Investment AB Latour (publ) (LATO_B) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

I will now hand over to CEO Johan Hjertansson and CFO Mikael Jonsson-Albrechtsson. Thank you very much, Katarina. Welcome, everybody. I'm here together with our CFO, Mikael, and we will take you through our Q3 report that we published earlier this morning. So if we start with the first slide, the overall group structure is unchanged. Continuing good performance of our operations despite the challenging business climate. The construction market is still slow overall, but some areas are growing thanks to trends like energy efficiency, automation, where several of our businesses are well positioned. I will comment more on the financial outcome more in detail later on in this presentation. As for the US tariffs, Latour's exposure in the US corresponds to 11% of our total net sales and the effects from tariffs are limited. Kaljan, Hultafors Group, Nordlok Group and REAC within Latour's indices have the most exposure in the US. and we aim to pass on as much of the increased costs to customers as possible related to tariffs. And if we go to the next slide with our portfolio of the 10 listed companies, the majority of our companies have reported for the Q3, and the picture of a weaker business climate is fairly consistent. However, the financial effects varies depending on industry and geographic exposure. And I think in general, our 10 listed companies in general show strong resilience. And many of the listed companies has reported strong Q3 results. For example, Assa Abloy, Sweco and HMS. The acquisition activities are high in our listed holdings. One example, among several, is Tomra, who acquired CNC during the third quarter, a leading provider of backdrop solutions for collection and processing of beverage containers in the US. And if we go to the next slide, no major ch...