Q2 2024 Trelleborg AB Earnings Call Transcript
Key Points
- Trelleborg AB (FRA:TLLB) achieved organic growth and improved margins, with EBITA reaching SEK 1.6 billion, the highest to date.
- The company completed two acquisitions in the quarter, strengthening its position in semiconductor manufacturing and pipe rehabilitation.
- Automotive sales continue to grow, particularly strong in Asia, contributing positively to the overall performance.
- The company reported a solid cash flow of SEK 1.2 billion, maintaining a strong cash conversion rate of 88%.
- Trelleborg AB (FRA:TLLB) has made significant progress in sustainability, with substantial improvements in CO2 emissions and increased use of renewable and fossil-free electricity.
- Sales in Europe declined by 1%, impacted by lower project sales, contrasting with growth in Asia and the Americas.
- Industrial solutions experienced slightly negative organic sales, with residential construction and industrial segments remaining weak.
- Medical solutions saw a decrease in EBITA despite sales growth, due to ongoing investments and added costs in the new business area.
- The company faces continued challenges in residential construction and some industrial segments, impacting overall performance.
- Geopolitical uncertainties remain a concern, potentially affecting future business operations and market conditions.
Thank you, and welcome to all of you to this interim call for Trelleborg covering quarter two, 2024. We will refer to the slides who is on our homepage as usual and use them as a guidance throughout the call. And as usual, I'm going to kick off, Peter. and give you some overall highlights and then supported by Fredrik Nilsson, our CFO, who's going to guide you through the financials, and then I'm going to sum up with some comments on the running quarter. And then, of course, at the end, also, as usual, opening up for a Q&A session.
So once again, back to the slide presented on homepage and turning to page 2, agenda slide. Starting off with some highlights, some comments on our business areas. Then Fredrik will guide us through some comments on the financial and then finishing off with a summary and some comments on the running quarter and then opening up for Q&A.
Turning to page 3, heading for our report, organic growth and improved margin. We are back to a positive territory, although slim, but
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