Q3 2020 Scandi Standard AB (publ) Earnings Call Transcript
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Good morning, everybody, and welcome to the Scandi Standard Q3 report. Leif Hansen speaking. It's a quarter where we report a record margin, EBITDA margin of 8.8%.
Going on to Page 3. A quarter with solid growth and strong operating performance. We delivered a 3% growth in net sales which corresponds to 7% in local currency. It represents 5.6% of adjusted EBIT margin, which is at a record level. It's a quarter where we delivered a very strong cash flow. And all in all, showed a business that is resilient to the COVID-19 effects.
As you can see, there is some non-comp reporting in this quarter, and that gives me an opportunity to talk about where it comes from, which is the integration -- very successful integration of Manor Farm, if you go on to Page 4. And this very strong performance have resulted in some increased earn-out provision. Just to remind you, it was Manor Farm we acquired in August of 2017. It's, by far, the largest chicken operator in the Republic of Ireland with
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