Envipco Holding N.V. (ENVHF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.641 Okay, good morning, everyone. It gives me great pleasure to welcome you to 00:00:05.641 -- 00:00:09.748 the Q1 2025 results presentation of Invipco. 00:00:09.748 -- 00:00:15.538 My name is Simon Bolton, CEO of Invipco, and I'm joined by my colleague, Michael Clement, 00:00:15.538 -- 00:00:20.647 Chief Strategy and IR Officer, to run you through the highlights of the quarter 00:00:20.647 -- 00:00:24.710 this morning, followed by a Q&A. 00:00:26.609 -- 00:00:29.374 Highlights for Q1. 00:00:29.374 -- 00:00:35.305 Following a record end to 2024, and as anticipated, as 00:00:35.305 -- 00:00:40.254 mentioned last quarter, somewhat slower start to 2025. 00:00:40.254 -- 00:00:43.941 Group revenues, 21 million, 23% 00:00:43.941 -- 00:00:48.629 down year on year. Gross margins 00:00:48.629 -- 00:00:52.136 continue to develop well. 00:00:52.136 -- 00:00:57.325 We've had, obviously, a target of 40%, getting to 40% gross margins, 00:00:57.325 -- 00:01:01.432 and we continue on that journey with really good 00:01:01.432 -- 00:01:06.822 productivity and also cost efficiency in addition to 00:01:06.822 -- 00:01:11.892 good work on the commercial side. Overall EBITDA with costs 00:01:11.892 -- 00:01:14.778 under control this quarter at half a million. 00:01:14.778 -- 00:01:18.927 And then the cash balance, which Michael will go through in a little bit more detail 00:01:18.927 -- 00:01:24.976 later, ending the quarter at just over 20 million. 00:01:25.925 -- 00:01:30.694 We continue to strengthen our business. I think for those who follow the business for 00:01:30.694 -- 00:01:36.164 some time, you know that we're positioned in this space, 00:01:36.164 -- 00:01:41.394 really unprecedented market opportunity ahead of us, driven by 00:01:41.394 -- 00:...