Vestum AB (VESTUM) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Vestim Q1 2026 report presentation. During the questions and answer session, participants are able to ask questions by dialing star 5 on their telephone keypad. Now I will hand the conference over to the speakers. CEO Simon Gothberg, CFO Olaf Andersson, please go ahead. Hello everyone and welcome to our presentation of Vestim's Q1 report for 2026. My name is Simon Gothberg, CEO of Vestum, and together with me also our CFO, Olof Andersson. Let's start with some highlights from the quarter. It's great to see that we continue to deliver growth in adjusted EBITDA cash flows and again with an increase in adjusted EBITDA margin. this time up from 8.7% to 11.7%. Cash flow was, as expected, solid with cash flow from operating activities of 79 million in comparison to 20 million last year. Two acquisitions were completed in the quarter, but since cash flows were strong, we still managed to reduce leverage as measured by financial net debt in relation to reported EBITDA to 3.2%. Now let's have a look at the segments, starting with the flow tech segments. We're seeing great development with high profit growth and increased margins. EBITDA grew by 59%, while the EBITDA margin increased from 18.1% to 23.9%, driven by both organic development and acquisitions. We generated double-digit organic profit growth in both the UK and Nordics in the quarter. We implemented several organic growth initiatives by end of last year that have emerged through increased collaboration between the companies, mainly in the UK. And we're now seeing the results of this, not least in our pump hire business, where we achieved all-time higher sales in both February and March. And we are beginning to see some positive impact from the new UK investment plan, AMP8. And as for M&A, we completed...