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

Investor webinar replay

Replay transcript excerpt

Good morning, everybody. Thank you for your interest in Fair Nordic and welcome to our presentation of the first quarter of 2026. Moving to slide two, summarizing the quarter. We saw revenue amounting to 1.128 million Swedish krona, down 6% year-on-year, but up 6% in fixed currency. Gross margin improved to 17.7% compared to 16.3% last year. Operating profit more than doubled to 37 million kronor. EBITDA increased 49% to 124 million and net profit improved to 32 million kronor supported by currency exchange gain and lower finance costs. Net debt at the end of the quarter amounted to 1.957 million Swedish krona up versus last year related to the integration of the house business that was acquired in January and seasonal inventory and rental fleet buildup. Looking at the operations and the quarter from a group perspective, we saw clearly stronger earnings during the quarter compared to last year and continued progress. Activity was fairly good and improved through the quarter and then accelerated in March with good trajectory. Our efforts to increase or improve the aftermarket business and work with operational improvements and broader use of technology and data across the group are starting to show. At the same time, we see significant untapped potential within our existing operations and our existing geographies. And continuing these improvements will be the focus going forward. At the same time, we do evaluate selective Bolton acquisitions. Revenue, I said, was down in Swedish krona 6% to 1.128 million krona. But in fixed currency, it was up 6%, mainly then reflecting the weakening of the dollar year on year. Operating profit more than doubled, I said, to 37 million, supported by continuously strong performance in the United States, positive operating earnings from ...