Alfa Laval Corporate AB (ALFA) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.299 Good morning and welcome to Alfa Laval's fourth quarter and full year 00:00:05.299 -- 00:00:09.001 earnings call for 2025. 00:00:09.044 -- 00:00:14.352 So Fredrik and I, we will give you a rundown presentation, a summary of the 00:00:14.352 -- 00:00:17.937 quarter and the year, and then we will go to the Q&A as always. 00:00:17.937 -- 00:00:24.463 So let me start with some introductory comments to the quarter and the year. 00:00:24.635 -- 00:00:29.727 In all, we felt it was a strong year in 2025, resulting in 00:00:29.727 -- 00:00:34.718 record invoicing and record earnings, with earnings per share for the first time climbing 00:00:34.718 -- 00:00:38.442 to 20 sec per share. 00:00:38.793 -- 00:00:43.841 The supply chain was strong, especially in the quarter, and we delivered a record invoicing 00:00:43.841 -- 00:00:47.567 of 19 billion SEC in the fourth quarter. 00:00:47.567 -- 00:00:52.675 With that said, we still need capacity additions that 00:00:52.675 -- 00:00:57.182 are required to support our customer base in the data center applications. 00:00:57.182 -- 00:01:02.450 And yesterday, the board of directors approved a targeted CapEx program of 1 00:01:02.450 -- 00:01:06.674 billion SEC for this purpose specifically. 00:01:07.126 -- 00:01:12.193 Then finally, during 2025, Alfa Laval has 00:01:12.193 -- 00:01:16.939 prepared for further growth by simplifying the operating model and consolidating the 00:01:16.939 -- 00:01:22.587 business unit structure. It is a substantial reorganization of the company. 00:01:22.587 -- 00:01:27.674 And as of January 1st, the new organization is operational after considerable 00:01:27.674 -- 00:01:30.598 efforts on many hands. 00:01:30.598 -- 00:01:35.813 And with that, let's move on to key figures...