BTS Group AB (OTCPK:BGPBF)

$ 28.25 0 (0%) Market Cap: 536.87 Mil Enterprise Value: 529.68 Mil PE Ratio: 23.18 PB Ratio: 4.03 GF Score: 93/100

Q2 2024 BTS Group AB Earnings Call Transcript

Aug 15, 2024 / 06:00AM GMT

Release Date Price: $28.25

Transcript

Jessica Skon

BTS Group AB - President & CEO

Hello, dear BTS investors. I'm Jessica Skon, CEO of BTS Group. Welcome to our Q2 report. Hope you're all having a lovely summer. I am joining you from San Francisco for this report. And we'll start with the good news, for basically 80% of our business, our two biggest markets, BTS North America and BTS Other markets, grew by 12% in North America and 8% other markets. And together we had an increase in combined EBITDA of 23%.

Now if we look at the group level, our sales only grew 3%. And our EBITDA improved 4% to SEK110 million. The reason for this is because BTS Europe had a tough quarter. Their revenue shrunk by 23%. So despite the poor showing of BTS Europe in terms of their revenue performance, BTS margins continued to remain solid at 15.1%. And our profit after tax remained stable.

So let's dive into a little bit more detail. We're going to start with our biggest unit, which in the second quarter was also the fastest-growing unit, and that's BTS North America. So we're very happy that we've had two quarters in a row of back to double

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