Troax Group AB (publ) (TROAX) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hi everyone and welcome to the second quarter interim report for the Trowax group. My name is Martin Nyström and I'm president and CEO of the group and together with me I'll have Anders Jeklöf and together we will present the second quarter results and after the presentation we'll open up for a Q&A. So without further ado let's dive into some news and of course the quarter. Here we go. So the second quarter offered a very interesting macro environment, and in total we reported a minus 6% order intake growth. Europe continued pretty slowly as well as Americas, while APAC was more stable in the first quarter. If we look to North Europe, we continue to develop weekly driven by the automotive as well as the warehousing segments. Southern Europe grew in the quarter and we saw this being driven by general industry as well as the process segment. We had a good run in Americas in the first quarter, but we saw from the beginning of April that our customers have become a bit more hesitant during the quarter when figuring out and analyzing what the potential tariffs and so forth would mean. And I'll come back to this in the next slide. APAC had a very strong quarter in the first quarter, as you know, so very strong start of the year. In the second quarter, we were more flattish when we report in euros. If we look into local currencies, we also have a small single digit growth also in the APAC region. Moving over to the profitability, we came in at 14.4 EBITDA margin in the quarter, mainly driven by lower volumes in Europe, but also due to FX effects. We had a solid gross margin in line with our informal target of around 40%. We initiated a cost reduction program to get to a sustainably better place. And I'll have a slide in a few slides from here going into what that entails. A...