Enea AB (publ) (ENEA) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you and good morning to everyone. This is Temo Salmi, CEO of Enea speaking here today to take us through the Q4 result in the next coming 30 to 45 minutes. Our agenda will be very much similar to the previous reports that we have made. We will have a short introduction of some highlights in quarter four and then we will deep dive deeper into our financial results and we will also end up with a way forward and outlook for the year and the years to come. So let's get going with a bit of market and business development highlights from the quarter. Of course, I think we all see what's happening on the geopolitical scene and that the tensions and the development there are driving the demand for secure and controlled national communication solutions. And we see also a more nationalistic approach in sovereignty and when it comes to handling data. which is actually playing us well into our hands in Enea. Our solutions is definitely supporting nations, states and other governmental institutes, as well as telco operators to up their security posture. We have had a tough year in 2025 with the FX. Swedish krona has strengthened almost 20% towards the US dollar in the last 12 months. And it's... 15 years since that happened last time in 2010. So it's nothing that happens every day. Obviously, having a majority of our net sales in US dollars, it impacts our reported results, which we will come back to later on in the presentation today. However, our underlying market development remains positive, and we actually have also good pipe for the future in building. If we look at the business side, like I said, our underlying business development remains positive across both our focus area security and networks and in constant currency. Both of them are actually growing in the quar...