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    INSTAL   SE0017483506

INSTALCO AB (PUBL)

(INSTAL)
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Delayed Nasdaq Stockholm  -  05/20 11:29:40 am EDT
49.46 SEK   -0.61%
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Instalco : acquires energy consulting company

08/24/2021 | 09:31am EDT

Instalco has acquired App Start-Up AB and with that, the company expands its business in the energy sector. App Start-Up is a consulting company focused on the energy sector, specialized in project management and the commissioning of energy plants.

Sales for the most recent financial year were SEK 97 million and it will strengthen Instalco's competence in the energy area.

App Start-Up offers services in the areas of automation, electricity design, electrical power, process control and instrumentation. The company was founded in 1995 and it currently has around 60 employees working at offices at nine locations in Sweden, with the head office in Stockholm.

"The acquisition of App Start-Up strengthens our offering in the energy sector, given the company's vast expertise. The company is an excellent fit with our growing Industrial area, primarily thanks to its expertise in automation and process control. App Start-Up is one of Sweden's largest privately owned consulting companies in the energy sector. It is a very well-run company with a wide geographic market and solid customer base," says Gustaf Larsson Ernefelt, Head of Acquisitions at Instalco.

App Start-Up's customers are primarily energy companies, such as Fortum, EON, Stockholm Exergi, Vattenfall and OKG, but it also has major industrial companies among its customers, including ABB and Siemens.

"We're looking forward to joining the Instalco Group and helping expand the offering and expertise in our area. Joining the Group makes it possible for us to take the next steps in our own growth journey," says Anders Kallin, CEO at App Start-Up.

Instalco will acquire 100 percent of the shares in App Start-Up as 24 August 2021.


For further information

Fredrik Trahn, Head of IR and Communications
phone +46 70 913 67 96, e-mail fredrik.trahn@instalco.se

Instalco is one of the leading installation companies in the Nordic region, active in the areas of heating, plumbing, electricity, cooling, technical consulting and industrial solutions. We offer project planning, design, installation, service and maintenance of systems installed at properties and facilities throughout Sweden, Norway and Finland. The operations are conducted through approximately 95 leading and highly specialised local companies, with the support of a small central organisation. Instalco is listed at Nasdaq Stockholm under the ticker INSTAL. For further information, visit www.instalco.se

https://news.cision.com/instalco/r/instalco-acquires-energy-consulting-company,c3402330

https://mb.cision.com/Main/15570/3402330/1458274.pdf

(c) 2021 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 10 950 M 1 099 M 1 099 M
Net income 2022 581 M 58,3 M 58,3 M
Net Debt 2022 1 349 M 135 M 135 M
P/E ratio 2022 22,9x
Yield 2022 1,48%
Capitalization 12 871 M 1 292 M 1 292 M
EV / Sales 2022 1,30x
EV / Sales 2023 1,17x
Nbr of Employees 5 027
Free-Float 69,6%
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Robin Boheman Chief Executive Officer
Christina Kassberg Chief Financial Officer
Per Wiking Sjöstrand Chairman
Leif Johnny Alvarsson Independent Director
Per Olof Ehrlén Independent Director
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