Dustin Group AB (publ) (DUST) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and warm welcome to this Q2 presentation from Dustin Group. As you heard, Julia and I are here to present the result to you. I think we can have a look at slide two and what we will go through today. We will, of course, go through the Q2 result, but we will also talk a little bit about our strategic focus and the way forward, as well as the announced rights issue. So if we then move on to slide three to the Q2 result. As in last quarters, sales was affected by a weak market with continued general cautiousness by the customers in many of our customer groups. However, we saw some positive developments in both LCP and SMB. Sales in the quarter was 5 billion, 408 million, or 4.5% above last year. In SMB, organic growth was negative 2.6, while LCP was up by 6.4%. In LCP, we were recovering some of the delayed volumes from Q1 as a result of the IT platform implementation, but we also won new contracts. In SMB, we saw some stabilization of the market and the negative market development was slowing down. Gross profit ended at 762 million compared to last year's 856 as a result of lower gross margins. Gross margin was 13.9% compared to last year's 16.3. We will talk a little bit more about that in the next slide. Adjusted EBITDA came in at 110 million compared to last year's 201. Items affecting comparability for the quarter was 55 million and was totally referring to the efficiency program that we have implemented during the quarter. We have also made a non-cash impairment of primarily goodwill of 2.5 billion. And we'll talk a little bit more about that later in the presentation. EBIT ended at negative 2 billion, 503 million, mainly as a result of the impairment effect. cash flow from operating activities was 180 million positive compared to last year...