Q2 2024 El En SpA Earnings Call Transcript
Key Points
- El.En. SpA (FRA:EE5) achieved a strong EBIT margin of close to 11% despite a decline in revenues.
- The medical sector showed good performance in Q2, with results in line with the same period in 2023.
- The company reported an excellent net income of EUR27.4 million, surpassing 2023 on this metric.
- Innovative processes and product offerings in areas like urology and aesthetic medicine registered excellent performances.
- The company maintained a strong position in international markets, recognized as a leader in several application segments.
- Group revenues declined by approximately 9% compared to the corresponding period of 2023.
- The industrial sector, especially in cutting, faced significant challenges, causing a decline in revenue and profit.
- The Chinese market continues to suffer from a structural crisis, impacting domestic demand and pricing.
- The US market for specific medical applications did not maintain previous years' revenue levels.
- The IPO process for the laser cutting division in China was interrupted due to inadequate financial results and market weakness.
Each of these statements in this call, including those addressing the company's beliefs, plans, objectives, estimates or expectations or possible future results or events are forward-looking statements. Forward-looking statements involve known or unknown risks, including general economic and business conditions and conditions the industry we operate, and may be affected as should our assumption then to turn out to be inaccurate.
Conceivably no forward-looking statements can be guaranteed and actual future results, performance or achievements may vary materially from those addresses or implied by such forward-looking statements.
The company undertakes no obligation about the contents not to update the forward-looking statements to reflect events or circumstances that may arise after the date hereof. (Operator Instructions) On the chart of the Bianca Fersini Mastelloni, she will be pleased to introduce you according to the booking order. So at this time, I will give the floor to Andrea Cangioli. And So Andrea, please go ahead.
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