Q1 2025 NCAB Group AB (publ) Earnings Call Transcript
Key Points
- NCAB Group AB (LTS:0AAQ) reported a 10% improvement in order intake compared to Q4 and Q3, with strong performance in North America and the East.
- The company announced the acquisition of B&B Light Service in Germany, enhancing its coverage in the industrial and energy sectors.
- NCAB Group AB (LTS:0AAQ) has invested in building a factory base outside China, providing opportunities to offset tariffs and diversify supply chains.
- The company maintains a strong book-to-bill ratio of 1.06, indicating healthy demand and future revenue potential.
- NCAB Group AB (LTS:0AAQ) continues to pursue an active M&A strategy, with a robust pipeline of potential acquisitions to drive growth.
- Gross margins decreased to 34.7% from 38.1% the previous year, impacted by pricing and higher freight costs.
- EBITDA decreased by 30% year-over-year to 100 million SEK, although it showed sequential improvement.
- The company decided not to pay out a dividend due to market uncertainties, including tariffs and potential economic impacts.
- The Nordic segment experienced weaker order intake, with significant FX effects impacting margins.
- Tariffs continue to pose challenges, particularly for US customers, with potential impacts on demand and pricing.
The NCAB Q1 presentation for 2025. (Operation Instructions)
Now I will hand the conference over to the CEO Peter Kruk, CFO Timothy Benjamin, and head of Investor Relations Gunilla Oman. Please go ahead.
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Good morning and welcome to our Q1 report. My name is Peter Kruk and I'll be starting the presentation today. Again, for the new listeners, NCAB is focused, the company focused solely on printed circuit boards, and these are unique bespoke products that are the heart and foundation in any electronic or intelligent product that we supply, and these are the green boards that you see to the left on this slide.
We are a company present in 19 companies across in 19 companies, serving some 50 markets with a little bit more than 600 employees and serving our customers with the help of some 33 main partner factories. We have no in-house manufacturing, but instead of working with partners and we have out of our 600 employees, we have some 100
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