Indutrade AB (publ) (INDT) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

14.8% last year, but still a high level and a clear step up sequentially from 13.7% in Q2. We had a record high Q3 gross margin of 35.5%. Margin accretive acquisitions and divestments supported as well, but the EBITDA margin was dampened by the lower organic sales and somewhat higher organic expenses. In terms of the organic expenses, around a percentage point year over year increase in absolute numbers. I would say that the expense situation overall is in control. There is still a cluster of companies which can improve somewhat. However, a majority of the companies are growing and it's likely to see some expense increase linked to this. Looking at the net sales per business area, as mentioned, the same number of working days in the quarter, but the slightly lower order book coming into the quarter and strong references resulted in a slightly negative organic sales development for the group as a whole. Organic sales was up 3% in business area, process, energy and water. For instance, many of the Swedish companies had a good development and the development within the finished process industry also improved. In technology and system solutions, sales was unchanged. Infrastructure and construction and industrial and engineering continued to be impacted by the weak general business climate. Business area life science had a 5% organic sales drop due to the strong sales to Novo Nordisk the same period last year. Excluding this life science would have had a positive organic sales growth of 6%. The business area had a continued good development within the single use area and also the medical technology distribution during the quarter. The EBITDA margin improved in two of the five business areas with the most significant improvement in infrastructure and construction. mainly d...