Infrea is an industrial group that develops, builds and manages infrastructure projects such as road and ground systems, water and sanitation solutions and civil engineering works. The company targets municipalities, construction companies and public clients and operates in markets in Sweden and internationally through partnerships. Infrea was founded in 2012 and is headquartered in Stockholm.
* Different stories depending on segment... * ...overall better than we expected... * ... but share price is pegged to Netel Diverging segments with Paving carrying the beat Note, Infrea sold its Water & Sewage segment during Q4'25, and we have the segment...
* Sales +1%, EBITA +11% vs. ABGSCe, 3% org. growth * '26e-'28e EBITA estimates likely up 3-7% * Share to focus on good performance in Paving services Q2 details Infrea delivered a strong report. Organic sales was +3% y-o-y, and EBITA margin at 4.4% vs...
* The merger in focus for now * Three announced orders in the quarter * Infrea's share price pegged to Netel's Merger with Netel The main event in the quarter is the merger between Infrea and Netel, as we wrote about in our Fast Comment (Infrea and Netel...
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* Infrea and Netel to merger * The combined company to have ~SEK 5bn in revenue * Stynnergies of ~SEK 50m yearly A 12% premie to close, an 8% discount to 90 days average Netel and Infrea intend to carry out a merger between the companies where Netel ...
* We expect Civil Engineering spending to rise * Taking advantages from being part of a group * 7-4x EBITA '26e-'28e, 17-13% FCF yields Civil engineering on the rise On Thursday we hosted Infrea's CEO, Martin Reinholdsson, at ABGSC's Investor Days. Mr...
* Normalisation in a small quarter * Better cash flow, low net debt and buybacks * M&A on the way and infrastructure spending to rise Sales and earnings miss driven by normalisation Infrea sold its Water & Sewage segment during Q4'25, and we have included...
* Sales -15%, adj. EBITA -15% vs. ABGSCe, -15% org. growth * '26e-'28e adj. EBITA estimates likely down 5-10% * Share to focus on cash flow and market activity Q1 details Infrea delivered a slightly soft report in a small quarter. Organic sales was -...
* Entering 2026e in better shape * Early signs of an improving market * 7-5x EV/EBITA '26e-'28e, 16-10% FCF yields In better shape Infrea is entering 2026e with a clearer business model and in better internal shape. The Water & Sewage segment has been...
* Solid earnings momentum in Paving services * Divestment brings net cash position and dividend * M&A and more internal improvements to come First quarter with Water & Segment out of the numbers In Q4'25, Infrea sold its Water & Sewage segment. We included...
* Sales 0%, adj. EBITA 0% vs. ABGSCe, 2.5% org. growth * '26e-'27e adj. EBITA estimates likely flat * Share to focus on DPS and solid improvements Q4 details Infrea delivered a solid report with organic sales +2.5% y-o-y, and a high margin driven by ...
* Q4 report Tuesday, 17 February at 08:30 CET * '25e-'27e adj. EBITA down 5-15% * 7-6x EBITA in '25e-'27e, 23-13% FCF yields Water & Sewage sale is completed In Q4, Infrea completed the sale of the Water & Sewage segment to Norva24. This means that the...
* Infra to divest a small segment * 7% of '25e revenue and 16% of '25e EBITA * Will reduce net debt by SEK 180m to SEK 27m Selling two companies Infrea is divesting its Water & Sewage segment to Norva24. The segment is rather small, at ~7% of '25e revenue...
* Sales -5%, adj. EBITA +25% vs. ABGSCe, 0% org. growth* '25e-'27e adj. EBITA estimates likely up 8-15%* Share to focus on the margin improvmentQ3 detailsInfrea delivered a solid report with sales flat y-o-y, but a high margin driven by paving services...
* Q3 report Friday, 7 April at 08:30 CET* '25e-'27e adj. EBITA up 5-2%10-6x EBITA in '25e-'27e, 23-14% FCF yields Investments will come We expect Infrea to deliver a Q3 report with both organic growth and earnings improvements. During the quarter, the...
Q2 details Infrea delivered a mixed report with higher sales and lower adj. earnings vs. ABGSCe. Sales came in at SEK 636m (+5% vs. ABGSCe), +8% y-o-y of which +8% organic (ABGSCe +5%, +29% Q1'25), driven by good order intake in Land & Construction. ...
- Q2 report Tuesday, 18 April at 08:30 CET - '25e-'27e adj. EBITA up 7-1% - 10-7x EBITA in '25e-'27e, 13-14% FCF yields Summer lies ahead We expect Infrea to deliver a solid Q2 report with both organic growth and earnings improvements. Jonab and DUO ...
Internal efficiency development to continue 34% adj. EBITA CAGR '24-'27e 9-5x EBITA '25e-'27e, 16-19% FCF yields Has started the journey, but there is more to come. Today, we welcomed Infrea's CEO, Martin Reinholdsson, to ABGSC's Investor Days. As well...