Desenio Group AB (publ) (DSNO) Q4 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

So welcome everybody to the senior group's Q4 results presentation conference call. So with me today, I have our CFO, Johan Roslund. Johan is, as you probably know, our new CFO since mid-January this year. So we will today start with presenting the outcome of the quarter and then continue with presenting the development in regards to the bondholders and finish with the Q&A session. The development in the quarter continued to be weak in the markets, but better for the Nordics where sales increased moderately. In total, net sales decreased by 8.6% to 268.8 million SEK compared to the corresponding quarter last year. In the Nordics, where our brand recognition is higher, sales increased slightly in relation to the corresponding quarter last year. while sales in our other markets, including North America, decreased. The market sentiment remains rather weak, but we continue our focused efforts to reach out to customer groups that gradually become more efficient in our marketing efforts. During the quarter, we continued to work on successfully increasing our efficiency. So adjusted to beta increased by 43% to 54 million SEC, which I think is a great effort considering the negative growth in net sales. This means that the adjusted EBITDA margin almost doubled compared to the corresponding period last year to just about 20%. And this improvement is partly explained by a favorable product mix that led to a three percentage points increase of the gross margin to 87% and partly by lower cost ratio for fulfillment and marketing as share on net sales. Operating cash flow improved significantly in the quarter from just below 30 million in Q4 2023 to just above 48 million in Q4 2024. We had a net inventory increase and we also had some changes in current receivables and liabilities...