Oct 31, 2022 / 01:30PM GMT
Operator
Welcome to the Balco Audiocast Teleconference Q3 2022. (Operator Instructions)
Today, I am pleased to present acting CEO, Camilla Ekdahl; and CFO, Michael Grindborn. Please begin your meeting.
Michael Grindborn - Balco Group AB - CFO, Secretary of the Board and Head of IR & IT
Thank you.
Camilla Ekdahl - Balco Group AB - Acting President & CEO, COO and CEO of Balco AB
Thank you. Welcome. Yes, we start with some highlights. The net sales for the quarter increased by 28%, all organic growth, and for the 9-month period the increase was 19% of which 15% was coming from organic growth. We have a very strong operating cash flow also during the period and also for the start of the year.
However, the result is lower than we have expected, and it's mainly the gross margin which is deviated. We have continued project deviations in Norway, rising material prices per class as well as increased energy costs and transport costs also weigh on the result.
We also had some orders which have been
Q3 2022 Balco Group AB Earnings Call Transcript
Oct 31, 2022
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