Q2 2024 Instalco AB Earnings Call Transcript
Key Points
- Instalco AB (LTS:0RP5) reported a stable development of sales above SEK14 billion and an order backlog exceeding SEK9 billion.
- The company maintained a solid cash flow of SEK907 million.
- Instalco AB (LTS:0RP5) launched a new business area, Inmatiq, focusing on property and process automation.
- The company continues to prioritize margins over volumes, reflecting a strategic focus on profitability.
- Instalco AB (LTS:0RP5) remains best in class with an EBITA margin of 7.2% despite market challenges.
- Net sales declined by 4.6% in Q2, amounting to slightly above SEK3.6 billion.
- Organic growth was down 6.4%, reflecting a challenging market environment.
- EBITA margin decreased from 7.7% last year to 7.2% this quarter.
- Cash flow from operations dropped to SEK158 million compared to SEK225 million in the same quarter last year.
- The company is still affected by projects taken during the second half of 2023 when market conditions were worsening.
Hello, everyone, and welcome to this presentation of Instalco's report for the second quarter of 2024. My name is Robin Boheman, CEO of Instalco. And with me today, I have our CFO, Christina Kassberg.
I think you all know this slide by now, but to give a quick recap, Instalco is one of the leading installation groups in the market of Sweden, Norway, and Finland. As you all know, we operate in a very decentralized module, but with strict control mechanisms. In total, we have over 6,200 employees working every day to help facilitate the green transformation.
Demand for our services that we offer is supported by several strong underlying market drivers and all of obviously, green transformation being one of them. When looking at these figures of for rolling 12 months, we clearly report a stable development of sales of above SEK14 billion, and order backlog reaching above SEK9 billion.
We have an EBITA of SEK1,051 million and contributing to an EBITA margin of 7.4%. Solid cash flow of SEK907 million and the number of
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