Q1 2024 Note AB (publ) Earnings Call Transcript
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Welcome to this Q1 presentation of NOTE. As always, how do I describe this quarter and where we are standing? Yet another quarter, quite much affected by inventory optimization among our customers. That means that they are buying less than they sell.
We see that some segments are doing quite weak. We will come back to that later on in the presentation. But we can see that the green tech sector is not picking up as we had expected when we entered this quarter, we're I'm comparing our Q1 numbers compared to quite low numbers last year already.
So this surprises us a little bit. It's quite far below our customers' communicated expectations as well. So that recovery that we have been talking about for some quarters is still not happening. That is one of the reasons or probably the main reason why we did not end up in the middle of our guidance, rather in the lower end of the guidance.
We can also see that this segment is not expecting to go so much better in
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