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: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: It's Carl here from Nordea. A couple of questions. Firstly, I wonder if you could give any flavor on the order intake development during the quarter.
I guess it's relevant maybe to give some flavor on both the pace in volume as well as pricing terms. And also finally, on orders, if you could give
flavor on the development a little bit per region. Obviously, state that what happened during the quarter, but it would be interesting to hear about
the sort of order dynamic.
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Yes. And what would you say is the organic sort of growth in the order intake during the quarter if you exclude sort of pricing as well?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Yes, exactly, exactly.
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Sorry. What is 4% down? Sorry.
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Including prices, right?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. Very good. And also a little bit on the Nordics. You said that it is partly due to weakening market. Would you say that we in the quarter, see
the full effect of sort of -- I mean, the soft new construction resi market, especially in Norway, I guess? Or will it accelerate due to lagging completions
in any way? Or how should we see that development, do you think?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. That is good. And some of the companies or several other companies in sort of the (inaudible) AC industry is coupling a little bit about the
inventory levels at the distributors that they are lowering the inventory levels. I know that you are not working to a massive extent with distributors,
but I guess, to some extent, in part in North America. Could you say what is happening there from a distribution point of view? And where are the
inventory levels currently?
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. So a fairly limited extent, you would say.
Question: Carl Ragnerstam - Nordea Markets, Research Division - Analyst
: Okay. That's very good. And also, one finally, I think you took a little bit of a write-down in Menerga in the quarter. Is it due to the production move?
Or is it anything else we should note about the development there?
Question: Douglas Lindahl - DNB Markets, Research Division - Analyst
: Congrats to a strong report. Actually, most of my questions -- both of my questions are on pricing. So first off, I wanted to firstly understand the
portion of organic or volume growth and price growth in the organic side for sales. I appreciate the comment on the order intake, but can you give
it for sales in this quarter? And also you mentioned that you are raising prices or are planning to raise prices. Can you give some comments on the
logic behind that and roughly by how much you're planning to raise prices?
Question: Douglas Lindahl - DNB Markets, Research Division - Analyst
: Fairly neutral on the group level then it seems, if you average it out.
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AUGUST 31, 2023 / 11:30AM, SYSR.ST - Q1 2024 Systemair AB Earnings Call
Question: Douglas Lindahl - DNB Markets, Research Division - Analyst
: Okay. The same as your order intake, basically. And just a clarification, the future price adjustments. Are those being incorporated as we speak? Or
is there a certain date to when this will be through the system?
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