Q3 2025 NCAB Group AB (publ) Earnings Call Transcript
Key Points
- NCAB Group AB (FRA:XB1) reported a strong order intake growth of 21% in US dollars, with 40% organic growth, indicating a robust demand for their products.
- The company experienced positive development across several sectors, including aerospace, defense, medical, and energy, contributing to overall growth.
- North America showed the strongest growth, supported by new product introductions and a decrease in reliance on Chinese sourcing.
- The company maintained a positive book-to-bill ratio of 1.04, suggesting a healthy demand pipeline.
- NCAB Group AB (FRA:XB1) has a strong cash flow and improved working capital, which supports their M&A strategy and future growth plans.
- EBITDA decreased by 7% compared to the previous year, impacted by a significant FX effect of SEK 150 million.
- The gross margin declined compared to the previous year, although it showed sequential improvement.
- The UK market remains challenged, partly due to exposure to the slowing truck industry.
- The company's IT platform rollout is costly and time-consuming, with ongoing expenses expected through 2026.
- The economic environment remains uncertain, with potential risks from geopolitical tensions and tariff changes.
Welcome to the NCAB Q3 presentation for 2025. (Operator instructions).
Now I will hand the conference over to the CEO Peter Crook, CFO Timothy Benjamin, and head of Investor Relations Gunilla Oman. Please go ahead.
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Good morning, everyone and welcome to today's Q3 report. So presenting will be primarily myself and my colleague Timothy Benjamin and also Gunilla will be supporting us.
NCAB, for those who are new, we are focused on printed circuit boards, the bear boards that you see to the left in this picture, and that basically is the foundation in any electronic intelligent product. And what is a little bit particular about our industry is that while semiconductor components are standard components, the printed circuit boards are unique designs for every single product, so it's a highly engineered product where we work closely with our customers in defining the designs.
We are a company we're believing in strong
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