Q2 2024 Fagerhult Group AB Earnings Call Transcript
Key Points
- Return to growth in order intake and net sales for Q2 2024.
- Improved gross profit margins despite higher operating expenses.
- High product innovation activity with new launches from We-ef and Iguzzini.
- Strong focus on sustainability with significant progress on science-based targets.
- Positive outlook for the renovation market, which is a key focus area for the company.
- Operating margin impacted by higher operating expenses.
- Newbuild market remains constrained by high interest rates.
- Higher operating costs in the early part of the quarter affected profitability.
- Challenges in the infrastructure business area, particularly in the Vehicle segment in Holland.
- Continued need for significant investment in smart lighting solutions, impacting short-term profitability.
Hello, everyone, and welcome to the presentation of Fireball Group's second quarter results for 2024. On the call today, we have our President and CEO, Bodil Sonesson; and my self. Presentation will start with Bodil, giving us a brief update on our results for the second quarter.
And then Bodil will then continue to update you on some strategic highlights today focused science-based targets plus innovations launched during the quarter. After that, I will follow with more details about the financial performance of the Group and Bodil will conclude with a brief recap and afterwards, we will open for questions.
We will first allow questions from the conference call. Then we will allow for questions from the webcast. You can post questions in the chat window on your screen, and I will read them out for Bodil and myself.
Before we start, let me also remind you that today's session is being recorded and will be available on our website later today.
With that, I hand over to Bodil. Please go ahead.
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