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    INSTAL   SE0017483506

INSTALCO AB (PUBL)

(INSTAL)
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Instalco expands its heating & plumbing business in Norway

01/03/2022 | 01:01am EDT

Instalco is acquiring Manglerud Rørleggerbedrift AS in Oslo and thereby growing its heating & plumbing operations in Norway. The company is specialized in pipe installations to and from buildings.

It was established in 2006 and currently has 14 employees. Sales for the most recent financial year were NOK 25 million.

"Manglerud's specific niche will be an excellent fit with our other heating and plumbing companies in Instalco Norway. Manglerud typically gets involved during the early stages of a project and we see great opportunities for synergies within the Group," says Roger Aksnes, Business Area Manager for Instalco Norway.

Manglerud already collaborates with many of the other Instalco companies, and its major customers include Veidekke, Skanska, NCC, Backe and AF Gruppen.

"We see this as a door-opener, both for our company and the other Instalco subsidiaries given how well we complement each other," says Allan Nissen, CEO at Manglerud Rørleggerbedrift.

Instalco will acquire 100 percent of the shares in Manglerud Rørleggerbedrift AS in January 2022.

For further information
Fredrik Trahn, Head of IR & 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 100 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-expands-its-heating---plumbing-business-in-norway,c3480574

https://mb.cision.com/Main/15570/3480574/1516398.pdf

(c) 2022 Cision. All rights reserved., source Press Releases - English

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Financials
Sales 2022 10 950 M 1 119 M 1 119 M
Net income 2022 581 M 59,4 M 59,4 M
Net Debt 2022 1 349 M 138 M 138 M
P/E ratio 2022 22,4x
Yield 2022 1,51%
Capitalization 12 555 M 1 283 M 1 283 M
EV / Sales 2022 1,27x
EV / Sales 2023 1,15x
Nbr of Employees 5 027
Free-Float 69,6%
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Christina Kassberg Chief Financial Officer
Per Wiking Sj÷strand Chairman
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