Beijer Alma AB (publ)

Thank you. Welcome to this webcast for the first quarter in 2025 of Bayer Alma. Myself, I've been in position about less than one month, but I've been with the company on the board for a number of years. The picture you see now on the first page is actually from one of our latest acquisitions, Svemas. And they are the customer basis, the infrastructure, especially in Sweden. I guess most of you know who we are. We are Listy since many years. And personally, I regard us as a serial acquirer. uh even though market may not have been anticipated the company in that way and if we look at the figures the market situation as everyone knows is very unstable and and things happening day from day to day but in our case the first quarter was a good quarter If we look at the different regions, the Nordic region in general delivered good growth, combination of organic and acquired growth. And Le Sjefors, that's working a lot with the springs, are working worldwide and have a mixed demand, but actually has some organic growth in sales and order bookings. Chassis Springs, which is a separate business within Leche Forge, was slightly lower than last year, but a little bit higher margin. And Chassis Springs are springs to used cars. So that's actually where you replace the factory managed springs with replacements. In the industry segment, Asia, Nordics and US industrial contributed to growth. We have one acquisition we did a few years ago, AlcomX in Holland, and there we have some problems with their market of door springs, because they are connected to the construction market, and that is, as everyone knows, on a low level in Europe. We are working on ways to solve the problem, but still we are negatively affected by this situation. Biotech, who can see an overall stable demand, but it varies with the markets, but Biotech are mainly working in Norway, Sweden and Finland and partly in Denmark. But we had a very nice organic growth and also, as I mentioned, acquisitions. Liquefors only acquired one company in the quarter, and that will be in service from our case from the 1st of April. So it has not affected the first quarter. But it's an interesting investment in India, which is a growing market for the future. So the order bookings increased with 9%. Now we should remember that Eastern was in last year in the first quarter and it comes in the second quarter this year. So we had an organic increase of 4% and the net revenue with 8% to almost 2 billion Swedish crowns. and the adjusted operating profit was 282 million Swedish crowns and adjustment was related to the cost of the former MD when he left the company. We had an operating margin that was on the same level as last year. As you can see that Lykkefors is a a major part of Bayer Alma today with 68%. What we have seen in the past years is that the operating profit margin has been very stable. But as I see it now, we have some opportunities for the future to increase this margin. In Lykkefors, it was also order bookings increased organically as well as in revenue. And industry, who is an area where we have been growing for the last years, increased by 7%. And Chasse Springs decreased by 5%, but that is every year is a bit different depending on how tough the winter are. So that means how much cars are affected by the hard roads and those things. So it's minor change and the margin was actually a little bit higher for Chasse Springs this first quarter. a bay tech we had also very nice figures of increase of the bookings of 15 and net revenue but 70 and here you can really see nice growth for all the three three business units we have so so and mainly they are the main business here for for bay tech are customers in the nordic but if some few of the companies are also exporting worldwide from Baytech. So financials, we had an increase in adjusted operating profit EBITDA and the EBITDA margin was 14.4% same as last quarter last year. and adjusted EBIT margin was slightly higher than last year. So cash flow was more positive than last year. The profit increase that means also that we had a bit better profit per share than last year. Net depth increased also a bit depending on acquisitions. But we still have a good room for acquisitions in our balance sheet. And we are now on a net death to adjusted a bit of two times. Earnings per share increased with 6% for the period. acquisitions as we mentioned earlier we acquired one company in india but it will be closing is our transaction will be the first of april and uh generally i think that now we have for fully fortunate time of consolidation and in in looking for increased profit margin btech UPS Odeman in Finland. It was a small acquisition and will be connected to OPH in Finland. They have contributed the first month and Svemas was acquired in beginning of March, has had a good contribution during the month to our group. And here you can see the acquisitions we've done over the years since 2018. And I think we should see Beotech as a serial acquirer or compounder, some people say. and we have today in two business areas I should not be surprised if it's in the future will be more business with more acquisitions and also general more international acquisitions in the BayerTech area so So I think this is a nice group and I used once upon a time to be the MD of Indutrade for many years and I think the group has a potential to have a performance in the future like Indutrade and other serial acquirers. But we will always be cautious with what we acquire I look at profitable business and also with the low risk on the demand side. By this short presentation, I will open up for questions and answers. So please go ahead.

To ask a question, please dial pound key five on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial pound key six on your telephone keypad. The next question comes from Carl Noren from Seb. Please go ahead.

Yes, hello and good morning, Jonny. A couple of questions from my side. Maybe we start like overall on a strategic planning here. It sounds a little bit like we should expect maybe more focus on organic growth and organic margin improvements in Länsjöfors, while they are taking focus on growing both organic and through acquisitions. Is that how we should read it here in the near term?