Ratos AB (publ) (RATO_A) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Ratos and welcome to the presentation of the second quarter. With us today we have our CEO, Jonas Wiström, and our CFO, Anna Vilogorak, who joined us fairly recently at Ratos. The following hour will look as following. We will first listen to the presentations and after that you will get the possibility to put forward your questions. So busy hour. I think we should get started. Please go ahead, Jonas. Thank you, Katarina. And thank you, everyone, for joining us this wonderful summer morning in Stockholm, at least. So we're going to go through the in-dream report for the Q2. I just want to start to say that we're quite happy in Ratos today. This is not only a strategically very important quarter, we're also actually quite happy with the numbers, including the fact that we have an organic growth in a subdued and uncertain market. The fact that we could execute on our strategy towards industry and critical infrastructure, that means that, and you can see it in the report, that our EBITDA margins is actually growing with 3.5%. What is not as easy to see for those who are new visitors to Ratos is that we will have lower volatility in cash flows mainly, but also in EBITDA and of course better EBITDA margins, as I mentioned. This volatility could be over one billion in a quarter. We do also have a strong financial position. Anna will come back to this, but we have still 40% roughly in shares in Sentia with a value of some 2.5 billion SEK. We will also talk about plantation. We have an improved profitability and, of course, much better stability in plantation after financial reconstruction. But there are some special things that is worth to mention about the effects of the reconstruction in the second quarter. So, if we start just to look at our E...