Ferronordic AB (OSTO:FNM)
kr 83.5 -0.5 (-0.6%) Market Cap: 1.21 Bil Enterprise Value: 2.76 Bil PE Ratio: 0 PB Ratio: 0.72 GF Score: 32/100
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Q2 2023 Ferronordic AB Earnings Call Transcript

Aug 17, 2023 / 08:00AM GMT
Release Date Price: kr69.1 (-5.34%)
Lars Corneliusson
Ferronordic AB - President & CEO

Good morning, everybody. This is Lars Corneliusson speaking, and very welcome to this presentation of our second-quarter 2023.

So if we move to the first slide, I would say, we call the report continued focus forward. We saw on the group level a good revenue increase with 68%, and we saw strong growth in revenue on both operating segments. Operating results improved from 10 million minus last year to -- and -- sorry, improved to SEK10 million minus an operating margin to minus 1.5%. And obviously, as we've been talking about before, we continue to look for new market opportunities.

In Germany, new truck sales in units increased by 33% which was in line with the market. That actually now, starts to see a better supply situation than the previous three years and the market then recovered and grew approximately by 30%. We saw a positive operating result in Germany of SEK 2 million, and we continue our investments into sustainable transport solutions.

In CIS, the growth was even bigger, and new equipment sales increased by

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