Indutrade AB (publ) (INDT) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome and good morning on our behalf as well. As usual, let's start with the overall highlights. In terms of order intake, we had a total growth of 5%, organically an increase of 1%, despite the uncertain market situation. Good demand from customers within pharmaceutical production, the process industry more broadly, and also the energy sector. And the majority of companies had organic order intake growth. Net sales increased 4% in total, organically it was unchanged. The EBITDA margin came in at 13.6%, excluding some one-offs, 13.3%. And continued improvement in working capital efficiency and record one operational cash flow of 644 million SEK. And three acquisitions completed so far in 2025. And the pipeline remains good. If we then turn to order intake and sales, as mentioned on the previous slide, demand was good with organic order intake growth, despite the increased market uncertainty. We had a positive book to bill with orders being 5% higher than sales. And there was continued variation between companies, segments and countries. with the strongest growth in medtech and pharmaceuticals, the process industry and the energy sector. Demand within infrastructure and construction was stable, while the general engineering customer segment continue in general to be somewhat weaker. In terms of sales, we grew 4% during the quarter, all related to acquisitions. Organically, it was flat. on the back of the lower order backlog coming into the quarter. During Q1 last year, we were negatively affected by the Easter holiday. And also this year, we had no help in terms of number of working days. If we then look at sales in a geographic perspective, the development within the Nordics was on an aggregated level flat from last year. Finland continued to be a bit weaker while ...