Q2 2024 Bravida Holding AB Earnings Call Transcript
Key Points
- Bravida Holding AB (FRA:BV0) reported a total growth of 5% for the second quarter of 2024, with organic growth at 1% and service sales growth at 8%.
- The company has a strong order backlog of SEK17.6 billion, one of the highest ever, providing visibility and comfort for future operations.
- Norway showed significant improvement with a 22% growth in sales and a 10% organic growth, indicating strong performance in this region.
- The company achieved a strong operating cash flow of SEK548 million, a significant increase from SEK134 million last year, with a cash conversion rate of 112%.
- Bravida Holding AB (FRA:BV0) continues to see good opportunities for growth through acquisitions, having completed eight acquisitions in 2024, adding around SEK400 million in sales.
- The EBITDA margin decreased to 4.5% from 5.6% last year, primarily due to operational challenges in three regions in Denmark and a weak market in South Sweden.
- The market in the southern part of Sweden remains challenging, with a negative impact on the company's overall performance in this region.
- Denmark's performance was notably weak, with an EBITDA margin of just 0.1% compared to 4% last year, due to ongoing challenges in three regions.
- Order intake in Denmark decreased by 32%, reflecting the selective approach to new projects in response to market conditions.
- The company faced extra costs related to audits and investigations, amounting to SEK4-5 million, impacting the financial performance in the Swedish segment.
Hi, and good morning, everyone. I'm Mattias Johansson, CEO, Bravida, and I will take you through this presentation of the second quarter 2024 for Bravida, together.
With myself and I'm Ãsa Neving, CFO, Bravida.
Great. Welcome again and we kick off immediately and we will tell you of the experience when it just works. Some things in life, we just expect to work. You expect the light to turn on when you press the switch, for water to flow from the tap and to be able to trust the security systems in a building. Bravida provides technical solutions for everyday live and the future in a way that care for properties, people and the environment.
Bravida in numbers, figures we are present in 190 different locations. We are close to 14,000 employees. And last 12 months we have had sales at close to SEK30 million
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