The following is excerpted from the question-and-answer section of the transcript.
(Questions from industry analysts are provided in full, but answers are omitted - download the transcript to see the full question-and-answer session)
Question: Christoph Greulich - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Yes, 4 questions from my side, please. And I would like to start with a follow-up on pricing. Could you give us an idea of the proportion of the Q1
sales, which have already reflected the October price hike? And maybe also on the magnitude of this new price hike that you are implementing in
the U.S. now.
Question: Christoph Greulich - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: That's clear. And maybe on the regional growth trends, it was quite interesting to see, especially in Southern Europe to be stronger than the North
America in terms of the organic growth. I mean it's quite different to what we've seen from some of your main peers' reported Q1 numbers. Yes,
but what do you see as the key reasons why you see a different growth from there compared to some of your competitors?
Question: Christoph Greulich - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Great. And then on the pool builder backlog, so as you were mentioning, that they remain very robust, they have good visibility there. Do you have
also any visibility on the current order intake of the pool builders? What is the intake trend at the moment?
Question: Christoph Greulich - Joh. Berenberg, Gossler & Co. KG, Research Division - Analyst
: Okay. Then last one from my side. Regarding the buybacks, can you provide us with any color on the potential size and timing of such a program?
Question: Luis de Toledo Heras - ODDO BHF Corporate & Markets, Research Division - Analyst
: Just a final question from my side. It's regarding the M&A pipeline. I think, Bruce, you referred to the focus on the European market. I don't know
if there's a change in strategy because you consider that you've reached your market share target in the U.S., or you see specific opportunities in
some regional markets or some segments.
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: My first question is on the Texas freeze impact over the Q1 numbers. If I have understanding properly, I believe that you just said that the impact
of the overall Texas freeze should be roughly EUR 30 million. I was wondering whether the vast majority of that has been already taking place in
Q1, or will you start some comps on Q2 as well?
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: And just a follow-up. I believe I have missed the number that you mentioned about the exact impact of the M&A on Q1 numbers.
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: Yes, Javier.
Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst
: Sure. And then just my final question, Q1 has been strong or even pretty strong and, however, you stick to the guidance, which probably is the
correct thing to do in the sense that we have just started the year. And the past of your profitability comes from the [position that we don't
understand] yet, right? But going into the pool season, what is the thing that worries you the most in terms of deliver? It's a matter of how builders
are going to react to further price hikes to supply chain constraints to labor market in the U.S., cancellations from backlog because of demand
erosion, a little bit of everything.
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