Desenio Group AB (OSTO:DSNO)

Q3 2024 Desenio Group AB (publ) Earnings Call Transcript

Nov 28, 2024 / 08:00 AM GMT

Release Date Price: kr0.3 (+11.94%)

Transcript

Key Points

Positve

Desenio Group AB (OSTO:DSNO) achieved an increase in operational efficiency, leading to improved profitability despite a decline in sales.
The company's adjusted EBITA margin increased to 12.1% in Q3 2024, up from 11% in Q3 2023, due to improved efficiency in fulfillment and administration costs.
Gross margin improved from 83.3% in Q3 2023 to 85.2% in Q3 2024, driven by a favorable product mix.
Desenio Group AB maintained a steady share of voice in key markets, increasing its presence in the US and Germany.
The company reported a positive operating cash flow of 2.3 million SEK during the quarter, despite lower sales and inventory buildup for the high season.

Negative

Net sales decreased by 15.6% in Q3 2024 compared to the same period last year, reflecting a challenging market environment.
Sales in the Nordics decreased by 4%, core Europe by 19%, the rest of Europe by 25%, and the rest of the world by 13%, indicating widespread sales challenges.
Marketing costs remained high, with the cost in relation to net sales unchanged from the previous year, impacting overall profitability.
The company is facing ongoing challenges with refinancing its issued bonds, which has led to delays in reporting.
Desenio Group AB's net interest payments on outstanding bonds amounted to 24.8 million SEK, contributing to financial pressure.

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

DSNO.ST - Desenio Group AB (publ)
Q3 2024 Desenio Group AB (publ) Earnings Call
Nov 28, 2024 / 08:00AM GMT

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Presentation
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Unidentified_1 [1]
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Thank you very much. Welcome everybody to the Center group's Q3 results presentation conference call with me today. I have our Co Anna Toa.

As you may have noticed, we have postponed this report two times.

The reason is our ongoing constructive discussions with the city group's bondholders to find a solution for the refinancing of our issued bonds.

We believe the solution will include reduced net depth and the depth maturity is expected to be extended. But we have to wait for the outcome of our discussions. This outcome will be announced in a separate press release now to the Q3 report.

So as usual, we'll start with presenting the outcome of the quarter and the Q&A session will follow

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