Sweden · Delayed Price · Currency is SEK Elanders AB Earnings Call Transcripts
Fiscal Year 2026
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Q1 saw 2% organic growth (FX-adjusted), with strong gains in Asia and improved EBITA margins. A major five-year contract and renewed agreements support optimism, while working capital tied up by strong March sales is expected to normalize in Q2.
Fiscal Year 2025
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Q4 saw improved demand and a significant rise in adjusted EBITDA margin to 8.7%, with strong cash conversion and margin gains across key segments. Overcapacity in warehouses remains a challenge but also an opportunity, while cost actions and efficiency initiatives support a cautiously optimistic outlook for 2026.
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Q3 saw improved underlying demand, higher adjusted EBITDA margins, and strong cash conversion, driven by cost reductions and restructuring. North America returned to growth, while Europe lagged due to Air and Sea price declines. Restructuring in LGI and digitalization initiatives are set to further enhance efficiency.
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Organic growth declined 5% year-over-year in Q2, with only Asia showing positive growth. Adjusted EBITDA margin improved to 5.5% due to cost savings, and strong cash conversion supported a reduction in net debt. Market uncertainty persists, especially in automotive and industrial segments.
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Demand declined 2% year-over-year, with Print & Packaging Solutions hit hardest and margins compressed. Strong cash conversion and cost-cutting measures offset some impact, while trade tensions and market uncertainty continue to weigh on outlook.
Fiscal Year 2024
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Q4 saw stable organic growth overall, with strong performance in electronics and FMCG, but significant declines in automotive and North American fashion. Cost reductions and restructuring are expected to yield SEK 50 million in annual savings, with a more positive outlook for 2025.
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Q3 delivered 3.9% organic growth, with strong gains in Europe and Asia, and a 12% rise in adjusted EBITDA, mainly from Supply Chain Solutions. Print and Packaging faced headwinds, but outlook for Q4 remains positive, especially for print.
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Demand and margins improved sequentially, with strong cash conversion and working capital reduction. Electronics and healthcare segments showed growth, while fashion and automotive remained weak, especially in the U.S. and U.K. Price pressure persists due to logistics overcapacity.