Ependion AB (EPEN) Q1 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.258 Thank you. Hi everyone and welcome to the Q1 update 00:00:05.258 -- 00:00:08.022 for Ependion. 00:00:08.022 -- 00:00:13.350 As usual it is myself and Joakim Laurén hosting 00:00:13.350 -- 00:00:18.357 the call. Myself being in Västerås today and Joakim is in 00:00:18.357 -- 00:00:20.339 Malmö. 00:00:20.339 -- 00:00:24.205 So the agenda is almost as usual with one exception. 00:00:24.205 -- 00:00:29.681 We are going to share a few say a few words on the recent acquisition 00:00:29.681 -- 00:00:33.615 of Velotech. Apart from that, the agenda looks 00:00:33.615 -- 00:00:36.194 like it usually does. 00:00:36.194 -- 00:00:41.541 So, let's move into business update for the quarter then, in general. 00:00:41.541 -- 00:00:45.787 Well, it was an eventful first quarter for Ependion. 00:00:45.787 -- 00:00:48.531 Lots of activities 00:00:48.531 -- 00:00:50.531 and 00:00:50.995 -- 00:00:56.342 progressive investments in combination with a cost-saving program, 00:00:56.342 -- 00:01:01.838 as you have probably seen. The highlight for the quarter was that order intake 00:01:01.838 -- 00:01:06.904 increased by 5% and both business entities contributed to this. 00:01:06.904 -- 00:01:12.389 Vestimo with 2% and Bayer Electronics with 8%. 00:01:13.533 -- 00:01:17.856 Sales, however, came in lower than last year, 00:01:18.139 -- 00:01:23.385 driven by both business entities. It could be important to remember 00:01:23.385 -- 00:01:28.531 that Vestamo in particular had a very strong comparison quarter in 2024 due 00:01:28.531 -- 00:01:34.616 to some catching up effects from the components crisis in 2023. 00:01:35.098 -- 00:01:40.084 We have implemented the cost saving program in the Bayer Electronics business entity. 00:01:40.084 -- 00:01:45.390 We are of...