Netel Q2 EBITA turns to loss of SEK 3 million; net sales fall 6.4% to SEK 725 million

• Netel Holding AB (publ) swung to an operating loss of SEK 5 million in Q2, while net sales fell 6.4% to SEK 725 million.
• Adjusted EBITA dropped to SEK 24 million, cutting the adjusted EBITA margin by 1.8 percentage points to 3.3%.
• Order backlog edged down to SEK 3.7 billion, while cash flow from operating activities improved to SEK -31 million.
• Net debt excluding leasing rose to SEK 916 million, lifting leverage to 12.3x adjusted EBITDA on a rolling 12-month basis.
• Boards announced plans to merge with Infrea, with Netel as the absorbing party; the board also plans a fully secured SEK 127 million rights issue.

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