Annual and Sustainability report 2024

Continued profitable growth - improved operating cash flow and excellent cash conversion - continued M&A activity - increased share of Green Services

Looking back on 2024 I am proud that we have continued our profitable growth journey with a total revenue growth of 15% and an adjusted EBITA of 11%. In addition, we have improved the operating cash flow through working capital management leading to an excellent cash conversion of 91%.

The M&A activity continued at a decent speed with 5 new acquisitions signed during the year, adding around NOK 300 million in annual revenues.

At Norva24 we keep advancing our sustainability effort, and we are glad to see good improvements in our key focus areas. We still have special priority in enhancing our performance in terms of relative energy consumption measured as kWh/revenue where all energy consumption is converted into kWh equivalents, and we also focus on increasing sales from green services under the EU taxonomy. It is pleasing to see that we have again decreased the relative energy consumption and increased the share of Green Services to 47% in 2024.

The public offer announced by Apax Funds in March underlines the attractiveness of the UIM industry and Norva24’s position as market leader and the progress that we have made and sets the stage for exciting opportunities ahead in the massive UIM market. We are the clear leader in Northern Europe and our strong financial position gives us the opportunity to continue our journey. I am very excited about the future for Norva24.

Henrik Norrbom

Group CEO

For further information contact:

Stein Yndestad, Group CFO
Tel: +47 91686696
E-mail: stein.yndestad@norva24.com

About Norva24

Norva24 is the leading northern European player in the UIM industry[1] and offers UIM services, such as emptying services, pressure flushing and pipe services. On December 31, 2024, the company operated more than 80 branches[2] in Norway, Germany, Sweden, and Denmark, with approximately 2,000 employees. The company’s history dates back to 1919 and Norva24 has since evolved from a company with Norwegian roots to being a market leader in UIM services in Norway, Germany, Sweden and Denmark. Norva24 has a history of completing acquisitions to enter new markets or to consolidate its local market position, taking advantage of the highly fragmented UIM market in Europe, which is characterized by mostly small, local companies. In its four markets, the company has conducted more than 50 acquisitions since 2015.
www.norva24.com.
[1] Measured in revenue.
[2] The term “branch” refers to places of business in various locations in which the company conducts its operations.

This information is information that Norva24 Group AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication, through the agency of the contact persons set out above, at 2025-04-30 00:01 CEST.

Attachments

Norva24 Annual And Sustainability Report 2024

Läs mer på MFN