May 16, 2024 / 07:30AM GMT
Torben Paulin - TCM Group A/S-Chief Executive Officer - Member of the Executive Management Board
Good morning, ladies and gentlemen, and welcome to the presentation of the Q1 results for TCM Group presented us today our CFO, Thomas Young, and myself, CEO, Torben polling. 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 the first quarter were developed in line with our expectations that improved order intake from the B2C market in Denmark. Whereas, B2B sales, as expected, contracted primarily within project sales and housebuilders revenue increased by 11% in the quarter due to the inclusion of albuterol. However, with an organic decline of 12% on a like-for-like basis, order intake in Denmark was up 3% compared to Q1 last year would be to see order intake growing by more than 10%. The improvement in gross margin compared to last year Q1 was driven by the changed sales mix and the inclusion of
Q1 2024 TCM Group A/S Earnings Call Transcript
May 17, 2024
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