Nobia AB (publ) (NOBI) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you all for joining this quarterly result webcast. Before we dive into the quarterly numbers, and please operator, if you can take slide number two here. Before we dive into the quarterly numbers, let me start by saying that we are very pleased with the strategic steps that we have been announcing on January 14th. We are now a truly strong Nordic kitchen powerhouse. With the divestment of our UK operations, we can fully focus on our market-leading brands such as HTH, Marbodal, Sigdal, Invita, etc. These are brands with exceptionally strong market positions and structurally high margins. At the same time, we are strengthening our balance sheet through a new share issue and by renegotiating our existing credit facilities on significantly improved terms. We have also initiated a reorganization of the business to adapt to the future without the UK operations but also to give our brands the ability to act more swiftly in the marketplace and unlock opportunities for cost saving going forward. The cost for this program was a product item affecting comparability in Q4 and is currently being implemented. As of the result for Q4 then, we are very encouraged to see volume growth returning to our sales after substantial volume decline that has lasted for 12 consecutive quarters. The positive volume growth contributed to 3% organic growth in the quarter. Volumes are still at historically low levels, but the positive trend is creating stronger momentum in the organization, and we are seeing much higher activity across the product market in general. Judging by these indicators, it is likely that we will see growth starting to pick up more materially in the second half of the year. But we will need to come back on that one in the next quarter. Our growth margin improves slight...