Synsam AB (SYNSAM) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Synsang Group's results presentation for the first quarter of 2026. My name is Frida Leim, and with me in the studio today is our financial manager Per Hedblom, who will present the first quarter for us. So with that short introduction, I'll hand over the floor to Per. Thank you, Frida. Visibly, the profitability has increased in the first quarter and all marginals have strengthened. The gross margin increased to 75.8% compared to 74.1% a year ago. The EBIT margin increased to 10.4% compared to 10.0% a year ago. And the EBITDA margin increased to 22.2% compared to 21.6% a year ago. Organic growth rose to 5.6% and like-for-like growth rose to 3.8%. We have had a stable development of the subscription business, somewhat lower in the cash business. The subscription turnover increased by 6.1% in the quarter and the net turnover in the cash business increased by 1.0% in the quarter. Both businesses were affected by currency effects. The proportion of IVs and visual examinations increased to 21% in Sweden, respectively 23% in Norway. The result after tax increased by 51% and rose to 131 million versus 87 million a year ago. The result per share increased to 92 euros per share versus 60 euros per share a year ago. After a strong cash flow and net debt adjusted to EBITDA, it was reduced to 1.67 versus 1.83 a year ago. The net turnover in the quarter rose to 1.773 million versus 1.708 million a year ago. EBIT increased to 186 million versus 174 million a year ago. EBITDA increased to 400 million versus 275 million a year ago. We have had a positive organic growth on all markets and also positive like-for-like growth. Finland, where we have had 18.7% organic growth, Sweden 6.5%, Norway 4.2%, Denmark 4.8% organic growth. EBIT rose to 185 million in S...