Simon Johnson
Analyst, ABG
Replay available
Coor Service Management Holding AB (COOR) Q2 2025 Earnings Call
Coor Service Management Holding AB (STO: COOR) Q2 2025 earnings conference call, held 2025-07-14. Replay captured from the company's public earnings webcast.
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Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:04.698 Our long-term efforts to improve the management and governance of the operations are 00:00:04.698 -- 00:00:09.666 continuing. There is a focus on strengthening leadership skills and creating a clear 00:00:09.666 -- 00:00:13.692 division of responsibilities within the operations. 00:00:13.692 -- 00:00:18.739 And after summer here, Peter Hasbach will take over as CEO of the Danish operations and 00:00:18.739 -- 00:00:23.483 will be a valuable addition to this ongoing work. 00:00:24.820 -- 00:00:30.608 In Norway, we see organic growth of 23%, and that comes from unusually 00:00:30.608 -- 00:00:35.535 high variable volumes related to maintenance stops in the energy sector. 00:00:35.535 -- 00:00:40.621 While maintenance stops occur annually, the scope and timing in the year varies from 00:00:40.621 -- 00:00:45.909 year to year. Around half of the organic growth we see in this quarter comes from above 00:00:45.909 -- 00:00:48.125 normal levels. 00:00:48.125 -- 00:00:54.833 Adjusted EBITDA for the quarter amounted to 37 million and margin was 5.4%. 00:00:54.833 -- 00:00:58.957 The strong improvement compared to both previous quarter and last year is driven by the 00:00:58.957 -- 00:01:01.618 high variable volumes. 00:01:03.102 -- 00:01:08.588 And last among the countries, Finland. Organic growth of negative 1% in the quarter 00:01:08.588 -- 00:01:11.772 from a couple of smaller contracts that was ended. 00:01:11.772 -- 00:01:16.075 Adjusted EBITDA and margins are in line with last year. 00:01:18.922 -- 00:01:24.053 Moving on to cash flow and balance sheet. During last year, we saw an increase 00:01:24.053 -- 00:01:29.124 of working capital as a result of changes in the contract portfolio. 00:01:29.124 -- 00:01:34.214 We also had year-end ...