Q2 2025 Ferronordic AB Earnings Call Transcript
Key Points
- Revenue in Germany increased by 10% to SEK366 million, showing positive growth in a challenging market.
- Service and parts sales in Germany increased by 6% to SEK152 million, indicating strong aftermarket demand.
- Net finance costs decreased by 26% during the quarter, positively impacting the net result.
- Net debt decreased to SEK1.679 billion, mainly due to loan repayments and currency effects.
- The US market in Ferronordic's territory increased by 10%, showing strong demand despite uncertainties.
- Overall revenue declined by 2% to SEK1.088 billion, with a notable 54% decline in Kazakhstan.
- Operating profit was negative at SEK5 million, primarily due to lower contributions from the US segment.
- Gross profit declined by 4% to SEK177 million, with a decrease in the US segment's operating profit.
- The market share in the US decreased as fewer new machines were added to the rental fleet.
- Truck registrations in Germany decreased by 27%, reflecting a challenging market environment.
Welcome to the Ferronordic Q2 2025 report presentation. (Operator Instructions) Now, I will hand the conference over to speaker CEO, Henrik Carlborg and CFO, Eric Danemar. Please go ahead.
Good morning, everybody. Thank you for your interest in Ferronordic, and welcome to our presentation on the results of the second quarter 2025. Looking at some highlights for the group during the quarter, we had stable sales and stable cash flows, revenue amounting to SEK1.088 billion, slightly lower than last year. Cash flows from operating activities amounted to SEK262 million compared to SEK270 million last year. Gross profit declined by 4% to SEK177 million compared to SEK185 million last year.
Gross margin was largely unchanged at 16.3% with higher gross margin in Germany and lower gross margin in the US. SG&A across the group decreased by 6%. All in all, we had an operating profit of minus SEK5 million compared to minus SEK4 million last year. Net finance costs decreased by
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