Q2 2024 Eckert & Ziegler SE Earnings Call Transcript
Key Points
- Eckert & Ziegler SE (XTER:EUZ) reported a 23% increase in sales for the first half of 2024, with the medical segment growing by 32%.
- The company achieved an EBIT adjusted margin of 22%, surpassing their 20% target.
- Net income grew by 65%, demonstrating strong financial performance.
- The company received the Best Managed Companies Award, highlighting effective management and operational success.
- Eckert & Ziegler SE expanded its market presence in North America, contributing to a 42% growth in that region.
- Higher costs of goods sold (COGS) and raw material expenses impacted profitability.
- The company is facing hyperinflation effects from Argentina, affecting business by approximately EUR 2 million annually.
- Despite strong growth, the company anticipates a slowdown in the oil well logging business in the second half of the year.
- Investment in the actinium production site in Europe has been slower than planned, affecting capital expenditure execution.
- The company has a higher than anticipated cash position due to delayed capital expenditures.
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A big welcome to everybody. (Event Instructions)
I have the pleasure to lead you through the first half year of '24. My voice is a little off because I have a cold throat, but that shouldn't disturb us too much from presenting wonderful numbers which you have preliminary received a while ago when we had a talk was released in August. Now there's more precise data, I would like to share more in-depth details here with you for the last six months and also for the outer period this year. It will take some 20 slides. And then as usual, we will go through the list of questions. Whoever wants to join is very much invited.
Good, then let me see. There we go. This is the usual disclaimer as you know. Now the Board of the -- first off, the Executive Board hasn't changed. China is of highest importance, as you know, for our corporation, and Frank Yeager running the US business for the IP segment is also later on available via e-mail if you have any specific questions you
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