Hello everyone and welcome to today's interview! Today we are joined by Martin Reinholdsson, CEO of Infrea. Welcome, Martin.

Thank you, thank you!

You are the CEO of Infrea, but something special is happening today. Can you tell us a bit more?

Well, today is an exciting day. Today marks the long-awaited merger between Infrea and Netelinfra. Or more correctly, Infrea AB and Netel Holding AB. It was announced in June. And now we are finally here. Mm.

Can you tell us a bit about the background to the merger?

Yes, the background is that some of our main owners, together with the managements, you could say, concluded that it is beneficial to be a bit larger in this industry. You need to be a bit larger as a share. You need to be a bit more powerful. You need to have more weight vis-à-vis the financial markets. At the same time, there are operational benefits that we have identified along the way, making us complement each other very well. Finally, timing is of course key in successfully pulling off a merger between two listed companies, and that has brought us here.

How would you describe the combined group and the primary business benefits?

The group operates within infrastructure. It is a broad ballpark. We are a service provider within infrastructure, specifically across four different segments. We have paving, we have infra, which in Sweden we call ground and construction. We have telecom and we have power.

We operate in three countries, have of around 60 offices, and over 1,200 fantastic colleagues, so that broadly sums up the combined company. And as of today, we will operate under the shared name Netelinfra, which feels very exciting.

What would you say are the primary business advantages of the combination?

Well, as I said, we complement each other in a number of areas, and through the merger we achieve a broader geography. We will be able to take on more comprehensive commitments for customers, which also includes larger engagements. We complement each other geographically, both in the Mälardalen region, along the Baltic coast, and between power and infra. For example, there are many coordination benefits. We have also mentioned, and not least, the synergies we see on the cost side right from the start. Partly in procurement, but partly because we are two listed groups with two headquarters, two boards, and so on. There are immediate cost synergies.

What will you prioritize now in the short term, if we start there?

In the short term, it is about getting things to work. Reporting and systems, among other things. It is naturally about ensuring the organization feels confident with what we are launching. We also have some formalities that need to be put in place. A new board of directors is to be elected, and with that will of course come financial targets, sustainability targets, and getting the process rolling for the new group.

If we dare to look ahead maybe a year or a couple of years, what do you hope to succeed with? What will you succeed in doing? What is the ambition?

The ambition over a 1 to 2 year horizon? By then we will have secured more long-term financing. We will have realized at least 50 million. The synergies that we have also announced, so to speak. I also believe we will have found significantly more value-creating initiatives. And naturally, the organization will know each other and be able to forge many new contact paths and generate the energy you want to feel as a leader. I believe a result of this will be that we can reduce our debt and thereby also increase our flexibility moving forward.

What do you need to succeed with in order to succeed in your strategy going forward?

Well, it comes down to people. Getting people to understand a new operating model, how it is intended to work, and getting communication flowing between the units. Then there is a lot of potential. So I think that. Is the key. The key issue.

And finally, for the investors watching this. Why do you think one should invest in the new company? Netelinfra then.

Without acting as an investment advisor, we see a very large and strong underlying trend in demand. To begin with, whether it is maintenance debt for roads, railways, water, sewage, electrification, digitalization, defense, these are substantial sums and over a long period. So the market is there.

Furthermore, I think the combined company creates a rather exciting mix of competencies in both specialization and breadth. We have many long-standing customer relationships, a strong ownership base, and again, synergies and potential are there, so value creation should be secured. Absolutely.

What happens moving forward now with the existing shares in Infrea, so to speak?

Well, now Infrea is delisted and the fact is, in a merger Infrea is dissolved as a corporate entity, so trading shares is not possible right now. And for those who own shares, new Netel shares will show up to begin with within a few days, and when the new name is then fully approved by a board of directors, so. Then you will be able to see Netelinfra on the exchange list as well.

It will be exciting to follow this going forward. Thank you very much, Martin, for coming here today and best of luck! Thanks a lot!