Qt Group Oyj (0RG5) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon and welcome to the QD Group's first quarter 2025 results presentation. My name is Heli Jensa, IR Lead, and with me today are CEO Juha Varelius and CFO Jouni Lintunen to present the results. After the presentations, we will first have questions in the room, and if time allows, then we'll continue with questions on the lines. But please go ahead, Juha. The floor is yours. Thank you. Good. Good day, everyone. My name is Juha Aurelius. And like I said, I'm going to go first the business highlights, then on financials, and then the outlook for the rest of the year. So if we look our quarter, our net sales grew only 4.8%. And of course, that was a disappointment. We were expecting quite a bit more. But the challenge was... The environment was very challenging for us. Our EBITDA margin was 17.9. And, well, we're not – our EBITDA, Joni will talk about it more, but, of course, our EBITDA goes very well hand-in-hand with our revenue because we're in a product business. So given on that – We are not. It's always a question that are we going to be reducing our investments for the future? And the answer is no, we don't do such decisions based on on one quarter. So What we saw during the quarter, if I look on the overall perspective, we had softness more in Europe and the US and less so in Asia Pacific. So in APAC, we were doing better and the market was not that soft over there. Overall, if I look on the renewals and how people were renewing, they were renewing pretty much on the same ratio as they've traditionally have done. So people that have one-year licenses renew one year and three-year licenses three years. So we didn't see any big impact over there or change. However, we did see people being – customers being cautious. They were very cautious. cautiously lo...