Ferronordic AB (publ) (FNM) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.498 Good morning, everybody. Thank you for your interest in Fair Nordic and welcome to our 00:00:04.498 -- 00:00:08.822 presentation of the first quarter of 2026. 00:00:08.905 -- 00:00:14.173 Moving to slide two, summarizing the quarter. 00:00:14.173 -- 00:00:17.776 We saw revenue amounting to 1.128 00:00:18.060 -- 00:00:23.168 million Swedish krona, down 6% year-on-year, but up 6% 00:00:23.168 -- 00:00:25.563 in fixed currency. 00:00:25.563 -- 00:00:28.466 Gross margin improved to 17.7% 00:00:28.466 -- 00:00:33.512 compared to 16.3% last year. Operating profit more than 00:00:33.512 -- 00:00:40.418 doubled to 37 million kronor. EBITDA increased 49% to 124 00:00:40.480 -- 00:00:45.686 million and net profit improved to 32 million kronor supported 00:00:45.686 -- 00:00:47.448 by 00:00:47.448 -- 00:00:51.213 currency exchange gain and lower finance costs. 00:00:51.213 -- 00:00:55.463 Net debt at the end of the quarter amounted to 1.957 00:00:55.463 -- 00:00:58.008 million Swedish krona 00:00:58.008 -- 00:01:03.220 up versus last year related to the integration of the house business 00:01:03.220 -- 00:01:05.425 that was acquired in 00:01:05.425 -- 00:01:11.414 January and seasonal inventory and rental fleet buildup. 00:01:14.180 -- 00:01:18.366 Looking at the operations and the quarter from 00:01:18.366 -- 00:01:20.666 a group perspective, 00:01:20.910 -- 00:01:22.973 we saw clearly 00:01:22.973 -- 00:01:28.120 stronger earnings during the quarter compared to last year and continued progress. 00:01:28.120 -- 00:01:33.328 Activity was fairly good and improved through the quarter and then 00:01:33.328 -- 00:01:37.282 accelerated in March with good trajectory. 00:01:37.282 -- 00:01:38.683 Our 00:01:38.683 -- 00:01:43.728 efforts to increase ...