Q2 2024 Trifork Group AG Earnings Call Transcript
Key Points
- Trifork Group AG (OCSE:TRIFOR) expects a total revenue growth of approximately 5% for 2024, with a revenue target of EUR215 million to EUR220 million.
- The company has secured significant public contracts and framework agreements, which are expected to contribute positively to revenue in 2025 and beyond.
- Trifork Labs segment has shown impressive growth, with several lab companies finding strong market traction.
- The company has expanded its business development capabilities and is actively onboarding tech talent to support future growth.
- Trifork Group AG has formed strategic partnerships with major global technology companies like NVIDIA, SAP, Apple, and Microsoft, enhancing its market presence and potential for new business opportunities.
- The company experienced a decrease in organic revenue by nearly 7% in Q2 2024 compared to the previous year, primarily due to geopolitical tensions affecting customer engagements.
- Trifork Group AG has downgraded its guidance twice this year, indicating challenges in meeting initial expectations.
- The Cyber Protection business segment has been a negative contributor to EBITDA, prompting considerations for divestment or restructuring.
- The company has faced lower utilization rates and increased bench time, impacting profitability.
- There is uncertainty regarding the timing and realization of revenue from new contracts and framework agreements, which may affect short-term financial performance.
Okay, let's start. My name is Frederik Svanholm from Trifork, Investor Relations. Today, we will present our second quarter 2024 results, and CEO, Jorn Larsen; and CFO, Kristian Wulf-Andersen will be providing a presentation of approximately 35 minutes, followed by Q&A. Before we start, a bit of practical information. First, I would like to inform everyone that this presentation is recorded, and it will be made available in its full length on our IR webpage later today.
Second, I would like to inform you that, if you want to download the presentation, you will be able to find it on the front page of our investor website. And third, we invite you to ask questions and engage with management after the presentation.
(Event Instructions) And I'll make sure to give everyone a chance to ask their question within the allocated time. Before we get started, we have to present this disclaimer. Okay, let's jump to the presentation. I now hand it over to Group CEO, Jorn Larsen. Jorn, please go ahead.
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