Q2 2024 Incap Oyj Earnings Call Transcript
Key Points
- Revenue increased by 2.1% year-on-year to EUR 57.6 million.
- Operating profit (EBIT) rose by 12.9% compared to the first quarter of 2024.
- Successful integration of the US acquisition, contributing EUR 9 million to Q2 revenue.
- Strong cash position with interest-bearing net debt on the negative side.
- Continued investment in facilities and technology, including new machinery in Slovakia and upgrades in the UK.
- Operating profit margin decreased from 13.3% to 11.77% year-on-year.
- Inventory levels remain high at EUR 69.2 million, despite a reduction from the previous year.
- Dependence on the largest customer, with destocking exercises impacting revenue.
- Organic growth excluding the largest customer and acquisition impact is relatively flat.
- Challenges in the renewable industry affecting the end market revenue of the largest customer.
Good morning, everyone, and welcome to Incap's Q2 interim report webcast. My name is Paulina Daniela, and I will be moderating this webcast today. The agenda for today is that Incap's President and CEO, Otto Pokk and CFO Antti Pynnönen we'll go to the second quarter and half year results. And after that, we will get a video update on Incap's US operations. It will be presented by the Managing Director of Incap's Electronics, US Dave Spehar.
After Dave, it is time for questions and answers. (Operator Instructions) You can post your questions in the chat function or during the during the presentation. And you can also watch the recording of this webcast later on at index website. So Otto and Antti Please go ahead.
Thank you very much, Paulina. And hello, and welcome from my side as well. It's always fun to see that there are so many people interested in what we're doing and thank you for all the interest in Incap and the support that we have from you guys.
Let's jump in a little
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