Aug 18, 2023 / 07:30AM GMT
Torben Paulin - TCM Group A/S-CEO
Good morning, ladies and gentlemen, and welcome to the presentation of Q2 results for TCM Group. Presenters today are our CFO, Thomas Hjannung, and myself, CEO, Torben Paulin. And we will comment on the business and the financial results, after which we will hand over to the operator for the Q&A session.
Let us start the presentation and turn to page 2 for the business update. Sales in Q2 were overall in line with our expectations with a year-on-year decrease of 19%. It should be recalled that Q2 '22 was the strongest quarter ever for the TCM Group in terms of revenue, hence a very strong comparable. B2C sales remained weak in the quarter, confirming that consumers remain cautious. Considering that sales only declined by 3.5% compared to Q1 and that the order intake in the B2B business remained stable in the quarter, we see signs of a potential recovery in the market.
The change in sales mix compared to Q2 last year had a negative impact on gross margin and reduced earnings. However, gross margin improved compared to
Q2 2023 TCM Group A/S Earnings Call Transcript
Mar 07, 2024
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