NCAB Group AB (publ) (NCAB) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to our Q1 report. My name is Peter Kruk and I'll be starting the presentation today. Again, for the new listeners, NCAB is focused, the company focused solely on printed circuit boards and these are unique bespoke products that are the heart and foundation in any electronic or intelligent product that we supply. And these are the green boards that you see to the left on this slide. We are a company present in 19 companies across 19 countries, 19 companies, serving some 50 markets with a little bit more than 600 employees and serving our customers with the help of some 33 main partner factories. We have no in-house manufacturing, but instead of working with partners and we have Out of our 600 employees, we have some 100 plus who are working specifically with developing a factory base and working on continuous improvements with our partners. If we then move to quarter one. So it's a quarter where I think they have some positive news. On the positive side, we can see an improved order intake. We're up some almost around 10% versus where we were in Q4 and Q3. So clearly improving and it's good what we can see is it's a strong order development in North America and East and also better than what was actually already a strong Q1 last year. Europe is improving versus Q4, even if it's slightly behind where they were in Q1 last year. Revenue as a consequence from our Q3 and Q4 order intake is lagging behind, but it's recovering from Q4 as we saw some of those seasonality effects that made Q4 extra weak come back in Q1 and support us. Cross margins are down a little bit versus Q4. EBITDA is recovering with the volume. We see quite a bit of FX impact in the quarter. These are predominantly revaluation effects. So nothing that is something that's going t...