Q2 2024 Nilorngruppen AB Earnings Call Transcript
Key Points
- Order income increased by 24% in the quarter, driven by a bounce back in the outdoor and sports brand segments.
- Sales rose by 14% to SEK262 million compared to SEK230 million in the previous year.
- Operating profit significantly improved to SEK24.8 million from SEK12.7 million last year.
- The company has a strong equity position and reduced interest-bearing debt, leading to lower interest costs.
- The Nilörngruppen AB's digital platform, Nilörngruppen:CONNECT, is gaining traction and supporting clients with EU legislation compliance.
- Personnel costs have increased due to higher employee numbers and salary increments, including bonuses.
- Net financial income decreased to SEK872,000, primarily due to currency loss effects.
- The luxury segment showed weaker development compared to previous strong performance.
- Cash reserves have decreased slightly due to dividend payouts and debt repayments.
- The company faces challenges in predicting the exact timing of order income realization between Q3 and Q4.
Good morning. Good morning, everybody, to Nilörn Q2 presentation. For your information, this presentation will be recorded so I hope you're okay with that. There will also be a possibility to ask questions and you can just send them in the Q&A and Maria will later on present them for everybody and read them for us.
And if there are time for that, she will take as many questions as there are time for. But I will share here my presentation. I hope you will see it. And as usual, I will start with the financial performance, and then we'll go over to a little bit more update of what's going on within the group.
First of all, as you have seen probably in the report, the order income was up 24% in the quarter. It's bounced back, especially for the outdoor and the sports brand, which is good, as also -- as predicted in the Q1. So that is what we said in the Q1 and that is what's happening, especially for the outdoor and the sports brand. And that is good because that is what will come in the coming quarters in Q3 and in Q4.
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