Q3 2020 Balco Group AB Earnings Call Transcript
Hello, and welcome to the Balco Q3 Report 2020. (Operator Instructions) Today, I'm pleased to present CEO, Kenneth Lundahl. Please go ahead with your meeting.
Thank you. Welcome to the Q3 reporting of Balco. We'll start with Page 2.
Balco helps customers which have problem with their existing balconies, and our solution is to take away the old balcony, put up a bigger, in most cases, glazed balcony. We are focusing mainly on the renovation segment. We have unique selling process, helping the customer to the whole process.
Page 3. Q3, strong financial position, but quarter affected by COVID-19. We have an improved EBIT margin but negative COVID-19 impact. Net sales was SEK 258 million compared to SEK 292 million last year, operating profit SEK 29 million compared to SEK 31 million. Operating margin improved to 11.2% compared to 10.7% last year.
COVID-19. The second wave of COVID-19 with increased spread of infection in most countries have postponed Balco's order intake in the
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