Q3 2024 Solar A/S Earnings Call Transcript
Key Points
- Solar AS (STU:ZVR) has introduced a new AI tool, Sula, which enhances customer experience by providing fast and comprehensive product information and assistance.
- The company is seeing a gradual recovery in organic growth, particularly in Denmark, indicating potential for future improvement.
- High-capacity heat pump sales are showing increased conversion rates, with a significant order intake expected to be delivered within six months.
- The company is focusing on cybersecurity and ISO 27001 certification, which strengthens risk management and customer trust.
- Despite revenue challenges, Solar AS (STU:ZVR) has managed to maintain a stable EBITDA margin, showing effective cost management.
- Solar AS (STU:ZVR) experienced a revenue decline to DKK2.9 billion in Q3, down from DKK3.8 billion the previous year.
- All main segments, including installation, industry, and trade, posted negative organic growth in Q3.
- The company's climate energy revenue remained low, with a significant drop compared to the same quarter last year.
- Inventory levels are higher than optimal, indicating potential inefficiencies in inventory management.
- The company has adjusted its revenue guidance downwards for 2024, reflecting slower-than-expected recovery in key markets.
A warm welcome to this third quarter webcast for Solar Group together with me here in bind at our headquarter. I have my colleague CFO Michael Jeppesen and our investor relationship manager, Dennis Callesen.
The agenda for today is a general business update with some highlights for Q3 presented by me. Then I will give you a short introduction to how we work with these two, which is cybersecurity but also iso 27 and one which is about data security. Last but not least, I will make a short introduction to our brand-new A I tool which we call Sula as system.
Then I will leave the word to Michael who will present our three Q3 results including a high level cash flow status. And then of course, finally, a Q&A session, if you want to take the next slide, please, as expected, all segments posted negative growth in Q3 and our revenue declined to DKK2.9 billion down from DKK3.8 billion last year.
So our adjusted organic growth amount to minus 5.3 up from 7 8% minus 7 8% in Q2 and minus 15.4 in Q1 2024 in September adjust the organic growth amount to minus 0.6%. Showing that recovery
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