Q3 2024 Fluidra SA Earnings Call Transcript
Key Points
- Fluidra SA (XMAD:FDR) reported strong sales growth across all regions, with North America leading the performance.
- The company successfully executed its Simplification Program, resulting in improved gross margins and significant cost savings.
- Cash generation was robust, with effective working capital management contributing to a reduction in net debt.
- Fluidra SA (XMAD:FDR) updated its full-year guidance, raising the midpoint for both sales and EBITDA.
- The company was awarded Vendor of the Year for the fourth consecutive year by key distributors in the US, highlighting its customer-centric approach.
- Pricing was negatively impacted in the quarter, primarily due to a mix situation in the chemical business.
- Operating expenses increased by 9%, driven by investments in digitalization, R&D, and inflation in labor costs.
- The new construction demand remained weaker year-on-year, although it was offset by resilient aftermarket demand.
- There is uncertainty in the macroeconomic environment, which could impact future performance.
- The company faced higher-than-expected provisions on warranties due to quality issues with a batch of products.
Good morning, and welcome to our third-quarter 2024 results call. I'm Clara Valera, Strategy, Investor Relations, and M&A Senior Director. Joining me today on this call is our Executive Chairman, Eloy Planes; our CEO, Jaime Ramirez; and Xavier Tintore, our CFO. They will walk you through a few slides on our results, and then they will be able to take your questions.
(Event Instructions)
The presentation is accessible via our website, fluidra.com and has also been uploaded to the Stock Exchange Commission this morning. A replay of today's presentation will be made available on our website later today.
With that, I hand over to our Executive Chairman, Eloy Planes.
Thanks, Clara. Good morning and thank you for joining our call today and for your interest in Fluidra. Before to start, I just want to extend my thoughts to the victims and families to the extremes floods in Valencia
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