Hexagon Composites Ord (HXGCF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.897 Welcome everyone to our Q1 trading update. 00:00:04.897 -- 00:00:10.504 This call replaces our regular call which was scheduled for next week 00:00:10.504 -- 00:00:15.651 to present you our Q numbers. Reason for that is that we have executed last 00:00:15.651 -- 00:00:21.398 night a successful private placement in the amount of 550 million Norwegian kroner. 00:00:21.398 -- 00:00:26.044 Eirik will touch on that in a moment slightly. 00:00:26.044 -- 00:00:31.620 I'm happy about an oversubscribed private placement And that shows great 00:00:31.620 -- 00:00:36.647 trust into Hexagon. Thank you, our investors, for this trust. 00:00:36.647 -- 00:00:41.774 This cap raise enables us to have a stronger balance 00:00:41.774 -- 00:00:46.902 sheet and improved financial flexibility. Financial flexibility 00:00:46.902 -- 00:00:52.109 due to a renegotiated finance agreement with our lending partners, which 00:00:52.109 -- 00:00:57.271 really substantially reduces the leverage risk and covenant risk which 00:00:57.271 -- 00:01:02.437 we had and some of you brought up multiple times during the course of the last 00:01:02.437 -- 00:01:07.484 year. But one aspect is asking for the fix of our 00:01:07.484 -- 00:01:12.210 balance sheet. The other is walking the talk and what is the management, the company 00:01:12.210 -- 00:01:17.016 doing. We have executed a significant 00:01:17.016 -- 00:01:22.102 restructuring over the last 12 months. And one testimony, one walk the talk 00:01:22.102 -- 00:01:25.102 is what Eric will show you. in the Q1 numbers. 00:01:25.102 -- 00:01:28.687 We have a leaner cost base and we have tightened cash discipline. 00:01:28.687 -- 00:01:33.093 This leads to a significant improved EBITDA break-even point. 00:01:33.093 -- 00:0...