engcon AB (publ) (ENGCON_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and warm welcome to ENKON's presentation for the first quarter of 2025. Thanks for joining us today. I'm Christer Blomgren, CEO at ENKON, and with me today is our CFO, Markus Asplund. We're excited to share some highlights and key numbers from our Q1 report. And after that, we'll jump into a Q&A where you can fire away with your questions. We're really happy to say that we are kicked off the year with a strong order intake, mainly driven by growing demand in the Nordics as everyone gears up for the upcoming digging season. Order intake was up by 28% and as I mentioned earlier, a big part of that comes from the strong momentum in the Nordics. Net sales for the quarter also grew nicely with a 14% increase compared to last year. And Europe continues to be a real bright spot for us. The awareness around tilt rotators just keeps growing. And Bauma made that crystal clear. Tilt rotators were everywhere at Bauma. Every major excavator manufacturer had machines equipped with tilt rotators on display. It's clear that tilt rotators have truly arrived in Europe. They are not just a new idea anymore. They are becoming the standard. There's a really strong momentum in the European market right now. Our operating profit increased by an impressive 40%, with some offset from the strengthening of the Swedish Krona. And we also had some good news on the legal side. The Swedish Patent and Market Court of Appeal upheld the earlier ruling in the patent case with Road to Tilt. Their claim was dismissed again, and the court confirmed that no patent infringement had occurred. Since the ruling can't be appealed, the matter is now fully settled in Sweden. But just to clarify, Rototill still retains their patent. It just wasn't infringed by us. If you take a look at some of the key numbe...