Luotea Oyj (0F29) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Lassland-Tikanoja first quarter 2025 earnings release. My name is Eero Hautaniemi. I'm the president and CEO. And together with me today, I have Joni Suorosanen, our CFO. We had a very positive start for 2025. A big improvement in facility services profitability. We had a strong cash flow and the preparations for the partial demerger and efficiency program are progressing as planned. In net sales, we had a five percent decrease in circular economy. This was mainly due to the slow economy in general, but especially in construction sector. In facility services, Finland, mild winter, reduced a lot of snow removal related work, but also we had planned actions to optimize our customer portfolio, which was reflected in slight decline of the net sales. First quarter is typically seasonally very small quarter for us, and this year was no exception. But nevertheless, we had a solid performance across the board. In circular economy business, we were on par. compared to the previous year, and this was despite, as I said, for the slow economy and very slow construction volumes in first quarter this year. In facility services, we had a big improvement in facility services Finland. This was mainly due to very good performance in property maintenance. Also, cleaning continued its very strong performance, but as I said, especially in property maintenance, systematic and consistent work that we have been doing now for a couple of years is finally showing in the numbers as well. In Sweden, despite the fact that we were still loss-making, the work that we have been doing is also becoming visible in the numbers. Here we have a little bit longer trends and few observations of these numbers. In circular economy business we have had a very stable performance ove...