Q2 2024 Nederman Holding AB Earnings Call Transcript
Key Points
- Nederman Holding AB (OSTO:NMAN) reported the second most profitable quarter in its history.
- The company saw improved profitability with an adjusted EBITA margin of 12.8%, up from 12.0% in the same quarter last year.
- Service business growth contributed significantly to the higher profitability.
- The company launched several new products, including energy-efficient filters and digital solutions, which have been well-received in the market.
- Strong performance in the EMEA region with growth in orders and sales, particularly in the extraction and filtration technology division.
- Orders received for the group as a whole were down, particularly in the process technology division.
- Sales decreased during the quarter, with a notable drop in the process technology division.
- Currency neutral order intake was down 8.9% year-over-year for the quarter.
- The company faced one-off costs related to the relocation of RoboVent operations, impacting profitability.
- Economic uncertainty and geopolitical risks pose potential challenges to future growth and investment decisions.
Good morning, everybody, and welcome to Nederman's interim report for quarter two of 2024. If I start by dispelling maybe any rumors there may be, Sven is not here today. Unfortunately, he had to attend a private event, a funeral, but like I say, that would probably have been the first question, where is Sven, and I've put that one away.
If we move on to the quarter two, fortunately for me, this is a rather good report to presenting as we see it. This is the most -- the second most profitable quarter ever in the Nederman Group history. Unfortunately, for this presentation, the quarter two last year was actually the most profitable quarter in the year. So some very tough comparative figures, but we will come back to that.
Quarter two had good profitability development, higher margins overall, and strengthened position for the Nederman Group. In the quarter, we have continued to focus on the development of the range. We've made some new product releases, which I will come back to, and we believe we are
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