Half Year 2024 Clavister Holding AB Earnings Call Transcript
Key Points
- Clavister Holding AB (FRA:89P) reported its 11th consecutive quarter of net sales growth, with a 17% increase in Q2.
- The company achieved a positive operational cash flow of SEK4.3 million, a significant improvement from the previous year's negative cash flow.
- Order intake for Q2 showed a 13% growth, marking the first time the company exceeded SEK50 million without large defense contracts.
- The company maintained a strong cash position, supported by a cash injection since Q1.
- Clavister's base business, including next-generation firewall and identity access management, continues to provide stable growth and recurring revenue.
- The 17% sales growth fell short of the company's 20% target, partly due to currency headwinds and delayed large deals.
- Gross margins were slightly below the target at 79%, impacted by a higher volume of hardware sales.
- The adjusted EBITDA margin was 12%, below the company's ambition, primarily due to sales not meeting expectations.
- Currency effects negatively impacted revenue growth, with significant fluctuations compared to the previous year.
- The telecom market remains uncertain, with ongoing macroeconomic challenges affecting investment in 5G and cybersecurity.
Good morning, everyone, and welcome to our Clavister Q2 Interim Report presentation. My name is Kate Linwood, and I will be your host for today's session. And I would like to introduce you to our presenters today, which is John Vestberg, Clavister CEO; and David Nordstrom, Clavister's CFO.
So we will start today's presentation with the Q2 report by John and David. And after the presentation, we will have a Q&A session. (Operator Instructions)
So yes, with that, I would like to hand over to you, John.
Thank you very much, Kate. And again, welcome to Clavister's interim report presentation. So to start with, I'm really happy to see that the transformation journey we are on continues according to our strategy.
So this quarter, actually, the notes are 11 consecutive net sales growth quarter. So if everything goes according to plan, there is a good chance that we are to celebrate a three-year growth quarter
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