Q2 2023 Fasadgruppen Group AB (publ) Earnings Call Transcript
Good morning, everyone. Martin here. Warm welcome to our H1 2023 results. With me in the room, I have our CFO, Casper Tamm; and also, our Head of Investor Relations, Adrian Westman. After the presentation, we open up for questions.
So H1 in brief, we ended the period with a record-high order backlog, and we saw a significant cash flow improvement year over year. The net sales came in at roughly 25% increase year over year, of which 9% was organic. The organic growth came down in Q2 compared to Q1, which was mainly due to the falling material prices, but we still saw some volume increase in Q2.
Looking at the results, the adjusted EBITDA increased by 21% year over year, corresponding to a margin of 8.2% for the first half of the year, which is a decrease of some 30 basis points year over year. The cash conversion was pretty good at 86.1% here in the period. And looking on the last 12 months, we had a cash conversion of 98.6%, very close to our target of 100%.
The order backlog came in roughly 13% year over year better. And we saw
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