BHG Group AB (FRA:7B1)
€ 1.52 0.022 (1.47%) Market Cap: 279.10 Mil Enterprise Value: 436.04 Mil PE Ratio: 0 PB Ratio: 0.54 GF Score: 41/100
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Q2 2024 BHG Group AB Earnings Call Transcript

Jul 18, 2024 / 08:00AM GMT
Release Date Price: €1.28 (-20.78%)
Gustaf Oehrn
BHG Group AB - Group Chief Executive Officer

Hi. My name is Gustaf Oehrn, and I'm the CEO of BHG. I hope that you're enjoying the summer, and we're super pleased that you are listening in, and we are sorry if we are interrupting your summer holiday. I am here together with Jesper Flemme to present our Q2 report. We will also be available after the presentation to do our best to answer your questions.

Slide 2, please. The financial highlights of the report. Another challenging quarter from a market perspective and sales was down approximately 30% organic versus the same quarter last year. Earnings came in with a profit of SEK99 million in the quarter, and we are pleased that we managed to improve our results versus last year.

Please also be mindful that Q2 was our strongest quarter last year, where we had the majority of the positive effect from the inventory reduction sell out last year. As mentioned, top line was a challenge, and the improvement in earnings came from a reduced direct selling cost and reduced SG&A, both being the result of the hard work we have done in

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