Valmet Oyj (VOYJF) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to Valmet's Thought Quarter result webcast. My name is Pekka Rouhenen. I'm the Vice President of Investor Relations at Valmet, and with me today are Valmet's President and CEO, Thomas Hinnerskul, and our CFO, Katri Hokkanen. Today we will walk you through Valmet's fourth quarter and also highlighting some of the full year highlights, the most notable one being the full year margin, increasing to a new record of 11.9% as our strategy delivered its first results during the second half. The agenda for today is straightforward. First, Thomas will present the Q4 full year highlights, including the acquisition of Severn. Next, Katri will walk us through the financial development in detail. And then Thomas will return to discuss the dividend proposal, the guidance for 2026 and the short-term market outlook for the next six months. And after the presentations, we'll open the lines for your questions. So thank you for joining us today and your interest in Valmet. And with that, let's get started, Thomas. Thank you, Pekka. 2025 was my full first year as CEO at Valmet, and it's been a true transformative year. We've been driving many changes and initiatives, and I'll get back to some of those later in the presentation. Therefore, firstly, I want to be thanking the Valmet team for all the hard work and commitment throughout the whole year. I also would like to sort of thank everyone at Velmet personally for being very open and welcoming me to Velmet and being open for the behavioral and cultural aspects we've been working on in order to speed up our execution and being bolder in our thinking. Let me start by setting the overall frame for today. We operate in a softer market in the second half of the year, but even though the market is going th...