Half Year 2024 Eltel AB Earnings Call Transcript
Key Points
- Eltel AB (FRA:E5E) reported a solid organic growth of 5.3% in the segment and 3.8% for the whole group, aligning with their targets.
- The company secured a significant contract valued at EUR 317 million, increasing their order book value to EUR 1.3 billion.
- Gross profit year-to-date increased by 40%, from roughly EUR 29 million to over EUR 40 million.
- Cash flow year-to-date has improved across all segments, and the liquidity situation is significantly better than a year ago.
- The divestment of the high-voltage Poland business was finalized, reducing risk and allowing stronger focus on core markets in the Nordics.
- There was a decline in volume in Norway, negatively impacting both the top line and bottom line.
- The communication market in Norway was slower than anticipated, leading to a negative EBITDA of EUR 1 million for the second quarter.
- The updated market regulation in Finland has created hesitation and reduced investment from power distributors.
- The divestment of the high-voltage Poland business resulted in a negative EUR 23.1 million impact on the financial results.
- The shift from communication to power projects incurs additional costs and has a temporary negative impact on profitability.
Warm welcome to this presentation of the second quarter results by Elton. My name is [Alexander Shannon]. I am Communications Director at Alten, but you won't see so much of me because the presentations will be held by our President and CFO CEO. Qualcomm does as well as RCFO. Tata.
Yes, Lake. And after their presentation, we will open up for questions. And you're most welcome to post these questions through out the webcast, either online via the webcast or by dialing in. And if you dial in your press hash key five on your key.
And with that, I think it's time to and over to you, Mark, and
Thank you, Alexander, and good morning and welcome, everybody, and I will go through shortly. Our highlights from the second quarter, and I would like to start with the net sales. I think we have a solid growth, happy to see 5.3% organic growth in the segment and for the whole group, 3.8%. So in line with our targets, really nice to see.
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