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: Claus Almer - Nordea - Analyst
: Yes. A few questions from my side. The first is Jens, the comment you made in the start of your presentation, you have introduced profit protecting
initiatives in all divisions. What does that actually mean?
Question: Claus Almer - Nordea - Analyst
: So maybe we could drill a bit down. So does that mean you will start reducing FTEs? You put travel marketing stops. So what -- or is it more a plan
that can be started if you see things worsen?
Question: Claus Almer - Nordea - Analyst
: And you've become more concerned compared 2Q -- after Q1, where you didn't mention this?
Question: Claus Almer - Nordea - Analyst
: It's always good to be well prepared, if things should be deteriorating. My second question is GPV. You mentioned that contribution margin
improved but EBITDA is down. And I know revenue was down.
So does that mean you are unable to adjust your fixed cost base to a lower activity level? And is that possible in the coming quarters? Or you need
the scale to maintain your profitability?
Question: Claus Almer - Nordea - Analyst
: Okay. And then I don't want to disappoint you, Jens. So I will ask an open question. What do you think about your development in net working
capital?
Question: Claus Almer - Nordea - Analyst
: Jens, Just a follow-up -- or were you just ignoring me?
Question: Claus Almer - Nordea - Analyst
: I was also a bit late to raise my hand again. So GPV yes. Now you are saying that your customer exposure is not great in a downturn. But as I recall
in past calls, you have also mentioned a large number of your clients are more less cyclical exposed. So it's a little bit confused now. That would be
the first question.
Question: Claus Almer - Nordea - Analyst
: So if we are looking into a more difficult macro situation, would that be an opportunity for GPV from an M&A point of view. So are you looking into
the bank? How much money do you have to spend? Is there more incoming calls, et cetera, et cetera?
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AUGUST 15, 2024 / 1:30PM, SCHO.CO - Q2 2024 Schouw & Co A/S Earnings Call
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