CAG Group AB (publ)

Välkomna till dagens sändning. Du har med oss CIG Group. Där Åsa Landén Eriksson kommer att presentera bolagets bokslutskommuniké för 2025. Önskar du ställa frågor till Åsa? Går det bra med formuläret till höger så tar vi upp det efter sändningen. Och med det slår jag ordet till dig Åsa. Varsågod.

Tack så mycket Martin och välkomna alla som lyssnar. Åsa Landén Eriksson heter jag som sagt var och det känns väldigt bra att få packa ihop det åttonde helåret under min tid på CAG och den här rapporten är väl lite mer nyhetsbäckande än vanligt så det är väldigt roligt. Om jag börjar med vad som är lite key takeaways här så är det ju så att vi igår annonserade ett förvärv, det första på ganska länge. But on the other hand, a very, very good acquisition. I think I am very pleased that we have managed to do this. It is a company called Klara Financial Consulting and it strengthens our banking and finance segment. More about that in a moment. It also means that we will have two very equal strong segments and the other is defense, which is not least important for our national security and for us as a company and for us as shareholders as well. We also grow nicely in operation and management, IT service operations as it is called in English, and there is the largest part of our recurring revenue, which is a bit over 20%, often on three-year contracts. The last key takeaway is that there has been a positive price trend up here, and we have had that for quite some time now. So that feels good. And with that said, I'm just going to make a quick overview before we get a little more into this acquisition. Ni som har lyssnat förut känner igen det här. Vi tittar någonting jag vill gärna påpeka så är det att vi sedan något år tillbaka kör Winning Tempo Mäter. Vi var med i Great Place to Work tidigare och fick väldigt bra betyg. Nu möter vi det som kallas för Employee Net Promoter Score och vi ligger på en fantastisk nivå där. 64 är jättehögt. Så det är jag väldigt nöjd med. Annars är det inga större nyheter här. Klara, who we hire, is in the middle of Stockholm as well, so we stay a lot around Mälardalen. This is what it looked like in Morro Bitti. You can see to the right the five members in Klara and our chairman Bosse Lindström and me. We had to check a bit when we designed this. This is a company we have known for a very long time. It was the same when we bought Syntell. We knew very well who we were dealing with. And Klara is a very competent company. It is a bank and finance specialist that focuses primarily on capital administration, asset management. You have about 40 consultants and the management is very senior and professional. Consulta mycket själva ute hos kund, vilket vi sätter pris på, för det är ofta det bästa sättet att sälja på också, skapa förtroende med den kompetens som man har. Bolaget omsatte 102 miljoner nu 2025 med en väldigt fin marginal på 22%. And a special area in capital management is that, just like CAG, you actually work a whole lot with a portfolio management system called Simcorp. Simcorp Dimension, rather, the one that says SCD in the parenthesis. But of course you also have knowledge in other asset management systems and processes around capital management, not least. Man hjälper till med allt från strategi och processutveckling till mer systemnära frågor. And at CG, our management and management company, CG Datastöd, has also worked with Simcorp for a very long time, but from a more technical perspective, application management, where you make sure that these very important portfolio management systems work with all integrations around systems. and so on. The customers here, who are many, are common between CG Data Support and old CG and Clara. are many leaders, both public and private capital administrators. A large part of our pension money is, for example, within these customers and also many larger private ones. And for this we have been able to pay, or we think that we hope that we will be able to pay the entire sum, I should say. At 123.5 million SEK. It is an initial purchase difference of 85 million SEK. And it is divided into 75% in contents and 25% in C&G shares. So we have had a partnership here of new, very competent, committed shareholders. I think that's great. And then there is an additional purchase difference that can be a maximum of 38.5%. Den faller ut över tre år givet att vissa lönsamhetsmål nås. Jag känner ett väldigt engagemang hos Klaras ledning att jobba vidare. Man tycker det är roligt och det är väldigt kompetenta medarbetare i det här bolaget. Alla på CG har också varit mycket nöjda över att få säljas av ett till syskon. Framöver blir vi tio dotterbolag då. och vi planerar att stänga den här affären första april. Trots lite skämtsamma datumet så är det bra att börja i ett nytt kvartal. Så ser det ut. Det är om detta. You can see the figures for the whole year here, I will come back to that later. We have had a continuous growth and profitability, and it is not really true on the revenue side, as you can see in the last two years, a little more beige. It is due to the fact that we closed our daughter company on technical tests. i början av 2025 och det var också två färre arbetsdagar i det året då. Däremot så ligger ju vår vinstnivå kvar och vi har en högre marginal i 2025 än året innan. Så det känns bra tycker vi. Och innan jag kommer in mer på siffrorna då så tänkte jag bara repetera där. Vi har 35 % av våra intäkter i försvarssegmentet och vi jobbar ju väldigt mycket med Materielprojekten, det är verkligen verksamhetsnära om man får säga så, inom alla försvarsgrenar. Och med förvärvet så kommer redan vår fjärdedel bank och finans snarare bli en tredjedel. Så det blir väldigt välbalanserad portfölj där. If you look at the customer list, in the upper right corner, you can see many of the customers in capital administration, such as both CHG and Klara. We also work more with the retail side on SEB, Handelsbanken, Swedbank. We work with Riksbanken. Finansinspektionen och den typen av kunder. Men också, som ni ser, många väldigt fina försvarskunder och andra kunder också inom övre offentlig sektor. Och på PIM och e-handelssidan har vi mycket B2B, men också lite retail. Gant och Boots Apotek till exempel kan man peka ut. So that's about our customers, you may have heard this before. If I go on, that's the funniest thing. We have had a good flow of new contracts and deals during the quarter and it's fun. It feels like the conjecture is tinkering a little bit. We have taken a very important renewed contract with Alekta, where we now have an extended contract that is valid for three years and can be extended for two more years. Myke myke värdefullt för oss detta och även ett nytt bra avtal med Folksam som gäller i tre år. Ett ramavtal med Region Gotland som är helt nytt för oss inom healthcare-sektorn. Och sen jag höll på att säga the usual aspects då FNV, SAAB, DI Systems Hägglunds, I should say, who are very important customers. And also Finansinspektionen, KPA Pension, Skandikon, customers that we have been working with back and forth. And also within Drift och Förvaltning we have had new ones and others. You can see how nice the customers are. Micronic is fun. There are a lot of things for the semiconductor industry that are exciting. Now I'm entering Q4, the fourth quarter, and there was a small decline in revenue due to the shutdown of the company during the technical test, but we have compensated for it quite well. Exclusively during consultations, we go back by one and a half, but of course we are never satisfied when it goes down. Now, when we have made a contract, all figures will of course be much higher, and that's fun. But what is nice is to see that we actually have a small margin strengthening in the quarter. In terms of money, we are very close to the previous year. And the cash flow was also very good. We had the days with us and the customers paid very well. So the results after the tax are also very close to the previous year. Results per share also. And we will then come up now in... The number of employees and also counts on that we will be able to come back to a net recruitment, so to speak, on the old CAG as well. Not just acquired growth. If you look at the whole year, we ended up, as you saw earlier, at 149 million. And this little downfall is completely explained by the shutdown of the company in the technical test and these two fewer working days. So yes, it has not been the world's most fun market. It is a bit divided. There is good demand in defense and management. The rest of the market has continued to be a bit slow. But in terms of margin, it is very nice to see that we are strengthening the margin. Tuggar uppåt lite granna, ligger väldigt nära i kronor. Bra kassaflöde, resultat efter skatt väldigt lika. Och det får också till följd att styrelsen har föreslagit en utdelning på 4,30 per aktie, vilket är en yield på lite drygt 4%. And that means that we, during my eight years, have had a progress in the distribution level every year, actually. And that's something that we think is good. We think we know that you shareholders value a certain level of distribution. So we are very capital-efficient in our business, so we will see that in May, quite simply. And if you look at our financial position, we have continued to have a very good one with net and cash, how you count. We hope to get a new mandate on 10% of outstanding shares from Stämman, which is May 7th. And that, together with our very low reward and good cash, you see that we had 122 million in the cash in the year shift, means that we also, after the acquisition of Klara, have a very good position to continue to acquire. That's how it is. So if you look again at Key Takeaways, I brought the same four points here as I had in the beginning, and I couldn't let it go and add such a consulting point. Boring for the employees, maybe, but we have to work two extra days this year, 2026, than last year, and just that implicerar då att det blir tillväxt på 0,8% om vi håller takten och de dagarna infinner sig i Q2 och Q4 som också är starka kvartal. Jag kanske ska avsluta också med att säga att som vi skriver i rapporten så det är lite... Yes, it's a bit difficult. Even though I have decided it myself, this is my next last report for CEG. I hope to be able to do, or I plan to do, the Q1 report on April 28, together with my successor, Peter Strömberg. I look forward to that, and I am completely convinced that Peter will take care of CEG in the best possible way. So that was what I was going to present, Martin, and maybe we can open up for questions.

Absolutely. Thank you very much for that presentation, Åsa. And if you want to ask questions, it's good when the formula is correct. If you find it on the right, we'll take it up as I said now. Let's start with the first question, which sounds like this. Clara, the acquisition sounds valuable. Was there competition about the acquisition and what drove the transaction and that they chose just CAG?