Embellence Group AB (publ)

Thank you. Yes, welcome to Ambulance Report for Q3 2024. My name is Olle Sven and I'm the CEO and today, as usual, is currently our CFO. Well, needless to say, sales-wise, it was a weak quarter with reduced orders from a very cautious retail channel. What was positive, though, was that our efforts to improve our margins are continuing to pay off. The gross margins reaching 67% in the quarter compared to 57.7 last year. And our immediate data margin also improved and reached 15.1%. And our manufacturing unit, Borås Tapetfabrik, continues to win market share.

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As I mentioned during Capital Markets Day in May, we don't expect to see solid market growth until 2025. On the positive side, though, we saw a strong product mix, and that was key in lifting the group's overall gross margin to 60.7%. Manufacturing, well, we are winning market share in the Nordic markets. The teams work to make our manufacturing offer more efficient, first and foremost, of course, to service our own brands, but also external customer, and it is paying off. The progress shows that we are on a good track, but we have a lot of things to do still. Well, now let's look into some of the exciting stuff that our brands have been up to in the quarter. First of all, Golden Sun, well, Cole and Son previewed the Japanese-inspired collection Shinrin Yoku in London during Focus 24. And we did that in the showroom the brand has in Chelsea. This collection was introduced to media, interior designers and trade during an event in London. And Focus 24, it's important to know that It's a big happening in London. More than 600 brands showing their products at more than 130 showrooms in Chelsea and with a very strong international media presence as well. Moving on to Borås Tapeter. Well, Borås Tapeter showcased some of the iconic designed wallpaper, but also fabrics at Formex in Stockholm. This is also an important arena for Nordic interior decoration and with many many visitors. Another brand I want to mention here is Papelina. Papelina celebrates 25 years this year and we did this by launching a limited edition of a rug made 100% of linen and linen is really an exciting material It has a very low carbon footprint compared to cotton or wool or anything else. So it's a very sustainable offer and we're so happy to have that in our collection now. Now over to you, Karin.