Inission AB (publ)

My name is Henrik Intse. I'm an equity analyst at ABG who covers the company and I'm here to moderate today's call. First we'll have a presentation from the company's CEO Fredrik Bergel and CFO John Granlund and after that we'll move on to a Q&A. If you have any questions for management please type them in the Q&A chat and I'll read them out after the presentation. And with that, I hand it over to you, Fredrik.

Thank you very much, Henrik. Welcome to Inision Q2 presentation.

My name is Fredrik Berger. I'm one of two co-founders of Inision and one of two principal owners. Myself and Olle Hulteberg, we started this company 18 years ago, and we are still both active. I am the CEO of the company and Olle is the chairman. Initial today consists of two business areas. We have old Initial EMS, contract manufacturing of industrial electronics. We also have Enedo, which is a company developing, marketing and selling and producing power supplies. Both these business areas operating within customized, high-end, low-mix, low-volume industrial electronics. Today, I will present the Q2 financial performance. I will shortly describe the highlights during the quarter. I will also comment. on the financial targets. And then as Henrik said, we will finish with the Q&A. So please type in questions and we will do our best to answer those. So reported sales for the quarter decreased 6.2% to 534 million Swedish kronor. And since we have no acquisition adjustments, it's all organic. To explain the result on a very high level, due to the lower volume, the net added value are 13.2 million lower, which is partly saved by a little bit better gross margin or a little bit lower material share as we measure it. Cost level has come down, both personnel cost and other cost. Deprivation a little bit lower. Cost level has come down 8.4 million. This together gives an EBITDA of 24 million, which is then 4.5 million lower than last year. We have not obviously been able to fully compensate for the lower volume, and I will revert to the comment when I present the business areas separate. Lower financial net with 6 million, including a small currency profit of 1.6 million, gives an earning per share of 0.6 kronor, which is the same as last year.