Year-end report January-December 2022
Solid organic and acquisition growth in 2022, margins in Q4 adversely affected by early winter weather – continued excellent operating cash flow
Solid organic and acquisition growth in 2022, margins in Q4 adversely affected by early winter weather – continued excellent operating cash flow
Norva24 will publish its Year End Report January-December 2022 on Friday 24th of February 2023 at 08.00 (CET). Shareholders, investors, analysts and journalists are welcome to attend the company’s presentation in Stockholm or webcast with teleconference at 09.30 (CET) on the same day.
Henrik Damgaard has informed the board of Norva24 Group AB (publ) (“Norva24”) that he has accepted a new job as CEO for a company in another non-competing industry, and he has therefore handed in his resignation today. Henrik will according to plan have his last day as CEO of Norva24 in July 2023. The board will as soon as possible start the process of finding a new CEO of Norva24.
Norva24 has signed an agreement buying 100 % of the shares and assets in NRC Gravco AS and its subsidiary Septik Tank AS together “Gravco”. The acquisition of Gravco further strengthens Norva24´s market position in Underground Infrastructure Maintenance (UIM) in the Greater Oslo and surrounding area. Gravco had a revenue of around NOK 90 million during 2022 with a high margin.
Good organic growth, solid margins and excellent operating cash flow during the third quarter
Norva24 will publish its Interim Report January-September 2022 on Wednesday November 23, 2022 at 08.00 (CET). Shareholders, Investors, analysts and journalists are welcome to attend the company’s presentation in Stockholm or webcast with teleconference at 09.30 (CET) on the same day.
The nomination committee shall, in accordance with the principles for the nomination committee in Norva24 Group AB (publ) (“Norva24”), consist of representatives of the four largest shareholders or shareholder groups, and the Chairman of the Board of Directors. The Nomination Committee for the Annual General Meeting 2023 has been appointed based on the shareholdings as of 31 August 2022 and in accordance with the Nomination Committee instruction.
Norva24 has executed an agreement buying 100 % of the shares and assets in CKS Express Baumanagement GmbH and CKS Rohr Express e.K. (CKS). Following the recent acquisition of Jutzy Haustechnik Service GmbH in Potsdam the acquisition of CKS further strengthens Norva24´s market leading position in Underground Infrastructure Maintenance (UIM) in the Greater Berlin area. CKS had revenue of NOK 38 million (3,8MEUR) in 2021 with a high margin.
Norva24 has signed an agreement to acquire 100% of the shares in Jutzy Haustechnik und Service GmbH ("Jutzy"). The acquisition strengthens Norva24´s market leading position in Underground Infrastructure Maintenance (UIM) in Germany and makes Norva24 a clear UIM leader in the greater Berlin area. Jutzy had revenue of NOK ~150 million (EUR 15 million) in 2021 with a healthy margin.
Strong organic growth in most markets during the second quarter
Norva24 will publish its Interim Report January-June 2022 on Wednesday August 24, 2022 at 08.00 (CEST). Shareholders, Investors, analysts and journalists are welcome to attend the company’s presentation in Oslo or webcast with teleconference at 09.30 (CEST) on the same day.
Dean Zuzic has more than 25 years of experience within finance and management. He is currently CFO of ABL Group ASA listed in Oslo, Norway. During his career he has also held CFO-roles in the two listed companies TGS-NOPEC Geophysical Company ASA and Spectrum ASA and before that he was CFO in Norsk Gjenvinning, Kid Interior and Plantasjen. His career started with McKinsey & Company and early in his career he also worked three years as an equity analyst. Zuzic is Norwegian living in Oslo.
Norva24 AB has acquired 100% of the shares in Stockholm Relining AB. The acquisition will significantly strengthen Norva24 Sweden’s position in the UIM (Underground Infrastructure Maintenance) area of pipe relining with one of the most competent companies in this field in Sweden. In Stockholm, the acquisition complements Norva24’s range of services and makes the company a full-service provider within UIM.
Norva24 Group AB (publ) (“Norva24”) has on [1] July 2022, acquired 100 percent of the shares in Thornvig Jensen A/S and J.S. Overfladebehandling ApS (“TJ”) through its subsidiary NORVA24 Danmark A/S. The strategically important acquisition expands Norva24’s geographic reach in Denmark and fortifies the position as a clear market leader. With the acquisition Norva24 will strengthen its position and improve density in UIM services in the Danish market, including high pressure flushing, sludge suction, pipe cleaning, TV inspection and industrial cleaning services. In 2021, TJ’s revenue amounted to around NOK 46 million with a double-digit EBITA margin. The company is primarily active in the Jutland region and has 20 employees, with its head office in Herning. The acquisition is being financed with Norva24’s cash position.
Norva24 Group AB (publ) held its Annual General Meeting today, Tuesday, 31 May. The Annual General Meeting was conducted by means of only advance voting (so-called postal voting) with the support of temporary legal rules.
As of today 31 May 2022, the total number of shares and votes in Norva24 Group AB (publ) is 182,682,740.
Solid organic growth in most markets during the first quarter
Norva24 will publish its Interim Report January-March 2022 on Tuesday 31 May, 2022 at 08.00 (CEST). Shareholders, Investors, analysts and journalists are welcome to attend the company’s presentation in Stockholm or webcast with teleconference at 09.30 (CEST) on the same day.
The notice to Norva24’s Annual General Meeting on 31 May 2022 was published in a press release on 26 April 2022.
The shareholders of Norva24 Group AB (publ), reg. no. 559226–2553 (“Norva24”), are hereby given notice of the Annual General Meeting to be held on Tuesday, May 31, 2022.
Norva24 Group AB’s Annual and Sustainability Report 2021 is now published in English and is available at the corporate website
Norva24 Group AB (publ) (“Norva24”) has on 5 April 2022, acquired 100 percent of the shares in IRG Rörinspektion AB (“IRG”) through its subsidiary Norva24 AB. The acquisition is strategically important for Norva24’s work to develop new technological solutions within IoT, sensor technology and digital monitoring. With IRG, Norva24 gains access to a well-functioning technological solution for monitoring of underground infrastructure, advanced pipe inspection and flow measurement services, as well as inflow and infiltration (I&I) inspections. In 2021, IRG’s revenue amounted to SEK 36 million, with a growth of ~15 percent annually over the past five years and a double-digit EBITA margin. The company is primarily operative in the Gothenburg region and has around 30 employees, with the Headquarter in Kungsbacka and a branch in Ljungskile. The acquisition is financed with internal funds and through a rights issue of 208,719 shares to the sellers of IRG, corresponding to an amount of SEK 4,500,000.
Due to the bank holidays in late May, Norva24 has decided to change the publication of the interim report for January-March 2022 as well as date for the annual general meeting to May 31, 2022. The previously communicated date was May 25, 2022.
Norva24 has signed an agreement to acquire ROHR FREI SCHNELLDIENST AXEL ZIMMERBEUTEL GmbH („Zimmerbeutel“). Zimmerbeutel is active in the NORVA24 core business Underground Infrastructure Maitenance.
Strong quarter with solid growth – both organic and acquired
Norva24 will publish its Year-end report 2021 on Monday 28 February 2022 at 08.00 (CET). Investors, analysts and journalists are welcome to attend the company’s webcast with teleconference at 09.30 (CET) on the same day.
The nomination committee shall, in accordance with the principles for the nomination committee in Norva24 Group Ab (publ) (“Norva24”), consist of representatives of the four largest shareholders or shareholder groups, and the Chairman of the Board of Directors. The Nomination Committee for the Annual General Meeting 2022 has been appointed based on the shareholdings as of 30 December 2021 and in accordance with the Nomination Committee instruction.
Carnegie Investment Bank (publ) (“Carnegie”) notifies that stabilisation measures have been undertaken in Norva24 Group AB’s (publ) (”Norva24” or the “Company”). The stabilisation period ended 7 January 2022 and no further stabilisation will be carried out. The Over-allotment Option will not be exercised.
Carnegie Investment Bank (publ) (“Carnegie”) notifies that stabilisation measures have been undertaken in Norva24 Group AB’s (publ) (”Norva24” or the “Company”) shares on Nasdaq Stockholm
As of today 30 December 2021, the total number of shares and votes in Norva24 Group AB is 182,474,021.The number of shares and votes has changed as a result of the share issue of 25,555,556 shares that was carried out in connection with the admission to trading of the company's shares on Nasdaq Stockholm on 9 December 2021.For further information, please contact:Sture Stölen, Head of IRTel: +46 723 68 65 07E-mail: sture.stolen@norva24.comThis...
Norva24 has won a contract with Vejle Municipality in Denmark. The contract is for 4 years and has a total estimated value of 15 MNOK. Norva24 has also won a contract with SISAB in Sweden. The contract is over 2 years with an option for another 1 + 1 years and has a total estimated value of approximately up to 18 MNOK if the options are utilized. About Vejle Municipality Vejle municipality is a municipality in the Region of Southern Denmark in...
Carnegie Investment Bank (publ) (“Carnegie”) notifies that stabilisation measures have been undertaken in Norva24 Group AB’s (publ) (”Norva24” or the “Company”) shares on Nasdaq Stockholm
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