Asetek A/S (0QDT) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

AS Half Year 2024 Earnings Conference Call. All participants are currently in a listen-only mode. Later, we will conduct a question and answer session. To ask a question, if you are dialed in, please press star, followed by the number one on your telephone keypad. And as a reminder, this conference is being recorded. At this time, I would like to turn the call over to Peter Madsen, CFO. Please go ahead. Thank you. And yes, welcome to this AT Tech earnings call. Our board, they met earlier today and they discussed, obviously, and then approved the first half year 2024 report, which is the basis for the presentation here. As the presenter said, you will be able to ask questions verbally later in the call, but also you can find on your application here, you can find a place where you can actually type in questions that will then address later at the same time as the verbal questions. With that, just saying that my name is Peter Madsen, I'm the CFO. I have here in the room also André Eriksen, who's our CEO. Hi, André. Hello. And he will actually take over the floor right away, starting out with the Q2 2024 highlights. Yes, good afternoon. Diving right into the highlights of the second quarter, the Q2 group gross margin landed at 45%, same as the same quarter last year. We have seen a weaker than anticipated market rebound, and an increased price pressure is also impacting our liquid cooling market at the moment. Simsport business is growing according to plan, and our updated group revenue from 1st of July is still what we stick to. Next slide. There are multiple factors that is impacting us at the moment. In the liquid cooling, we do still expect a decreased revenue in percentage between 35 and 40, which corresponds to between 42 and 44 million dollar revenue for a year....