Asetek A/S (0QDT) Q3 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and welcome to the ACETEC third quarter 2024 earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. For those on the webcast, please submit your questions online. For those on the phones, to join the queue and ask a question, simply press star followed by the number one on your telephone keypad. To withdraw your question, press the star one again. For operator assistance throughout the call, please press star zero. And finally, I would like to advise all participants that this call is being recorded. Thank you. I'd now like to welcome Peter Madsen, CFO to begin the conference. Peter, over to you. Thanks, Paulie. Welcome all to this ACSEC Q3 2024 earnings call. It is the 7th of November today. Our board, they met last night and confirmed this morning their resolution to approve this earnings update that we sent out earlier today. I'm Peter Madsen. I'm the CFO. I'm in the room here with André Slot Eriksen, who's our CEO. Good morning. Good morning. And with that, I think we should get started. You heard the instructions from the operator on how to submit your questions. i think we're all good to go we skip over the disclaimer and then we go to the financial highlight slide thanks um so jumping right into it um the sim sports business is uh essentially growing as we have hoped for and as we have planned for this year liquid cooling revenue remains impacted by the yeah the rapidly changed market dynamics that we have seen this year Our Q3 gross margins came in lower than normal, mainly due to a one-off supply chain quality issue. Our net income for the quarter is impacted by a non-cash write-down and I would say an unexpected US tax cost. As you have probably se...