Sweden · Delayed Price · Currency is SEK I-Tech AB Earnings Call Transcripts
Fiscal Year 2026
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Record quarterly volume with 7% sales drop due to currency, not volume. Gross margin rose to 60% and operating margin to 39%. Raw material price hikes and regulatory uncertainty remain key risks, while China and maintenance segments are top growth priorities.
Fiscal Year 2025
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Q4 2025 saw a 33% drop in net sales and a 5% decline in EBITDA, but gross margin improved to 57% and cash flow remained strong. Growth was driven by China and smaller customers, while regulatory and currency headwinds persisted. Dividend increase proposed to SEK 1.25 per share.
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Third strongest quarter ever with 10% organic sales growth and strong cash flow, despite customer-specific headwinds. Gross margin and EBITDA margin improved, while regulatory costs rose due to EU re-registration. New partnerships and product launches are expected to drive future growth.
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Q2 2025 saw a 26% drop in net sales due to inventory effects and market turbulence, but gross margin improved to 59% and H1 EBITDA margin reached 30%. The business remains strong in Asia, with smaller customers and innovation projects driving future growth.
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Q1 2025 saw net sales up nearly 50% year-over-year, with record EBITDA margin and strong cash flow. Asia drove 99% of sales, with China growing fastest, while regulatory and currency headwinds are expected to increase volatility and costs in coming quarters.
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Strong growth driven by innovative antifouling technology, with Asia as the main market and ongoing regulatory efforts in the EU and US. Financials show robust revenue and margin expansion, with a rising dividend and plans for further business development and operational improvements.
Fiscal Year 2024
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Achieved record sales and profit in 2024, driven by nearly 50% sales growth and strong Asian market demand. Regulatory renewal in the EU remains a key focus, with industry support and ongoing investments in operational improvements and business development.
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A unique anti-fouling technology is driving growth in the maritime coatings market, with strong sales in Asia and expanding adoption among major paint manufacturers. Regulatory challenges in Europe are being addressed, while R&D and new market entries support future growth.
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Q3 saw 27% sales growth and a 23% operating margin, with strong cash flow and a healthy balance sheet. Regulatory risks in the EU persist, but business development and supply chain improvements are underway, supporting continued growth and market expansion.
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Magnus Henell discussed strong growth driven by premium paint trends, Asian market dominance, and ongoing regulatory challenges. Product innovation and new customer launches are expected to further expand market reach, with a new CEO set to drive strategic growth.
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Record sales and profit driven by strong growth in Japan and Korea, with Selektope now used on over 2,500 ships. EU regulatory renewal remains a key risk, but ongoing stakeholder engagement and a positive market outlook support continued expansion.