Q1 2025 Bergman & Beving AB Earnings Call Transcript
Key Points
- Bergman & Beving AB (FRA:BLRB) reported a 9% increase in EBITA, marking 22 consecutive quarters of improved profits.
- The company achieved a 5% increase in turnover, driven by acquisitions and selective growth in some subsidiaries.
- Four acquisitions were completed in the fiscal year, contributing SEK300 million in annual sales, aligning with the company's acquisition strategy.
- The EBITA margin improved to 9.9% from 9.5% in the previous year, indicating enhanced profitability.
- Earnings per share increased to SEK8.3 from SEK7.4, reflecting improved financial performance.
- Organic turnover experienced a slight decline, reflecting challenging market conditions.
- The divestment of Skydda Nordic operations will result in a loss of SEK45 million in annual earnings.
- The company faces sluggish market conditions in both the construction and industrial sectors, with no immediate signs of recovery.
- Inventory levels remain a challenge, with some companies needing to address high stock levels.
- The net debt increased to SEK1.4 billion, primarily driven by acquisitions, raising concerns about leverage.
Good morning, everyone. This is Magnus Soderlind, and welcome to our financial report for the first quarter presentation here. And together with me on this call, I also have our CFO, Peter Schon. We will, as always, have a Q&A in the end session. And you also have the opportunity to put some questions live here that we will take care of them after we have made this presentation.
So I will then start with some highlights. So the first quarter, we increased earnings, EBITA. We increased profitability that we measure as profitable working capital. And adjusted, we also increased earnings per share. So overall, I think we did a good quarter despite still tough underlying market conditions. So we increased the turnover by 5%, and this is driven by acquisition and selective -- some of our companies also have had an increase in turnover. But on an aggregated level, organically, we had a small decline actually in the quarter, and this is reflecting the market conditions, I would say.
So despite this, we
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