Q3 2024 Balco Group AB Earnings Call Transcript
Key Points
- Balco Group AB (OSTO:BALCO) more than doubled its order intake, increasing by 111% compared to the previous year.
- Net sales increased by 31% to 331 million SEK, driven by recent acquisitions.
- The company has developed new innovative solutions, such as glazing that offers up to 30% energy savings, enhancing its position in the Green Transformation market.
- The order backlog increased by 25%, reaching approximately 1.4 billion SEK, indicating strong future business potential.
- The newly acquired Finnish company, Swu Lanes, secured several major projects, contributing positively to the group's performance.
- Despite increased sales, profitability remains below target with an adjusted EBIT margin of 5%.
- The company faces significant price pressure in the facade segment, particularly in Sweden.
- Organic growth was negative, with a decline of 8% in the quarter.
- The interest-bearing net debt increased, with a net debt to adjusted EBITDA ratio rising to 2.8 from 1.1 last year.
- There is a noted trend of longer decision times from clients, which could delay project starts and revenue realization.
Hello and welcome to today's presentation with Balco Group with us presenting today. We have the CEO Camilla Ekdahl and CFO Michael Grindborn. We'll do a Q&A after the presentation. (Operator Instructions) please go ahead with your presentation.
Hello, welcome all to our presentation. First of all, for all new listeners, just a very short snapshot of Balco Group.
Balco Group was founded in 1,987 and consists of several balcony and facade companies. We have the head office in BCW.
We are working in two main segments, renovation and new build. And our core expertise is to supply place balconies and balcony solutions primarily for the renovation market and the tenant and associations.
We are the market leader on the in the boundary business in the Nordics, but we also have a strong challenger position on other European markets and over to the highlights for quarter three, we actually more than doubled our order intake. The order intake increased
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