Ependion AB (EPEN) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Appendian Q3 Report 2025 presentation. During the questions and answers session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now, I will hand the conference over to CEO Jenny Shadal and CFO Joachim Lorien. Please go ahead. Thank you very much and welcome to you all to this Q3 presentation. The heading for the report this time is Earnings Improvement and Continued Investments. And with me here in Malmö, I have Joakim Laurén. And the agenda looks the same as usual, almost with one exception. I will start with the general business update and then I will talk a little bit more about the minority investment that we presented this morning. And then Joakim will move into more details about our financial performance. And then I will finish with some concluding notes and outlook. And after that, we will open up for Q&A. So business update for the quarter. Well, the market is still characterized by uncertainty and caution. We don't see that the projects are disappearing, but we are still seeing that decision times are still quite long for most of our customers. So there is still a bit of a hesitation in the market. However, in the quarter, orders increased by 11%. If we adjust that for the Velotech acquisition and currency effects, The increase was 3%. Vestamo had a weak quarter once again. Also, we saw that same pattern in the third quarter of 2024. This is mainly due to less orders from the train segment, which we see is a bit of a holiday effect as most of our customers that order larger volumes are Europe-based in the train segment. Positive is that Bayer Electronics show a growth of 12%. And in particular, it's nice to see that the core offering, the HMI products, actually grew by 22% in terms of order intake. And th...