Q1 2024 Bergman & Beving AB Earnings Call Transcript
Key Points
- Revenue increased by 2% despite challenging market conditions.
- Gross margin improved by 1% to reach 47%, indicating better cost management.
- EBIT increased by 13%, delivering SEK119 million this quarter.
- Strong cash flow from operating activities, ending with SEK194 million.
- 18 consecutive quarters of EBITDA increase, with a 13% rise this quarter.
- Organic growth was negative at -7%, reflecting underlying market challenges.
- Some divisions, like Core Solutions, experienced weaker demand affecting revenue and EBITA.
- Safety Technologies division is only on par with last year, showing no significant improvement yet.
- Inventory turnover has not yet returned to pre-COVID levels, indicating inefficiencies.
- Continued weak demand from industrial customers, particularly in the Nordic region.
So welcome, everyone to this conference on the interim report for our Q1. And we will do as always, we will start to present the quarter and the quarter results. And then we will have an Q&A after the presentation.
So let's start with some highlights from the first quarter. We have a improved result, profitability as well as cash flow in this quarter. And if we take some kind of non figure highlights, so we communicated in June that we have renamed our division to mark our expanded acquisition strategy. This doesn't imply we haven't changed the kind of company that is part of each individual division. So it's kind of similar structure going forward. It's more like a mark setting that we will have a broader strategy in terms of acquisition going forward.
And also our acquisition ambition is unwavering. We made one acquisition in the first quarter and we made one acquisition July 1. So we have a little bit slower tempo than we had last fiscal year. But you shouldn't see that as a signal that the ambition or
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