Enea AB (publ) (ENEA) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Enea Q2 presentation 2025. During the questions and answer session, participants are able to ask questions by dialing pound key five on their telephone keypad. Now I will hand the conference over to the CEO Teemu Salmi and CFO Ulf Stigberg. Please go ahead. Good morning, everyone. This is Teemu Salmi speaking and welcome to this interim report for Q2 for Enea in 2025. We have an agenda for today where we'll go through a bit of our numbers for the quarter and some market developments before we'll dive straight into the financial results. And we will end up with a way forward, our guidance and of course also questions and answers at the end. But let's dive straight into the result of the second quarter of 2025. Summary of the quarter can be stated in that we've had some currency headwinds. Being a company who have a majority of our revenues in US dollars and a big part of our cost in euros is not a good match for Enea. We see on top line a currency impact of 11 million SEK and we are reporting 224 million SEK in net sales for the quarter. And currency adjusted, we report 235 million, which would mean that we are flat year over year in second quarter currency adjusted. We are reporting 33% EBITDA margin for the quarter, comparability number 35 from last year. And we have a slight increase in our net debt from 145 to 187 million in the quarter. Earnings per share, heavily impacted by financial net items and the currency headwind that we are facing, ending at minus 0.43 Swedish krona per share. And we'll come back to that a little bit later on in the presentation when it comes to the details of our financial net situation. Operating cash flow ending at 5 million for the quarter and our R&D spend stays stable at 24%. And of course, to the right hand side, yo...