Infracom (INFRA) Q1 2025 earnings summary

Executive summary

• Net sales increased by 3% year-over-year to SEK 204.6m in Q1 2025, with a strong adjusted EBIT margin of 13.4%.

• Managed Services showed organic growth, while Communications and Document Solutions saw declines.

• The company transitioned its listing to NGM Nordic SME in March 2025.

• Acquisition of Koneo's bankruptcy estate added SEK 23m in annual revenue and new staff in Sundsvall, Linköping, and Visby.

Financial highlights

• EBIT was SEK 23.9m (SEK 24.1m last year), with an EBIT margin of 11.7% (12.1%).

• Adjusted EBIT margin reached 13.4% (13.1%).

• Net income was SEK 19.4m (SEK 33.9m), and EPS was SEK 0.56 (0.98) before dilution.

• Cash flow from operations was SEK 24.4m (SEK 24.3m).

• Available liquidity at period end was SEK 95.0m, including SEK 10.0m in cash.

Outlook and guidance

• Financial targets: annual revenue growth of 15–20%, EBIT margin of 15% ±2%, and Net Debt/EBITDA below 2.5x.

• Profitability is prioritized over higher growth; growth to be achieved through both acquisitions and organic expansion.