Investment AB Latour (publ)

Good morning and welcome to the presentation of Investment Abilator's Interim Report for the first quarter 2026. The first part of the presentation will be in listen-only mode, and we then open up for questions. And to ask a question, dial star 5 on your telephone keypad or use the chat window. With that, I hand over to CEO Johan Jeftonsson and CFO Neskel Jonsson-Albrechtsson.

Thank you, Katarina. And once again, welcome everybody to the Q1 report on Investment Day Bill Natur. I'm here together with Mikael, our CFO. So very welcome, Mikael, as well. And the presentation is divided into two sections. The first part is a walk. We will walk you through the Natur Group's development in Q1, commenting on the development for the investment portfolio and the wholly owned operations. Then we open up for questions. And then we have a second part where we will make a deep dive into InnovaLift, one of Latour's seven wholly owned operations. And there we have invited Andrea Vedjan, CEO of InnovaLift, for this session. And finally, after that, we will have a Q&A session together with Andrea about answering questions on InnovaLift. Good. So if we dive into the first slide here, it's... I'd like to comment a bit overall. So it's a positive start to the year. Organic growth despite the EU political turbulence indicating an overall good underlying demand on the markets we operate on. But it varies between industries and regions. I'd like to highlight that the ordering tech grew organically plus 5%, and the net sales grew organically plus 4%. And then we had negative currency effects of quite large, of minus 6% in the quarter. We followed the turbulence in the Middle East closely, and our exposure to the region is limited, and no material negative impact has been identified to date. Currency effects continue to put pressures on our margins, but we keep the profitability in line with last year, despite the quite negative currency headwinds. I will comment more on the financial outcome more in detail later on in this presentation. The acquisition activity has been quite high during the quarter. We have finalized two acquisitions during the quarter. And after the reporting period, we completed an additional acquisition and signed an agreement for another one. And by that, I'd like to hand over to Mikael to comment on our net asset values. Over to you, Mikael.

Thank you, Johan. And if summarizing the quarter in figures, we can conclude that the net asset value decreased by 5.9% during the quarter and amounted to 203 SEC per share, which is to be compared to the six Rx that decreased by 1.2%. And the share price at the end of March was 201 SEC, which means that there was a discount of 1% compared to how we present the net asset value. And as of yesterday, the net asset value was 206 SEK per share, and the share price on the same day closed at 215 SEK, which gives the premium to our way of describing the net asset value of about 4%. The consolidated net debt increased in the quarter from 15 to 15.3 billion SEK, and the net debt corresponds to about 11% of the market value of our investments, leaving headroom for further acquisitions going forward. And with that, I hand over back to you, Ivan.