Kendrion N.V. (0G68) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Welcome to Kendrion's Q1 2025 results teleconference. My name is Joep van Buurden, Kendrion's CEO, and with me on the call here is Jeroen Hemmen, our CFO. I will start the meeting with some remarks regarding our Q1 results, after which we'll have time for Q&A. We will post a recording of this call and of the Q&A on Kendrion's corporate website as soon as is practicable. I would like to draw your attention to the fact that certain statements contained in my remarks and in the answers to your questions constitute forward-looking statements. These forward-looking statements rely on several assumptions concerning future events and are subject to uncertainties and other factors, many of which are outside the company's control, which could cause actual results to differ materially from such statements. We will start with the financial review. We are pleased to report a solid start to 2025 with first quarter revenue rising 4% to 78.1 million euro despite global economic challenges. Revenue in industrial breaks increased by 7% to 30.4 million euro in Q1 2025 following the gradual market recovery that began in the second half of last year. Revenue in industrial actuators and controls declined by 8% to 29.6 million euro, primarily due to ongoing weakness in the machine building markets. This was partially offset by growth in segments such as circuit breakers for electricity distribution and safety valves for nuclear power plants. Of course, the IAC revenue is compared to Q1 2024 when IAC trading was relatively strong. In the mobility segment, revenue amounted to €18.4 million in Q1 2025, which is 25% higher than a year ago. This growth was driven by the ramp-up of projects in China. We are making steady progress towards our 15% EBITDA target by the end...