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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Purmo Group
Purmo Group (PURMO) investor relations material
Purmo Group has been delisted
Purmo Group Q3 2024 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2024 earnings summary22 Oct, 2024
Executive summary
Net sales decreased by 2% to EUR 173.3 million in Q3 2024 and by 6% to EUR 532.7 million for January–September 2024 year-over-year.
Adjusted EBITDA declined by 9% to EUR 21.3 million in Q3 and by 6% to EUR 66.6 million for the nine-month period.
EBIT fell to EUR 5.3 million in Q3 (from EUR 11.2 million) and to EUR 29.1 million for the nine months (from EUR 35.2 million), impacted by comparability adjustments.
Project Grand Bidco (UK) Limited completed a public tender offer, acquiring over 98% of shares by August 2024.
Acquisition of Unitherm Heating Systems Ltd completed after the review period, supporting the solution selling strategy.
Financial highlights
Q3 2024 net sales: EUR 173.3 million (-2% year-over-year); nine months: EUR 532.7 million (-6%).
Adjusted EBITDA margin in Q3: 12.3% (down from 13.3%); nine months: 12.5% (unchanged year-over-year).
Profit for Q3: EUR -5.2 million (down from EUR 4.5 million); nine months: EUR 3.5 million (down from EUR 14.1 million).
Cash flow from operating activities: EUR -12.6 million in Q3 (EUR 1.1 million prior year); EUR -2.2 million for nine months (EUR 7.9 million prior year).
Net debt at period end: EUR 262.4 million; net debt/adjusted EBITDA: 2.99.
Outlook and guidance
Adjusted EBITDA for 2024 expected to be at or above 2023 level (EUR 92.3 million).
Market activity expected to gradually improve as wholesaler stock levels stabilize and interest rates decline.
Accelerate PG programme on track to deliver EUR 50 million cumulative adjusted EBITDA run-rate improvements by year-end.
Geopolitical risks and high uncertainties may impact core markets.
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Frequently asked questions
Purmo Group Oyj is a global provider of sustainable indoor climate solutions, focusing on heating and cooling systems. The company's product portfolio includes radiators, underfloor heating systems, ventilation systems, and heat pumps, serving residential, commercial, and industrial buildings. Purmo Group caters to a wide range of sectors, offering energy-efficient solutions designed to optimize indoor comfort and sustainability. Its offerings are aimed at meeting the growing demand for environmentally friendly and resource-efficient climate control solutions in various geographical regions. The company is headquartered in Helsinki, Finland, and its shares are listed on the Helsinki Stock Exchange.