Instalco AB (publ) (INSTAL) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome everyone to this presentation of Instalco's report for the first quarter of 2025. My name is Robin Bormann and I'm the CEO at Instalco and with me today I have our CFO Kristina Kasperi. Let's kick off as usual with a short summary of the company today. Instalco is one of the leading installation companies in Sweden, Norway and Finland and since quite recently we also have a presence in Germany. Our decentralized model is a key strength, gives our local companies the freedom to act, but also backed with a strong governments and shared tools. Across the group, we have more than 6,000 employees contributing daily to enable the green transformation. Demand for our services continue to be underpinned by powerful long-term market trends. First, a quick glance at our last 12 months figures. Net sales amounted to 13.7 billion and we ended also the quarter with an order backlog of 9 billion which represents a steady book to bill of 66%. When adjusting for one-off costs taken in Q4 and Q1 our EBITDA amounted to 900 million which contributes to a margin of 6.6% compared to 7.6% at the same time last year. We are not satisfied with this obviously and we will continue to take action to improve but in this challenging market when many small and mid-sized companies are going out of business it is a testament to our resilience that we can continue to deliver this type of margin. Part of that resilience can be explained by our quick adaption by our subsidiaries to service, which has covered some of the shortfalls that we have on the project side during the past years. In Q1, service remained at the high level of 36% of our revenues. I'm very pleased to see that our cash flow from operations has held up, coming in at almost the same number as this time last year, even despite ...