Nordic Waterproofing Holding AB (LTS:0RH9)
kr 169.6 2.6 (1.56%) Market Cap: 4.01 Bil Enterprise Value: 4.80 Bil PE Ratio: 21.03 PB Ratio: 2.20 GF Score: 76/100
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Half Year 2024 Nordic Waterproofing Holding AB Earnings Call Transcript

Jul 17, 2024 / 08:00AM GMT
Release Date Price: kr161

Key Points

Positve
  • Strong performance in Denmark and Sweden, maintaining stable demand.
  • Improved profitability in the green infrastructure business despite decreased sales.
  • Stable bitumen-based waterproofing operations in Sweden and Denmark.
  • Continued focus on maintaining a solid balance sheet and low debt levels.
  • Positive development in sales for prefab elements in the Danish market.
Negative
  • Significant decrease in net sales from SEK1,292 million to SEK1.196 billion.
  • Continued very weak demand in Finland, impacting overall performance.
  • EBITDA and EBIT both decreased, indicating lower profitability.
  • Installation services experienced lower sales and slightly decreased margins.
  • Unsatisfactory profitability levels in the prefabricated elements group, requiring restructuring.
Per;Olof Schrewelius
Nordic Waterproofing Holding AB - Chief Financial Officer, Head of Investor Relations

So welcome, everyone, to this Nordic Waterproofing earnings conference call after our second quarter of 2024. May I remind everybody that this webinar is being recorded and also that the participant names are disclosed on the screen here.

With that, may I introduce our President and CEO, Martin Ellis. And Martin, I hand over to you for starting the presentation here.

Martin Ellis
Nordic Waterproofing Holding AB - President, Chief Executive Officer

Yeah. Thank you very much, Palle. Welcome, all. Thank you for participating. So let's jump right into it.

The second quarter was in line with expectations, in the sense that we've seen a continuation of the demand trends of the most recent previous quarters. And we have a mixed bag in terms of demand and performance, strong performance in Denmark and Sweden, but continued very weak demand in Finland, which, as you know, is our biggest country. So that explains the results

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