Detection Technology PLC (OHEL:DETEC)
€ 14.35 -0.15 (-1.03%) Market Cap: 210.31 Mil Enterprise Value: 197.65 Mil PE Ratio: 26.10 PB Ratio: 2.85 GF Score: 87/100
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Q2 2023 Detection Technology Oyj Earnings Call Transcript

Aug 03, 2023 / 10:00AM GMT
Release Date Price: €14 (-3.11%)
Hannu Martola
Detection Technology Plc - President, CEO, Chairman

Good afternoon. My name is Hannu Martola and I'm pleased to present you Detection Technology half-yearly report and second-quarter financials.

As total, our sales reached 25.2 million sales, up 10.8% from last year. We have resulted 1.4 million in EBIT, slightly more than last year, the EBIT percentage was 5.4. In altogether, I think we started to move forward but not enough, and also, we are not satisfied with our profitability.

Looking then, there is various businesses. Industrial sales was slightly down 6%, it was an outcome of actually some reduction in inventories, and also the industrial sales in China was fairly low. We must remember that the industrial sales market in China is actually at the beginning and overall, long term looks promising. Good news is that the demand normalized towards the end of second quarter, so we should look forward for a better second half.

Medical sales was really strong, 22%. It's a big number but we also must remember that the underlying quarter was soft, so affecting this

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