Q3 2024 Indutrade AB Earnings Call Transcript
Key Points
- Indutrade AB (IDDWF) reported a stable order intake with a total growth of 4% and 2% organically.
- The company completed 13 acquisitions in 2024, contributing to a strong acquisition pipeline.
- EBITDA margin remained high at 14.8%, despite a slight decline from the previous year.
- Strong cash flow was maintained, with SEK1 billion generated in the quarter.
- The company has a solid financial position with a net debt to EBITDA ratio of 1.6 times, improved from last year.
- Book to bill ratio was below one, indicating potential future sales challenges.
- EBITDA decreased by 1% compared to last year, driven by soft organic sales development and higher expenses.
- The business climate in infrastructure, construction, and parts of the engineering segments remained dampened.
- Organic sales development was flat, and the company faced slightly higher expenses impacting profitability.
- The decline in the UK and Ireland sales was attributed to weaker performance in the construction segment.
Welcome and good morning on our behalf as well. As usual, let's start with this quarter's highlights. We had a stable order intake. The growth was 4% in total and 2% organically. And four out of five business areas had organic order intake growth.
The strongest demand for companies in the process industry and in the energy sector. Net sales increased 2% in total organically, it was flat versus last year. EBITDA margin was stable and at a high level, 14.8%, we continued with inventory reductions in the quarter and we also had a strong cash flow.
One acquisition completed in Q3, 1 so far in Q4 and 13 in total 2024 and a continued strong pipeline and I will elaborate more on all these points in the presentation here.
So if we start with the order intake and the sale situation, as I said, order intake plus-4% and sales plus-2% in total. And this was supported by a good acquisition pace. An acquisition impacted with plus-5% both in order intake and sales. Organically, order intake grew 2% and for the sales, it
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