eEducation Albert AB (publ) (ALBERT) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi and welcome to Albert's second quarter report 2025. With us to present we have CEO Fredrik Bengtsson and CFO Erik Berglin. If you have any questions for the company you can fill them in the form to the right and with that I give the word to you Fredrik. Good morning and thank you for joining. With me today is our CFO Erik Berglin and together we will walk you through the Albert Group's second quarter and first six months. Today's agenda is the actions from the second quarter. Moving on to a brief review on our fundamental business, which is our brands, our customers, and the value Albert Group adds in this segment. Erik will then go through the financials from our report, and we will summarize what we're doing right now, and then we'll open up for questions. This has been my first quarter as CEO of Albert Group and a quarter of decisive action from both our board and from our management. I was brought into the group by the board in late April with a mandate to assess all aspects of the business, to propose an effective change towards profitable growth and to execute on this plan. And that is what we have done. In May, Erik Bergerlin was announced as our new CFO of Albert's group. I recruited Erik internally, which is a sign of the strength we have within our group. Recruiting Erik was the first shift towards a leaner organization with reinforced attention to financial control and efficiency. After a thorough review, we moved quickly to protect our path to profitability. We launched a 25 million krona annual cost savings program. We streamlined the organization from 103 to 75 people with most reductions affecting central functions, middle management, overlapping roles in product teams across the Swedish and UK operations. And we maintained our marketing and sales c...