Q2 2025 Indutrade AB Earnings Call Transcript
Key Points
- Indutrade AB (IDDWF) reported a stable order intake, with half of the companies experiencing organic growth, particularly in the energy sector.
- The company completed four acquisitions in 2025, contributing positively to the overall performance and maintaining a strong acquisition pipeline.
- The EBITA margin improved sequentially from 13.3% in Q1 to 13.7% in Q2, indicating effective cost management.
- The gross margin remained stable and high at 35.3%, reflecting consistent profitability.
- Indutrade AB (IDDWF) maintained a strong financial position with a net debt/EBITDA ratio of 1.5 times, down from 1.7 times last year, providing a solid foundation for future growth.
- Net sales decreased by 4% both in total and organically, primarily due to currency headwinds and a lower order backlog.
- The EBITA decreased by 11% compared to the previous year, driven by a 4% organic sales decline.
- Sales in key markets such as Denmark, Finland, and Norway were down year-over-year, impacting overall performance.
- The company faced challenges in the Infrastructure and Construction, General Engineering, and Process industry sectors, with weaker demand reported.
- Operational cash flow was down during the quarter due to less favorable working capital movements and lower results.
Welcome to the Indutrade Q2 presentation for 2025. (Operator Instructions) Now I will hand the conference over to CEO, Bo Annvik; and CFO, Patrik Johnson. Please go ahead.
Welcome and good morning on our behalf as well. As usual, let's begin with the overall highlights.
Starting with the demand situation, the order intake was stable, organically unchanged from last year, despite fewer working days and the uncertain market situation. So, underlying, it was stronger than last year.
Around half of the companies had organic order intake growth with good demand from customers within the energy sector. Demand within Medical technology and Pharmaceuticals was aggregated on a high and stable level.
Net sales decreased 4% in total, organically also minus 4%, and I will soon comment more on this. The EBITA margin came in at 13.7%. We continued to reduce inventory during the quarter.
Four acquisitions completed so far in 2025. We have prolonged some of
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