Company Participants
Ulf Lilius - President & CEO
Niklas Enmark - Executive VP, Head of Acquisitions Group & CFO
Presentation
Ulf Lilius
President & CEO
Welcome to the presentation of Momentum Group's interim report. I'm Ulf Lilius, CEO of Momentum Group, and I'm here with my colleague, Niklas Enmark, Executive Vice President and CFO, and we will guide you through our report today.
Our agenda is to give you some information about the highlights from Q2 and the development during the quarter. We will round off with that going forward. Now to the highlights in the report.
Business conditions in the group's main Nordic market improved somewhat during the second quarter, although the market continued to be characterized by variations between customer segments and uneven activity levels. The group reported higher revenue, improved margins and increased earnings driven by positive development in both business areas. Acquisitions contributed to both revenue and earnings and our decentralized structure combined with a strong financial position provides a solid foundation for continued long-term and profitable growth.
Overall, the business conditions in our main Nordic market were somewhat more positive during the quarter. In particular, we noted an increased level of activity in Sweden. The improved market picture continued to show significant variation between customer segments. Service operations developed positively with higher utilization mainly driven by planned maintenance shutdowns and previously postponed service work carried out during the quarter.
Several businesses, particularly those with elements of project sales, faced the customer market characterized by caution, continued focus on cost control and restrained investment decisions. As a result, the Danish market continued to develop weakly. The slightly improved organic sales, combined with higher gross margins and continued strong focus on cost control and efficiency improvements contributed to higher earnings
