Crispr Therapeutics shares tumble after significant earnings miss
InVito delivered robust financial results for the first quarter of 2025, showcasing significant growth in key areas. The company’s earnings per share (EPS) surged by 78%, driven by a 10% increase in organic sales and a 13% rise in order intake. Despite facing challenges in the e-commerce segment and mixed market conditions in Western Europe, InVito’s strategic focus on energy-efficient products and restructuring efforts contributed to its solid performance. The stock’s recent performance has been particularly impressive, with a 52.83% return over the past year. According to InvestingPro data, the company maintains a moderate debt level and has demonstrated strong profitability, with three additional key insights available to subscribers.
Key Takeaways
- Organic sales grew by 10% in Q1 2025.
- Order intake increased by 13%, boosting future prospects.
- EPS rose by 78%, reflecting strong profitability.
- Restructuring in e-commerce aims to improve competitiveness.
- Stock price decreased by 1.89% post-earnings announcement.
Company Performance
InVito demonstrated strong performance in Q1 2025, driven by its focus on energy-efficient windows and doors. The company reported a 22% increase in operating EBITDA to 111 million SEK, with an improved EBITDA margin of 5.5%. The net debt to EBITDA ratio also improved, decreasing from 1.4x to 1.1x. These metrics indicate effective cost management and operational efficiency, positioning InVito well against industry competitors.
Financial Highlights
- Revenue: Not specified in the earnings call summary.
- Earnings per share: Increased by 78% year-over-year.
- Operating EBITDA: 111 million SEK, up 22% from Q1 2024.
- EBITDA Margin: Improved to 5.5%, a 50 basis point increase from the previous year.
Outlook & Guidance
InVito remains cautiously optimistic about the remainder of 2025, targeting to double its size by 2030. The company plans to continue its focus on mergers and acquisitions, maintaining high standards for transaction quality. Seasonal improvements are expected in coming quarters, which could further enhance performance. InvestingPro analysis indicates strong analyst consensus, with targets suggesting potential upside. For detailed growth projections and comprehensive analysis, investors can access the full Pro Research Report, available exclusively to subscribers.
Executive Commentary
CEO Fredrik Muller emphasized the company’s resilience, stating, "In a macroeconomic roller coaster of historical proportions, InVito stands firm." He reiterated the commitment to quality, saying, "We will not compromise on asset or transaction quality just for the sake of growing top line, not on my watch." CFO Peter Veline highlighted challenges, noting, "We have lost between 20-30% in volume during the last two, three years."
Risks and Challenges
- E-commerce segment faces declining consumer spending.
- Market challenges in Western Europe, particularly the UK.
- Potential project delays due to weather and budget cycles.
- Macroeconomic volatility impacting consumer demand.
- Competition in key markets could pressure margins.
Q&A
During the earnings call, analysts inquired about the company’s cost base and preparations for future demand. Executives addressed challenges in the e-commerce segment and discussed recovery strategies. Questions also focused on project delays in Western Europe and the company’s M&A strategy amid current market conditions.
Full transcript - Inwido AB (INWI) Q1 2025:
Conference Moderator: Welcome to the InWido Q1 twenty twenty five Report Presentation. For the first part of the presentation, participants will be in listen only mode. During the questions and answers session, participants are able to ask questions by Now I will hand the conference over to speakers’ CEO, Fredrik Muller and CFO,
Fredrik Muller, President and CEO, InVito: to this webcast and telephone conference covering Envito’s first quarter of twenty twenty five. My name is Fredrik Muller, president and CEO of Inveto, and I’m joined here in sunny Stockholm today by Peter Veline, our group CFO and deputy CEO. We will start off with a run through of the financial, operational and strategic highlights from the past three months, followed by an in-depth review of group and business area financials before concluding our key messages, outlook and opening up for Q and A. And as usual, this presentation material is already available on Invita’s website. Many of you are, of course, familiar with Invida already and our unique features.
One year into the CEO role, I’m still taken aback by, for example, the shareholder value track record since our 2014 IPO or the fact that our 35 business units collectively form a number one position in The Nordics and a strong number two in The UK. Our well known brands are synonymous with genuine craftsmanship and high quality. Our windows and doors improve energy efficiency, safety and aesthetics of any property. I’m proud to conclude that Inveiro is off to a good start to 2025. Performance improved gradually throughout the first three months, and we continued on the growth trajectory from last year.
Our net sales grew by 10% organically. Order intake increased as well for the fourth consecutive quarter, now up by 13%. Our order backlog ended up at plus 19%, I. E, offering lots of comfort for the seasonally important months and quarters ahead. Profitability followed suit with operating EBITA edging higher in all business areas except e commerce.
Our consolidated figure was a massive 22% higher than in Q1 last year at SEK 111,000,000, equaling a margin of 5.5%, I. E, 50 basis points above Q1 twenty twenty four. This improvement should be seen in the light of continued tough market conditions with fierce price pressure and in the seasonally softest part of the year. Manufacturers have added to these figures from pricing and purchasing to productivity enhancing investments beginning to kick in. The latter bodes well for the future as volumes at many entities are currently far from normalized.
And let me also stress that in a world where tariffs are the talk of the town, Envito has no direct exposure to The USA. We can still be affected indirectly though through a general deferral of project starts or consumer purchases or via supply chain disturbances. In this past quarter, we did see an improvement in market sentiment across a few key geographies, albeit from very low levels. Scandinavia did really well with several entities reporting higher sales and margins, Renovation is picking up speed and the higher route incentive in Sweden, of course, makes a positive difference. Denmark is very solid, and Norway seems to be about to bottom out, at least for us.
Eastern Europe, in turn, bounced back in a nice way, driven by the consumer markets and housing unions in Finland. Newbill, however, remains quiet. Poland, where our exposure is limited, is rather stable. Business area e commerce was hampered by somewhat sudden and surprising general decline in consumer spending online as evidenced also by fewer Google searches for windows. Geographically, Germany was particularly demanding.
Western Europe performed well given the circumstances where England remains sluggish and fiercely competitive. Furthermore, multi budget cuts and severe weather resulted in certain project deliveries being pushed out in time. Green is good. Lots of arrows pointing in the right direction, which in this case is downward. Q1 marked another solid performance across all key sustainability parameters, most notably energy use, waste, as well as health and safety.
This doesn’t happen just like that. No, sir. I see this hard work myself across all our sites and offices on a daily basis. When I joined Envito one year ago, I clearly stated transparency as being one cornerstone in my leadership philosophy. And so here you see an honest summary of where we are on the so called vital few priorities, the what and the how that will make a difference on our strategic journey.
With the exception of m and a, which is covered on my next slide, I won’t go through these in any detail, but I will say that I’m pleased about our progress made across the line here and particularly on number four, where I witnessed a bit of a cultural revolution of synergy exploiting collaboration in the horizontal dimension. Okay. Let’s talk about m and a. This is a key building block on our road towards doubling the size of InVito by year 02/1930. No, we did not announce any transaction in q one, but it was not for lack of trying.
We have been and still are active in this field. Rather, we have taken a healthy stance and decided to disembark from a few processes as one or several of our selection criteria have simply not been met. We will not compromise on asset or transaction quality just for the sake of growing top line, not on my watch. Now the market is quite healthy. Inveto is perceived as an attractive buyer, and we are involved in several promising discussions, so I definitely remain optimistic.
On this slide, we display snapshot of our Q1 twenty twenty five key financials relative to the same quarter last year. And I can probably conclude that it’s a strong set of numbers. Order intake grew by 13% in both absolute and organic terms, and our order backlog grew further to almost SEK 2,700,000,000.0, up by 19%. Net sales in turn increased organically by 10% quarter on quarter. Operating EBITDA gained SEK 20,000,000 from last year, reaching SEK 111,000,000, which equates to a margin of 5.5%, up from five point zero percent in 2024.
The main positive delta came from VA Scandinavia and Eastern Europe. Net debt in relation to operating EBITDA decreased from 1.4 times last year to 1.1 times now or from 1.1 times to 0.8 times if not applying IFRS 16 accounting. In these turbulent times, it is highly comforting to have such a strong balance sheet that also offers substantial firepower for M and A. And now for more flavor on NVIDIA’s consolidated Q1 financials, I hand over
Peter Veline, Group CFO and Deputy CEO, InVito: to you, Peter. Please. Thank you so much, Frederic. And I’ll start with this page. This page is showing the income statement for Q1.
On the right, you can see the latest twelve months as well as last year. Starting with the quarter, sales was plus 10%. Reported as well as organic sales was plus 10. The gross margin was improved from 22.5% to 22.9%, mainly due to volume. And we have a better capacity utilization this quarter compared to last year.
We have improved gross margins in Scandinavia as well as Eastern Europe, whereas e commerce was slightly down compared to last year, and Western Europe were also down mainly due to mix. Operating EBITDA was plus 16%, and operating EBITA was plus 22%, meaning the operating EBITA margin was improved from 5% last year to 5.5% this year, an improvement by 50 basis points. We have restructuring costs in the quarter of SEK 7,000,000, same level as last year. This year is mainly related to e commerce and closedown of showrooms. And we have an improvement on EBITDA of 24%, and the EPS is plus 78% compared to last year.
Looking at the latest twelve months, we have a sales just above SEK 9,000,000,000, 9 point 2 6 billion, an operating EBITDA of SEK $973,000,000 equal to 10.8% operating EBITDA margin, same level as full year 2024, And we have an EPS of SEK $9.58 today. This page is showing the sales as well as operating EBITA development in Q1 from last year to this year to let you can see the development of sales from SEK 1,800,000,000.0 to just below SEK 2,000,000,000. And to right, you can see the operating EBITDA development from SEK 91,000,000 to SEK 111,000,000. Starting with Scandinavia. Scandinavia grew by SEK111 million and operating EBITDA was improved by SEK18 million in the quarter.
Eastern Europe had growth of SEK58 million and operating EBITDA was improved by SEK8 million. In e commerce, we have planned and expected higher sales in the beginning of the year compared to the outcome, meaning we had too high capacity and too high costs in the beginning of the year in relation to sales. And thereby, we have also lower sales as well as lower profitability within e commerce compared to last year. Western Europe as well as group wide eliminations and other were more or less on the same level as last year looking at operating EBITDA. And thereby, we went from SEK91 million to SEK111 million.
And looking more on historic performance of the quarter, this page is showing sales as well as operating EBITDA margin from 2020 to 2025 for the Q1. And looking more in historic performance, we can say that pre pandemic, the operating EBITA margin of NVIDIA was between 24%. Then during the pandemic, we had higher margins because we had low seasonality. We have a seasonality business and we are right now in the low season in Q1. But during the pandemic, we had higher sales in Q1, especially on the consumer sales in the first quarter and thereby higher margins.
So the operating EBITA margin of 5.5% this year is 50% basis points above last year and also above the level of the pre pandemic. Looking at the cash flows. We also have a seasonality when it comes to cash flow. We are always negative cash flow in the first quarter. Our best quarter looking at the cash flow position is always in Q4.
This year is less negative compared to last year. We have improved cash flow this year compared to last year, but still negative cash flow. Looking for cash flow from operating activities, there are improvements of 78,000,000 compared to last year. We have a higher net result as well as we have paid lower taxes. We pay lower taxes beginning of this year because of the result twenty twenty four was less compared to 2023, and thereby the tax payment was lower this year, beginning of the year compared to beginning of twenty twenty four.
Then we have a change in working capital. There we have an improvement compared to last year of million. We had less increase in inventory compared to last year. We also had less increase in accounts receivables compared to last year because they were a little bit higher in December 24 compared to December 23. And looking at accounts payable and other short term liabilities, there we have less decrease compared to last year.
So in total improvement of 85,000,000. If you calculate and see the working capital in relations of sales, you take the average working capital in relation to sales, there we see a small improvement in Q1 compared to Q4. Then we have CapEx. We have lower CapEx this year compared to last year. And last year, we had a CapEx of SEK84 million in the first quarter.
This year, it’s only SEK42 million, so it’s more or less a half compared to last year. This shall be seen as a temporary deviation. It will increase in the coming quarters. And the full year of ’25 will more or less be in the same level as last year looking at percent of sales. So it’s a temporary deviation just looking at Q1 when it comes to CapEx level.
So with a higher cash flow, less negative working capital cash flow in Q1 compared to last year, the net debt has increased less this year compared to last year. This page is showing net debt as well as net debt as an EBITDA, including as well as excluding IFRS 16. And as said before, we always have a negative cash flows in Q1, this year is less negative, meaning the net debt always increases in Q1. But this year the increase was lower compared to last year. Looking at Q1 this year, we had an IFRS 16 debt of SEK492 million And our net debt versus EBITDA is SEK1.1 million, including IFRS 16 was SEK1.4 million last year, and excluding IFRS 16 is SEK0.8 million and it was SEK1.1 million last year, meaning we have a quite a large compared to our target of maximum of 2.5, meaning we have headroom for future growth.
Another positive development is return on operating capital. This page is showing the return on operating capital. Return on operating capital is defined as EBITA rolling twelve months in relations to average operating capital with average calculated the latest four quarters. And there we can see an improvement. We have higher results this year in Q1 compared to last year.
That is a positive for the KPI. We have also lower operating capital due to less increase in working capital and also due to less CapEx. And thereby, we are on 13.2% compared to a target of 15%. This phase is showing the order intake as well as the backlog. To the left, you can see the graph on the backlog development from Q1 twenty twenty three until Q1 twenty twenty five.
And to right, you can see the table how the order intake has developed. Starting with the backlog. The backlog is plus 19% compared to last year, to SEK $424,000,000. Here, of course, we have a negative impact from stronger SEK, the currency SEK. So adjusted for the SEK, the backlog is plus 24%.
Product is plus 31% compared to last year and consumer is minus 4% compared to last year. However, just for sake, it’s more or less the same backlog on consumer compared to last year. Looking at the order intake, the total order intake as well as the organic order intake is plus 13%, consumer is plus 3% and organic is plus 2%, and the project is plus 33% or plus 32% organically. We have growth in Scandinavia of 13%, East is up 18%, West is plus 14%, and then e commerce is negative by 4% in the quarter.
Fredrik Muller, President and CEO, InVito: Thank you, Peter. And let’s now look into our four business areas, and let’s start with Scandinavia. Mats and the team did a really good job. We’re getting used to being spoiled by the red and white Danish dynamite, but also many of the entities in Sweden and Norway performed well in q one. EliteFunster is one key example here in Sweden.
Stronger market tailwind added to order intake growing by 16% and then almost a billion SEK of sales flowed through well oiled machinery to raise the BA’s operating EBITA margin from 7.4% last year to 8.5% now. Moving eastward, activity levels began to bounce back in the quarter, particularly for our large Pillar group and within housing unions. Antti and his team generated healthy growth in sales, order intake and order backlog, which bodes well for what’s to come. Albeit still in the red, operating EBITA and margin improved substantially to minus SEK 7,000,000 and minus 1.8%, respectively. And turning our focus to BA e commerce.
We saw a dent in the positive trend curve from last year at the beginning of twenty twenty five, as general e trade demand was suddenly lower. Still, Bo and the team did a good job of recovering lost ground towards the end of Q1. They have also taken additional restructuring measures to improve the BA’s future cost efficiency and competitiveness. Somewhat lower sales meant that operating EBITDA decreased to SEK6 million with a corresponding margin of 2.3%. We head back to The UK and to Ireland, where storm Ewen as well as short term budget cuts for a few municipalities meant that some project deliveries had to be put on hold for Q2 and beyond.
Given that lost top line and fierce price pressure in England in particular, Jonah and her team did a great job more or less maintaining the profit level from last year. Both order intake and backlog grew in a healthy fashion, and our assessment is that we have gained market share. It is time to summarize our key messages of today’s Q1 report. In a macroeconomic roller coaster of historical proportions, Invido stands firm. Organic growth rates in the high teens for organic sales, order intake and backlog are clear testimony to this.
Profitability is up with earnings per share almost doubling. And furthermore, a strong cash flow strengthened our solid balance sheet even further. Accordingly, we remain cautiously enthusiastic about the rain remainder of the year, particularly since we are also making progress on our strategic priorities. I’m content and would like to take this opportunity to thank all of NVIDIA’s fabulous employees that have once again gone above and beyond to produce a strong performance. Really well done, guys.
And now Peter and I will be delighted to answer any of the questions that you may have. Please.
Conference Moderator: The next question comes from Jonny Jin from SEB. Please go ahead.
Jonny Jin, Analyst, SEB: Yes, thank you. Good morning, Peter and Fredrik. Thank you for taking my question. I want to start off a little bit on the cost side of Thanes. I mean, looking at the operating expenses, it seems like they are up some 9% year over year, you already touched upon the e commerce business a little bit here.
But I also assume that you are preparing to meet higher demand going forward as well. So how should we think about the cost base on the group going forward here? Would you say that you are ready to meet higher demand the coming quarters with the current personnel and cost base so that the, so to speak, the operating cost base in Q1, is that representable for the coming quarters as well? Of course, there’s some seasonality here, but any comments here would be helpful. You.
Peter Veline, Group CFO and Deputy CEO, InVito: Hi, Peter here. Yes. There is an increase in the quarter this quarter compared to last year. Last year, we had a quite a tough situation in the market. We took extra cost cuts in Q1.
We had to have some temporary layoffs. We had some people working less and was paid less. So some people went in. White color went down to 80% in some countries and was only paid for 80%, etcetera. Now this year, we have a little bit more positive view on the future, and thereby we are planning for the future.
And you can all see that on order intake, the order intake is plus 30%. And looking at our cost is the main cost when we look at overhead cost is sales cost. So first, have to take a cost, then we we get the benefit, meaning higher order intake. So we have improved the order intake more than the sales has been proven in the quarter. And this is due to have taken some we have taken some extra costs also planning for the future.
How to interpret that for the coming quarters? Yes, you should calculate with some higher increase in overhead costs compared to last year, especially Q2. And then the Q3, Q4 will look like then we have to always react and adjust ourselves for the market situations.
Fredrik Muller, President and CEO, InVito: Maybe to add to what Peter said, I think we are generally trying to review the cost base and particularly the overhead on a regular basis, particularly when we stand in front of decisions to replace certain vacant positions, etcetera. It’s it always gives an opportunity to rethink the organizational structure and so forth. And in the case of ecommerce, I think they’ve taken a healthy restructuring stance towards making the business even more competitive now. They were taken a little bit by surprise early in in the quarter by the the softer demand, but really recovered ground towards the end of the quarter.
Jonny Jin, Analyst, SEB: Okay. And then just following up what you said there at the end, Sjedrik, on the e commerce side. I mean should we interpret that, that’s like the demand picked up in the e commerce segment during the end of the quarter and the adjustments that you talked about on capacity and cost in the e commerce segment, And we expect that showing already in Q2 and onwards.
Fredrik Muller, President and CEO, InVito: Yes. To answer your first question, yes, the situation did improve towards the end of the quarter. We are trying to follow some market statistics here as well, and I think we’re quite aligned with what we have seen in terms of, you know, e trade KPIs for at least Sweden. It seems we’ve done an even better job than the market. But but it’s it’s very difficult to tell.
But, again, overall, it it turned for the better towards the end of the quarter. When it comes to the cost, I’m not saying it will kick in from day one, but at least we’re taking the measures. There’s always a bit of a lag in the system and in the process before we see the full effect. But these measures are and should be seen more as long term measures to improve our competitors’ competitiveness in the long run rather than, you know, a drastic cut right here, right now to compensate for lower demand in q one. I think it’s more of a healthy strategic decision where we looked at to be very concrete, we looked at two showrooms in Denmark that were simply not profitable because they were in the wrong location.
So this is a business, the nature of which forces you to be super efficient, not only in your production day to day work, but also on the overhead side. And that’s exactly what we and the team are working on.
Jonny Jin, Analyst, SEB: Okay. And then just shifting focus a bit here to Western Europe segment. It looks like the gross margin there took a little step down here year over year. So could you maybe shed some more elaborating comments there, what happened here? And also, how should we read this onwards?
How is the margin profile in the backlog? And also, did you say that some sales in Western Europe were pushed into Q2? And if it’s possible to quantify the magnitude of that would be helpful. Thank you.
Fredrik Muller, President and CEO, InVito: Yes. We’ll start with the latter part of your question. Yes, we did see a few projects, particularly in Scotland, that were moved out in time because of no, you know, no access being granted to the sites, primarily because of weather where we and the whole country of Scotland had to shut down for a few days, but also in terms of some budget cuts for a few municipalities where they have the year end being March. So we always see some volatility towards the March or towards the end of q one as they prepare for the next budget year, so to speak. But I want to underline that these projects are not being and which is not typically the nature of the business either.
They have not been canceled in any way, so it’s more a deferral and a delay than anything else. Some will happen in q two. Some will come later this year. When it comes to profitability, it was more of a mix change, I would say. And, again, I think comparing to last year, we we had yeah.
It it varies a bit from project to port project. And and and this year, we had somewhat other deliveries than compared to last year.
Jonny Jin, Analyst, SEB: Okay. So if I read you correctly, the the pushed orders, we shouldn’t read too much into that since it sounds like it’s recurring every year, so in some extent, due to the budget.
Fredrik Muller, President and CEO, InVito: Yeah. Again, it’s That’s correct.
Peter Veline, Group CFO and Deputy CEO, InVito: I think it’s
Fredrik Muller, President and CEO, InVito: more the nature of q one to some extent where we are also more dependent on on the weather situation. We we have no reason to be less secure about this business going forward for the remainder of the year, on the contrary, I would say.
Jonny Jin, Analyst, SEB: Okay. That’s clear. And then just one final. I mean, it’s following up on your M and A comment. I mean, as you said, you need to increase the M and A pace here.
It will be necessary to reach your 2,030 targets that you are committed to. And you are mentioning that activity is high, but I think that comment have been seen for soon, one year almost. So maybe could you give some indications of what we can expect when in time this could happen? I understand you cannot give any guidance, but maybe on how the pipeline is developing is helpful, especially tying that to your comment when you said that you have terminated some discussions and like how should we read that with the pipeline? And also, I think the comment there on the bidding competition on the acquisitions is somewhat new.
So who are you meeting and how has that changed? That would be helpful. Thank you.
Fredrik Muller, President and CEO, InVito: Yeah. I mean yeah. I mean, I I I I’m fully aware that I’ve stuck my chin out on this one, and and it just goes to show that the nature of m and a is is binary, to say the least. I would be frustrated if we hadn’t if we hadn’t had a, you know, enough activity or a structured approach in in the work that we’re doing, but but that is really not the case. In I would say I’m more actually proud of us, yeah, leaving one or two discussions because the the I mean, the stars were really not aligned in in in a good way where we saw too much risk, to be honest.
And this was risk, could, for example, be related to environmental matters that if you don’t get security or comfort around that, it can be a huge negative surprise blowing up in your face, and we don’t want that, and we don’t want to destroy the the rather nice performance track record we have within m and a. So I I won’t really I won’t really promise or provide any particular timing on m and a in our case. We have also seen the the nature of, you know, privately held companies where the owners are considering an exit. It’s just very emotional and psychologically tough to push the button right there and then. So we’ve seen some of that, you know, going back and forth a little bit.
And we’ve of course, the the current uncertainty in the market in general from a macroeconomic perspective doesn’t really help, where buyers and sellers need to agree on where the business is coming from and where the business is heading from here. But I remain I remain overall optimistic. So even though we’ve jumped out of one or two processes, it doesn’t mean that we we have nothing else to work on on the contrary. And, again, the the firepower we have on our on our balance sheet is, of course, very useful in these times as well.
Jonny Jin, Analyst, SEB: Yes. I understand that. But the comment around the bidding competition on the acquisitions, can you say who for me, that’s a little bit new. Who are you meeting? Would you say that the I mean, activity is still high end.
I understand that. But would you say that the the M and A comment should I read that as the it has become more cautious since the start of the year? Or how should we read that?
Fredrik Muller, President and CEO, InVito: Yeah. It’s yeah. Maybe that’s a good summary, actually. It’s of course, it depends on when and where we see structured auction processes, then for sure, will meet some competition depending on the nature of that particular transaction. So it could be PE firms, but it could also be, you know, larger competitors.
And and there is an abundance of capital still out there. So so, of course, for the more attractive targets, I think it’s fair to say that we need to be prepared for a little bit more competition on and and in some cases, bid levels going up. That that’s fine. I think we are quite comfortable with the processes as such and with the synergies that we typically can exploit when we do do the transactions.
Conference Moderator: The next question comes from Alban Nordmark from Nordea. Go ahead.
Alban Nordmark, Analyst, Nordea: Yes. Hello, Alwyn from Nordea. Just some questions. Just to continue here firstly on Western Europe to understand the underlying operations here. The EBITDA margin was down some 30 bps year over year.
And can you put some numbers on the effects from the storm mainly affecting? Would the EBITDA margin still be down without the storm, so to say?
Peter Veline, Group CFO and Deputy CEO, InVito: Without, it’s very hard to say exactly what it will be. But in general, will say, we’ll be more or less the same level as last year.
Alban Nordmark, Analyst, Nordea: All right. That’s clear. And then if you could comment on the consumer versus project order intake for Scandinavia, Eastern And Western Europe would be helpful.
Peter Veline, Group CFO and Deputy CEO, InVito: We don’t disclose that information. We’re just showing for the entire group, but it’s more or less the same for the group that we have a little bit lower order intake in consumer compared to the project. So the project business has been driving Scandinavia, Western as well as Eastern. We have some growth in the consumer as well.
Alban Nordmark, Analyst, Nordea: The consumer order intake is positive for the three of those?
Peter Veline, Group CFO and Deputy CEO, InVito: Yes. Slightly positive, yes. And then we have a high growth on product sales on all these threes.
Alban Nordmark, Analyst, Nordea: Yes, exactly. That’s clear. And then just finally, you mentioned some entities in Eastern lost some 60% of volumes. I think you mentioned that, Fredrik. And how much would you say Eastern or let’s say Finland as a whole in volume upside to, let’s say, normal levels?
How much upside is there? Yes.
Fredrik Muller, President and CEO, InVito: That’s a tricky question. It varies quite a lot from entity and entity. Pela Group that we mentioned is larger and and covering a broader base of the market and even geographically, I would say. And then we have a couple of smaller and more sensitive entities, some of which are exposed more to, for example, a premium premium niche of the whole market. So there, of course, the volatility in demand can be be higher compared to the midsize, the medium segment of the market.
Alban Nordmark, Analyst, Nordea: You’re right. But let’s say in two or three years, you’re back to normal levels. Like how much volume is there up from here than in Eastern? That’s
Peter Veline, Group CFO and Deputy CEO, InVito: total is in we are lost between 2030% in volume during the last two, three years.
Alban Nordmark, Analyst, Nordea: There
Conference Moderator: are no more phone questions at this time. So I hand the conference back to the speakers for any written questions and closing comments.
Peter Veline, Group CFO and Deputy CEO, InVito: We have received one question from Jani and the question is what is the time frame between order intake and sales? It depends between consumer and project. Consumer orders, in some companies, we can we have speed deliveries. We can deliver in two weeks. But in general, the consumer orders have delivery time between six and eight weeks.
So for consumers, between six and eight between order intake and sales. When it comes to product sales, there’s a bit longer. It can be between even more than one quarter up to one year, but the average is around two quarters plus. So a little bit more than two quarters when it comes to product sales. And then we don’t have any further questions, so I hand over to Fredrik for some closing remarks.
Fredrik Muller, President and CEO, InVito: Okay. Thank you, Peter, and thanks everyone out there for attending. Wish you all a very nice day. Have an in vitro day. Thank you very much.
Bye bye.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.