Q2 2024 Afry AB Earnings Call Transcript
Key Points
- Afry AB (STU:B3Y1) reported a stable quarter with improved profitability, achieving an EBITDA of SEK572 million compared to SEK421 million last year.
- The company saw a total growth of 4.7% and adjusted organic growth of 2.2%, ending up at close to SEK7.2 billion in sales.
- The Infrastructure division showed significant improvement, driven by an ongoing improvement program.
- Afry AB (STU:B3Y1) secured notable projects, including advisory roles for NRK in Norway, technical analysis for Vattenfall in Sweden, and a partnership with food tech company cReal.
- The energy division experienced a substantial uplift in adjusted organic growth from 1.3% to 8.8% since the last quarter, indicating strong demand in the energy sector.
- The market was mixed, with some segments like pulp and paper and telecom and IT facing challenges.
- Process Industries reported a negative growth of close to 6%, reflecting a challenging market in the pulp and paper segment.
- Order stock decreased by 3% year-over-year and 2% quarter-over-quarter, with a negative FX impact contributing to the decline.
- Utilization rates were lower than last year, particularly in the Process Industries division, which saw a significant decline.
- Cash flow from operating activities was somewhat weaker than last year, highlighting ongoing challenges in working capital development and cash flow generation.
Dear, all, a warm welcome to AFRY's webcast for the second quarter. My name is Jonas Gustavsson, CEO at AFRY. And I will start to introduce a couple of summarizing slide, and then I will introduce, Bo Sandström on stage, our CFO, who will take you through a bit more on the financials. But again, a warm welcome to this webcast.
Starting with the summary. For us, it was a stable quarter where we also were able to improve profitability. As you know, that has been really our main focus over the last quarters, so we were happy with that. And again, stability -- we saw stability in the quarter. If you look on the top line, we had a total growth of SEK4.7 billion -- 4.7%, sorry, and adjusted organically, 2.2%, ending up at close to SEK7.2 billion in sales.
The market was mixed. I have a slide -- the next slide. I will go through that a bit in detail. We saw some really strong segment and then we saw a couple of segments with some more challenges for us, but a bit mixed. The order stock is stable, around SEK20 billion, some
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
