QleanAir AB (publ) (QAIR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

So a warm welcome to the Clean Air Investor presentation for Q1 2026. My name is Sebastian Lindström. I'm the CEO of Clean Air and joining me in today's call is Fredrik Sanderlin, CFO at Clean Air. Fredrik and I will go through the presentation and then open up for Q&As towards the end. So starting off with the numbers for Q1, we closed a good quarter, but a quarter with significant headwind when it comes to foreign exchange. We delivered 114 million in sales in the quarter, which meant a decline in reported numbers of 2.3% versus last year. And as I said, we had a strong headwind on the currency side. In constant currency, we grew 10.6% in the quarter. We had some help on the U.S. cleanroom side from the Curexa settlement, but even taking that into account, we showed growth for the quarter. And more importantly, cabin solutions grew 5.7% and air cleaners grew 13.4% in constant currency. our new products focused on solutions for critical problem areas of the industry are continuing to drive growth and to mitigate the difficult market conditions our recurring revenues were 63 million which from a reporting in swedish corner looks far below last year 68 million but again in constant currency we showed growth to 72 million our gross margin remains strong and healthy, all product categories are now above the 60% mark, thanks to a higher rate of renewals on the air cleaning side, products targeting more critical problem areas of our customers, and the cost improvements we made over the past two years in supply chain in Europe and overall in the U.S. Our EBITDA margin of 13.1% was behind last year's 14.3%. But taking out the benefit of Curexa settlement and adjusting negative currency effects and periodization effects, we slightly improved. Cash flow was negative 5 million...