Latest news with #SEK
Yahoo
10 hours 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
2 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
2 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.
Fashion Network
3 days ago
- Business
- Fashion Network
H&M Group's Linda Leopold steps down as head of AI strategy after seven years
Linda Leopold exits H&M Group after seven years leading its AI strategy, including its Responsible AI program. She now focuses on consulting, writing, and speaking on the ethical implications of AI in tech, fashion, and beyond. H&M Group, the Swedish fashion giant known for its global retail footprint and tech-forward initiatives, has announced the departure of Linda Leopold, who served as Head of AI Strategy. After seven years in strategic leadership roles, Leopold is stepping down to focus on consulting, writing, and speaking engagements centered on artificial intelligence and its ethical development across industries. Leopold joined H&M Group in 2018 and held several key roles within the company's growing AI division. As Head of AI Policy, she played a critical role in launching and expanding the brand's Responsible AI program. Under her guidance, H&M Group established frameworks for digital ethics and adopted strategic approaches to implementing generative AI technologies. 'These years were extraordinary—not only because I had the opportunity to help shape H&M's AI direction, but also because I witnessed AI evolve at lightning speed,' Leopold wrote on LinkedIn. 'I'm particularly proud of building the Responsible AI program from the ground up and contributing to the global conversation on ethical AI.' Her leadership earned international recognition. In 2022, Forbes named her one of the world's nine most influential women in AI. Before her time at H&M Group, Leopold worked as an innovation strategist bridging fashion and technology and also served as editor-in-chief of the Scandinavian fashion and culture magazine Bon. 'Now it's time for the next chapter,' she added. 'With AI at such a pivotal point, I want to help guide its development across different industries and organizations.' Leopold's exit comes as H&M Group continues its push into digital innovation. Earlier this month, the brand launched a new denim capsule collection powered by digital twin technology —part of a larger strategy to integrate generative AI into storytelling and customer engagement. According to Chief Creative Officer Jörgen Andersson, the goal is to create emotional connections with consumers without diluting brand identity. The first drop debuted on July 2 via H&M's global online store, with more launches planned this fall. While investing in new technologies, H&M Group also faces mounting economic pressures. The company reported a 5% year-over-year decline in net sales for the second quarter, falling to SEK 56.7 billion. However, operating profit rose slightly to SEK 5.9 billion—beating analyst forecasts. The group also improved inventory management, though deeper price cuts are expected in the third quarter as customers become more cautious with spending. 'We're seeing greater price sensitivity among customers due to ongoing uncertainty,' Group CEO Daniel Erver said during the latest earnings call.
Fashion Network
3 days ago
- Business
- Fashion Network
H&M Group's Linda Leopold steps down as head of AI strategy after seven years
Linda Leopold exits H&M Group after seven years leading its AI strategy, including its Responsible AI programme. She now focuses on consulting, writing, and speaking on the ethical implications of AI in tech, fashion, and beyond. H&M Group, the Swedish fashion giant known for its global retail footprint and tech-forward initiatives, has announced the departure of Linda Leopold, who served as Head of AI Strategy. After seven years in strategic leadership roles, Leopold is stepping down to focus on consulting, writing, and speaking engagements centred on artificial intelligence and its ethical development across industries. Leopold joined H&M Group in 2018 and held several key roles within the company's growing AI division. As Head of AI Policy, she played a critical role in launching and expanding the brand's Responsible AI programme. Under her guidance, H&M Group established frameworks for digital ethics and adopted strategic approaches to implementing generative AI technologies. 'These years were extraordinary—not only because I had the opportunity to help shape H&M's AI direction, but also because I witnessed AI evolve at lightning speed,' Leopold wrote on LinkedIn. 'I'm particularly proud of building the Responsible AI programme from the ground up and contributing to the global conversation on ethical AI.' Her leadership earned international recognition. In 2022, Forbes named her one of the world's nine most influential women in AI. Before her time at H&M Group, Leopold worked as an innovation strategist bridging fashion and technology and also served as editor-in-chief of the Scandinavian fashion and culture magazine Bon. 'Now it's time for the next chapter,' she added. 'With AI at such a pivotal point, I want to help guide its development across different industries and organisations.' Leopold's exit comes as H&M Group continues its push into digital innovation. Earlier this month, the brand launched a new denim capsule collection powered by digital twin technology —part of a larger strategy to integrate generative AI into storytelling and customer engagement. According to Chief Creative Officer Jörgen Andersson, the goal is to create emotional connections with consumers without diluting brand identity. The first drop debuted on 2 July via H&M's global online store, with more launches planned this fall. While investing in new technologies, H&M Group also faces mounting economic pressures. The company reported a 5% year-over-year decline in net sales for the second quarter, falling to SEK 56.7 billion. However, operating profit rose slightly to SEK 5.9 billion—beating analyst forecasts. The group also improved inventory management, though deeper price cuts are expected in the third quarter as customers become more cautious with spending. 'We're seeing greater price sensitivity among customers due to ongoing uncertainty,' Group CEO Daniel Erver said during the latest earnings call.
