Assemblin Caverion Group
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Assemblin Caverion Group (ACG) investor relations material

Assemblin Caverion Group Q4 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Logotype for Assemblin Caverion Group
Q4 2024 earnings summary21 Feb, 2025

Executive summary

  • 2024 marked a successful integration of Assemblin and Caverion, capturing synergies and improving profitability, despite a challenging market and restructuring activities.

  • The group is a northern European leader in technical service and installation solutions, serving 76,900 customers across 9 countries with 21,000 employees.

  • Adjusted EBITA margin rose to 6.7% for the full year, up from 5.7%, reflecting operational optimization and synergy capture.

  • Major restructuring and integration were completed, incurring one-off costs but positioning for sustained margin uplift.

  • Free cash flow was strong at SEK 3,414 million, with a cash conversion rate of 121%.

Financial highlights

  • Q4 2024 net sales were SEK 11,060 million, down 5.9% year-over-year; full-year net sales were SEK 42,020 million, down 3.1%.

  • Adjusted EBITA for Q4 was SEK 924 million (8.4% margin); full-year adjusted EBITA was SEK 2,832 million (6.7% margin).

  • EBITA for Q4 dropped to SEK 38 million; full-year EBITA fell to SEK 1,323 million, mainly due to non-recurring items.

  • Net result for Q4 was SEK -653 million; full-year net result SEK -589 million, impacted by PPA amortizations and restructuring costs.

  • Order backlog at year-end reached SEK 30,805 million, up 1.1% year-over-year.

Outlook and guidance

  • The group expects continued profitability improvement and stable net sales, with clear underlying growth potential and strong order intake.

  • Market volatility and uncertainties persist, but signs of recovery are emerging in some regions.

  • Diversified business model and strong megatrends (e.g., climate change mitigation) position the group for sustainable growth.

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Frequently asked questions

Assemblin Caverion Group is a leading northern European technical service and installation company. Formed in April 2024 from the merger of Assemblin and Caverion, the company provides comprehensive and sustainable solutions across the full lifecycle of buildings, infrastructure, and industrial sites. Their services include technical installations, maintenance, management, and advisory solutions, focusing on mechanical, electrical, plumbing, and HVAC systems, as well as building automation and smart technologies. The company's operations span Sweden, Finland, Norway, Austria, Germany, Denmark, and the Baltic countries. Assemblin Caverion Group is headquartered in Stockholm, Sweden, and its shares are listed on the Helsinki Stock Exchange.