Hanza AB (publ)

but the good part is only temporary. The beauty is when you integrate a company like Leden into Hamsa, the capacity of Hamsa and Leden, one plus one, becomes more than two. So already within this year, we will have a new capacity solution in place, and that will lead them to a very quick upturn in the profitability. So that's about the Leden case. If we then look at Lynx, This was, let's say, a response to the new security situation in Europe, which was very clear when the new administration took office in the US. Lynx is about targeting the defense sector. And we have a concept that works really well for that. We have electronics, mechanics, complex assembly in local places, exactly what is needed for the expansion of this sector. And I think also we have good experience. Defense is nothing new for us. We've been working for them for many, many years. But I think also on a personal note that this is not just good for business, it's also good for Europe. It's about Europe. It's about democracy. I think every contract manufacturer should ship in some capacity for the defense industry right now. It is really important. On the other hand, we must, of course, safeguard capacity for other industries, for other customers. The talk on the street now is that the fence is eating up all the capacity, what will be left for the other industries. And that's why it was so important with this acquisition of Melectrica. It brings expertise, it brings a new customer base, but it also brings a capacity platform where we can grow with this sector without having to lower the capacity for other industries. Now we are waiting for the approvals from the authorities. It's a standard process. We expect that to be ready by September. We have said at that point we will have a little, not opening ceremony, but closing ceremony when we close the deal in the headquarters in Finland and talk more about the new customer base. We cannot reveal so many details right now and talk about this Lynx project, how that will proceed over the coming year. And you are much welcome to please join us then. We will send out invitations. What we can tell already now is that Melekte comes with one factory in Finland, two in Estonia and one in Abu Dhabi. It brings our total staff up to 3,500 people, divided as you can see on the map to the right. It brings the sales of about 300 million SEK annually, same case as with Leden, or better and worse, how to say it, but this area will expand even quicker than Leden, but we do have a capacity platform. So we are not afraid of this increase. We will be able to handle this thanks to the plan we have made in Lynx. And again, more about this in Finland in September. And this will then be kept as a special part. And that is also unusual. Instead of putting the different factories to the different clusters like we did, we will keep this as a special unit, as a special part of the LYNX project. More information to come within soon. And with that, I leave the floor to Lars to talk about sustainability.

Thank you, Erik. And the sustainability work in Q2 was focusing on including leden that we acquired in March into the figures. So now we have in the figures you see to the right, leden factories are included. We also started to work with the DMA, including leden to prepare for disease RD reporting by the end of of this year and the beginning of next year to fulfill the requirements. We also worked with the annual employee survey, the feedback we get from our employees. We work with that, changing where we can improve things based on the feedback we get from our employees. And we also have quite interesting project in Estonia, bringing in people from the open prisons working in our factories in both Tartu and Narva. And next step will be to also do this in Tallinn. We see on the figures that the injury frequency rate are stable. at the level we have been for quite a while. And we also see that the hazard waste is increasing a little bit due to the fact that we took down one painting line in Seve and that increased this temporarily. We also see that the energy use is increasing. That is due to the acquisition of ledum. Coming into the financials, we see a strong increase of the net sales, increasing with 24%. And we also see an organic growth of 3%. And we are a little bit above this 1.5 billion SEC in the quarter. And same level as in Q1. So accumulated including leading the full period of the first half year, we are a little bit above 3 billion or 3 billion 51 million SEK. As Eric mentioned, we see a change in the market. We see that for the first time since the downturn in the economy, we see increased receivable of orders and the volumes that will increase in respect to increase in, in the second half year. So that's a major change in, in, uh, in the operation right now. Earnings, uh, the adjusted operating profit, which actually this quarter is the same as the operating profits is 106 million, uh, SEC. And, um, having, uh, uh, Continuing increase of the margins, if you take the comparable units, we have 7.8% coming from 4.1% a year ago and 7.3% in Q1. Erik mentioned the challenges we have in the Leaden factory and that reduces the margin for the whole group. Leaden is approximately on 4% in margin in Q1 compared to 7% in March. We expect Leaden to increase the profitability. We also have arranged the transaction or the acquisition of Leaden with an earn out that is depending on the profitability in Leaden. So if this lower margin continues, we also will have a release of the earn out in the balance sheet. Orbit one. that we acquired a little bit more than a year ago. At that time, being on 6% approximately in margin, are now on the same level as the rest of Hansa, if you exclude Leland. So that's really positive and show good development of companies that we acquired that we can rearrange some parts and increase the profitability quite fast after the acquisition. The earnings per share increased to one crown, 13 öre. And for the first half year, it's 223. Looking into the cash flow, we continue to have a strong cash flow. We saw that the cash flow peaked in Q4, but it continues to be strong also in the first half year. We have not seen the full effect of the work we do with the working capital in Leland, so we expect to have a continuously positive cash flow rate. also when we are able to release some working capital in leden. And what you see on the graph to the right is actually when we acquired company, we increased the net debt compared to the EBITDA and then we are able to work it down. So both in Q2-24 and in Q1-25, you see that the net debt compared to the EBTA is increasing a little bit. And we are, regarding the net debt compared to the EBTA, we are well below the 2.5 that we have as a financial target. We will, with the acquisition of Emuletica, increase that temporarily. But we expect the net debt compared to the EBITDA to continue to decrease. We have a solid balance sheet. We have equity to asset ratio that actually increased during Q2, despite the fact that we paid out dividends. And we are on 35%. So we have a solid balance sheet. We also decreased the net debt, if you include the dividends, approximately with 100 million SEK. Coming into the segments, we see, which I think is very positive, we see that other markets are at the higher level and closer to the level of the main markets. And for you that have followed HANSA for quite a while, been hearing me and Erik saying that there shall be really no reason to have a lower margin in other markets compared to the main markets. It's more a matter of how mature the factories are and the programs that we call the next programs, where they are in what phase they are. And now we see the result of both the fact that the factories are more mature and that we have done this on its program with restructuring. So we see an increased margin in other market compared to what we have seen previously. We see on organic growth in main markets, we see a slight decrease of organic growth in other markets. And we see the profitability that are in line with historical figures, except for the fact that other markets are increasing the profitability ownership and share we have the same main owner we have some some differences some some Financial institutions are increasing their shares, their ownership, and some are decreasing, but no major changes. We increased the number of shares in the beginning of the year when we acquired Liadom. We see that Erik continues to increase his owning and holds now 640,000 shares, corresponding to 1.4% of the ownership. And by that, I leave back to you, Erik, for a summary.

Unless you'd like to comment on this slide. Sorry.