Detection Technology PLC (OHEL:DETEC)
€ 15 0.55 (3.81%) Market Cap: 219.84 Mil Enterprise Value: 207.17 Mil PE Ratio: 26.90 PB Ratio: 2.94 GF Score: 85/100
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Q2 2022 Detection Technology Oyj Earnings Call Transcript

Aug 03, 2022 / 10:00AM GMT
Release Date Price: €19.55 (+8.61%)
Hannu Martola
Detection Technology Plc - President and CEO, Chairman of the Management Group

Good afternoon, everybody, and welcome to follow Detection Technology, half yearly and second quarter result. My name is Hannu Martola. I'm the President and CEO. I'm pleased to be reporting to our proceedings from second quarter.

As total, we actually did not reach what we expected. There is some positive news that took place in second quarter, but also some negative news. And due to an unexpected event in our supply chain for medical business unit products, actually we went down as a total company.

So the sales were 3% less than last year. We reached the sales of EUR22.8 million and due to the low sales as well as some other one-time costs, which I will come back to, we reached an EBIT of 5.2% and EUR1.2 million.

Then looking more closely what took place. I think we are very, very pleased and happy of the strong performance of both industrial business unit and security business unit. Industrial business [unit] reached even 29% growth. It was driven mainly by demand in the food

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