Q3 2024 Green Landscaping Group AB (publ) Earnings Call Transcript
Key Points
- Green Landscaping Group AB (OSTO:GREEN) achieved an organic growth of 3% in the third quarter, despite challenging market conditions.
- The company's EBITA margin remained strong at 8.4% for both the quarter and the rolling 12 months, exceeding financial targets.
- The company successfully completed three acquisitions in the quarter, contributing to its growth strategy.
- Green Landscaping Group AB (OSTO:GREEN) reported a significant increase in cash flow from operating activities, aligning with its investment strategy.
- The company has a solid order backlog, indicating stability and future growth potential in the market.
- The profit margin in Sweden decreased to 6.1%, which is below the company's expectations and requires improvement.
- There is increased competition in the market, impacting profit margins and necessitating a focus on maintaining profitability.
- The company is experiencing a slight decrease in profit margins due to market competitiveness.
- Financial gearing remains at 2.7%, which is above the company's target level, indicating a need for careful financial management.
- The company has not paid a dividend, which may be a concern for some investors seeking returns.
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Good morning and welcome. Today, I am again joined by our Head of Relation Magnus and he will be covering the financial section of this presentation as our new CFO will join us later in the year as we have previously communicated, just a short introduction to re but there that the third quarter, from my perspective, it was yet another solid quarter. We delivered an organic growth of 3% and we are at 2% organic growth for the rolling '12 months. This is despite having faced market headwinds for more than a year.
Of course, during this time, our EBITA margin has remained above 8% which is our main focus. I am quite happy to see that we have a stable margin going on here. The cash flow in the quote very strong as we did have somewhat weakened cash flow in the first or delayed cash flow in the first and second quarter. As anticipated that resulted in a very strong cash flow performance in the third quarter.
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