Q4 2024 Scandi Standard AB (publ) Earnings Call Transcript
Key Points
- Scandi Standard AB (FRA:0SL) reported a 5% growth in net sales for Q4 2024, supported by strong consumer trends.
- The company achieved its strongest fourth quarter in history, despite Q4 being seasonally weak.
- A 9% increase in the proposed dividend to SEK 2.50 per share reflects strong financial performance.
- The acquisition of a Ready-to-eat plant in the Netherlands will increase capacity for frozen breaded products by 90%, providing a solid growth platform.
- The company has achieved an A rating in the CDP for its sustainability efforts, highlighting its commitment to responsible practices.
- Start-up costs for the newly acquired Ready-to-cook platform in Lithuania amounted to SEK 14 million, impacting EBIT.
- The EBIT margin for the Ready-to-cook segment decreased year-on-year, even after adjusting for restructuring costs.
- Higher finance net costs were incurred due to increased debt levels and the expiration of favorable interest rate swaps.
- The company experienced a setback in lost time injury (LTI) measures, indicating challenges in employee safety.
- There is a risk of under-absorption of fixed costs due to the significant capacity expansion in the Netherlands.
Hello, everyone, and welcome to the Scandi Standard Interim Report for the fourth quarter 2024. My name is Kenneth, and I will be coordinating your call today. (Operator Instructions)
I will now hand you over to Jonas Tunestal, the CEO of Scandi Standard to begin. Please go ahead.
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Good morning everyone, and welcome to this presentation for Scandi Standard's result in Q4. My name is Jonas Tunestal, and I'm the CEO and Managing Director of Scandi Standard. By my side, I have Fredrik Sylwan, our CFO, and I'm pleased to have him by my side. And I'm also glad to report a strong quarter and structural growth.
So moving to next slide please. And here we see a 5% growth in net sales and increase in volumes, and that is supported by strong consumer trends. Need to remark that Q4 is always our seasonally weakest quarter.
But we're having a strongest quarter in Q4 in Scandi Standard's history, and that is even if we
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