Granges AB (OSTO:GRNG)
kr 124.3 -2.7 (-2.13%) Market Cap: 13.21 Bil Enterprise Value: 16.32 Bil PE Ratio: 14.04 PB Ratio: 1.39 GF Score: 88/100
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Q2 2019 Granges AB Earnings Call Transcript

Jul 18, 2019 / 08:00AM GMT
Release Date Price: kr84.76 (-0.78%)
Johan Menckel;nges AB;publ;CEO
GrÃ

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Welcome to Gränges' conference call for the second quarter of 2019. Here in Stockholm, it's me, Johan Menckel, CEO of Granges; and beside me, I have CFO, Oskar Hellström. As usual, we will start this presentation with an update of Gränges' performance during the last quarter and touch upon some important events. Then it's time for Oskar to guide you through the financial results. After that, we will conclude the presentation with a short summary and a Q&A session.

Starting with the second quarter of 2019 highlights. The main theme of the quarter is undoubtedly the increasingly challenging market conditions, especially on the automotive side of our business. And as a consequence of this, our sales volume declined by 6% year-over-year in the second quarter. Asia, in particular, China remains to be very challenging, but we did also see lower demand from European automotive customers in the quarter. The demand for the HVAC and Other business in Americas continues to develop positively, but we are

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