Kalmar Oyj B

Kalmar published its Q1 report in the morning, and this morning I have a challenge from the CEO of the company, Sami Nirona. Hello, Sami. Hello, hello. If we go through the past quarter in a traditional way, how would you sum it up?

I would say that a stable start to the year as a whole and perhaps a little split. There was a lot of good things that we did during Q1. The turnover grew from the previous year. The orders were on a very good level. There weren't any bigger shipping orders. There were a few orders, of course, but not much. in the previous year or in the previous four years, and in that respect, the 451 million is satisfied with it. Then the cash flow was strong, and of course the investment in the daily income, accordingly, improved as well. So there were a lot of good things in this way. The so-called driving excellence program is doing really well. There are now these savings, increased driving efficiency, in front of €40 million. Of course, not everything has been materialized yet, but it really supports our operation and gives us the opportunity to invest in our strategic areas now and in the future. So, the positive side that remains to be improved is the profitability of the maintenance and service business, perhaps the overall volume as well. In terms of orders, it fell slightly below 150 million. If you think about the previous four years, it fell below that. In terms of profitability, it fell by 16%. That's a big drop compared to last year, but overall, it fell by 17.6% for the entire last year. I'm not satisfied with that. We got a 10% drop in full electric vehicles. That's 9% in the last 12 months. We haven't gone any further, so we have to improve that as well. That's where the duality in the quarter comes in. Yes.

Let's talk about the service industry. You had challenges there. What were the main reasons behind the report?