Published: Tuesday, April 23, 2024 · 1:00 AM | Updated: Tuesday, April 23, 2024 · 1:00 AM
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Apr 19, 2024 / 01:00PM GMT
Operator
Good day, and welcome to today’s Elanders AB conference call. (Operator Instructions)
At this time, I’d like to hand the call over to Mr. Magnus Nilsson, CEO. Please go ahead, sir.
Magnus Nilsson – Elanders AB – President, Chief Executive Officer, Member of the Board
Welcome everyone to Elander’s conference call and this is Magnus Nilsson speaking. And together with me, I also have our acting CFO, Elsa Wilson as well. We’ll now start with our presentation, and then we go directly to slide number five and talk about our first quarter. As expected, continuing the market to be very challenging in the first quarter and several of our customers show lower demand compared to the previous year, which resulted in a negative organic growth of 9% in the quarter and of this 9% negative organic growth the normalized shipping prices within Air & Sea was roughly 2%.
It was mainly customers exposed to end consumers that showed a downtrend compared to last year. And but our continued focus on lowering our working capital and improving our cash flow
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