Dustin Group AB (publ) (DUST) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Dustin Q3 presentation for 2024-2025. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the CEO Johan Carlsen and CFO Julia Lagerquist. Please go ahead. Good morning, everyone, and warm welcome to this Q3 presentation from Dustin Group. As previously said, Julia and I will try to take you through the main messages of the report. We move to the content of today. We will go through the Q3 result. We will also follow up on the rights issue and talk about our strategic focus and the way forward. But if we look at slide three and the Q3 result, As in the 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. Sales in the quarter was $5.89 billion, representing an organic growth of negative 2.9%. Both segments performed at the same level, and SMB had an organic growth of negative 2.6%, while LCP was down by 3.0%. In SMB, we saw some stabilization of the market and the negative market development was slowing down while margins in SMB continued to be at good levels. In LCP, we had challenges due to lower market volumes in the Netherlands while the Nordics performed well. Gross profit ended at 680 million compared to last year's 821 million, mainly as a result of lower gross margin. Gross margin was at 13.4% compared to last year's 15.0%. Rosemarine was mainly affected by the lower margins in the Benelux region. More about that in the next slide. Adjusted EBITDA came in at $72 million compared to last year's $130 million, and EBITDA margin was at 1.4% compared to last year's 2.4%. Cash flow from...