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: Adela Dashian - Jefferies - Analyst
: A few questions from me. If we start off with the sales development in Western Europe and maybe specifically the German market, you mentioned
here that it's still struggling. Can you remind us of what your sales exposure to that country is today? And then also this week earlier, there was a
big infrastructure fund announced. I'm sure you've seen that, with the particular focus on projects such as hospitals, transportation, and so on.
Could that be something that will fuel demand for your products in the coming quarters or maybe midterm?
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MARCH 06, 2025 / 8:00AM, SYSR.ST - Q3 2025 Systemair AB Earnings Call
Question: Adela Dashian - Jefferies - Analyst
: Okay, makes sense. And then if we switch to the US, you mentioned here the transition to the energy-efficient refrigerants. Could you see any type
of price increases that could come as a result of this in the more short term?
Question: Adela Dashian - Jefferies - Analyst
: And then you also mentioned here that you are somewhat reliant on Canada for the US market. Can you be more specific in what types of measures
you've already initiated on to offset maybe some of the tariff implications?
Question: Adela Dashian - Jefferies - Analyst
: And you have enough capacity in your US factory to produce?
Question: Adela Dashian - Jefferies - Analyst
: Okay. Then just lastly, and I'm sorry if you -- maybe you went into more depth about this in the presentation, but the selling and administrative
expenses was quite elevated in the quarter. What drove that?
Question: Adela Dashian - Jefferies - Analyst
: And you feel comfortable with this level even if organic growth accelerates further?
Question: Anna Widstr÷m - Carnegie - Analyst
: So maybe if you can talk a bit about the Menerga situation, so both on how the ordering and delivery situation is from the new site today and
maybe some updates on your expectations on cost savings ahead.
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MARCH 06, 2025 / 8:00AM, SYSR.ST - Q3 2025 Systemair AB Earnings Call
Question: Anna Widstr÷m - Carnegie - Analyst
: Okay. Great. And just on these annual savings, should we expect it to be sort of a ramp-up during the year? Or should we see a similar effect in Q1
as in Q4?
Question: Anna Widstr÷m - Carnegie - Analyst
: Okay. And my last question is on the demand situation in the Nordics because it's now two quarters in a row that you've reported solid organic
growth. Is there any specific sectors that have showed relative strength or weakness? And what sort of positive signs have you seen for the market
going forward?
Question: Lina Blume - Handelsbanken Capital Markets - Analyst
: Maybe a bit of a follow-up on the last question. Maybe you confirmed it a bit there, but would you say that you are now generally more positive
regarding outlook for the Nordics than you have been in the previous quarters?
Question: Lina Blume - Handelsbanken Capital Markets - Analyst
: Okay. Perfect. And then just one other question for me. You mentioned expectations of higher M&A activity. What should we expect when it comes
to M&A, let's say, in the coming year?
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