MastIT Group’s Financial Interim Report for the Second Quarter of 2023 Unveiled – Robust Growth and Activity Mark the Season

August 20, 2023

In the second quarter of the current calendar year, MastIT Group witnessed a general upswing in the number of installation projects, characteristic of the seasonal trend, and this pattern is expected to persist throughout 2023. Historically, the second quarter has proven to be a robust period for MastIT Group.

In the end of the quarter some of the leading operators in the Nordics indicated a general temporary slow-down in investments in the installation industry, which increase activity around cop-operation among industry pears in Sweden. MastIT’s main customer did however continue with its installation projects in almost the same high pace, which means that MastIT continues to invest in increased capacity for the continuation of the year. In MastIT Group we have several open positions in various areas and expect a continuous demand for our capabilities both for outdoor and indoor installations.

The company anticipates strong ongoing development in the 5G market in the years ahead, but over the calendar year we will continue to see some seasonal variations. The Swedish Post and Telecom Authority (PTS) and government's plans for a nationwide operational 5G network by 2025 remain unchanged. We foresee an accelerated rollout pace towards the end of the period 2025, but in general the rollout will be on a high level the coming years. Additionally, the industry is being propelled by restrictions on the use of equipment from certain Chinese suppliers in radio networks. This circumstance ensures that the ongoing replacement of equipment in existing sites will necessitate a substantial workforce until completion short-term the coming year. In Sweden, the entire industry is eagerly anticipating the upcoming spectrum auctions in quarter 3, that is expected to fuel 5G and radio communication network growth for the foreseeable future also after 2025 and forward.

Please contact our CEO Michael Alex for more information around MastIT Group.


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