Fluidra SA Q1 2023 Earnings Call Transcript

The following is excerpted from the question-and-answer section of the transcript.

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : Can you hear me?

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : My first question probably is on pricing, which my way of seeing it has been supportive in the current destocking process. So can you explain a little bit the dynamics? You're seeing pricing-wise ease a few pricing effect, there has been positive mix or different dynamics by region.

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : Correct.

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : And is there any meaningful difference between Europe and the U.S.?

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : Okay. And then moving to the working capital issue, it looks like the adjustment on the inventory level in Italy will be slower than initially expected. However, you are keeping the guidance in terms of working capital over sales on a full year basis. This is a combination that this is still too early on the year or because of the way mathematicals work in the sense that slowdown in the inventory correction might be offset by higher top line. So at the end, in percentage cadence, the percentage is more or less the same.

Question: Manuel Lorente - Mirabaud Securities Limited, Research Division - Analyst : Correct.