Q2 2024 Beijer Alma AB Earnings Call Transcript
Key Points
- Beijer Alma AB (LTS:0YG7) reported organic growth in both order bookings and net revenues, with a 2% organic increase in each.
- The Nordic region emerged as the strongest region for growth, particularly in the industrial springs segment.
- Beijer Tech's newly formed business area in niche technologies and fluid technology showed significant growth, with fluid technology growing by 32%.
- The company announced two new acquisitions: Clemco Norge and Clifford Springs, which are expected to strengthen operations in Norway and the UK respectively.
- Adjusted operating profit for the group was SEK249 million, maintaining a stable margin of 13.2%.
- Lesjofors experienced a mixed demand picture, with a 1% decrease in order bookings and a 4% decrease in net revenue overall.
- Central Europe and Asia showed disappointing performance with lower demand from customers.
- The US market had lower deliveries to medical projects compared to the previous year.
- Chassis Springs saw a slowdown towards the end of the quarter, resulting in a 6% decrease in revenue compared to last year.
- Economic uncertainty and high interest rates pose challenges, requiring a balance between investing for growth and cost-saving measures.
Good morning, everybody, and welcome to our webcast, where we today will present our second quarter 2024 this beautiful summer morning. I'm Henrik Perbeck and with us is also Johan Dufvenmark, our CFO.
Good morning, everybody.
So we will present today the overall performance and recent developments on Beijer Alma Group. In addition, we will discuss our reporting segments, our two main subsidiaries, these are Lesjöfors, which is a full range supplier of standard and customized industrial springs and other wire and flat strip components. Lesjöfors is acting globally with majority of sales in Europe and the USA.
And it is Beijer Tech, which acts mainly in the Nordics, within specialized manufacturing, value-adding, industrial trading and automation in profitable niches and may take us also platform for acquisitions
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