ITAB Shop Concept AB (publ) (ITAB) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

So I would like to say big welcome to everybody to the first quarter of 2025 and also the first time that we present combined figures for ITAB integrated into together with HMY. So just to remind everybody, I mean, I think most people that follow us are aware of the acquisition we made and that it became also HNY became part of ITAB as of 1st of February this year. So we have two months of HNY into the ITAB figures in the quarter, but we have decided to focus on the pro forma in order for comparability. But just to remind everybody what we are, what we've been focusing on, because when you combine two market leaders like ourselves and HNY, it's super important to keep focus on business continuity, customers and our people first, making sure that everybody understands what is going to happen, making sure that all customers are being prioritized. And then we focus on getting to know each other, understanding the strengths, the opportunities, the challenges that we have together so we truly can become better together as intended, but also to start to deliver on the synergies because this will help to make us stronger in front of our customers. It will help to deliver more value to the company. And as everybody knows, we will find these efficiencies and synergies within procurement, cross selling and general efficiency improvements. so when looking at itab group now combined with pro forma numbers for 2024 those that follow us follow us can see that sales have now doubled so we are on above 13 billion swedish in sales we have 24 manufacturing sites spread over 17 countries and we have operations in more than 40 countries with a total of around 5,400 employees. For 2024, combining the two companies, the adjusted EBIT margin was 6.9. And then adjustments are made for, of c...