Jul 14, 2022 / 07:00AM GMT
Fredrik Palm - Desenio Group AB(publ)-CEO
Thank you very much, operator, and welcome, everybody, to Desenio Group's Q2 results presentation conference call. So with me today, I have our CFO, Kristian Lustin. Presentation materials are available on our website, and a Q&A session will follow them as usual.
Page 3, please. So during the second quarter of the year, we continued to experience a challenging market with decreasing online demand for affordable art. As a result of this, we decided to take necessary measures to adapt the business to the current market conditions. Therefore, a cost-savings program was implemented to ensure future profitability and cash flow.
Our focus now going forward will be to not only defend but also strengthen our current market shares in Europe and continue a path of expansion in North America. We still believe that the North American market has great potential for us, and the plan is to be breakeven in terms of cash flow in Q2 2023.
Next slide, please. The cost savings program was implemented in June and is set
Q2 2022 Desenio Group AB (publ) Earnings Call Transcript
Jul 14, 2022
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