Meko AB (publ) (MEKO) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.697 Good morning and welcome to MEKO's presentation of our results for the second quarter 00:00:04.697 -- 00:00:06.540 2025. 00:00:06.540 -- 00:00:11.647 I'm here with our CFO, Christer Johansson, and together we will walk you through our 00:00:11.647 -- 00:00:14.748 performance and current position. 00:00:15.392 -- 00:00:20.519 Already in the first quarter, the market slowed somewhat, affected by international turbulence 00:00:20.519 -- 00:00:25.786 and uncertainty about the economy. This situation continued into the second 00:00:25.786 -- 00:00:31.061 quarter with lower demand. This also intensified competition, particularly 00:00:31.061 -- 00:00:36.287 in Denmark and Poland. All in all, this impacted our Q2 sales 00:00:36.287 -- 00:00:41.513 and our organic growth decline compared to the same quarter last year, which actually 00:00:41.513 -- 00:00:44.835 was the strongest in our history. 00:00:44.957 -- 00:00:49.322 For some time now, we have stepped up our efforts to build a stronger and more profitable 00:00:49.322 -- 00:00:54.849 MIACO. This has included extensive savings and optimization initiatives, 00:00:54.849 -- 00:00:59.968 which have shown clear effect. But the slower market have affected both our 00:00:59.968 -- 00:01:05.058 sales and results in Q2, despite our focus on efficiency. 00:01:05.058 -- 00:01:08.465 And we are responding to this immediately. 00:01:08.465 -- 00:01:13.736 So we're now launching a new cost reduction program that will lower our costs 00:01:13.736 -- 00:01:19.284 by 100 million SEK annually, with full effect going into 26. 00:01:19.647 -- 00:01:25.414 Beyond reducing costs, we're also working with more focus to increase our sales. 00:01:25.414 -- 00:01:30.500 Several activities are underway, both lo...