Kendrion NV (XAMS:KENDR)

Q3 2024 Kendrion NV Earnings Call Transcript

Nov 12, 2024 / 10:00 AM GMT

Release Date Price: €11.34 (+2.35%)

Transcript

Key Points

Positve

Kendrion NV (FRA:K3E) has strategically shifted focus to industrial sectors, which is expected to fuel sustained profitable growth.
The company reported a slight improvement in both revenue and profitability for its continuing operations in Q3 2024 compared to Q3 2023.
The sale of the automotive franchise has significantly strengthened Kendrion NV's balance sheet, reducing total net debt from EUR 160.2 million to EUR 101.1 million.
The Industrial Brakes group experienced a 7% year-over-year revenue growth, primarily driven by the Chinese market.
Kendrion NV expects to achieve financial targets announced at their capital markets day, including an EBITDA margin of 15-18% from 2025 and a return on invested capital of 23-27% by 2027.

Negative

The added value margin declined by 90 basis points due to a changed sales mix, impacting profitability.
Industrial actuators and controls revenue decreased by 6% year-over-year, affected by a downturn in the general machine building market.
The discontinued operations posted a net loss of EUR 9.0 million in Q3, with EUR 7.4 million related to the automotive transaction.
The company is undergoing a significant reduction in workforce, with a planned decrease of about 70 FTEs by the end of Q4 2024.
Economic conditions remain challenging, with weak trading in Europe, particularly in Germany, and subdued activity in China, impacting growth prospects.

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

SVEL.AS - Kendrion NV
Q3 2024 Kendrion NV Earnings Call
Nov 12, 2024 / 10:00AM GMT

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Presentation
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Unidentified_1 [1]
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Good morning, everybody. Welcome to Kendrion's Q3 2024 results Teleconference. My name is Yu Van Burden Kendrion's CEO and with me on the call is Jerun Hemen. Our CFO I will start the meeting with some remarks regarding our Q3 results. After which we will have time for Q&A, we will post a recording of this call and of the Q&A on Kendrion's website. As soon as is practicable, I would like to draw your attention to the fact that certain statements contained in my remarks and in the answers to your questions constitute forward-looking statements.

These forward-looking statements rely on several assumptions concerning future events and are subject to uncertainties and other factors. Many of which are outside the company's control that

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