NOTE AB (publ) (NOTE) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and very welcome to Note's second quarter presentation. As always, when we have the current president in the US, we see some disturbances during the weekend. So how do we cope with those changes and so on? But we will only touch upon that topic and focus more on Note's performance. Let's start with this. When we presented Q1, we were quite, how should I say, nervous about how the global factors would affect us. We were cautious in our guidance. We saw some slowdowns. We were seeing and expecting that the turbulence on the financial market would be bigger than it actually became. So we were quite... pessimistic. We were expecting customers to move out of their orders more in time than we have seen. So if I look at this quarter, it came in, as we see it, fairly much in line with what we said. 980 million in sales with roughly 35 million in negative effect from coming from currency. So sales were as we were expected. Our profitability, 9.6% underlying. were at 10 in the first quarter then we also we we knowing that are doing this we see that there are some what do you call it some vip build up that were stronger in the first quarter that means that we produced some products we stored them over the q1 and and then we sold them out in second quarter and that has some effect so i would say the first and second quarter is Even if we reported 10% in Q1 and 9.6 in this, it's two very similar quarters. It's more of a movement between those two factors. And then that is things you have in all quarters that you have some effects of this. Earnings per share, 2.65, up with 7%, if I made my calculations correct from last year. Cash flow, I will come back to that on the next slide. But we think that it's very important that we continue to generate good cash flows. Net d...