Q2 2024 Lassila & Tikanoja Oyj Earnings Call Transcript
Key Points
- Strong performance in Industrial Services with a nearly 10% increase in sales compared to the previous year.
- Successful restructuring and efficiency measures in Facility Services Finland, leading to improved profitability.
- Expansion in the north of Sweden, strengthening the company's position in the Swedish market.
- Significant improvement in customer satisfaction (NPS score) across all business lines.
- Notable advancements in occupational safety and a reduction in sick leaves, reflecting positive sustainability efforts.
- Overall economic slowdown in Finland, particularly affecting the construction industry and other customer segments.
- Decline in Environmental Services sales by 1%, impacted by market conditions and economic slowness.
- Loss of a large customer in Sweden at the end of 2023, resulting in a significant decline in top-line development.
- Negative cash flow impact in the first half of 2024, with net cash flow after investments amounting to minus EUR3.7 million.
- Decrease in capital expenditure from EUR31.8 million in H1 2023 to EUR21.7 million in H1 2024, mainly in machinery and equipment.
Hello, everyone, and welcome to Lassila & Tikanoja Oyj half year result webcast. The webcast is hosted by L&T's Eero Hautaniemi and our new CFO, Joni Sorsanen. There's an opportunity to ask questions at the end of the presentations by using the phone or via the chat functionality. But before we start, would you Joni like to introduce yourself briefly?
Yes, absolutely. So hello, everyone. My name is Joni Sorsanen, and I started as CFO of L&T group in the beginning of July. And I joined the company from comms to plc where I also acted as CFO. I have roughly 15 years of experience from Finnish listed companies such as Cramo, Caverion and cause the all of which are so-called these centralized service businesses. And my target here at LIFT is to help the company in planning and implementing the new operating model whereby we like to we would like to increase the cooperation between our divisions and the group functions. And I will also focus on developing the overall financial steering of
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
