Assemblin Caverion Group Interim Financial Information Q3 2024: Continued solid profitability improvement driven by strong operations, supported by the synergies and efficiencies of the merger

Regulatory disclosure
27 November 2024 at 08:30 CET

“In the third quarter of 2024, we delivered a substantial uplift in profitability largely due to the synergies and efficiencies of the merger of Assemblin and Caverion.”
Mats Johansson, President and CEO

Q3 | July–September 2024 (“the quarter”)

• Net sales for the quarter decreased by 3.5 percent to SEK 9,740 million (10,096), of which 1.2 percentage points were negative organic growth, 0.0 percentage points of acquisition-driven and negative 2.3 percentage points of currency-driven growth.
• Adjusted EBITA increased by 21.8 percent to SEK 691 million (568) compared to the same period last year, and adjusted EBITA margin amounted to 7.1 percent (5.6). Items affecting comparability amounted to SEK 263 million (15).
• EBITA decreased to SEK 428 million (553), and EBITA margin amounted to 4.4 percent (5.5).
• The result for the quarter amounted to SEK 87 million (106), mainly taken down by items affecting comparability and the amortization of PPA (Purchase Price Allocation) related assets, relating primarily to the amortization of the accounting value of the entire of order backlog which under IFRS is recognized as an intangible asset as a result of the formation of the current group in 2023 and addition of Caverion in 2024. The PPA amortizations have no effect on operating results or cash flow and are not a recurring cost item.
• Order intake increased to SEK 9,278 million (8,763).

Q1-Q3 | January–September 2024 (“the period”)

• Net sales for the period decreased by 2.1 percent to SEK 30,955 million (31,616), of which 2.0 percentage points were negative organic growth, 0.6 percentage points of acquisition-driven and negative 0.7 percentage points of currency-driven growth.
• Adjusted EBITA increased by 16.9 percent to SEK 1,908 million (1,632) compared to the same period last year, and adjusted EBITA margin increased to 6.2 percent (5.2). Items affecting comparability amounted to SEK 623 million (202).
• EBITA decreased to SEK 1,285 million (1,430), and EBITA margin amounted to 4.2 percent (4.5).
• The result for the period amounted to SEK 64 million (579), mainly taken down by items affecting comparability and the amortization of PPA (Purchase Price Allocation) related assets, relating primarily to the amortization of the accounting value of the entire of order backlog which under IFRS is recognized as an intangible asset as a result of the formation of the current group in 2023 and addition of Caverion in 2024. The PPA amortizations have no effect on operating results or cash flow and are not a recurring cost item.
• Order intake increased to SEK 31,857 million (31,440).
• Order backlog at the end of the period amounted to SEK 31,508 million (31,482).

Invitation to an investor presentation

On 27 November 2024, at 10:00 CET, the company’s Executive Chairman of the Board of Directors, the President & CEO and CFO will present the developments in the quarter in a webcast.

To access to the webcast, please use this link to register in advance: https://assemblincaveriongroup.videosync.fi/2024-q3

To listen to the presentation by telephone, please use this link to register and receive the conference call details: https://player.videosync.fi/assemblincaveriongroup/2024-q3/dial-in

The presentation material, and a recording of the webcast, will be published on the company’s website at https://www.assemblincaverion.com/investors/financial-reports.

Future reporting dates

• Year-End Report January–December 2024: February 2025
• Annual Report and Sustainability Statement 2024: April 2025
• Q1 Interim Report January–March 2025: May 2025
• Q2 Interim Report January–June 2025: July 2025
• Q3 Interim Report January–September 2025: October 2025

Additional related information

Additional disclosure for holders of Assemblin Caverion Group Senior Secured Notes, is published on the corporate website under the “Investor” tab: https://www.assemblincaverion.com/investors/financial-reports

For further information, contact:

For questions concerning this report, please contact CFO Philip Carlsson (philip.carlsson@assemblin.se, tel. +46 10 475 39 50).

For questions concerning operations in general, contact President and CEO Mats Johansson (mats.e.johansson@assemblin.se, tel. +46 10 475 39 60) or Head of Communications, Sustainability and HR Åsvor Brynnel (asvor.brynnel@assemblin.se, tel. +46 10 475 39 48).

For more information, please visit our website at www.assemblincaverion.com. 

About Assemblin Caverion Group 

Assemblin Caverion Group is a leading northern European technical service and installation company. The Group employs about 21,000 skilled professionals in nine countries, sharing the passion for smart and sustainable solutions. We deliver installations, technical services and solutions along the full lifecycle of the built environment to support our customers and their increasing demand for energy efficiency, sustainability, and automation for buildings, infrastructure and industrial sites. Assemblin Caverion Group was formed in April 2024 through the combination of Assemblin Group and Caverion Corporation. Our combined revenue amounts to approximately SEK 43 billion/ EUR 3.7 billion.  

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