Q3 2024 Trifork Group AG Earnings Call Transcript
Key Points
- Trifork Group AG (OCSE:TRIFOR) has successfully onboarded new customers, compensating for the revenue lost from long-term clients earlier in the year.
- The company has seen significant growth in the US market, with a 56% increase in Q3 compared to the previous year.
- Trifork's public sector business in Denmark grew by 15% in Q3, indicating a positive turnaround from previous quarters.
- The company's Labs segment has shown strong performance, with top lab companies exceeding budget expectations and contributing positively to overall results.
- Trifork has made strategic investments in IP and platforms, which are expected to provide a solid foundation for future growth and innovation.
- Trifork Group AG (OCSE:TRIFOR) anticipates ending the year with revenue similar to 2023, which is disappointing given previous growth expectations.
- The company's EBITDA is expected to be EUR10 million less than in 2023, reflecting challenges in maintaining growth.
- Major cost savings initiatives are necessary, including a reduction in management salaries and bonuses, to address financial shortfalls.
- The Build segment, a significant part of Trifork's business, experienced a notable decline in margins, impacting overall profitability.
- There has been an increase in sick leave and employee churn, which could affect operational efficiency and morale.
Hi, everyone. We will start the webcast shortly. We are just waiting for the last attendees and we will just give it 20 more seconds.
Okay. Welcome, everyone, to the presentation of Trifork's Third Quarter Results for 2024. My name is Frederik Svanholm, and I'm the Investment Director at Trifork. Today, our CEO, Joern Larsen; and our CFO, Kristian Wulf-Andersen will be providing a presentation of approximately 35 minutes, followed by Q&A.
Before we start, a couple of practical information. First, I would like to inform you that this presentation is recorded. It will be made available in its full length on our Investor webpage later today. Second, I would like to inform you that if you want to download the presentation for today's call, you'll be able to find it on the front page of our Investor website. Third, we invite you to ask questions and engage with management after the presentation. (Event Instructions) Before we get started, we have to present this disclaimer.
Okay. Let's
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