Addtech AB (publ.)

Good morning and most welcome everyone to Adtec's first quarter report presentation. Today's setup is that Malin and I will use approximately 50 minutes to summarize the highlights and give our comments to the results and followed by a Q&A session. All in all, the new fiscal year has started off in a good way. In general, the customer activity remains stable at high levels, resulting in a solid net sales growth of 7%, of which 2% organic growth. We also continue to strengthen our profitability. EBITDA is up 19% in the quarter, with a very satisfying margin of 15.3%, and also a further improvement of our profitable working capital.

Cash flow continues to be at very low levels. And as you have noticed, our acquisition pace was high during the period. More about that. in short. A bit deeper into sales. As I've already said, high activity in all business areas. We grew net, say, 7% And as I said, we were back to organic growth with 2.2% in the period. And as you see in the lower graph, it was broad-based. the highest contribution from electrification and process technology. Custom activity, as I mentioned, is stable at high levels. but it's variations between and also within segments. I will come back a bit more into details about market development.

We strengthened the profitability and the positive margin trend continued. We reached a new record level of 15.3%. and rolling 12, 14.7. And I must say it's very satisfying to see that the effect from our long-term initiatives to increase added value in our proposition, meaning more own and modified products and solution and improved product mix. And this is partly cutting tails that we always do, but also taking down some volume business. So the product mix is very on a good level.