Board Change • Jun 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Therese Lundstedt was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Jun 19
New major risk - Revenue and earnings growth Earnings have declined by 35% per year over the past 5 years. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are declining over an extended period, then in most cases the share price will decline over time unless the company can turn around its fortunes. A trend of falling earnings can be very difficult to turn around. If the company is well already established it may also be a sign the company has matured and is in decline. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (currently running at an operating cash loss). Shares are highly illiquid. Earnings have declined by 35% per year over the past 5 years. Minor Risk Market cap is less than US$100m (kr157.7m market cap, or US$16.4m). Announcement • Jun 17
Netel Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 127.343664 million. Netel Holding AB (publ) has filed a Follow-on Equity Offering in the amount of SEK 127.343664 million.
Security Name: Shares
Security Type: Common Stock
Securities Offered: 36,383,904
Price\Range: SEK 3.5
Transaction Features: Rights Offering Board Change • May 29
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Therese Lundstedt was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • May 14
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Therese Lundstedt was the last independent director to join the board, commencing their role in 2024. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 13
Full year 2025 earnings released: kr1.86 loss per share (vs kr1.32 profit in FY 2024) Full year 2025 results: kr1.86 loss per share (down from kr1.32 profit in FY 2024). Revenue: kr2.92b (down 9.3% from FY 2024). Net loss: kr90.0m (down 241% from profit in FY 2024). Revenue is forecast to grow 1.3% p.a. on average during the next 3 years, compared to a 4.9% growth forecast for the Construction industry in the United Kingdom. Announcement • Apr 09
Netel Holding AB (publ), Annual General Meeting, May 07, 2026 Netel Holding AB (publ), Annual General Meeting, May 07, 2026, at 11:00 W. Europe Standard Time. Location: tandstickspalatset, vastra tradgardsgatan 15, stockholm Sweden Reported Earnings • Feb 10
Full year 2025 earnings released: kr1.86 loss per share (vs kr1.20 profit in FY 2024) Full year 2025 results: kr1.86 loss per share (down from kr1.20 profit in FY 2024). Revenue: kr2.93b (down 11% from FY 2024). Net loss: kr90.0m (down 255% from profit in FY 2024). Revenue is forecast to grow 1.2% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Construction industry in the United Kingdom. Reported Earnings • Oct 26
Third quarter 2025 earnings released: kr1.38 loss per share (vs kr0.17 profit in 3Q 2024) Third quarter 2025 results: kr1.38 loss per share (down from kr0.17 profit in 3Q 2024). Revenue: kr661.0m (down 26% from 3Q 2024). Net loss: kr67.0m (down kr75.0m from profit in 3Q 2024). Revenue is forecast to grow 2.5% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 34% per year but the company’s share price has fallen by 50% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Oct 21
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to kr4.61, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Construction industry in the United Kingdom. Total loss to shareholders of 85% over the past three years. Valuation Update With 7 Day Price Move • Oct 02
Investor sentiment deteriorates as stock falls 43% After last week's 43% share price decline to kr6.14, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 14x in the Construction industry in the United Kingdom. Total loss to shareholders of 70% over the past year. Reported Earnings • Jul 12
Second quarter 2025 earnings released: EPS: kr0.10 (vs kr0.23 in 2Q 2024) Second quarter 2025 results: EPS: kr0.10 (down from kr0.23 in 2Q 2024). Revenue: kr794.0m (down 14% from 2Q 2024). Net income: kr5.00m (down 55% from 2Q 2024). Profit margin: 0.6% (down from 1.2% in 2Q 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 4.7% growth forecast for the Construction industry in the United Kingdom. Over the last 3 years on average, earnings per share has fallen by 16% per year but the company’s share price has fallen by 38% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Jul 03
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr10.67, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 12x in the Construction industry in the United Kingdom. Total loss to shareholders of 75% over the past three years. Announcement • May 22
A group of shareholders acquired 46.70% stake in Netel Holding AB (publ) (OM:NETEL) from Cinnamon International S.à R.l. for approximately SEK 190 million. Etemad Group AB, Tamt AB, S-Bolagen Aktiebolag,Santhe Dahl Invest Ab, Jeanette Reuterskiöld, Bernt Ivarsson, Cicero Fonder and Fredrik Helenius acquired 46.70% stake in Netel Holding AB (publ) (OM:NETEL) from Cinnamon International S.à R.l. for approximately SEK 190 million on May 21, 2025.
Linklaters LLP led by Charlotte Levin acted as legal advisor for Cinnamon International S.à R.l. Polar Advisory acted as Sole Manager and Bookrunner in the Sale.
Etemad Group AB, Tamt AB, S-Bolagen Aktiebolag, Santhe Dahl Invest Ab, Jeanette Reuterskiöld, Bernt Ivarsson, Cicero Fonder and Fredrik Helenius completed the acquisition of 46.70% stake in Netel Holding AB (publ) (OM:NETEL) from Cinnamon International S.à R.l. on May 21, 2025. Board Change • May 21
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. New Risk • Apr 28
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 1.7% Last year net profit margin: 2.8% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risks Interest payments are not well covered by earnings (2.5x net interest cover). Shares are highly illiquid. Minor Risks Profit margins are more than 30% lower than last year (1.7% net profit margin). Market cap is less than US$100m (kr483.2m market cap, or US$49.9m). Reported Earnings • Apr 27
First quarter 2025 earnings released: kr0.082 loss per share (vs kr0.17 loss in 1Q 2024) First quarter 2025 results: kr0.082 loss per share (improved from kr0.17 loss in 1Q 2024). Revenue: kr697.0m (down 2.4% from 1Q 2024). Net loss: kr4.00m (loss narrowed 50% from 1Q 2024). Revenue is forecast to grow 5.8% p.a. on average during the next 3 years, compared to a 4.8% growth forecast for the Construction industry in the United Kingdom. Board Change • Apr 25
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Apr 01
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Feb 10
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Recent Insider Transactions • Nov 14
President & CEO recently bought kr250k worth of stock On the 11th of November, Jeanette Reuterskiöld bought around 18k shares on-market at roughly kr14.20 per share. This transaction amounted to 78% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jeanette's only on-market trade for the last 12 months. Announcement • Nov 08
Netel Holding AB (publ), Annual General Meeting, May 08, 2025 Netel Holding AB (publ), Annual General Meeting, May 08, 2025. Valuation Update With 7 Day Price Move • Nov 01
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to kr17.78, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Construction industry in the United Kingdom. Reported Earnings • Oct 26
Third quarter 2024 earnings released: EPS: kr0.17 (vs kr0.27 in 3Q 2023) Third quarter 2024 results: EPS: kr0.17 (down from kr0.27 in 3Q 2023). Revenue: kr897.0m (flat on 3Q 2023). Net income: kr8.00m (down 39% from 3Q 2023). Profit margin: 0.9% (down from 1.5% in 3Q 2023). Revenue is forecast to grow 7.4% p.a. on average during the next 3 years, compared to a 5.0% growth forecast for the Construction industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jul 30
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to kr21.00, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Construction industry in the United Kingdom. Total returns to shareholders of 77% over the past year. Reported Earnings • Jul 13
Second quarter 2024 earnings released: EPS: kr0.23 (vs kr0.062 in 2Q 2023) Second quarter 2024 results: EPS: kr0.23 (up from kr0.062 in 2Q 2023). Revenue: kr930.0m (up 8.0% from 2Q 2023). Net income: kr11.0m (up 267% from 2Q 2023). Profit margin: 1.2% (up from 0.3% in 2Q 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 7.3% p.a. on average during the next 3 years, compared to a 4.5% growth forecast for the Construction industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jun 19
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr17.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 10x in the Construction industry in the United Kingdom. Total returns to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr17.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr17.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 36% over the past year. Valuation Update With 7 Day Price Move • Jun 18
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to kr17.60, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Total returns to shareholders of 36% over the past year. Board Change • Jun 05
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Apr 26
First quarter 2024 earnings released: kr0.17 loss per share (vs kr0.19 loss in 1Q 2023) First quarter 2024 results: kr0.17 loss per share (improved from kr0.19 loss in 1Q 2023). Revenue: kr715.0m (up 4.5% from 1Q 2023). Net loss: kr8.00m (loss narrowed 11% from 1Q 2023). Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Construction industry in the United Kingdom. Reported Earnings • Apr 07
Full year 2023 earnings released: EPS: kr0.91 (vs kr2.58 in FY 2022) Full year 2023 results: EPS: kr0.91 (down from kr2.58 in FY 2022). Revenue: kr3.46b (up 10% from FY 2022). Net income: kr44.0m (down 64% from FY 2022). Profit margin: 1.3% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 3.2% growth forecast for the Construction industry in the United Kingdom. Recent Insider Transactions • Mar 01
Director recently bought kr92k worth of stock On the 27th of February, Alireza Etemad bought around 7k shares on-market at roughly kr12.50 per share. This trade did not impact their existing holding. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought kr1.4m more in shares than they have sold in the last 12 months. Reported Earnings • Feb 20
Full year 2023 earnings released: EPS: kr0.91 (vs kr2.58 in FY 2022) Full year 2023 results: EPS: kr0.91 (down from kr2.58 in FY 2022). Revenue: kr3.46b (up 10% from FY 2022). Net income: kr44.0m (down 64% from FY 2022). Profit margin: 1.3% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.3% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Construction industry in the United Kingdom. Reported Earnings • Feb 18
Full year 2023 earnings released: EPS: kr0.91 (vs kr2.58 in FY 2022) Full year 2023 results: EPS: kr0.91 (down from kr2.58 in FY 2022). Revenue: kr3.49b (up 11% from FY 2022). Net income: kr44.0m (down 64% from FY 2022). Profit margin: 1.3% (down from 3.9% in FY 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 7.1% p.a. on average during the next 3 years, compared to a 2.6% growth forecast for the Construction industry in the United Kingdom. Valuation Update With 7 Day Price Move • Jan 30
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to kr13.75, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Announcement • Jan 26
Netel Holding AB (publ) Appoints Fredrik Helenius as CFO Netel Holding AB (publ) announced that Fredrik Helenius has been appointed as the new CFO. Fredrik has been Group Accounting Manager since 2020 and was appointed acting CFO on 10 January 2024. Before Fredrik Helenius joined Netel Group as Group Accounting Manager in 2020, he worked as a consultant at BCG and as a consultant in accounting and tax, among other things. Fredrik Helenius has a master's degree from the Stockholm School of Economics and is born 1990. Announcement • Jan 10
Netel Holding AB (Publ) Announces CFO Changes Peter Andersson has chosen to end his employment as CFO of Netel Group. Fredrik Helenius, Group Accounting Manager, assumes the role as acting CFO with immediate effect. Before Fredrik Helenius joined Netel Group as Group Accounting Manager in 2020, he worked as a consultant at BCG and as a consultant in accounting and tax, among other things. Fredrik Helenius has a master's degree from the Stockholm School of Economics. The process to appoint a regular CFO starts immediately. Announcement • Dec 21
Hans Petersson Declines Re-Election as Chairperson of Netel Group AB’s Board of Directors Hans Petersson has declined re-election as Chairperson of Netel Group AB’s (Netel) Board of Directors. He will remain as Chairperson of the Board until the next Annual General Meeting in May 2024. The Nomination Committee of Netel proposes that Alireza Etemad be appointed Chairperson at the Annual General Meeting in May 2024. Alireza Etemad has been a member of the Netel Board of Directors since 2016. The Nomination Committee of Netel comprises representatives of four of the company’s largest shareholders and the Chairperson of the Board, Hans Petersson. The members representing the shareholders are Alireza Etemad (IK Partners), Celia Grip (Swedbank Robur Fonder), Andreas Berdal Lorentzen (Delphi Fondsforvaltning) and Peter Magnusson (Cicero Fonder). The Nomination Committee’s complete proposals will be announced in due time before the Annual General Meeting 2024. Valuation Update With 7 Day Price Move • Dec 11
Investor sentiment improves as stock rises 46% After last week's 46% share price gain to kr14.15, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Valuation Update With 7 Day Price Move • Nov 23
Investor sentiment improves as stock rises 36% After last week's 36% share price gain to kr9.68, the stock trades at a forward P/E ratio of 5x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Valuation Update With 7 Day Price Move • Oct 13
Investor sentiment deteriorates as stock falls 32% After last week's 32% share price decline to kr7.13, the stock trades at a forward P/E ratio of 3x. Average forward P/E is 9x in the Construction industry in the United Kingdom. Simply Wall St's valuation model estimates the intrinsic value at kr12.81 per share. Recent Insider Transactions • Jul 20
Interim CEO & Director recently bought kr200k worth of stock On the 17th of July, Jeanette Reuterskiöld bought around 17k shares on-market at roughly kr12.00 per share. This transaction increased Jeanette's direct individual holding by 6x at the time of the trade. In the last 3 months, there was an even bigger purchase from another insider worth kr948k. This was Jeanette's only on-market trade for the last 12 months. Reported Earnings • Jul 14
Second quarter 2023 earnings released: EPS: kr0.062 (vs kr0.61 in 2Q 2022) Second quarter 2023 results: EPS: kr0.062 (down from kr0.61 in 2Q 2022). Revenue: kr862.0m (up 15% from 2Q 2022). Net income: kr3.00m (down 90% from 2Q 2022). Profit margin: 0.3% (down from 3.9% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 6.7% p.a. on average during the next 3 years, compared to a 3.1% growth forecast for the Construction industry in the United Kingdom. Announcement • Jul 14
Netel Holding AB (Publ) Provides Earnings Guidance for the Year 2023 Netel Holding AB (publ) provided earnings guidance for the year 2023. The company expects at least 10% growth for the full-year 2023, which is line with the financial growth target. New Risk • Jun 21
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: kr608.8m (US$56.4m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. Currently, the following risks have been identified for the company: Major Risks Debt is not well covered by operating cash flow (1.8% operating cash flow to total debt). Shares are highly illiquid. Minor Risks Shareholders have been diluted in the past year (2.1% increase in shares outstanding). Market cap is less than US$100m (kr608.8m market cap, or US$56.4m). Announcement • Jan 21
Netel Holding AB (publ) (OM:NETEL) entered into agreement to acquire 100% stake in Elektrotjanst I Katrineholm Ab. Netel Holding AB (publ) (OM:NETEL) entered into agreement to acquire 100% stake in Elektrotjanst I Katrineholm Ab on January 20, 2023. The purchase price is paid in cash and through the offset issue of 303,294 shares in Netel Holding. The acquired business had a turnover of approximately SEK 69 million in the fiscal year September 2021-August 2022. The company has 34 employees. Board Change • Oct 20
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Board Change • Jun 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 5 non-independent directors. Independent Director Nina Macpherson was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 12
Netel Holding AB (publ) to Report Fiscal Year 2022 Results on Feb 16, 2023 Netel Holding AB (publ) announced that they will report fiscal year 2022 results on Feb 16, 2023 