Q2 2024 Addnode Group AB (publ) Earnings Call Transcript
Key Points
- Net sales increased by 29%, with 11% being currency-adjusted organic growth.
- EBITDA increased by 47% to SEK162 million, and earnings per share improved by 64%.
- Strong cash flow from operating activities, increasing to SEK178 million compared to a SEK127 million loss in Q2 last year.
- Successful acquisitions, including Team D3, which contributed positively to net sales and earnings.
- Recurring revenue forms a stable foundation, accounting for 72% of net sales.
- Economic uncertainties are causing customers to postpone major investments in new products.
- Sales were slightly weaker in Germany, UK, and US due to a decline in license sales, particularly in the automotive industry.
- Organic growth in the Product Lifecycle Management (PLM) division was negative at -2%.
- Municipalities and public authorities show continued restraint in terms of investment in major projects.
- The new transaction model's impact on net sales will be minimal in Q2, with significant effects expected only in Q3 and Q4.
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Hello, everyone, and welcome to the presentation of the Addnode Group Q2 report for 2024. I am the CEO of Addnode Group. You want to understand that with me, I am our CFO Kristina Elfström Mackintosh. And I know it's a busy day for most of you and a lot of reporting companies. But so thank you for taking this opportunity to listening to this as well.
So for today, I will follow the agenda. We'll dive into Q2 and a little bit above what we believe the investment cases. And then we'll open up for questions and then you'll find some supporting material in there makes us well. So looking at Q2 2024, we believe that it was a quarter with growth and robust earnings improvement.
It was strong quarter for the group. We had organic and acquired growth and the robust improvement in earnings. Net sales increased by 29%, 11% was currency adjusted organic growth. EBITDA increased with for December 47% to SEK162 million and
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