MastIT Group continues to demonstrate our scalability and the strength of our business model, delivering steady growth in line with our financial targets. We close another successful year in which MastIT Group exceeded our growth target, achieving 16% growth versus the financial objective of 15% organic growth. A very strong Q4 2024 with revenue of SEK 46 million enabled us to close the year at SEK 155 million, an all-time high for the Group.

We finished the year strongly: the fourth quarter delivered 8% growth, which is positive given the holiday season in the period. The EBITA margin strengthened in Q4 compared with both the prior quarter and the same quarter last year. For full-year 2024, organic growth was 16% and the company reported an EBITA margin of 20%. Our strategic work to cultivate new customers and markets—while nurturing and developing our existing business—has paid off. We have built a broader customer portfolio than ever while maintaining strong profitability.

In the final quarter, customer development focused—beyond private operators—on public network owners, as well as expanding our network and collaboration with the large engineering consultancies. Our offering, combined with our efficient delivery model aimed at new customer segments, will be a vital driver of the company’s growth journey in the coming year. Both industry and the public sector are set to invest billions of SEK in new communications networks over the next few years. A key element in many future contracts will be taking end-to-end responsibility for our customers, and we see significant potential to evolve our business model toward becoming a full-service provider in mobile infrastructure and communications.

During the year we invested in additional strategic administrative functions and increased our project resourceswithout sacrificing profitability, quality, or delivery reliability. These investments will benefit us in the years ahead, and we have created the conditions to continue delivering top-quality execution while meeting our customers’ steadily rising requirements for reliable delivery as we continue to grow. As evidence of this, we receive high customer ratings, underscoring the long-term nature and strength of our business. To further strengthen our competitiveness, MastIT is in the final phase of certification to ISO 9001 (Quality Management) and ISO 14001 (Environmental Management). Work toward these certifications is expected to be completed in H1 2025 and is of great importance for our forthcoming initiatives in the public sector.

In 2024, the Group had an average workforce of 85 FTEs, including various specialists and installers, consisting of both employees and external resources (subcontracted). Given seasonal variation in our sector, the workforce at times exceeded 100 resources, while the number of directly employed staff at the head office averaged around 32 over the full year 2024.

We enter 2025 with a healthy order book, while continuing to broaden our offering to both existing and new customers. As MastIT Group continues to diversify and expand its customer base, the outlook is very positive in both the short and long term. Our order book enables us to adhere to our organic growth targets and gives us the capacityto also pursue acquisition-driven growth during 2025. We look forward to continuing to realize our vision of a connected world that enables freedom of movement for people and ideas.

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