The financial report of MastIT Group for the Third Quarter 2023 shows continuous growth and healthy profitability

October 25, 2023

The mix of installation projects has temporary shifted to a higher degree of “swaps” and upgrades of existing telecom sites, which have lead to a slightly lower ratio of greenfield installations. The ratio between various types still indicates the shortage of high-skilled installation competencies in the industry and how operators in general have the need to continue to allocate the available resources between various installation areas.

The long-term objective to attract additional new key-customers to diversify the revenue mix is developing according to plan during 2023. The general temporary slow-down in investments in the installation industry open up for more dialogues with new resources and competencies, both related to direct employment opportunities as well as co-operations / partnerships with new subsuppliers. 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 estimates that the 5G market will continue to develop and will show a strong growth hence the somewhat more negative macro economics. The PTS and government plans to have a nationwide operating 5G networks in use by 2025 remains the same, and we predict that the rollout pace will become greater during the end of the period until 2025.

The new spectrum auctions completed during the third quarter in Sweden will continue to fuel the 5G and radio communication network growth for many years to come. Even long after 2025 the 5G networks will continue to be installed in a more dense structure in order to support new services incl IoT that requires lower latency and higher bandwidth. Another area where we foresee a never-lasting demand for installation capacity is within the private 5G network area, besides expected increased activities and installations within military and security related radio network areas driven by the security focus on a macro perspective.

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


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