Investment AB Latour 2026Q2业绩及Nordlab集团业绩电话会议纪要

发布时间：2026-08-19 一、AI总结内容 一、核心要点 1. Investment AB Latour 2026年第二季度表现强劲，订单量有机增长13%，净销售额增长4%，调整后运营利润9.99亿瑞典克朗，运营利润率13.8%，订单储备超80亿瑞典克朗，为后续增长奠定基础。 2. 公司在2026年5月部分处置Casa Abloy和Secutus股权，仍为两家公司最大股东，所得资金用于支持全资业务扩张，二季度完成5笔收购，全年年化新增销售额7亿瑞典克朗。 3. Nordlab集团作为核心全资子公司，业务覆盖全球95%市场，聚焦高端工业应用，2009年以来有机平均增长13%，2026年二季度有机增长12.6%，专注安全关键领域，拒绝成为大宗商品供应商。 二、业务板块表现 1. 全资子公司Calium：订单量同比翻倍，有机净销售额增长3%，美国相关关税调整影响利润，收购美国Wyko公司提升服务能力。 2. 全资子公司Swegon：订单量有机增长14%，净销售额有机增长6%，北美和建筑自动化业务表现强劲，英国收购Sea Things增强能源计量布局。 3. 全资子公司Svenska：有机净销售额增长4%，个人防护装备板块增长6%，2025年美国关税返还贡献利润，硬件板块面临挑战。 三、区域与市场分析 1. 全球市场方面，亚太地区为Nordlab核心增长区域，占相关市场超50%，公司在巴西设点，计划拓展东南亚市场，中国市场本地化布局应对政策风险。 2. 建筑行业中，数据中心相关建筑需求旺盛，住宅建筑在欧美多数市场表现低迷，公司商业与建筑基础设施业务占比最大，西雅图业务受益于数据中心项目，抵消部分住宅领域疲软。四、战略与未来规划 1. 资金部署方面，处置部分上市持股的资金将按原有或稍快节奏投入全资业务，支持有机增长与并购，聚焦长期可持续价值创造。 2. 战略方向上，Nordlab深耕高端安全关键应用，提供全生命周期服务，包括预设计、测试验证、生产供应，构建竞争壁垒，同时完善全球渠道布局，定制化品牌推广。五、风险与关注点 1. 项目延期影响短期销售，仅为季度间推迟，未丢失订单，订单到销售平均延迟60-90天，是订单与销售数据差异的主要原因。 2. 全球地缘政治、贸易不确定性导致市场波动，中东业务敞口低影响小，中国本地化与区域化带来一定运营挑战。 二、音频原文（转写） Sure, development depends, and depends is of course not only weapon and ecosystem, but it's alsoa lot of buildings and roads and things to be c onstructed. You see a segment that's data centers with extremely high growth in that area, so it's I think it's important to look at the building industry in its different segments. And then you have segments like residential building. I would argue strongly that it's a very. Very subdued in most markets, both in the US and in Europe.So there we have some examples of doing strongexpanding segments, but also an example of a subdued segment in the residential construction area. All right, I appreciate the clarity there. Iwanted to ask on the Seattle notes. I'm not sureexactly how to look at this. You mentioned it'sbenefiting from data center and industry related. projects here is worked over. I mean, can wegive this as this now been sort of enough to offset any So remaining weakness. In the commercialand residential. CONSTRUCTION AREAS Yes, Derek.I think you can. I'm going to remember. Switzerland is exposed to the residential sadness, thebest of small part. of the same business that the absolute lion share of the same business is on. business to business to commercial, to buildings and infrastructure. ありがとう。 So I would say the short answer is yes to request. 嗯。Okay。Great. and and um finally. after thissale down here in El San upload and security ofI mean, can you say something about how quicklyyou expect to deploy this additional financial flexibility into the wholly owned industrial operations. No, but over time we will deploy that inthe whole industrial operations, but I think wecan expect the same pace as we have had and maybe somewhat increased pace, but it's also a wayto ensure that we long term can follow and support and provide capital to our whole oil businesses when they expand both organically but also inorganically via M&A going forward. It's kind ofa long term action that we've taken to be able to support these very fine businesses that we bel ieve are looking, and I think has throughout theyears to create a lower value. We expect to continue to do that. So it's just assured us that we can do this over a long period of time going forward. Okay, perfect. Those are all my questions. Thank you, Derek. Great. There's no more questions there. Any written questions, Mr. No, we do not have any written questions there. So good.Then we are done with the Q and A session thenon the overall report and then to the highlightsof this presentation I'd like to introduce again then on the best side CEO of Nordlab Group togive us an overview of Nordlab. And as I said before, after Daniel's presentation, we will havea Q and A and meet Gail I and Daniel together with all of you. So by saying that, I hand over toyou, Daniel. Please, you have the floor. Thankyou, you're welcome. So my name is Daniel Westbrook, I'm the CEO of the Nordva Group, as you have said. And my ambition here are we'll try to give you an overview of how we work to create bothshareholder value and customer value at the Nordva Group. Also by the end of. on my on my presentation here. You should understand what's behind our tagline, gain connections that lost. So without this, we can move to the next slide. 嗯。 嗯。The group is a truly global group today. And you see on the map here, we've got. presence in in most industrial companies. and ninety five percent of our sales are outside of Sweden today, although the origin is very Swedish. And being global, it's It's one of the things that makes. nolooking good. We're able to serve our customersglobally wherever they are and follow them around the world. 呃。 It's also a good way to sense our competition. We meet them earlier and make sure we're better than competitors in every part of the world. Butit is also good in terms of tariffs, high transp ort costs. Scarcity fluctuations. and also not yet from a sustainability aspect try to minimize.areas the main driver b