Q1 2025 Olvi Oyj Earnings Call Transcript
Key Points
- Olvi Oyj (STU:OVI) was recognized by Time Magazine as one of the world's best companies for leading sustainable growth.
- The company introduced 90 new products to the market during Q1, showcasing innovation and expansion in their product portfolio.
- Despite weak demand, Olvi Oyj (STU:OVI) maintained or grew market share in certain categories, particularly in non-alcoholic beverages and the Holika Channel.
- The high-bay warehouse in Finland is operational, with 8,000 pallets of products in storage, ensuring readiness for the summer season.
- Profitability in Finland improved by almost 20% due to enhanced production efficiency and higher average sales prices.
- Q1 volumes decreased by 5.7% in Finland, impacted by a strike and the timing of Easter.
- The Baltic region faced weak consumer purchasing power and intensified price competition, affecting demand.
- Denmark experienced a significant decline in volumes and profits due to portfolio changes and increased costs for summer preparations.
- The geopolitical situation in Belarus remains volatile, with restrictions on dividend distribution and no permit to sell shares.
- The effective tax rate increased to 25%, reflecting a more realistic level compared to the previous year's exceptionally low rate.
Welcome to our Q1 interim reports. Before we get going, I want to share the usual one pager with some disclaimers. We'll be making some references to the future and as we can all understand the future always comes with certain levels of uncertainty.
You have your usual hosts Tiina-Lisa Liukkonen and myself, Patrick here with you today.
The first quarter of the year is always a busy period. It's a period of preparing for summer, but also a period when we compiled the results of the previous year and share this with the market. I bring this up because last week, we hosted our AGM in Iisalmi.
And there was a particular note that I wanted to make as it pertains to our annual report and that's the sustainability statement. We have published this now for the first time and it's of course in compliance with the new directive. I invite you all to visit it and have a read. It's a good read, a comprehensive read. And it's quite an important piece of documentation.
I also wanted to
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