Q1 2025 Borgestad ASA Earnings Call Transcript
Key Points
- The order book for Hossa looks healthy for the second quarter and the rest of the year, indicating positive future prospects.
- Agorobium reported higher revenue and EBITDA compared to the same quarter last year, showing strong performance.
- Borgestad ASA has a strong balance sheet with sustainable debt levels and a good cash situation.
- Occupancy at Agorobium stands at 95.8% with expectations to increase to 97-98% based on ongoing negotiations.
- Borgestad ASA is optimistic about the remainder of the year, with good prospects for increased revenue and EBITDA.
- The first quarter was weaker than last year due to lower activity within Hers Boogista and low season impacts.
- Revenue dropped by 8.8% in the first quarter compared to the same quarter last year, ending at 186 million NOK.
- The company recorded an adjusted EBIT of negative 11.5 million NOK, significantly behind last year's performance.
- Net financials were negatively affected due to increased costs in the first quarter of 2025.
- A local citizen's complaint has delayed the completion of a sale leaseback agreement in Sweden, with a court ruling against the transaction.
On behalf of Arctic Securities, I welcome Borgesta to this Q1 presentation.
With us from the company, we have CEO Paul Van Lawen, and we also have head of M&A, Bendy Pier Andersen.
If you have any questions, please feel free to write them in the chat.
Thank you very much, and I'll give the word to Paul and Bendick.
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Thank you very much and thank you for the invitation. Let's go to some highlights. Brisa released the first quarter this morning, and for sure it's a weaker quarter, than last year due to lower activity within Hers Boogista, in low season.
Bendik will elaborate more later, but Hossa has a slower start of the year, mainly within the service and installation business in the Swedish market.
When we look at the order book for a 2nd quarter and the rest of the year for Hossa, it looks healthy and the prospects look good. Boa do not foresee a general slowdown at the refractory, for the refractory market in the
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