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QualTek Announces Fourth Quarter and Annual 2021 Financial Results

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– Full year 2021 results include revenue of $612.2 million and adjusted EBITDA of $60.0 million

– Reported 24-month backlog at the end of Q4 2021 was $2.1 Billion, an increase of 22.0% over year end 2020

– Fourth quarter 2021 results include revenue of $147.1 million and adjusted EBITDA of $4.0 million

– Successfully completed four acquisitions and added significant new contract awards 

BLUE BELL, Pa., March 31, 2022 /PRNewswire/ — QualTek Services Inc. (“QualTek” or the “Company”) (NASDAQ: QTEK), a leading turnkey provider of infrastructure services to the North American 5G wireless, telecom, power grid modernization, and renewable energy sectors, announced today a strong 2021 fourth quarter and full-year financial results of its subsidiary QualTek HoldCo, LLC.

For the Fourth Quarter:

Fourth quarter 2021 revenue was up 11.0% to $147.1 million, compared to $132.4 million for the fourth quarter of 2020. Net loss from continuing operations for the fourth quarter 2021 was $81.1 million compared to net loss from continuing operations of $56.3 million in the fourth quarter of 2020.  Excluding one-time impairment of goodwill, Net loss from continuing operations for the fourth quarter 2021 was $28.6 million compared to a net loss from continuing operations of $27.5 million in the fourth quarter of 2020.  Fourth quarter 2021 adjusted EBITDA was $4.0 million compared to a loss of $13.5 million for the fourth quarter of 2020.  Backlog at the end of the fourth quarter was $2.1 billion which is a 22% increase over the fourth quarter 2020. 

For the Full Year:

Full year 2021 revenue was $612.2 million, a decline of 6.7% from $656.5 million for the full year 2020. Net loss from continuing operations for 2021 was $101.6 million compared to net loss from continuing operations of $94.2 million in 2020.  Excluding one-time impairment of goodwill, Net loss from continuing operations for 2021 improved to $49.1 million compared to a net loss from continuing operations of $65.4 million in 2020.  Full year 2021 adjusted EBITDA increased 356.9% to $60.0 million, compared to $13.1 million for the full year 2020. The increase in adjusted EBITDA was driven primarily by margin improvement initiatives across both the Telecom and Renewables & Recovery segments. On a pro-forma basis, assuming the recently closed acquisitions had been owned for the full year ending December 31, 2021, QualTek estimates adjusted EBITDA would be approximately 72.0 million. For the full year 2022, guidance remains unchanged.

As QualTek has indicated in the past, strong industry tailwinds including grid modernization and infrastructure improvements along with the C-band spectrum deployment are expected to drive major 5G infrastructure buildouts and provide significant growth opportunities across the business. The company is also seeing reductions in COVID-19 health and safety protocols in key regions allowing for a return to pre-covid scale and efficiency. QualTek expects continued growth in both segments during 2022 and beyond.

Scott Hisey, QualTek’s Chief Executive Officer, said, “2021 was a critical year for the company.  We successfully closed our SPAC transaction creating over $80 million of additional liquidity to allow us to execute on our strategic growth plan.  Full year 2021 adjusted EBITDA grew to $60.0 million, a $47 million increase from 2020. QualTek remains on a path to be a significant industry player across the telecommunications and power industries. We successfully grew our rolling two-year backlog by 22% to $2.1 billion during the year. This growth is a testament to our strong performance and our customer’s reliance on QualTek to play a critical role in building out 5G networks and participating in the long-term grid modernization initiatives. We are very excited for the future of QualTek.”

Management will hold a conference call to discuss these results on Friday, April 1, 2022, at 9:00 a.m. Eastern Time. The call-in number for the conference call is 1 (888) 330 – 2454 or 1 (240) 789 – 2714 using passcode 2965812. Additionally, the call will be broadcast live over the Internet and can be accessed and replayed through the investor relations section of the Company’s website at qualtekservices.com.

The following tables set forth the financial results for the periods ended December 31, 2021 and 2020:

BCP QUALTEK HOLDCO, LLC

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(in thousands, except per unit information)

For the Years Ended December 31,

2021

2020

Revenue

$                       612,241

$                        656,524

Costs and expenses:

Cost of revenues

502,688

597,583

General and administrative

50,994

47,049

Transaction expenses

3,826

988

Loss on legal settlement

2,600

–

Change in fair value of contingent consideration

(4,780)

(7,081)

Impairment of goodwill

52,487

28,802

Depreciation and amortization

53,675

46,475

Total costs and expenses

661,490

713,816

Loss from operations

(49,249)

(57,292)

Other income (expense):

Gain on sale/ disposal of property and equipment

587

729

Interest expense

(50,477)

(37,659)

Loss on extinguishment of convertible notes

(2,436)

–

Total other expense

(52,326)

(36,930)

Loss from continuing operations

(101,575)

(94,222)

Loss from discontinued operations

(8,851)

(3,865)

Net loss

(110,426)

(98,087)

Other comprehensive income (loss):

Foreign currency translation adjustments

111

239

Comprehensive loss

$                      (110,315)

$                        (97,848)

Earnings per unit:

Basic earnings per unit from continuing operations

$                         (47.24)

$                          (48.61)

Basic earnings per unit from discontinued operations

(4.05)

(1.93)

Basic earnings per unit from net loss

$                         (51.29)

$                          (50.54)

Basic weighted average common units outstanding

2,184,696

2,005,824

 

BCP QUALTEK HOLDCO, LLC

CONSOLIDATED BALANCE SHEETS

(in thousands, except unit information)

December 31, 

2021

2020

Assets

Current assets

226,523

192,223

Property and equipment, net

50,682

33,794

Intangible assets, net

364,174

345,816

Goodwill

28,723

58,522

Other long-term assets

1,657

1,241

Non-current assets of discontinued operations

–

9,272

Total assets

$                      671,759

$                     640,868

Liabilities and (Deficit) / Equity

Current liabilities

$                      130,533

$                     139,231

Current portion of long-term debt and capital lease obligations

127,375

27,249

Current portion of contingent consideration

9,299

9,968

Capital lease obligations, net of current portion

19,851

15,959

Long-term debt, net of current portion and deferred financing fees

418,813

397,464

Contingent consideration, net of current portion

21,457

8,161

Distributions payable

11,409

11,409

Non-current liabilities of discontinued operations

–

1,793

Total (deficit) / equity

(66,978)

29,634

Total liabilities and equity

$                      671,759

$                     640,868

 

BCP QUALTEK HOLDCO, LLC

CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

For the Years Ended December 31,

2021

2020

Net cash (used in) provided by operating activities

$                            (17,942)

$                              13,457

Net cash used in investing activities

(43,532)

(3,963)

Net cash provided by (used in) financing activities

63,373

(9,712)

Effect of foreign currency exchange rate (translation) on cash

83

59

Net increase (decrease) in cash 

1,982

(159)

Cash:

Beginning of year

169

328

End of year

$                                2,151

$                                   169

 

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(in thousands)

For the Years Ended
December 31,

Revenue:

2021

2020

Telecom

$           498,221

$          587,614

Renewables and Recovery Logistics

114,020

68,910

Total consolidated revenue 

$           612,241

$          656,524

For the Years Ended
December 31,

Adjusted EBITDA Reconciliation:

2021

2020

Telecom adjusted EBITDA

$            32,542

$             2,409

Renewables and Recovery Logistics adjusted EBITDA

44,869

28,943

Corporate adjusted EBITDA

(17,376)

(18,213)

Total adjusted EBITDA

$            60,035

$           13,139

Less:

Management fees

(889)

(518)

Transaction expenses

(3,826)

(988)

Loss on legal settlement

(2,600)

–

Change in fair value of contingent consideration

4,780

7,081

Impairment of goodwill

(52,487)

(28,802)

Depreciation and amortization

(53,675)

(46,475)

Interest expense

(50,477)

(37,659)

Loss on extinguishment of convertible notes

(2,436)

–

Loss from continuing operations

$         (101,575)

$          (94,222)

The following tables set forth the financial results for the three-month periods ended December 31, 2021 and 2020:

BCP QUALTEK HOLDCO, LLC

CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(in thousands, except per unit information)

(unaudited)

For the Three Months Ended December 31,

2021

2020

Revenue

$                          147,057

$                          132,444

Costs and expenses:

Cost of revenues

130,192

134,823

General and administrative

13,032

11,389

Transaction expenses

951

421

Loss on legal settlement

2,600

–

Change in fair value of contingent consideration

(236)

(7,081)

Impairment of goodwill

52,487

28,802

Depreciation and amortization

14,539

11,714

Total costs and expenses

213,565

180,068

Loss from operations

(66,508)

(47,624)

Other income (expense):

Gain on sale/ disposal of property and equipment

73

153

Interest expense

(14,699)

(8,835)

Total other expense

(14,626)

(8,682)

Loss from continuing operations

(81,134)

(56,306)

Loss from discontinued operations

(737)

(2,157)

Net loss

(81,871)

(58,463)

Other comprehensive income (loss):

Foreign currency translation adjustments

36

483

Comprehensive loss

$                           (81,835)

$                           (57,980)

Earnings per unit:

Basic earnings per unit from continuing operations

$                             (36.49)

$                             (28.46)

Basic earnings per unit from discontinued operations

(0.33)

(1.08)

Basic earnings per unit from net loss

$                             (36.82)

$                             (29.54)

Basic weighted average common units outstanding

2,223,554

2,005,824

 

Supplemental Disclosures and Reconciliation of Non-GAAP Disclosures

(in thousands)

(unaudited)

For the Three Months Ended
December 31,

Revenue:

2021

2020

Telecom

$           138,201

$          118,885

Renewables and Recovery Logistics

8,856

13,559

Total consolidated revenue 

$           147,057

$          132,444

For the Three Months Ended
December 31,

Adjusted EBITDA Reconciliation:

2021

2020

Telecom adjusted EBITDA

$              5,635

$          (13,619)

Renewables and Recovery Logistics adjusted EBITDA

2,688

4,716

Corporate adjusted EBITDA

(4,279)

(4,585)

Total adjusted EBITDA

$              4,044

$          (13,488)

Less:

Management fees

(138)

(127)

Transaction expenses

(951)

(421)

Loss on legal settlement

(2,600)

–

Change in fair value of contingent consideration

236

7,081

Impairment of goodwill

(52,487)

(28,802)

Depreciation and amortization

(14,539)

(11,714)

Interest expense

(14,699)

(8,835)

Loss from continuing operations

$           (81,134)

$          (56,306)

About QualTek

Founded in 2012, QualTek is a leading technology-driven provider of infrastructure services to the 5G wireless, telecom, power grid modernization, and renewable energy sectors across North America. QualTek has a national footprint with more than 80 operation centers across the U.S. and a workforce of over 5,000 people. QualTek has established a nationwide operating network to enable quick responses to customer demands as well as proprietary technology infrastructure for advanced reporting and invoicing. The Company will report within two operating segments: Telecommunications and Renewables and Recovery. For more information, please visit qualtekservices.com.

Forward Looking Statements

This communication contains forward-looking statements for purposes of the safe harbor provisions under the United States Private Securities Litigation Reform Act of 1995, including statements about the financial condition, results of operations, earnings outlook and prospects of QualTek. Forward-looking statements are typically identified by words such as “plan,” “believe,” “expect,” “anticipate,” “intend,” “outlook,” “estimate,” “forecast,” “project,” “continue,” “could,” “may,” “might,” “possible,” “potential,” “predict,” “should,” “would” and other similar words and expressions, but the absence of these words does not mean that a statement is not forward-looking.

The forward-looking statements are based on the current expectations of the management of QualTek and are inherently subject to uncertainties and changes in circumstances and their potential effects and speak only as of the date of such statement. There can be no assurance that future developments will be those that have been anticipated. These forward-looking statements involve a number of risks, uncertainties or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include, but are not limited to, those discussed and identified in public filings made with the SEC by QualTek.

Should one or more of the risks or uncertainties materialize or should any of the assumptions made by the management of QualTek prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements.

All pro forma numbers are used for illustrative purpose only, are not forecasts and may not reflect actual results.

All subsequent written and oral forward-looking statements concerning the matters addressed in this communication and attributable to QualTek or any person acting on its behalf are expressly qualified in their entirety by the cautionary statements contained or referred to in this communication. Except to the extent required by applicable law or regulation, QualTek undertakes no obligation to update these forward-looking statements to reflect events or circumstances after the date of this communication to reflect the occurrence of unanticipated events.

Media Contact:

QualTek IR/Communications
Gianna Lucchesi
PR@qualtekservices.com
(484) 804 – 4585

 

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SOURCE QualTek Services Inc.

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Canada to advance global nature conservation and climate action at upcoming United Nations conferences

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OTTAWA, ON, Oct. 16, 2026 /CNW/ — In a more uncertain and increasingly unstable world, Canada is stepping up to build a safer and more resilient future. Addressing climate change and biodiversity loss requires ambitious action at home and around the world. By advancing progress on both, Canada will protect nature, build resilient communities, and create lasting prosperity for future generations. International cooperation is key to achieving these goals.

That is why the Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature, will lead Canada’s efforts as Head of Delegation at the 17th meeting of the Conference of the Parties to the Convention on Biological Diversity (COP17) and the 31st meeting of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31).

At COP17, Minister Dabrusin and the Honourable Nathalie Provost, Secretary of State (Nature), will work with international partners to accelerate implementation of the Kunming–Montréal Global Biodiversity Framework. From October 19 to 30, 2026, in Yerevan, Armenia, Canada will champion the critical role of Indigenous peoples in conservation and advocate for practical solutions to mobilize global resources for biodiversity finance. Canada will showcase its leadership through two Canadian-led official side events focused on innovative nature finance and the essential role of Indigenous leadership in advancing conservation efforts at home and around the world. The delegation will also take part in strategic bilateral meetings, high-level roundtables, and civil society events to strengthen cooperation, advance solutions, and drive action to halt and reverse biodiversity loss.

From November 9 to 20, 2026, in Antalya, Türkiye, Canada will participate in the 31st Conference of the Parties to the United Nations Framework Convention on Climate Change (COP31). Building on multilateral engagements, including the 10th Ministerial on Climate Action, Canada will continue working with international partners, Indigenous representatives, civil society, youth, and other stakeholders to strengthen the resilience of vulnerable communities; reduce methane emissions; accelerate electrification; and mobilize finance and investments from public and private sources. For the fifth consecutive year, Canada will host a national pavilion at COP31, showcasing Canadian climate leadership and innovation. The Canada Pavilion will serve as a hub for connection and collaboration.

Canada’s international leadership is backed by action at home. To accelerate electrification, Canada is building major clean energy projects across the country, including with the largest clean energy investment in North American history in Churchill Falls. Through A Force of Nature: Canada’s Strategy to Protect Nature and $3.8 billion in investments and funding, Canada is advancing its commitment to conserve 30% of lands and waters by 2030 through strong partnerships and innovative approaches to conservation. Canada recently reinforced this commitment by joining the 30×30 for Nature and People Ministerial Declaration at the 81st session of the United Nations General Assembly. Prime Minister, Mark Carney, recently announced a historic investment of $1.2 billion to better protect Canada’s oceans and the life they sustain. This will increase monitoring, strengthen ocean science and ecosystem protections, and improve marine incident prevention and preparedness. These priorities will be a key focus at both upcoming conferences.

Canada’s delegations to COP17 and COP31 will bring together the diverse perspectives from across Canadian society, including Indigenous representatives, civil society, the private sector, youth, and provincial and territorial government representatives. Working with international partners, these delegations help advance practical solutions to protect nature, strengthen resilience, and support sustainable economic prosperity.

Quotes

“Climate change and biodiversity loss are global challenges that no country can solve alone. At COP17 and COP31, Canada will work with partners from around the world to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework and the Paris Agreement and collective efforts to address nature protection and climate change. Through international cooperation, Indigenous leadership, innovative solutions, and a collective commitment to conservation and climate action, we will build a sustainable future for people and nature alike.”
– The Honourable Julie Dabrusin, Minister of the Environment, Climate Change and Nature

“Nature loss is a global challenge that requires countries to work together and turn shared commitments into action. At COP17, Canada will share its experiences in advancing nature finance, including innovative approaches to valuing natural capital and mobilizing private investment for conservation. By exchanging ideas, lessons learned, and practical solutions with international partners, we can accelerate progress toward our global biodiversity goals and recognize nature as a foundation of long-term economic prosperity and resilience.”
– The Honourable Nathalie Provost, Secretary of State (Nature)

Quick facts

As the second largest country in the world, Canada has a vast amount of natural capital, including 24% of the world’s boreal forest, 37% of lakes, 25% of wetlands, and approximately 80,000 species. We have both a responsibility to steward these resources as well as a competitive advantage because of these assets.Canada hosted the 15th meeting of the Conference of the Parties to the United Nations Convention on Biological Diversity (COP15) in Montréal in 2022, which resulted in the adoption of the Kunming–Montréal Global Biodiversity Framework: an ambitious global plan to halt and reverse biodiversity loss by 2030.Canada supports the Armenian COP17 presidency and its approach to strengthen implementation of the Kunming–Montréal Global Biodiversity Framework toward meeting the Framework’s goals and targets.In September 2026, Canada and China co-chaired the Kunming Dialogue in Kunming, China. The Dialogue was a multilateral working-level meeting to discuss progress and challenges in the implementation of the Framework ahead of COP17.The Canada Pavilion at the United Nations Conference of the Parties (COP) is a key space to show Canadian climate leadership and innovation.Reducing methane emissions remains one of the fastest and most cost-effective ways to limit the rise of near-term global temperatures. Canada serves as co-convenor of the Global Methane Pledge, which counts 159 participating countries and the European Commission, with participants agreeing to take voluntary actions toward a collective goal of reducing global methane emissions at least 30% by 2030 (from 2020 levels).In April 2026, Canada announced a new goal of delivering $13 billion in international climate finance over the next five years.

Associated links

A Force of Nature: Canada’s Strategy to Protect NaturePrime Minister Carney Announces Historic Investment to Protect Canada’s OceansCanada Pavilion at the Conference of the Parties (COP)

Environment and Climate Change Canada’s X page
Environment and Climate Change Canada’s Facebook page
Environment and Natural Resources in Canada’s Facebook page
Environment and Climate Change Canada’s LinkedIn page
Environment and Climate Change Canada’s Instagram page

SOURCE Environment and Climate Change Canada

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DGEN TECHNOLOGIES (FORMERLY CHINA KELI ELECTRIC COMPANY) COMPLETES ACQUISITION AND NAME CHANGE AND FILES CSE LISTING STATEMENT

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VANCOUVER, BC, Oct. 16, 2026 /CNW/ — DGEN Technologies Corp. (formerly China Keli Electric Company Ltd.) (the “Company”) is pleased to announce that it has completed its previously announced acquisition of DGEN Financial Holdings Corp. (formerly DGEN Technologies Corp.) (“DGEN”) pursuant to a share exchange agreement dated December 9, 2025, as amended on August 17, 2026 (the “SEA”) on October 14, 2026 (the “Transaction”).

Pursuant to the Transaction, the Company acquired all of the issued and outstanding shares of DGEN in exchange for the issuance of an aggregate of 9,550,360 common shares of the Company (“Common Shares”) and 7,000,360 Common Share purchase warrants (“Warrants”) to certain former shareholders of DGEN. Each Warrant entitles the holder to acquire one Common Share at a price of $0.25 until October 14, 2028. As a result of the Transaction, DGEN became a wholly-owned subsidiary of the Company. As of the date hereof, the Company has 29,161,364 Common Shares and 7,000,360 Warrants issued and outstanding.

In connection with the completion of the Transaction, the Company changed its name from “China Keli Electric Company Ltd.” to “DGEN Technologies Corp.” and, hereinafter, will carry on the business of DGEN.

Listing Statement

Following the closing of the Transaction, the Company has filed a CSE Form 2A listing statement dated October 14, 2026 (the “Listing Statement”) on SEDAR+ under its profile relating to the Transaction and the proposed CSE listing. Investors are encouraged to review the Listing Statement, which provides detailed information about the Transaction, the Company and its operations.

The Company has received conditional approval to list the Common Shares on the Canadian Securities Exchange (the “CSE”) and has delisted the Common Shares from the TSX Venture Exchange in anticipation of listing on the CSE. The Common Shares are expected to commence trading on the CSE under the symbol “DGEN” on or about October 20, 2026.

Board of Directors and Management

Following completion of the Transaction, the directors and officers of the Company are Cole Goodwin, Chief Executive Officer and Director, Philip Lo, Chief Financial Officer, Corporate Secretary and Director, Sean Webster, Director, and Yee Man Cheung, Director.

Mr. Goodwin is a business executive with over 10 years of experience in alternative and traditional investment markets, financial technology and corporate operations. His experience includes senior management and board roles with publicly traded companies, including as Chief Operating Officer of Hyper Bit Technologies Ltd. Mr. Goodwin provides the Company with strategic and operational oversight in respect of its technology platform, including development and commercialization of payment infrastructure, integration of payment gateways, technology deployment and vendor management.

Escrow

At the time of listing, the Company will have 2,496,000 Common Shares and 1,000,000 Warrants held by related persons subject to escrow pursuant to an escrow agreement dated October 14, 2026 among the escrowed securityholders, the Company and Odyssey Trust Company, as escrow agent, subject to a 36-month release schedule pursuant to National Policy 46-201 – Escrow for Initial Public Offerings.

About DGEN Technologies Corp.

DGEN Technologies Corp. is a Vancouver-based technology company developing a cloud-based payment platform intended to integrate point-of-sale, kiosk and mobile payment systems into a unified and scalable solution. The Company’s platform is currently in beta stage and is operational, but has not yet been commercialized or generated revenue.

The CSE has not reviewed, approved, or disapproved, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Forward-Looking Information

This news release contains “forward-looking information” within the meaning of applicable Canadian securities laws, including, without limitation, statements with respect to: the expected listing of the Common Shares on the CSE; the satisfaction of any remaining conditions to listing; the business and operations of the Company following completion of the Transaction; the Company’s platform, including its development, commercialization, functionality, market adoption and ability to generate revenue; the Company’s intended business objectives; the escrow arrangements applicable to certain Common Shares and Warrants; and future plans and expectations of the Company. Forward-looking information is based on management’s current expectations, estimates, projections, beliefs and assumptions as of the date of this news release.

Forward-looking information involves known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to differ materially from those expressed or implied by such forward-looking information. These risks and uncertainties include, but are not limited to: the possibility that the Common Shares may not commence trading on the CSE when expected or at all; risks relating to the Company’s early stage of development; the fact that the platform is in beta stage, has not yet been commercialized and has not generated revenue; risks associated with development, commercialization and market adoption of the platform; competition from established payment technology providers; reliance on third-party contractors and service providers; additional financing and dilution risks; market volatility; regulatory, compliance, cybersecurity and data privacy risks; risks relating to escrowed securities; and the other risks described in the Listing Statement. Readers are cautioned not to place undue reliance on forward-looking information, which speaks only as of the date of this news release. Except as required by applicable securities laws, the Company undertakes no obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise.

SOURCE DGEN Technologies Corp.

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ASSA ABLOY sells PKI business unit to Vista Equity Partners

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STOCKHOLM, Oct. 16, 2026 /PRNewswire/ — ASSA ABLOY has signed an agreement to sell HID’s PKI business unit to Vista Equity Partners (“Vista”).

The PKI business unit (Public Key Infrastructure) provides digital trust, identity, authentication, encryption, and certificate management solutions. The business unit includes PKI SaaS – IdenTrust and HydrantID – credential management, and ZeroSSL.

“I find it very satisfying that with Vista, the PKI business unit and its employees and customers gain a committed long-term investor, creating new opportunities for the future and I wish them every success,” says Nico Delvaux, President and CEO of ASSA ABLOY.

“Our PKI team has built a strong business with a strong customer base, and Vista has the expertise to take it forward as the market evolves,” says Björn Lidefelt, EVP and Head of HID. “We are pleased with this outcome for our customers, our employees, and for HID.”

The divested business had sales in 2025 of MUSD 58 (approx. MSEK 570) with a strong operating margin.

The divestiture is subject to customary closing conditions and is expected to close during the fourth quarter of 2026.

For more information, please contact: 
Nico Delvaux, President and CEO, tel. no: +46 8 506 485 82
Erik Pieder, CFO and Executive Vice President, tel. no: +46 8 506 485 72
Björn Tibell, Head of Investor Relations, tel. no: +46 70 275 67 68, e-mail: bjorn.tibell@assaabloy.com

About ASSA ABLOY
ASSA ABLOY is the global leader in access solutions. Every day we help people feel safe, secure and experience a more open world. We operate worldwide with 64,000 employees and sales of SEK 152 billion, with leading positions in areas such as efficient door openings, trusted identities and entrance automation. Our innovations enable safe, secure and convenient access to physical and digital places.

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/assa-abloy/r/assa-abloy-sells-pki-business-unit-to-vista-equity-partners,c4410007

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