MastIT Group concludes 2024—another successful year—in which we exceeded our long-term growth target with 16% growth versus the objective of 15%. A very strong finish to the year, with Q4 revenue of SEK 46 million, enabled us to close the year at SEK 155 million, a record for the Group. The EBITA margin for the year also exceeded our target, amounting to 20% for full-year 2024.

The Group’s EBITA for the year was SEK 31 million (SEK 28 million), reflecting high growth alongside sustained profitability. This performance was driven by a consistently strong cost structure and an increased share of work performed by in-house personnel, allowing a larger portion of the margin to be retained within the Group. Projects executed during the year had a higher degree of self-performed work relative to partners, yielding higher margins. The Company is actively working to further increase the share of in-house execution within the MastIT Group through strategic acquisitions and organic recruitment.

The Company operates in a market with well-supported growth, where the need for expanded capacity and infrastructure for mobile communications will continue to increase in the years ahead, not least driven by the rollout of 5G. Cash flow from operating activities after changes in working capital amounted to SEK 3,027 thousand (SEK 41,798 thousand). The lower operating cash flow is mainly due to a large share of Q4 invoicing occurring at year-end, with the corresponding cash inflow recognized at the beginning of 2025. At year-end, the Group had 32 (25)employees, and over the year the workforce reached up to 100 FTEs at times.

Our strategic work to cultivate new customers and markets—while nurturing and developing existing business—has delivered results. MastIT Group has built a broader customer portfolio than ever while maintaining strong profitability. We continue to demonstrate the scalability and effectiveness of our business model, delivering steady growth in line with our financial targets. During the year, customer development focused not only on private operators but also on public network owners, as well as expanding our network and collaborations with major engineering consultancies. Our offering, combined with our efficient delivery model aimed at new customer segments, is expected to be a significant growth driver in the coming year. Both industry and the public sector are set to invest substantial amounts in new communications networks over the next few years. A key element in many future contracts will be assuming end-to-end responsibility for our customers, and we see considerable potential to evolve our business model toward becoming a full-service provider in mobile communications—to the clear benefit of our customers.

Delivery reliability and quality create satisfied customers. During the year, MastIT Group invested in enhanced administrative functions and increased project resources—without compromising profitability, quality, or delivery reliability. These investments will benefit us in the years ahead and provide the conditions to continue delivering top quality while meeting our customers’ rising expectations for reliable delivery as we grow. As evidence of this, we receive high customer ratings, underscoring the long-term strength of our business.

MastIT Group enters 2025 with favorable prospects, supported by a strong order intake where both confirmed orders and solid customer forecasts provide a firm foundation for continued growth. With this backdrop, and as we continue broadening our offering to both existing and new customers and expanding our customer base, the outlook is very positive in both the short and long term. Our order book enables us to maintain our strong organic growth targets and provides the capacity to also pursue acquisition-driven growth. We look forward to continuing to realize our vision of a connected world that provides freedom of movement for people and ideas.

MastIT Group has prepared its annual report in accordance with the Annual Accounts Act (1995:1554) and the Swedish Financial Reporting Board’s recommendation RFR 2, Accounting for Legal Entities. Statements issued by the Swedish Financial Reporting Board applicable to listed companies are also applied.

The Company’s shareholders are hereby convened to the Annual General Meeting, at which the re-election of all current Board members—Gert Nordin, Patrik Boman, Erik Fischbeck, and Jimmy Karlsson—is proposed, with Erik Fischbeck proposed for re-election as Chair of the Board.

For further information or to discuss potential future collaborations, please contact Michael Alex, CEO of MastIT Group.