Ependion AB (EPEN) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.402 Thank you very much and welcome everybody to Appendion's Q4 report 00:00:05.402 -- 00:00:06.805 presentation. 00:00:06.805 -- 00:00:12.537 So as usual it's Joakim and myself. We are down here in Malmö today 00:00:12.537 -- 00:00:16.305 and the agenda looks 00:00:16.305 -- 00:00:21.395 the same as usual. So I will start with giving an overall business update. 00:00:21.395 -- 00:00:27.251 Then Joakim will move into the financial performance more in detail and then I will 00:00:27.251 -- 00:00:32.907 take the concluding notes and outlook and after that we will open up for 00:00:32.907 -- 00:00:36.311 questions and answers. 00:00:36.397 -- 00:00:42.064 So, looking at this quarter, well, first of all, we see that 00:00:42.064 -- 00:00:47.211 the market environment is largely unchanged compared to previous 00:00:47.211 -- 00:00:50.395 quarters in 2025. The 00:00:50.395 -- 00:00:53.839 geopolitical uncertainty remains, 00:00:53.839 -- 00:00:59.005 so that we can conclude. Nevertheless, order intake increased 00:00:59.005 -- 00:01:01.608 in the quarter by 12% and 00:01:01.608 -- 00:01:06.614 adjusted for the Velotech acquisition and negative currency effects, the 00:01:06.614 -- 00:01:10.136 increase was 4%. Vestimo 00:01:10.338 -- 00:01:16.485 had a good quarter. If you remember, we had a weak quarter in the 00:01:16.485 -- 00:01:20.710 quarter three, driven by weak order intake from the train segment. 00:01:20.710 -- 00:01:25.775 a little bit similar to last year that order intake bounced back 00:01:25.775 -- 00:01:31.060 now in this quarter so that was good to see and as we have pointed out many times 00:01:31.060 -- 00:01:37.186 order intake especially from the train segment can vary a lot from quarter to quarter 00:01:37.186 -- 00:01:...