QleanAir AB (OSTO:QAIR)

Q3 2024 Qleanair AB Earnings Call Transcript

Nov 8, 2024 / 09:00 AM GMT

Release Date Price: kr19.5 (-15.22%)

Transcript

Key Points

Positve

QleanAir AB (FRA:9ZJ) launched six new products targeting EMEA and APAC, which are expected to support sales in challenging market conditions.
The company reported satisfactory growth in the APAC region, with air cleaner sales in Japan up by 41% for the year.
Recurring revenues remain stable at 73 million SEK, amounting to 301 million SEK on a rolling 12-month basis.
QleanAir AB (FRA:9ZJ) has a strong base of recurring revenues, serving over 3,500 customers globally, which provides a predictable revenue stream.
The company is focusing on cost control, sales efficiency, and customer focus, with cost improvement projects delivering to plan.

Negative

QleanAir AB (FRA:9ZJ) experienced a decline in sales, with Q3 sales down 8.9% compared to last year, primarily due to lower sales in EMEA and Americas.
The gross margin decreased from 67% to 62%, impacted by lower sales and FX effects.
Cash flow was weak due to a decline in operating profit and changes in working capital.
The company faced challenges in the Americas with postponed projects and longer sales cycles, affecting efficiency.
QleanAir AB (FRA:9ZJ) had to make a one-time write-off of inventories related to COVID-19 purchases, amounting to 7 million SEK.

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

QAIR.ST - Qleanair AB
Q3 2024 Qleanair AB Earnings Call
Nov 08, 2024 / 09:00AM GMT

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Presentation
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Unidentified_1 [1]
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Welcome to the Clean Air Investor presentation for Q3 2024. My name is Sebastian Lindstrom. I'm the CEO of Clean Air and joining me in today's call is Henrikas Mike, our CFO at Clean Air Henri and I will go through the presentation and then open up for Q&A towards the end.

Starting off with the numbers for Q3, we closed a challenging quarter. Clear indications of a weaker economy in the Mia, especially Germany, which is our biggest market in the MIA and beyond our control postponement of a big project in Americas with Curo positive in the quarter was the stable performance of Japan in local currency and the launch of six new products targeting Emeia and AC in the quarter. We also had to deal with handling the final accounting adjustments

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