Q1 2021 Balco Group AB Earnings Call Transcript
Welcome to the Balco Q1 Report 2021. (Operator Instructions) Today, I'm pleased to present, CEO, Kenneth Lundahl. Please begin your meeting.
Thank you. We'll start with presenting the Q1 report of Balco on Page 2. Balco is helping customers, which have problem with existing balconies, and also looking to calculate all balconies that are bigger balconies, open organized. We are mainly focused in the renovation segment where we will sell sales process and have a very strong logistic delivery function.
Page 3. Sales and profit is negatively affected by COVID-19 in the quarter. Order intake, plus 5% higher than sales. Order backlog increased by SEK 40 million in the quarter. Net sales challenged SEK 50 million compared to SEK 321 million last year. And operating profit, SEK 22 million compared to SEK 34 million last year in the quarter 1.
COVID-19, Balco is heavily affected of COVID-19. The last 12 months, our order intake has been weak. And this affects turnover and profit in Q1. We believe
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