Q2 2025 Addnode Group AB (publ) Earnings Call Transcript
Key Points
- Addnode Group AB (STU:AR7) reported a significant improvement in EBITA, increasing to SEK238 million from SEK162 million the previous year, with the EBITA margin rising to 16% from 8%.
- The Design Management division saw a strong improvement in EBITDA, increasing by 99% to SEK171 million, with a margin increase to 25.6% from 7.1% last year.
- The company completed three new acquisitions, including Genus in Norway and two asset deals in the US, which are expected to strengthen their market position.
- The Process Management division delivered strong growth, with net sales increasing by 5% and EBITDA by 10%, marking the fourth consecutive quarter of improved EBITDA margins.
- Addnode Group AB (STU:AR7) maintains a resilient balance sheet, with a cash position of approximately SEK730 million and a significant portion of its revolving credit facilities remaining unutilized.
- The German market remains challenging, impacting the Product Lifecycle Management (PLM) division, which saw a decrease in EBITDA to SEK33 million and a narrowed EBITDA margin of 7.4%.
- A stronger SEK had a negative foreign exchange impact of approximately SEK17 million on EBITDA for the quarter.
- Cash flow from operating activities decreased significantly to SEK33 million from SEK178 million the previous year, mainly due to changes in working capital related to the Design Management division.
- The transition to Autodesk's new transaction model and reclassification of third-party agreements negatively impacted reported net sales figures.
- The economic and geopolitical situation remains uncertain, affecting customers' decision-making processes for major investments, particularly in the German market.
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Hello, everyone, and welcome. I'm the CEO of Addnode Group, Johan Andersson. And with me, I also have Kristina Elfstrom Mackintosh, the CFO of Addnode Group. Together, we will introduce you to our interim report for Q2, and we will also end with a Q&A. For those of you who are new to Addnode Group, I would like to inform you that our reporting currency is Swedish krona.
You can see the agenda for today. And before we start with the interim report, I would like to remind us all what Addnode Group is all about. Our purpose is all about digitalization for a better society. Through innovation and continuous development in close collaboration with our customers, we create digital solutions for specific needs. The software and digital solution that we provide helps to design buildings, infrastructure and cities and also the products that we all use every day like cars and all the way to life science instruments.
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