FM Mattsson Mora Group AB (publ) (FMM_B) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Varmt välkomna till FN Mattsson Groups presentation av andra kvartalet 2024. Vi som presenterar idag, det är i vanlig ordning jag, Fredrik Skarp, som är koncernchef och vd. Bredvid mig har jag min kollega Martin. Hej, jag är Martin Gandersson, CFO för koncernen. And those of you who are familiar with us will recognize this image that we are a company that focuses on mixers and bathroom products and kitchen products within six different product brands, which is what is visible to our customers. Six product brands that give us both a good breadth and good depth to process different customer segments and geographies. If we take a closer look at the development during Q2 2024, we can see that there has been a continued challenging market situation due to the conjecture we have, and which we have also had with us for a while. If we look at sales development in Q2 2024 compared to Q2 2023, We noticed that we decreased it by almost 3% and then we see some differences in our two different segments that we reported within the Nordic business that went down a little more. We decreased it by 4.5% while our business outside of the Nordic, called International, had a small decline of 0.6%. This lower sales also affects our EBITDA margin, which reached 11% during Q2 this year. If we compare that with Q2 2024, it is a small decline from 12.7%. But we can also note that we see an improved gross margin during the second quarter, which is a result of purchase effectiveness and a better product mix. But what also affects the margin in this quarter is that we have a higher sales cost, which is a result of us making active decisions to try to move forward our market positions. We also have slightly higher deductions from various investments we have made in recent years. What also feels g...