Q2 2024 Volati AB Earnings Call Transcript
Key Points
- Volati AB (FRA:VOG) reported a solid quarter with sales and EBITA in line with last year's figures despite challenging market conditions.
- Salix Group achieved a 6% sales growth and slightly improved margins, demonstrating effective cost management and long-term value creation.
- Ettiketto Group saw a 7% organic growth in sales and a 30% EBITA growth, driven by successful add-on acquisitions and efficiency improvements.
- Operational cash flow improved by 26% compared to last year, indicating strong cash management.
- The company is in a good financial position with a net debt-to-EBITDA ratio of 2.7 times, providing room for further acquisitions.
- Industry segment experienced a 12% decline in sales and a 19% decline in EBITA, primarily due to a slower 5G rollout.
- EBITA growth per common share was at minus 17%, significantly below the target of 15%, due to market headwinds.
- Return on adjusted equity came in at 17%, below the financial target of 20%, driven by lower EBITA growth.
- Salix Group has faced eight consecutive quarters of negative organic growth, reflecting ongoing challenges in the construction market.
- The company is still experiencing a challenging market environment with declining volumes in both the construction market and the 5G rollout.
Good morning, and welcome to today's webcast presentation with Volati. With us presenting today, we have the CEO, Andreas Stenbäck, and CFO, Martin Aronsson. (Operator Instructions)
With that said, I'll give the floor to you guys. Please go ahead with the presentation.
Thank you. And thank you, everyone, for listening in today despite the summer that we have outside. Let's start by getting into the presentation.
First, a short -- a couple of comments on our second quarter. It's a solid quarter, which I am very happy about given the circumstances. We have sales and EBITA and thus also margins that came in line with last year's quarter, which is very strong in that we still see a challenging market environment with declining volumes, both in the construction market and the 5G rollout. However, we do see some positive signs on the horizon as the volume decline in our part of the construction market are somewhat lower in this quarter. And we do also see some signs of -- positive signs with
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