Luotea Oyj (0F29) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Luotea's Q4 2025 results webcast. Thank you for joining us today. In this session, we will walk through our fourth quarter performance and key financials, review the full year 2025 results and take a look at Luotea's strategic direction going forward. And this time, I have to say that presenting figures is especially difficult because presentation in accordance with IFRS 5 does not reflect the profitability of continuing or discontinued operations as separate legal entities prior to the merger. The presentation will be delivered by me together with our CFO, Mika Stirkinen, and throughout the presentation, you can submit questions in the comment field, and we will address them in Q&A session at the end of the webcast. Let's begin. Let's go first through Q4. Group net sales decreased by 1.2%, and in Finland, sales decreased by 7.8%. partly due to a continued termination of unprofitable contracts, but also because of intensified price competition and low additional sales volumes. Many companies have ongoing cost-saving measures which affect our additional sales. We are not engaging in margin undercutting in our contract sales. Finland's EBITDA declined by 1.6 million euros, of which half is explained by higher social costs, and the rest of it is explained by missing profitable additional sales. In Sweden, net sales increased by 11.5%, supported by stronger additional sales, and in Sweden, the economical situation is better than in Finland. Sweden's adjusted EBITDA improved by €0.5 million, reflecting the progress of efficiency actions implemented in line with our playbook. And the group IFRS reported EBITDA was minus €0.3 million compared to €1.4 million in the reference period. And Mikael explained the impact of IFRS 5 regulation on this fig...