Röko AB (publ) (ROKO_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you. Welcome and good day. This is Johan Blad speaking and Fredrik Olsson is here as well to be able to answer questions. We go to slide number two in our Q1 presentation. When we look at our group, we look at two important metrics for how serial acquirers perform. These are growth in EBITDA and change in leverage, obviously, given the fact that we don't take in any additional capital from shareholders. We grew EBITDA 14% in the first quarter, driven by acquisitions and organic growth, and we managed to reduce our leverage with 0.4 times from 2.3 times EBITDA at the end of Q1 2024 to 1.9 times at the end of Q1 2025. In the 12 months period since the end of Q1 2024, we have invested 556 million Swedish kronor in acquisitions, and as mentioned, have had no injections from shareholders. Continuing to page three, we have the highlights of our group's financial performance with the prior three years providing a bit of full year context. In Q1, we grew sales 9%, of which 3% was organic growth in SEK, 2% in local currency. EBITDA grew 14%, as mentioned, driven by acquisitions and organic growth. Our margins are seasonally stronger in the first quarter, but we also see a margin improvement in the quarter driven both by mix and general margin improvement. We have not mentioned on the slide here, but mentioned in the report, 7% of our net sales in the US of which the majority is goods that are manufactured outside of the US, but some install installations as well. 2% of net sales stem from goods that are manufactured in China. We obviously monitor the situation with the ongoing tariffs closely, and while they certainly pose a threat to individual and specific companies, the risk for our group is not so significant. No acquisitions were completed during the first quarter,...