Brodrene A & O Johansen AS (FRA:XH0)

Half Year 2025 Broedrene A & O Johansen A/S Earnings Call Transcript

Aug 15, 2025 / 11:00 AM GMT

Release Date Price: €11.66 (+0.34%)

Transcript

Key Points

Positve

Brodrene A & O Johansen AS (OCSE:AOJ B) reported a 15% increase in sales growth, with organic growth slightly above 7%.
The B2B business delivered a solid quarter, confirming growth rates observed in the first quarter of 2025.
AO Sweden achieved a 41% growth in the first half of 2025, with new stores in the Stockholm area exceeding sales forecasts.
Gross profit margin increased by 1.2 percentage points, driven by increased margins in both B2B and B2C segments.
Cash flow from operations improved by 173 million compared to Q2 2024, largely due to increased earnings and working capital timings.

Negative

The pressure on margins remains fierce, with a one-sided customer focus on price, especially in project sales.
Basket sizes remained low in Q2 2025, leading to increased logistics costs and a need for more manpower.
The market for heat pumps is stagnant, with sales accounting for less than 5% of total sales.
Increased customer risk due to volatile cash flows and credit insurers cutting lines, raising AO's exposure.
Geopolitical tensions and macroeconomic uncertainties could lead to lower investment appetite and postponed projects, potentially affecting demand and sales.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

AOJb.CO - Broedrene A & O Johansen A/S
Half Year 2025 Broedrene A & O Johansen A/S Earnings Call
Aug 15, 2025 / 11:00AM GMT

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Presentation
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Unidentified_1 [1]
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At this time, I would like to welcome everyone to this for an ANO Q2 and H12025 interim report. Today's call is being recorded. If you have any objections, please disconnect at this time.

All participants will be on list only note throughout the presentation, and afterwards, stop the question and answer session.

I'll now turn the Carlo to CEO Nils A. Johansson. You may now begin.

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Unidentified_2 [2]
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Good afternoon and welcome to our 2nd quarter and 1st half 25 broadcast.

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