Alleima AB (publ) (ALLEI) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, and welcome to Alleima's presentation of the first quarter results 2026. My name is Frieda Adrian, and I am Head of Investor Relations. I'm joined by our President and CEO, Johann Bjorkmann and our CFO, Johan Eliksson. Joran and Johan will take you through the highlights of the quarter. And following the presentation, we will open up for Q and A session. You are welcome to ask questions via the conference call or submit your questions through the webcast interface. All the presentation materials are available for download at leima.com. And as always, safety is a top priority for us, and I trust that you are familiar with the safety procedures at your current location. And with that, over to you, Jadam. Thank you, Frieda. Hi, everyone, and thank you for listening. So I'll start with the highlights for the first quarter. While market uncertainty continued throughout the first quarter with the ongoing geopolitical instability reducing our customers' willingness to invest. We also have this situation in The Middle East that has impacted the market and in particular affecting our OCTG business. I will come back to that shortly. But these circumstances continue to impact our short cycle business, which began to experience a slowdown at roughly this time last year. On a positive note, key segments such as Medical and Industrial Heating have contributed favorably, supporting by a strong organic order intake. Look at the order intake for the group. Rolling twelve months declined 12% organically. Revenues declined 5% organically, also affected by the short cycle business and OCTG, somewhat mitigated by medical, nuclear and industrial heating. Adjusted EBIT amounted to $386,000,000 and a margin of 8.4%, down from 10.5% last year, but here diluted roughly 150 basis points...