Ferronordic AB (publ) (FNM) Q1 2025 Earnings Call

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WEBVTT 00:00:01.735 -- 00:00:07.205 Thank you. This is Lars Corneliusson here and welcome to the 00:00:07.205 -- 00:00:14.017 report on our first quarter of 2025. And if we can press... 00:00:14.017 -- 00:00:16.198 Oh, sorry. 00:00:17.724 -- 00:00:22.913 And we call the report Steady Despite Uncertainty and obviously 00:00:22.913 -- 00:00:27.978 there are There is increased uncertainty in our markets 00:00:27.978 -- 00:00:31.363 and in our industry. We will obviously come back to that. 00:00:31.363 -- 00:00:33.807 And despite that uncertainty, 00:00:33.807 -- 00:00:36.968 our revenue actually increased 00:00:37.011 -- 00:00:39.412 by 3% to 1.2 00:00:40.095 -- 00:00:42.320 billion Swedish kronor. 00:00:42.320 -- 00:00:47.750 However, we saw a decline in gross profits and that was partly due to revenue 00:00:47.750 -- 00:00:50.255 and product mix. 00:00:50.255 -- 00:00:52.255 And 00:00:53.401 -- 00:00:57.794 selling and administrative costs came down. 00:00:57.794 -- 00:01:04.440 And that was partly thanks to cost reduction that we have entered upon and 00:01:04.784 -- 00:01:07.387 lower sales commissions. 00:01:07.387 -- 00:01:12.454 So we had an operating results which decreased to 13 million, 00:01:12.454 -- 00:01:16.260 which was mainly a result of the lower gross margin. 00:01:16.260 -- 00:01:20.245 We also had net debt that decreased to 1.8 00:01:20.245 -- 00:01:22.245 billion. 00:01:23.890 -- 00:01:26.852 If we go to the next slide, 00:01:27.612 -- 00:01:32.869 clearly there is an uncertainty on the tariffs and the fiscal policy in the 00:01:32.869 -- 00:01:38.306 US, which obviously is also then in itself spreading over to Germany to 00:01:38.306 -- 00:01:40.370 an already weak 00:01:40.370 -- 00:01:43.234 market in Germany. 00:01:43.234 -- 00:01:47.179 We shou...