Luotea Oyj (0F29) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Lascella and Tikhanoya January March twenty twenty six earnings release broadcast. My name is Eero Halbenemi, and today with me I have Jonas Sorsanen, our CFO. Today's agenda is as follows: first, we go through some highlights, both financial and operational highlights. Then we will take a look at the market environment in 1Q twenty six. Then we'll dive into the efficiency and operations, and then sustainability. Jone will go through the financial highlights, and then we'll wrap up with the outlook. And obviously, we are ready for your questions after the presentation. First, with a few highlights. Our net sales grew by 6%, despite the challenging market environment, and I'm actually very pleased to report growth like this in a typically very difficult quarter for us. So, always the first quarter for us is the most difficult of the year. Our adjusted EBITDA was 11,500,000, which was 1,300,000 less than a year ago. And our adjusted EBITA was SEK0.2 million, compared to SEK2.6 million a year ago. Our free cash flow was in line with the previous years, if we exclude the impact from demerger related payments and settlements. Operationally, we were at the same level. Operationally, as I mentioned already, the market environment is challenging, but we did take active measures to tackle the sharp increase in diesel price, and those measures have been implemented already. Our transition service period is approaching to end, and everything is going as planned. We expect to end the transition services between Luotea and us by the end of June. And our cost efficiency programme is on track. Then, let's go a little deeper into the net sales. As I said, our net sales grew by 6%, and organic growth was 2%, and the rest obviously came through acquisitions...