Nov 22, 2024 / 08:30AM GMT
Torben Paulin - TCM Group A/S-Chief Executive Officer - Member of the Executive Management Board
Good morning, ladies and gentlemen, and welcome to the presentation of the third quarter results for TCM Group. Presenters today are our CFO, Thomas Hjannung; and myself, CEO, Torben Paulin. We will comment on the business and the financial results. After which, we will hand over to the Operator for the Q&A session.
Let us start the presentation and turn to page 2 for the business update.
Sales in the third quarter developed positively despite the expected weak B2B kitchen market, we delivered an organic sales growth of 7%, supported by the very strong uplift in B2C sales. As expected and in line with the market, B2B sales declined, driven by the continued slowdown in the project sales market. The improvement in gross margin compared to last year Q3 was driven by two factors: the normalization of gross margin following last year's downward adjustment of third-party income and the improved sales mix with higher share of B2C. Despite generally
Q3 2024 TCM Group A/S Earnings Call Transcript
Nov 22, 2024
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