Latest news with #SEK
India.com
2 days ago
- Business
- India.com
Isha Ambani breaks silence over Mukesh Ambani's decision to acquire Kelvinator, says, 'Our mission has always....'
Mukesh Ambani and Isha Ambani (File) Isha Ambani's Reliance Retail acquires Kelvinator: In a significant update for Mukesh Ambani and Isha Ambani led Reliance Retail, the company recently announced the acquisition of consumer durables brand Kelvinator from the Electrolux Group. Pegged at SEK 180 million (nearly Rs 160 crore), the deal is seen by experts as market-changing, aimed at accelerating growth in the rapidly expanding premium home appliances including refrigerators, air conditioners, air coolers and washing machines in India. Why Reliance Retail acquired Kelvinator brand? Notably, Reliance Retail had earlier used the Kelvinator brand under license from Electrolux Home Products Inc. The acquisition of the Kelvinator brand is poised to significantly amplify the company's leadership in India's fast-growing consumer durables sector. How has Isha M Ambani reacted to the deal? 'The acquisition of Kelvinator marks a pivotal moment, enabling us to significantly broaden our offering of trusted global innovations to Indian consumers. This is powerfully supported by our unmatched scale, comprehensive service capabilities, and market-leading distribution network,' Reliance Retail Ventures Ltd Executive Director Isha M Ambani said in a statement. 'Our mission has always been to serve the diverse needs of every Indian by making technology accessible, meaningful, and future-ready,' the Executive Director, Reliance Retail Ventures Limited (RRVL) added. How much is the Reliance Retail- Kelvinator deal worth? While Reliance Retail did not disclose the value of the acquisition, Electrolux Group in its interim report for Q2 2025 said 'its operating income included a positive effect from the divestment of the Kelvinator trademark portfolio in India of SEK 180 million' and it had net sales of SEK 31,276 million in the quarter. The company said by integrating Kelvinator's rich legacy of innovation with Reliance Retail's expansive retail network, the company is set to unlock substantial consumer value and accelerate growth in the rapidly expanding premium home appliances market across India. This synergy will ensure that high-quality, globally-benchmarked products are accessible to every Indian household, enhancing their daily lives, it added. (With inputs from agencies)
Metro
3 days ago
- Entertainment
- Metro
Indiana Jones dev working on multiple games but is it Wolfenstein 3 and Quake?
Some suspect the studio's already working on an Indiana Jones sequel (Bethesda) MachineGames' latest financial report mentions plans for multiple projects and what might just be Wolfenstein 3. It's difficult to be enthusiastic about Xbox's gaming prospects after another brutal wave of layoffs has seen hundreds of its employees out of work and several projects cancelled. Some of Microsoft's internal studios have escaped relatively unscathed, though. Case in point: MachineGames, the Swedish studio responsible for Indiana Jones And The Great Circle. The lack of official information about the layoffs means there's no telling how badly MachineGames was impacted, if it was at all, but a recent financials report from the studio suggests it has more than one game currently in development. Spotted and shared by Timur222 on Bluesky, the report covers MachineGames' 2024 fiscal year, which runs from January 2024 to December 2024, and by all accounts it seems to have been a successful one. Net sales were higher than the year before, with MachineGames generating roughly 428 million SEK (about £33 million) compared to the approximately 350 million SEK in 2023. As a result, the studio turned higher profits than both its 2023 and 2022 financial years, with a net profit of about 26 million SEK (about £2 million). You can view the results here and on the surface, they sound good – although who knows whether the higher-ups at Microsoft see it that way. Expert, exclusive gaming analysis Sign up to the GameCentral newsletter for a unique take on the week in gaming, alongside the latest reviews and more. Delivered to your inbox every Saturday morning. MachineGames's financial statements for 2024 are outFuture Development:With new exciting projects in development, MachineGames is optimistic about the future for both the company and the industry as a wholeOther info — Timur222 (@ 2025-07-20T14:08:09.587Z In an attached management report, MachineGames says: 'With new exciting projects in development, MachineGames is optimistic about the future for both the company and the industry as a whole.' You'll note they say projects, in the plural, which would seem to mean at least two, even though there's no official word on what any of them are – but there are plenty of theories. The most likely is a Quake reboot, which MachineGames has been hinting about for years and even seemed to be teased during the marketing for The Great Circle. Not only have MachineGames staff openly talked about wanting to reboot the Quake series, which was originally created by id Software, but they've already contributed new expansions to the remasters of Quake 1 and Quake 2. There's been less hints about another Wolfenstein game but the original plan was for a trilogy. However, the limited commerical success of Wolfenstein 2 seemed to put a stop to that – or at least delay it significantly. Back in 2018, Pete Hines – the then vice president of PR and marketing, at publisher and owner Bethesda – confirmed a Wolfenstein 3 was on the table. Hines retired from the company in 2023, but that doesn't necessarily mean plans have changed and that same year MachineGames posted a new job listing for someone with a passion for 'first person immersive games' and a 'strong familiarity with MachineGames' titles.' Considering the more recent success of the Indiana Jones game, MachineGames is more likely to be preparing for a sequel. Some believe this has already been hinted at by a recent job listing for a senior concept artist at the studio. However, the listing makes no mention of working with the Indiana Jones brand, with the only hint being that applicants need 'experience working in the game and/or film industry.' Aside from being optional, the studio's request for film industry experience doesn't necessarily mean it's for another Indy project and could just as easily apply to any other game with cinematic style presentation. It may also be too early for MachineGames to have started development on a second Indiana Jones game, as it's yet to release The Great Circle's DLC story expansion. As a reminder, the expansion is dubbed The Order Of The Giants and is scheduled to launch across all platforms on September 4. How about we wait till the DLC's come and gone before asking for new Indy game (Bethesda) Email gamecentral@ leave a comment below, follow us on Twitter. To submit Inbox letters and Reader's Features more easily, without the need to send an email, just use our Submit Stuff page here. For more stories like this, check our Gaming page. Arrow MORE: Indiana Jones And The Great Circle PS5 review – Indy gaming goes multiformat Arrow MORE: PS6 and next gen Xbox could cost over £1,000 based on AMD chip leak Arrow MORE: Xbox is being set up to fail by Microsoft bosses, claims insider
Yahoo
3 days ago
- Business
- Yahoo
Nordnet AB (publ) (FRA:9JL) Q2 2025 Earnings Call Highlights: Strong Customer Growth Amidst ...
Revenue: Flat year on year. Net Interest Income: Decline due to lower interest rates, partially offset by higher deposits. Operating Expenses (OpEx): Up 9.7% excluding Germany, with full-year guidance of around 8% cost growth excluding Germany. Customer Growth: 14% year-on-year increase. Savings Capital: Growth of 10%, now above SEK 1 trillion. Number of Trades: Up 18% due to a growing customer base and higher volatility. Dividend: SEK 8.10 paid. Share Buyback Program: New program announced, starting with SEK 250 million, with an intention to reach SEK 500 million. Fund Business: Steady growth in fund capital, with a dip in Q2 revenue due to market downturn. Deposits: Increased from SEK 79 billion to SEK 83 billion. Liquidity Portfolio Revenue Estimate: SEK 1.6 billion for 2025. Loan Portfolio Revenue Estimate: SEK 1.1 billion for 2025. Deposit Interest Expense Estimate: SEK 400 million for 2025. Customer Base: More than doubled since 2019, from 1 million to over 2 million customers. Warning! GuruFocus has detected 3 Warning Signs with OSTO:SEDANA. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Nordnet AB (publ) (FRA:9JL) reported stable financial performance with revenue and profit in line with the previous year. The company experienced strong customer growth, with a 14% increase year-on-year, and savings capital growth of 10%, surpassing SEK 1 trillion. Nordnet AB (publ) launched eight new trading venues in Europe and introduced a new private banking tiering in Sweden, which has been well received. The company announced a new share buyback program and maintained a strong capital situation, enabling a 70% dividend payout. Nordnet AB (publ) has shown good scalability and cost control, with revenue growing at 25% per year since 2019, while costs have only increased by 7% annually. Negative Points Net interest income declined due to low interest rate levels, although partially offset by higher deposits. Operating expenses, excluding Germany, increased by 9.7% due to marketing spend, with an expected full-year cost growth of around 8%. Net savings were lower this quarter compared to the previous year, attributed to existing customers transferring less money. The company faced a decline in trading revenue due to lower trading volumes and a decrease in cross-border trading. Fund revenue dipped in Q2 compared to Q1 due to market downturns and customer sell-offs, although fund capital levels have since recovered. Q & A Highlights Q: Can you elaborate on the impact of the new private banking tiering on revenue and customer acquisition? A: Lars-Ake Norling, CEO, explained that while the new private banking tiering might slightly impact revenues, it is expected to drive significant customer interest and acquisition. The tiering offers clear benefits at each level, encouraging existing customers to increase their capital to access better rates and attracting new customers with its transparent and low-cost structure. Q: How do you view the competitive landscape for private banking in Sweden and other markets? A: Lars-Ake Norling, CEO, stated that Nordnet aims to attract customers from other platforms and banks by offering a modern, digital, and transparent private banking service with clearly defined tiers and benefits. The competitive situation is most intense in Sweden, but the framework is expected to perform well across all markets. Q: What factors contributed to the strong net interest income (NII) performance, and do you foresee any changes? A: Lars-Ake Norling, CEO, attributed the strong NII performance to higher deposit volumes, which increased the liquidity portfolio and revenues. While there is potential to take on more risk for higher returns, the main driver remains deposit levels. Q: Can you discuss the dynamics behind Norway's performance and Denmark's decline in the recent quarter? A: Lars-Ake Norling, CEO, noted that Norway's performance benefited from its unique market dynamics, including industries like oil and fish, which differ from other countries. Denmark's decline was influenced by a poor market sentiment due to Novo Nordisk's performance, impacting trading activity. Q: What is Nordnet's strategy for entering the German market, and how does it differ from past attempts? A: Lars-Ake Norling, CEO, explained that the German market is now more mature, and Nordnet is better positioned with a strong base in the Nordics. The focus is on leveraging profitable growth and a mature market to succeed in Germany, unlike the previous attempt when Nordnet was not ready to scale. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Sign in to access your portfolio
Yahoo
5 days ago
- Business
- Yahoo
Saab AB (SAABF) Q2 2025 Earnings Call Highlights: Record Sales Growth and Upgraded Guidance
Order Intake: 28 billion SEK, a 32% increase compared to the same quarter last year. Sales Growth: 30.4% year-over-year at the group level, marking the strongest second quarter ever. EBIT Growth: 48.5% increase at the group level, with a positive trend in EBIT margin reaching 9.4% over the last 12 months. Cash Flow: Negative 1.2 billion SEK for the first half of the year, an improvement from negative 4.2 billion SEK last year. Backlog: Increased by 8% year-over-year to 198 billion SEK, with 71% from Dynamics and Surveillance. EPS: Increased from 1.85 SEK to 2.83 SEK this quarter. Gross Margin: Declined due to higher corporate costs related to IT security and digitalization efforts. Net Liquidity Position: Positive, amounting to almost 700 million SEK. Equity to Asset Ratio: 37.7%, indicating a solid balance sheet. Guidance Upgrade: Sales growth guidance increased to 16-20% for 2025, up from 12-16%. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Saab AB (SAABF) reported a strong quarter with a 32% increase in order intake compared to the same quarter last year, reaching approximately 28 billion SEK. The company upgraded its guidance for growth from 12-16% to 16-20% for the year, reflecting confidence in its ability to deliver from its backlog. Saab AB (SAABF) achieved a significant EBIT margin improvement, growing more than the top line, with a positive trend reaching 9.4% on a rolling 12-month basis. The dynamics division experienced exceptional growth, with a 72% increase in deliveries compared to the previous year, driven by strong demand and capacity ramp-up. Saab AB (SAABF) is making strategic investments in R&D and capacity expansion, including new factories in India and the US, to meet increasing market demand and maintain competitiveness. Negative Points Despite improved cash flow from last year, Saab AB (SAABF) reported a negative cash flow for the first half of the year, attributed to high inventory levels and front-loaded investments. The aeronautics division faced a decrease in EBIT margin due to startup costs for the T7 program and increased R&D and marketing expenses. The underwater systems business unit is pulling down the profitability of Saabcockums due to ongoing development and certification challenges. Gross margin declined year-on-year, mainly due to higher corporate costs related to IT security and digitalization efforts. The company faces challenges in predicting the timing of mega deals, which are subject to political and parliamentary processes in various countries. Q & A Highlights Q: Can you clarify the dynamics margin and if it will remain slightly above mid-teens over time? A: Micael Johansson, President and CEO, confirmed that the dynamics segment should maintain mid-double-digit margins over time, despite quarterly fluctuations, due to a mix of frame agreements and competitive contracts. Q: How might the US putting the AUKUS pact with Australia on hold impact Saab's Australian submarine business? A: Johansson explained that Saab's Australian submarine business is primarily focused on supporting the existing Collins class submarines, which is a small part of their operations. The impact of the AUKUS pact delay on this business is unclear, but it is not a significant portion of their Australian operations. Q: With better-than-expected progress in the first half of 2025, why not reassess the 2027 guidance? A: Johansson stated that they will continuously assess midterm targets and plan to provide updates in 2026. They are confident in the current demand and order intake but will not provide specific guidance until then. Q: How did Saab achieve such strong results in the dynamics division this quarter? A: Johansson attributed the strong results to investments in automation and new facilities, such as an autonomous facility in Sweden and new factories in India and the US. These improvements have enhanced production capacity and efficiency. Q: Are you investing at a fast enough pace to meet demand and order intake in dynamics and surveillance? A: Johansson assured that Saab is forward-leaning in investments to meet capacity demands, both in production facilities and R&D. They are confident in their competitive position and are continuously improving their capabilities. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
5 days ago
- Business
- Yahoo
Husqvarna AB (HSQVY) Q2 2025 Earnings Call Highlights: Strong Growth in Robotics and Debt Reduction
Organic Sales Growth: 5% for the group, driven by Husqvarna Forest and Garden and Gardena divisions. Operating Income: Increased by 7% to SEK2,041 million, with a 1% point margin improvement. Direct Operating Cash Flow: SEK2.4 billion in the second quarter. Net Debt Reduction: Reduced by SEK3.3 billion compared to the same period last year. Robotics and Battery Sales: 22% of group sales, up from 20% on a 12-month rolling basis. Husqvarna Forest and Garden Division: 5% organic sales growth and 13.3% operating margin. Gardena Division: 7% organic sales growth and 17.5% operating margin. Construction Division: 4% organic sales decline, but improved operating margin to 12.7%. Inventory Reduction: Reduced by close to SEK3 billion compared with last year. Net Debt/EBITDA Ratio: Improved to 2.3% from 2.5% at the start of the year. Currency and Tariff Impact: Negative currency impact of SEK125 million and tariff impact of SEK65 million in the quarter. Warning! GuruFocus has detected 9 Warning Signs with HSQVY. Release Date: July 18, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Husqvarna AB (HSQVY) reported a 5% organic growth in net sales for the second quarter of 2025, driven by strong performance in the Forest and Garden and Gardena divisions. The company achieved a 7% increase in group operating income, with an improved EBIT margin across all three divisions. Robotic mowers and watering products showed strong performance, contributing significantly to the company's growth. Husqvarna AB (HSQVY) successfully reduced its net debt by SEK3.3 billion compared to the same period last year. The company made significant progress on its sustainability agenda, achieving two out of three sustainable targets, including a 55% reduction in CO2 emissions. Negative Points The macroeconomic environment remains uncertain, with ongoing trade tariffs, geopolitical instability, and currency fluctuations impacting the company. North America continues to be a challenging market, with lower sales and operating income across all three divisions. The company faced a negative currency effect of SEK125 million and a negative price impact of SEK160 million in the quarter. The Construction division experienced a 4% decline in organic sales, primarily due to weak market conditions in North America. Despite strong growth in the robotic segment, the company faced intense competition and aggressive pricing, particularly in the entry-level segment. Q & A Highlights Q: Can you confirm whether the market for robotic mowers grew faster than Husqvarna's 14% growth, and was there a pipeline fill impacting this growth? A: The market has grown, particularly in the pro segment where Husqvarna maintains market leadership. In the mid-market and entry segments, the market grew larger than Husqvarna's growth. The retail pilot is still marginal and not significantly impacting sales figures. Q: Given the price adjustments in the lower end of the robotic mower category, will Husqvarna continue to invest in this segment despite price headwinds? A: Husqvarna remains committed to the entry-level segment as a premium brand, ensuring brand value and reliability. The company leverages synergies across its product range and has no intention of exiting the entry-level segment, which complements the Gardena watering range. Q: Are dealers in Europe increasingly multi-sourcing robotic mowers, and how does Husqvarna plan to address competition from Asian manufacturers? A: While competition is increasing, Husqvarna's core dealer network remains loyal, and the company continues to focus on R&D and innovation. Some dealers carrying other brands may introduce new entrants, but Husqvarna's sales growth indicates strong dealer trust. Q: What is the current share of boundary wire-free robotics within residential sales? A: The share of boundary wire-free robotics in residential sales has increased to 75% in value, indicating strong consumer preference for these products. Q: Has there been any pre-buying in the US due to tariffs, and what is the expected impact of tariffs in the second half of the year? A: There has been no significant pre-buying due to tariffs. Husqvarna expects a net negative impact of SEK100 million from tariffs in the second half of the year, despite mitigation efforts such as price increases and supply chain adjustments. Q: What factors contributed to the 4% sales decline in the construction division, and how did different regions perform? A: The sales decline in the construction division was primarily due to weak performance in North America, partially offset by stable growth in Europe and other regions. Q: At what point does it make sense to start producing robotic mowers locally in North America? A: While Husqvarna is pleased with the growth of its robotics business in North America, significant volume increases would be needed before considering local production. Current production in Europe is beneficial due to tariff considerations. Q: How does Husqvarna view the profitability of its robotics segment, particularly in the entry-level category? A: The robotics segment is margin accretive in the mid, premium, and professional categories but faces profitability challenges in the entry-level segment due to aggressive pricing competition. For the complete transcript of the earnings call, please refer to the full earnings call transcript. This article first appeared on GuruFocus.
