January-
- Net sales
EUR 182.0 million (236.6). Total growth -23.1% and organic growth1) in segments -18.7% -
Operative EBITA2)
EUR -0.7 million (-2.1) and operative EBITA margin -0.4% (-0.9) -
Operating result (EBIT)
EUR -0.8 million (-2.2) and EBIT margin -0.4% (-0.9) -
Net result
EUR -2.7 million (-4.8) -
Earnings per share
EUR -0.02 (-0.03), basic and diluted -
Cash flow from operating activities
EUR -17.4 million (-4.7) -
Net debt3)
EUR 89.2 million (133.8)
Significant events during the quarter
- On 22 March,
Eltel signed an agreement to divest its German high voltage business toENACO GmbH , a German service provider in the energy sector. The transaction is expected to close during Q2, 2021.
Key figures | |||
EUR million | Jan- | Jan- | Jan- |
Net sales | 182.0 | 236.6 | 938.0 |
Net sales growth, % | -23.1% | -5.7% | -13.8% |
Operative EBITA2) | -0.7 | -2.1 | 11.4 |
Operative EBITA margin, % | -0.4% | -0.9% | 1.2% |
Operating result (EBIT) | -0.8 | -2.2 | 24.8 |
Return on operative capital employed (ROCE), % | 13.5% | -6.6% | 13.0% |
Net working capital | -4.8 | 0.5 | -25.1 |
Net debt3) | 89.2 | 133.8 | 67.4 |
Number of employees, end of period | 5,330 | 6,652 | 5,449 |
1) Adjusted for divested operations and currency effects. 2) 3) Refers to net debt as defined in financing agreement. See page 10 for calculation and page 22 for definition. |
Comments by the CEO
For the fifth consecutive quarter, we improved our results year-on-year. The Nordic countries delivered according to plan by focusing on operational excellence and good project management and cost control.
As anticipated, net sales continued to decline partly due to the divestments made last year and partly due to lower activity among our customers as a result of COVID-19. Last year's loss of a major service agreement in
We have successfully adjusted the organisation to meet the volume changes, which has contributed to the improved profitability. Thanks to good resource and production planning, we managed to keep our costs down despite the harsh winter conditions. Our continuous efforts to build a solid Nordic platform with a stable underlying business also serves as a base for the improved operative EBITA.
Due to seasonality, net working capital and net debt increased in the quarter, but compared to Q1 2020, we see an improvement, particularly in net debt. The return on operative capital employed continued to improve as a result of our transformation journey and focus on the Nordic countries where we have a market-leading position.
COVID-19 had an impact on
We continue to work on the efficiency improvements in our operations to drive profitability, and we stand by our previously stated financial guidance that we expect our operational EBITA margin for 2021 to improve compared to 2020.
For further information, please contact:
Phone: +358 40 548 3695, saila.miettinen-lahde@eltelnetworks.com
Phone: +46 72 59 54 692, elin.otter@eltelnetworks.com
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