New Wave Group AB (NEWA_B) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Q2 was a bit less good than we thought. We knew before that it should be tougher than Q1. We had a positive calendar effect in Q1 due to Eastern and that came out negative in Q2 that we know from the beginning. Then we also have quite high effects on the currencies. So in the end, I was hoping for 3-4% organic growth in local currencies and we ended up with one point something. So it was less good than planned. The market was very tough, I have fought for a long time now. that the market will be better, but we still don't see any big signs on that. And I think that all these worrying things I use all the time about duties and tariffs and I don't know really what will happen and so on, put a wet blanket on the market. And I think that we will continue to see at least one or two more quarters with the tough market situation. We're pretty sure that we continue to take market shares and we continue to invest. We have the same speed investing in both sales, marketing and automatization and warehouse and IT and so on. And we will not pull on the brake because of this. We will continue the same way. One very good thing, hopefully, if you never know that before, of course, but one thing I'm very happy for is the acquisition of Cotton Classic that gave us a very, very strong position in several countries. So we've been the market leader in Sweden over Finland, Benelux, for quite a long time. Now we are very, very key market leader in Switzerland, also Austria after this. And we come in as number... between number three or four in Germany. And they also have quite a lot of activity in four Middle Eastern countries. So Czech Republic is a big country for them. We are not there at all. Same with Hungary. So it's also opened up Eastern Europe a bit for us, where we have been. And...