Q1 2024 Clas Ohlson AB Earnings Call Transcript
Welcome to the Clas Ohlson Q1 2023/2024 Report Presentation. (Operator Instructions)
Now I will hand the conference over to CEO, Kristofer Tonström; and CFO, Pernilla Walfridsson. Please go ahead.
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Good morning, everyone, and welcome to Clas Ohlson Q1 report. My name is Kristofer Tonström. I'm CEO, and I'm here with Pernilla Walfridsson, CFO. So we'll cover a short presentation before we move into the Q&A, and I'll cover the business update and the events after reporting period and summary, and Pernilla will take us through the financial development.
So headlining the first quarter and also August, we have started the year well, with 8% organic growth and 9% like-for-like. We have also seen an improvement versus last year in gross margin and cash flow. And we're ending the autumn now with a healthy and balanced inventory, which is below last year's levels.
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