Q2 2026 Investment AB Latour Earnings Call Transcript
Key Points
- Order intake grew organically by 13%, with a record-high order backlog of over 8 billion SEK, providing a solid foundation for future revenue growth.
- Completed five acquisitions in the quarter, adding 700 million SEK in annualized net sales and enhancing market positions across several wholly owned operations.
- Adjusted operating profit reached 999 million SEK with a margin of 13.8%, reflecting good cost control and efficiency improvements.
- Net debt decreased significantly from 15.3 billion SEK to 12.3 billion SEK, providing headroom for further acquisitions.
- Nordlock continues to deliver strong performance with 8% organic net sales growth and a robust operating margin of 28%, supported by global expansion and a focus on premium, safety-critical solutions.
- Net asset value decreased by 3.7% during the first half of the year, underperforming the SIX index which rose by 8.1%.
- Political uncertainty and delays in project startups have postponed some deliveries and revenues to upcoming quarters, impacting net sales growth.
- Currency headwinds continue to negatively affect results, though the impact has lessened compared to the beginning of the year.
- Organic net sales growth was only 4%, significantly lower than the 13% order intake growth, indicating a timing gap in revenue recognition.
- Certain business units, such as the hardware division at Hultafors and the metering business at Bemsiq, face challenging market conditions, leading to mixed performance across the group.
Everybody, this is Joanelson and welcome to Report.
I'm here together with our CFO, Milson now so.
So the presentation is divided into two sections.
Firstly, we will walk you through the Latour Group's development in Q2, commenting on the development for the investment portfolio and the wholly owned operations, and then we open up for questions, together with MICA.
And then we have a second part where we will make a deep dive into Nourlock Groups, one of the tour's 7 wholly owned operations.
And there we will invite, Daniel Vesper, CEO of Nordda Group for this section.
And finally, we'll have a Q&A session altogether with Daniel on the nuclear group presentation.
So, if we go to the first slide,
I would say, oncoming overall, solid second quarter performance, supported by positive market developments, especially toward the end of the quarter.
Order intake grew organically by 13%, and let's say by 4%.
Adjusted a little bit amounted to 999 million sec, with a margin of 13.8%. The
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