Q3 2024 Europris ASA Earnings Call Transcript
Key Points
- Europris ASA (LTS:0RAI) reported a significant group sales increase of 50.4%, with an organic growth of 4.4%.
- The company has successfully completed the acquisition of a Swedish discount retailer, adding around NOK 4 billion to the top line.
- Europris ASA has taken new market shares in Norway, showing sales growth above the market average.
- The integration of the Swedish operations is progressing according to plan, with positive contributions from employees and good spirits within the organization.
- Europris ASA received top scores in PricewaterhouseCoopers Climate Index for 2024, highlighting its commitment to sustainability and climate efforts.
- EBIT decreased by NOK 67 million, with a loss in the Swedish segment of NOK 45 million.
- The gross margin faced pressure due to a change in sales mix, higher freight costs, and currency depreciation.
- Net profit declined by NOK 60 million, impacted by unrealized losses on interest rate swaps.
- Cash from operating activities decreased significantly from NOK 734 million last year to NOK 365 million.
- The Swedish segment experienced stable footfall but faced challenges with low inventories and limited availability of nonfood goods.
Good morning, everyone and welcome to Adpri presentation of results for the third quarter. It's been a basic quarter for us. We are where we show steady growth in Aries and the integration is progressing according to plan.
Joining me on stage to present the results today, our CFO Steve Abira and manager Rein will manage the Q&A session at the end of the presentation, but please feel free to send in your questions as we speak.
Before we start, I would like to thank a BG for hosting today's event and also wish you very welcome to the live audience we have in the room here today.
The growth journey of Ape has been stable and good for many, many years. And before the pandemic, we had almost 30 years of consecutive growth for the Aice chain. And during the pandemic, many new customers discovered our low price stores in the years after we have managed to keep these customers at a pace. And we have also completed the acquisition of Meca Lein.
And in May this year, we completed the acquisition of the swedish discount
| 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
