Cash flow Instalco AB

Equities

INSTAL

SE0017483506

Construction & Engineering

Market Closed - Nasdaq Stockholm Other stock markets 12:00:00 2026-02-09 pm EST			5-day change	1st Jan Change
26.06 ^SEK	-2.47%		+2.12%	+0.70%

Feb. 04	DNB Carnegie Brokers Two Major Internal Blocks in Instalco	FW
Jan. 27	Instalco Lands SEK130 Million Heating, Plumbing Installations Order in Sweden	MT

316e2bc4fb84964d7d.8TK5bGiBxsYDnw7HPXBV6b8hM1qpN5AORCF3ppG5Iho.vWPYH1r5iql0zFaVDj8Q2NloAAKcb_U5HVgTlevKfV-iR_4eC9Hyr0L8Vw

Published financial data: INSTALCO AB

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2020	2021	2022	2023	2024
Revenues	7.12B	8.89B	12.06B	14.28B	13.69B
Other Revenues, Total	-1M	-	1M	-	-
Total Revenues	7.12B	8.89B	12.06B	14.28B	13.69B
Cost of Goods Sold, Total	3.72B	4.55B	6.19B	7.22B	6.46B
Gross Profit	3.4B	4.34B	5.88B	7.06B	7.23B
Selling General & Admin Expenses, Total	2.67B	3.5B	4.77B	5.74B	6.08B
Depreciation & Amortization - (IS)	135M	198M	381M	517M	560M
Amortization of Goodwill and Intangible Assets - (IS)	-	-	-	-	-
Other Operating Expenses	-33M	-89M	-48M	-79M	-95M
Other Operating Expenses, Total	2.77B	3.6B	5.11B	6.18B	6.54B
Operating Income	627M	733M	772M	884M	692M
Interest Expense, Total	-13M	-15M	-50M	-151M	-255M
Interest And Investment Income	23M	23M	38M	93M	51M
Net Interest Expenses	10M	8M	-12M	-58M	-204M
Currency Exchange Gains (Loss)	-12M	-17M	-56M	-20M	-
Other Non Operating Income (Expenses)	-6M	-13M	-21M	-29M	1M
EBT, Excl. Unusual Items	619M	711M	683M	777M	489M
Merger & Related Restructuring Charges	-10M	-11M	-12M	-8M	-9M
Impairment of Goodwill	-	-	-	-	-29M
Gain (Loss) On Sale Of Assets	-	-	-	-	-
Other Unusual Items	-14M	-	25M	23M	35M
EBT, Incl. Unusual Items	595M	700M	696M	792M	486M
Income Tax Expense	133M	142M	145M	177M	122M
Earnings From Continuing Operations	462M	558M	551M	615M	364M
Net Income to Company	462M	558M	551M	615M	364M
Minority Interest	-6M	-12M	-31M	-14M	-19M
Net Income - (IS)	456M	546M	520M	601M	345M
Preferred Dividend and Other Adjustments	-	-	-	-	-
Net Income to Common Incl Extra Items	456M	546M	520M	601M	345M
Net Income to Common Excl. Extra Items	456M	546M	520M	601M	345M
Per Share Items
Net EPS - Basic	1.8	2.1	2	2.29	1.31
Basic EPS - Continuing Operations	1.8	2.1	2	2.29	1.31
Basic Weighted Average Shares Outstanding	253M	260M	261M	263M	264M
Net EPS - Diluted	1.76	2.06	1.96	2.26	1.31
Diluted EPS - Continuing Operations	1.76	2.06	1.96	2.26	1.31
Diluted Weighted Average Shares Outstanding	259M	265M	266M	266M	264M
Normalized Basic EPS	1.51	1.66	1.52	1.8	1.09
Normalized Diluted EPS	1.47	1.63	1.49	1.77	1.09
Dividend Per Share	0.54	0.65	0.66	0.68	0.68
Payout Ratio	25.22	25.82	32.5	28.62	51.88
Supplemental Items
EBITDA	642M	779M	946M	1.14B	957M
EBITA	629M	760M	906M	1.08B	883M
EBIT	627M	733M	772M	884M	692M
EBITDAR	-	813M	1.05B	1.21B	1.01B
Total Revenues (As Reported)	7.18B	9B	12.18B	14.4B	13.82B
Effective Tax Rate - (Ratio)	22.35	20.29	20.83	22.35	25.1
Total Current Taxes	113M	125M	142M	221M	178M
Total Deferred Taxes	20M	17M	3M	-44M	-56M
Normalized Net Income	381M	432M	396M	472M	287M
Interest on Long-Term Debt	13M	7M	9M	13M	27M
Supplemental Operating Expense Items
Net Rental Expense, Total	-	34M	104M	67M	56M
Imputed Operating Lease Interest Expense	-	2.25M	15.22M	23.65M	30.98M
Imputed Operating Lease Depreciation	-	31.75M	88.78M	43.35M	25.02M

Fiscal Period: December	2020	2021	2022	2023	2024
Assets
Cash And Equivalents	386M	695M	631M	267M	208M
Short Term Investments	-	1M	-	-	-
Total Cash And Short Term Investments	386M	696M	631M	267M	208M
Accounts Receivable, Total	1.4B	1.97B	2.51B	2.72B	2.59B
Other Receivables	97M	127M	177M	168M	158M
Total Receivables	1.5B	2.09B	2.69B	2.89B	2.75B
Inventory	62M	104M	159M	202M	209M
Prepaid Expenses	107M	101M	158M	271M	204M
Other Current Assets, Total	-	1M	-	-	-2M
Total Current Assets	2.05B	3B	3.64B	3.63B	3.37B
Gross Property Plant And Equipment	601M	871M	1.21B	1.76B	1.92B
Accumulated Depreciation	-237M	-333M	-461M	-644M	-831M
Net Property Plant And Equipment	364M	538M	746M	1.11B	1.09B
Long-term Investments	7M	21M	22M	63M	39M
Goodwill	2.78B	3.85B	4.61B	5.29B	5.3B
Other Intangibles, Total	10M	176M	543M	596M	451M
Deferred Tax Assets Long-Term	7M	2M	5M	22M	53M
Other Long-Term Assets, Total	6M	9M	11M	7M	9M
Total Assets	5.23B	7.59B	9.57B	10.72B	10.31B
Liabilities
Accounts Payable, Total	588M	788M	1.04B	1.05B	905M
Accrued Expenses, Total	447M	542M	634M	740M	733M
Current Portion of Long-Term Debt	-	4M	4M	6M	6M
Current Portion of Leases	103M	137M	181M	232M	263M
Current Income Taxes Payable	40M	33M	16M	71M	82M
Unearned Revenue Current, Total	349M	403M	461M	549M	528M
Other Current Liabilities	420M	791M	524M	648M	625M
Total Current Liabilities	1.95B	2.7B	2.86B	3.3B	3.14B
Long-Term Debt	980M	1.9B	2.57B	2.97B	2.98B
Long-Term Leases	210M	295M	372M	507M	411M
Deferred Tax Liability Non Current	119M	192M	320M	385M	358M
Other Non Current Liabilities	-	-	298M	164M	40M
Total Liabilities	3.26B	5.09B	6.42B	7.33B	6.93B
Common Stock, Total	1M	1M	1M	1M	1M
Additional Paid In Capital	942M	996M	996M	1.13B	1.13B
Retained Earnings	1.08B	1.48B	1.83B	2.08B	2.07B
Comprehensive Income and Other	-68M	0	117M	0	10M
Total Common Equity	1.96B	2.48B	2.94B	3.21B	3.21B
Minority Interest	12M	19M	208M	183M	173M
Total Equity	1.97B	2.5B	3.15B	3.39B	3.38B
Total Liabilities And Equity	5.23B	7.59B	9.57B	10.72B	10.31B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	260M	250M	260M	264M	264M
ECS Total Common Shares Outstanding	260M	250M	260M	264M	264M
Book Value / Share	7.55	9.92	11.31	12.16	12.16
Tangible Book Value	-830M	-1.54B	-2.21B	-2.68B	-2.54B
Tangible Book Value Per Share	-3.2	-6.16	-8.49	-10.15	-9.64
Total Debt	1.29B	2.34B	3.13B	3.72B	3.66B
Net Debt	907M	1.64B	2.5B	3.45B	3.45B
Debt Equivalent Oper. Leases	-	272M	832M	536M	448M
Minority Interest, Total (Incl. Fin. Div)	12M	19M	208M	183M	173M
Equity Method Investments, Total	4M	10M	8M	14M	6M
Account Code - Inventory Valuation	5	5	5	5	3
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Finished Goods, Total	62M	104M	159M	202M	209M
Machinery, Total	61M	-	-	-	-
Full Time Employees	3.86K	4.89K	5.61K	6.28K	6.2K
Accumulated Allowance for Doubtful Accounts (Supple)	41M	21M	32M	24M	72M
Order Backlog	6.62B	6.8B	8.38B	8.44B	9B

Fiscal Period: December	2020	2021	2022	2023	2024
Net Income	456M	546M	520M	601M	345M
Depreciation & Amortization - CF	133M	171M	248M	327M	397M
Amortization of Goodwill and Intangible Assets - (CF)	2M	27M	134M	191M	191M
Depreciation & Amortization, Total	135M	198M	382M	518M	588M
(Gain) Loss From Sale Of Asset	-2M	-	-	-	-
(Gain) Loss on Sale of Investments - (CF)	-7M	-	-	-	-
Asset Writedown & Restructuring Costs	-	-	-	-	29M
Provision and Write-off of Bad Debts	25M	-7M	21M	12M	69M
Other Operating Activities, Total	9M	3M	-33M	-85M	-49M
Change In Accounts Receivable	-28M	-195M	-263M	-67M	150M
Change In Inventories	-3M	-5M	-28M	-36M	-4M
Change In Accounts Payable	104M	70M	154M	56M	-182M
Change in Other Net Operating Assets	-	-	-	-	-
Cash from Operations	689M	610M	753M	999M	946M
Capital Expenditure	-14M	-23M	-54M	-82M	-121M
Sale of Property, Plant, and Equipment	8M	15M	20M	22M	21M
Cash Acquisitions	-582M	-953M	-1.04B	-1.19B	-197M
Sale (Purchase) of Intangible assets	-3M	-3M	-10M	-27M	-4M
Investment in Marketable and Equity Securities, Total	6M	-6M	7M	-14M	4M
Other Investing Activities, Total	1M	-1M	-	-	-
Cash from Investing	-584M	-971M	-1.08B	-1.29B	-297M
Long-Term Debt Issued, Total	70M	917M	3.53B	650M	600M
Total Debt Issued	70M	917M	3.53B	650M	600M
Long-Term Debt Repaid, Total	-193M	-160M	-3.11B	-621M	-936M
Total Debt Repaid	-193M	-160M	-3.11B	-621M	-936M
Issuance of Common Stock	222M	53M	-	80M	-
Repurchase of Common Stock	-14M	-	-	-31M	-
Common Dividends Paid	-115M	-141M	-169M	-172M	-179M
Common & Preferred Stock Dividends Paid	-115M	-141M	-169M	-172M	-179M
Other Financing Activities, Total	18M	-12M	-10M	9M	-191M
Cash from Financing	-12M	657M	240M	-85M	-706M
Foreign Exchange Rate Adjustments	-22M	12M	22M	11M	-3M
Miscellaneous Cash Flow Adjustments	-1M	1M	1M	-	1M
Net Change in Cash	70M	309M	-64M	-364M	-59M
Supplemental Items
Cash Interest Paid	17M	21M	53M	164M	191M
Cash Income Tax Paid (Refund)	125M	150M	214M	191M	157M
Levered Free Cash Flow	656M	702M	184M	895M	749M
Unlevered Free Cash Flow	664M	711M	216M	990M	908M
Change In Net Working Capital	-154M	-81M	585M	-28M	-13M
Net Debt Issued / Repaid	-123M	757M	419M	29M	-336M

Fiscal Period: December	2020	2021	2022	2023	2024
Profitability
Return on Assets	8.33	7.15	5.62	5.45	4.11
Return on Total Capital	13.21	11.3	8.68	8.26	6.11
Return On Equity %	26.74	24.95	19.49	18.8	10.75
Return on Common Equity	26.5	24.58	19.17	19.54	10.75
Margin Analysis
Gross Profit Margin %	47.76	48.8	48.72	49.47	52.84
SG&A Margin	37.52	39.32	39.56	40.21	44.39
EBITDA Margin %	9.02	8.76	7.84	7.98	6.99
EBITA Margin %	8.83	8.55	7.51	7.53	6.45
EBIT Margin %	8.8	8.25	6.4	6.19	5.05
Income From Continuing Operations Margin %	6.49	6.28	4.57	4.31	2.66
Net Income Margin %	6.4	6.14	4.31	4.21	2.52
Net Avail. For Common Margin %	6.4	6.14	4.31	4.21	2.52
Normalized Net Income Margin	5.35	4.86	3.28	3.3	2.09
Levered Free Cash Flow Margin	9.21	7.89	1.53	6.27	5.47
Unlevered Free Cash Flow Margin	9.32	8	1.79	6.93	6.64
Asset Turnover
Asset Turnover	1.51	1.39	1.41	1.41	1.3
Fixed Assets Turnover	22.93	19.71	18.79	15.36	12.43
Receivables Turnover (Average Receivables)	5.48	5.28	5.39	5.46	5.16
Inventory Turnover (Average Inventory)	69.53	54.84	47.04	39.97	31.42
Short Term Liquidity
Current Ratio	1.05	1.11	1.27	1.1	1.07
Quick Ratio	0.97	1.03	1.16	0.96	0.94
Operating Cash Flow to Current Liabilities	0.35	0.23	0.26	0.3	0.3
Days Sales Outstanding (Average Receivables)	66.76	69.16	67.75	66.84	70.98
Days Outstanding Inventory (Average Inventory)	5.26	6.66	7.76	9.13	11.65
Average Days Payable Outstanding	49.36	54.66	53.51	52.65	55.41
Cash Conversion Cycle (Average Days)	22.66	21.15	21.99	23.32	27.22
Long Term Solvency
Total Debt/Equity	65.57	93.52	99.18	109.65	108.13
Total Debt / Total Capital	39.6	48.33	49.79	52.3	51.95
LT Debt/Equity	60.34	87.88	93.31	102.63	100.18
Long-Term Debt / Total Capital	36.45	45.41	46.85	48.95	48.13
Total Liabilities / Total Assets	62.28	67.04	67.07	68.36	67.2
EBIT / Interest Expense	48.23	48.87	15.44	5.85	2.71
EBITDA / Interest Expense	58.62	62.07	23.08	9.28	5.02
(EBITDA - Capex) / Interest Expense	57.54	60.53	22	8.74	4.55
Total Debt / EBITDA	1.7	2.51	2.71	2.65	2.86
Net Debt / EBITDA	1.19	1.76	2.16	2.46	2.69
Total Debt / (EBITDA - Capex)	1.73	2.58	2.84	2.82	3.16
Net Debt / (EBITDA - Capex)	1.21	1.81	2.27	2.61	2.98
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	25.11	24.82	35.7	18.37	-4.12
Gross Profit, 1 Yr. Growth %	23.45	27.51	35.5	20.2	2.41
EBITDA, 1 Yr. Growth %	25.64	21.15	26.47	20.53	-16.27
EBITA, 1 Yr. Growth %	25.8	20.83	24.28	18.78	-18.16
EBIT, 1 Yr. Growth %	25.65	16.72	9.97	14.66	-22.07
Earnings From Cont. Operations, 1 Yr. Growth %	24.19	20.78	-1.25	11.62	-40.81
Net Income, 1 Yr. Growth %	23.24	19.74	-4.76	15.58	-42.6
Normalized Net Income, 1 Yr. Growth %	27.81	13.52	-4.15	19.13	-39.55
Diluted EPS Before Extra, 1 Yr. Growth %	20.41	17.29	-4.85	15.31	-42.2
Accounts Receivable, 1 Yr. Growth %	17.22	40.3	27.66	8.28	-4.71
Inventory, 1 Yr. Growth %	37.78	67.74	52.88	27.04	3.47
Net Property, Plant and Equip., 1 Yr. Growth %	41.63	47.8	38.66	49.2	-2.16
Total Assets, 1 Yr. Growth %	25.19	45.16	26.14	11.94	-3.79
Tangible Book Value, 1 Yr. Growth %	16.74	85.66	43.35	21.19	-5.01
Common Equity, 1 Yr. Growth %	32.25	26.63	18.61	8.93	0.06
Cash From Operations, 1 Yr. Growth %	39.19	-11.47	23.44	32.67	-5.31
Capital Expenditures, 1 Yr. Growth %	40	64.29	134.78	51.85	47.56
Levered Free Cash Flow, 1 Yr. Growth %	51.05	6.91	-73	387.47	-16.54
Unlevered Free Cash Flow, 1 Yr. Growth %	49.9	7.02	-68.85	360.5	-8.42
Dividend Per Share, 1 Yr. Growth %	17.39	20.37	1.54	3.03	0
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	27	24.97	30.15	26.74	6.53
Gross Profit, 2 Yr. CAGR %	26.66	25.48	31.45	27.61	10.95
EBITDA, 2 Yr. CAGR %	34.86	23.47	21.29	23.4	0.63
EBITA, 2 Yr. CAGR %	35.22	23.29	20.02	21.43	-1.22
EBIT, 2 Yr. CAGR %	35.01	21.2	10.87	12.22	-5.26
Earnings From Cont. Operations, 2 Yr. CAGR %	36.21	22.47	9.21	4.98	-18.72
Net Income, 2 Yr. CAGR %	35.33	21.48	6.79	4.92	-18.55
Normalized Net Income, 2 Yr. CAGR %	36.51	20.45	1.95	6.86	-14.91
Diluted EPS Before Extra, 2 Yr. CAGR %	31.28	18.84	5.59	4.74	-18.36
Accounts Receivable, 2 Yr. CAGR %	24.6	28.24	33.83	17.57	1.58
Inventory, 2 Yr. CAGR %	46.22	52.02	60.14	39.37	14.65
Net Property, Plant and Equip., 2 Yr. CAGR %	45.9	44.69	43.16	43.83	20.82
Total Assets, 2 Yr. CAGR %	31.66	34.81	35.32	18.83	3.78
Tangible Book Value, 2 Yr. CAGR %	27.07	47.22	63.14	31.8	7.29
Common Equity, 2 Yr. CAGR %	35.41	29.41	22.56	13.67	4.4
Cash From Operations, 2 Yr. CAGR %	42.77	11.01	4.54	27.97	12.09
Capital Expenditures, 2 Yr. CAGR %	41.42	51.66	96.4	88.82	49.69
Levered Free Cash Flow, 2 Yr. CAGR %	63.39	27.14	-47.02	14.53	101.98
Unlevered Free Cash Flow, 2 Yr. CAGR %	61.35	26.72	-43.05	19.6	105.62
Dividend Per Share, 2 Yr. CAGR %	34.16	18.87	10.55	2.28	1.5
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	31.75	26.28	28.45	26.1	15.48
Gross Profit, 3 Yr. CAGR %	30.65	26.96	28.74	27.58	18.58
EBITDA, 3 Yr. CAGR %	35.16	30.19	22.79	21	8.56
EBITA, 3 Yr. CAGR %	35.29	30.24	21.91	19.56	6.6
EBIT, 3 Yr. CAGR %	35.15	28.68	15.66	12.07	-0.48
Earnings From Cont. Operations, 3 Yr. CAGR %	39.28	30.86	13.99	10	-13.27
Net Income, 3 Yr. CAGR %	38.67	29.92	12.01	9.64	-14.19
Normalized Net Income, 3 Yr. CAGR %	37.19	28.37	9.93	7.38	-11.46
Diluted EPS Before Extra, 3 Yr. CAGR %	35.41	26.44	10.31	8.73	-14.09
Accounts Receivable, 3 Yr. CAGR %	26.6	29.63	28.05	24.71	9.62
Inventory, 3 Yr. CAGR %	64.22	53.07	52.31	48.25	26.19
Net Property, Plant and Equip., 3 Yr. CAGR %	167.58	46.53	42.65	45.14	26.5
Total Assets, 3 Yr. CAGR %	31.54	36.01	31.85	27.03	10.75
Tangible Book Value, 3 Yr. CAGR %	20.96	44.19	45.92	47.75	18.17
Common Equity, 3 Yr. CAGR %	35.21	32.42	25.71	17.84	8.94
Cash From Operations, 3 Yr. CAGR %	62.69	21.75	15.01	13.18	15.75
Capital Expenditures, 3 Yr. CAGR %	40.95	48.67	75.44	80.26	73.92
Levered Free Cash Flow, 3 Yr. CAGR %	68.48	41.9	-24.85	10.89	3.16
Unlevered Free Cash Flow, 3 Yr. CAGR %	66.92	40.76	-21.35	14.19	9.51
Dividend Per Share, 3 Yr. CAGR %	34.89	29.4	12.79	7.99	1.52
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	39.07	29.86	31.11	26.46	19.19
Gross Profit, 5 Yr. CAGR %	40.77	32.93	30.98	27.22	21.3
EBITDA, 5 Yr. CAGR %	66.18	40.16	29.47	26.4	13.37
EBITA, 5 Yr. CAGR %	66.67	40.26	28.96	25.59	12.05
EBIT, 5 Yr. CAGR %	66.56	39.25	24.9	20.78	6.76
Earnings From Cont. Operations, 5 Yr. CAGR %	68.43	43.72	26.37	19.82	-0.43
Net Income, 5 Yr. CAGR %	67.99	43.1	24.91	19.27	-1.39
Normalized Net Income, 5 Yr. CAGR %	67.68	39.28	21.83	18.2	-0.78
Diluted EPS Before Extra, 5 Yr. CAGR %	60.49	40.4	22.59	17.25	-2.2
Accounts Receivable, 5 Yr. CAGR %	34.36	33.67	29.44	24.66	16.72
Inventory, 5 Yr. CAGR %	76.41	76.92	62.58	47.43	35.95
Net Property, Plant and Equip., 5 Yr. CAGR %	126.27	110.56	108.35	45.45	33.48
Total Assets, 5 Yr. CAGR %	40.13	37.84	33.04	28.86	19.81
Tangible Book Value, 5 Yr. CAGR %	27.3	41.36	36.33	39.1	29.03
Common Equity, 5 Yr. CAGR %	49.05	35.03	30	24.57	16.71
Cash From Operations, 5 Yr. CAGR %	56.37	21.54	36.31	24.2	13.83
Capital Expenditures, 5 Yr. CAGR %	32.02	35.69	60.95	63.58	64.65
Levered Free Cash Flow, 5 Yr. CAGR %	54.06	29.45	6.09	29.52	11.53
Unlevered Free Cash Flow, 5 Yr. CAGR %	55.28	29.05	8.59	31.15	15.45
Dividend Per Share, 5 Yr. CAGR %	-	-	24.57	17.78	8.13