The Company operates in a market with well-supported growth, where the need for increased capacity and infrastructure for mobile communications will continue to expand over the coming years, not least driven by the rollout of 5G networks. During the 2023 financial year, MastIT Group AB established and developed a stable and robust group structure, including organization, laying the foundation for the Company’s upcoming growth journey based on a combination of organic and acquisition-driven growth. The Group has a stable organization with the right competencies in place to continue developing the Group, with the aim of delivering sustained revenue growth with solid profitability.

The Group’s growth trajectory slowed somewhat in the second half of 2023, partly due to project delays that shifted into the first quarter of 2024. For the full year, MastIT reported 11% revenue growth, and we see good opportunities to increase the growth rate in the coming year. A majority of revenue is directly or indirectly linked to a single customer and that customer’s 5G network rollout. Toward the end of 2023, the focus was on securing additional capacity to deliver in line with the order intake and our planned growth for 2024. The Company will continue to increase the share of project work performed by MastIT’s own personnel and ensure strong geographic presence across Sweden.

In Q4, the Company secured orders for the following year corresponding to approximately 70–75% of the Group’s 2023 full-year net sales. These orders come from existing customers, with continued expansion of our responsibilities in both the 5G rollout business and upgrades of the existing network, as well as the ongoing service business. In the coming year, the Company’s operations will also expand to include work in the southern parts of Sweden, where MastIT has previously had limited presence. This expanded responsibility from our customers is a clear mark of quality, confirming that we have become a central partner in securing today’s and tomorrow’s networks.

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, and Erik Fischbeckis proposed for re-election as Chair of the Board.

For further information, please contact Michael Alex, CEO of MastIT Group.