Q2 2025 H+H International A/S Earnings Call Transcript
Key Points
- Strong performance in Poland with significant EBIT contributions and attractive margins.
- Positive market conditions and demand in the UK, with plants operating 24/7 to meet demand.
- The UK market benefits from a favorable environment with government support and reduced interest rates.
- Excluding Germany, the group operates at a healthy EBIT margin of 10% to 12%, close to long-term financial targets.
- Strategic restructuring in Germany aims to improve profitability by focusing on regional profit centers.
- The German market faces low volume and building activity, impacting group earnings and leading to a revised outlook.
- Competitive pressures in Germany have resulted in price reductions, affecting margins.
- Cash flow from operating activities was negative, with a significant increase in net interest-bearing debt.
- Restructuring in Germany involves significant costs, with special items expected to impact financials in the short term.
- Impairments in Germany, including goodwill write-offs, reflect ongoing challenges and lack of near-term recovery.
Welcome to H&H International AS H12025 financial results.
For the first part of this call, all participants will be in a listen-only mode and afterwards there will be a question and answer session. To ask a question, please press star five on your telephone keypad. I'll now hand it over to your speakers. Please begin. (Operator Instruction)
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Good morning, and welcome to H+H conference call covering the first half of '2025. My name is Nicholas. I'm the head of investor relations and treasury.
Joining me this morning is our CEO Jorg Brinkmann and our CFO of Bjarne Pedersen.
Yesterday evening, the half year report and related documents including the presentation for this call was put on our best relations website.
During today's call, management will present the H1 financial report, after which there will be a Q&A session. The call is scheduled to last a maximum of one hour.
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