Q3 2024 Olvi Oyj Earnings Call Transcript
Key Points
- Olvi Oyj (STU:OVI) has successfully retained its market share across various categories and markets, despite a competitive environment.
- The company has improved its profitability significantly, with adjusted EBIT growing by almost 22% and EBIT by 53% compared to the previous period.
- Operational efficiency improvements have been a major driver of profitability, alongside stabilized raw and packaging material prices.
- Olvi Oyj (STU:OVI) has successfully launched new products, recognized as the most successful in their respective countries.
- The company has benefited from favorable weather conditions, which have helped offset some consumer demand softness.
- Despite improvements, Olvi Oyj (STU:OVI) has not yet returned to pre-COVID profitability levels.
- The company's volumes did not grow over the nine-month period, indicating challenges in expanding market reach.
- Inflation on packaging and raw materials remains historically high, posing ongoing cost challenges.
- The Baltic region faces intensified price competition, impacting volume growth and necessitating strategic adjustments.
- In Belarus, Olvi Oyj (STU:OVI) faces uncertainties due to currency fluctuations and a challenging operating environment.
Welcome, welcome to the Q3 interim report. Before we start a few usual disclaimers and then the important introductions. So Tiina-Liisa Liukkonen our CFO and myself Patrik Lundell, very happy to host you this this afternoon or noon here in Finland to share how we've been progressing this year.
We thought indeed to start while looking at a few of the highlights for the first nine months of this year.
And as you know, many of you may recall, we've started activating our new strategy. This is the 1st year of our new strategy where we have a particular focus in 2024 on our people.
We've also ensured that we can elevate our data usage and improve on our processes and pay particular attention on, on reinstalling our profits towards the levels pre COVID.
We're very pleased with our progress and importantly our ability to retain market shares.
We've been able to grow in many categories and markets in a very, very competitive marketplace.
While at the same time improving our profitability and this speaks volumes about the
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