Green Landscaping Group AB (publ) Earnings Call Transcript
Key Points
- Green Landscaping Group AB (FRA:2WN) surpassed SEK6 billion in revenue, marking a significant milestone.
- The company achieved a profit margin of 8.5%, which is considered strong given their asset-light business model.
- Organic growth was reported at 5%, indicating healthy performance in a challenging market.
- The company successfully integrated four new companies into the group, expanding their market presence.
- Strong performance in the rest of Europe, particularly in Germany and the Baltics, with high organic growth and profitability.
- Cash flow was weaker this quarter due to delayed invoicing and seasonal factors.
- Profit margins in Sweden decreased from 7% to 6.2%, partly due to a problematic contract.
- Net debt to EBITDA ratio increased to 2.7, primarily due to weaker cash flow.
- The landscaping business in Norway showed weaker profit margins due to a high level of project-based business.
- The company faces intensified competition in Sweden, impacting overall profitability.
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I mentioned. My name is Johan Osram. And today I'm joined by our Head of Investor Relation at Magnus Larsson. So welcome, Tim. The first time he's participating and he will cover the financials today as we are in transition between CFOs as we have previously communicated.
So without any further ado, let's move into the report app. From my perspective, we're closing yet another successful quarter and we will surpass our financial targets. We came in strong in sales and we also have strong margins. Cash flow was somewhat weaker, and we'll come back to the reasons why that fund was a weak subset and we have a stable order book. And we are also very happy to welcome four new companies into the group where we had one in April, and we had another three after the end of the period coming in the month of July. And so given the market conditions, it's a strong performance of the Company and we are on track to become the premier player in Europe.
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