Q1 2025 Indutrade AB Earnings Call Transcript
Key Points
- Indutrade AB (IDDWF) reported a 5% organic growth in order intake despite market uncertainties.
- Net sales increased by 4%, driven entirely by acquisitions, with a record Q1 operational cash flow of SEK644 million.
- The company completed three acquisitions in 2025, with a positive outlook for further acquisitions.
- The gross margin reached a record high of 35.4% for Q1, indicating strong management of direct material and labor costs.
- The net debt-to-EBITDA ratio was at a historically low level of 1.3, reflecting a strong financial position.
- Organic sales growth was flat, with some business areas experiencing declining sales due to a weaker business climate.
- The EBITA margin was slightly lower at 13.3% when excluding one-off items, indicating pressure on profitability.
- Higher expense levels were noted, partly due to increased activity and inflation, impacting margins negatively.
- The Process, Energy & Water business area saw a decline in EBITA margin due to organic sales decline and higher expenses.
- Sales in North America were down, attributed to difficult comparisons with larger projects from the previous year.
The Indurade Q1 presentation for 2025. (Operator Instructions) Now I will hand the conference over to CEO Bo Anvik and CFO Patrik Johnson. Please go ahead.
Welcome, and good morning on our behalf as well. As usual, let's start with the overall highlights. In terms of order intake, we had a total growth of 5% organically, an increase of 1% despite the uncertain market situation. Good demand from customers within pharmaceutical production, the Process Industry more broadly, and also the Energy Sector. And the majority of companies had organic order intake growth.
Net sales increased 4% in total. Organically, it was unchanged. The EBITA margin came in at 13.6%, excluding some one-offs, 13.3%, and continued improvement in working capital efficiency and record Q1 operational cash flow of SEK644 million and three acquisitions completed so far in 2025 and the pipeline remains good. If we then turn to order intake and sales. As mentioned on the previous slide, demand was good with
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