1

neïel group INTERIM REPORT JANUARY - SEPTEMBER 2021 Strong performance in third quarter 1 July - 30 September • • • • • • Net sales rose 42.4 per cent to MSEK 614 ( 431 ) , of which organic growth was 9.5 per cent . Adjusted EBITA * amounted to MSEK 40 ( 32 ) and the adjusted EBITA margin * to 6.5 per cent ( 7.5 ) . EBITA amounted to MSEK 33 ( 31 ) and the EBITA margin to 5.3 per cent ( 7.1 ) . Operating profit ( EBIT ) amounted to MSEK 33 ( 31 ) and the operating margin to 5.3 per cent ( 7.1 ) . Cash flow from operating activities amounted to MSEK -49 ( 3 ) . Profit for the period amounted to MSEK 21 ( 19 ) . Earnings per share before and after dilution amounted to SEK 0.60 ( 0.58 ) . 1 January - 30 September 23 Net sales rose 34.0 per cent to MSEK 1,701 ( 1,270 ) , of which organic growth was 11.2 per cent . Adjusted EBITA * amounted to MSEK 111 ( 71 ) and the adjusted EBITA margin * to 6.5 per cent ( 5.6 ) . EBITA amounted to MSEK 90 ( 66 ) and the EBITA margin to 5.3 per cent ( 5.2 ) . Operating profit ( EBIT ) amounted to MSEK 90 ( 64 ) and the operating margin to 5.3 per cent ( 5.0 ) . Cash flow from operating activities amounted to MSEK - 47 ( 30 ) . Profit for the period amounted to MSEK 57 ( 18 ) . Earnings per share before and after dilution amounted to SEK 1.67 ( 0.55 ) . Net debt on 30 September amounted to MSEK 624 ( 488 ) , corresponding to Net debt / Adjusted EBITDA R12 of 2.9 ( 3.4 ) . The order backlog was MSEK 3 429 ( 1995 ) . Significant events during and after the period 1 July - 30 September • Netel in Sweden signed a major agreement for a power station project with Vattenfall . • Netel in Norway signed a major agreement for a station project with Elvia . • Netel in Norway also renewed an agreement for contingency services with Elvia . During the quarter , new offices were opened in Germany - one in Lübbecke and one outside Rostock . Netel Holding AB ( Publ ) was listed on Nasdaq Stockholm on 15 October . There was widespread interest in subscribing for shares among both Swedish and international institutional investors as well as the general public in Sweden , Norway and Finland , and the offering was substantially oversubscribed . In connection with the listing , Netel secured new financing , which together with the proceeds from the completed new share issue was partly used to repay previous financing . Key performance indicators Jul - Sep SEK millions 2021 2020 Jan - Sep 2021 2020 R12 Oct - Sep 2020/2021 Full - year 2020 Net sales 614 Net sales growth ( % ) 42.4 % Adjusted EBITA 40 Adjusted EBITA margin ( % ) 6.5 % 431 -10.0 % 32 7.5 % 1,701 34.0 % 111 6.5 % 1,270 2,276 1,845 -0.7 % 22.5 % -0.9 % 71 5.6 % 174 7.6 % 134 7.3 % EBITA EBITA margin ( % ) 33 5.3 % 31 90 66 144 120 7.1 % 5.3 % 5.2 % 6.3 % 6.5 % EBIT 33 31 90 64 144 119 EBIT margin ( % ) 5.3 % 7.1 % 5.3 % 5.0 % 6.3 % 6.4 % Net debt 624 488 624 488 624 360 Net debt / Adjusted EBITDA R12 ( Ratio ) 2.9 3.4 2.9 3.4 2.9 2.1 * Adjusted EBITA excludes costs for the IPO on Nasdaq Stockholm and for acquisitions .