Half Year 2024 Qt Group Oyj Earnings Call Transcript
Key Points
- Qt Group PLC (QTGPF) reported a 23% increase in net sales, reaching EUR 53 million, with a strong EBITA margin of 35%.
- The company's license sales performed well, particularly in the USA and APAC regions, indicating robust demand.
- The QA business segment showed significant progress, contributing positively to the overall performance.
- The company successfully increased its headcount by 31 employees, focusing on strategic areas such as sales and R&D.
- Qt Group PLC (QTGPF) maintained a strong cash flow, with operating cash flow reaching EUR 28 million, and increased its cash reserves by EUR 6 million despite loan repayments.
- The European market showed sluggish performance, impacting overall growth compared to other regions.
- The automotive industry, a significant segment for the company, experienced a slowdown compared to the previous year.
- Maintenance revenues continued to decline year-on-year, although a slight sequential increase was noted.
- The company faces challenges in consulting services as customers tend to do more in-house work during economic slowdowns.
- Global economic uncertainties, including tensions between China and the USA and the war in Ukraine, pose risks to future growth.
Hello, everybody, and welcome to Qt Group's Q2 2024 results presentation. My name is Herte Nervenen. And I'm here today with our CEO, Juha Varelius; and our CFO, Jouni Lintunen, who will be sharing the results.
After the results presentation, we will have time for questions first starting from the room, and if time permits, then from the conference line. Without further ado, please, Juha, the stage is yours.
Thank you. Good morning, everyone, and welcome. Pretty much the same format as usual. We'll have the highlights, then financials and then I'll talk about the guidance outlook. And then there is plenty of time for questions and answers.
So business highlights. Our net sales grew 23% so EUR53 million, growth of 22% on comparable currencies and EBITA margin at 35%. So scalability works very well. We're very happy on these results and they were better than Q1. Of course like I've said many, many times before, the quarters are
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