Investment AB Latour (publ)

Welcome to the presentation of Investment Day, Vilator's Interim Report for the third 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 five on your telephone keypad or use the chat window. With that, I hand over to our CEO, Johan Hjertonsson and CFO, Mikael Johnsson Albrektsson.

Thank you, Katarina. Welcome, everybody. I'm here together with Mikael Johnsson Albrektsson, our CFO. The presentation today is divided into two sections. The first part, we will walk you through the Latour Group's development in Q3, where we will comment on the development for the investment portfolio on the wholly owned operations. And then we will open up for questions. In the second part, we will make a deep dive into Hultafors Group, one of Latour's seven wholly owned operations. And we're inviting Anders Hylse, CEO of Hultafors Group, for this section later on. And finally, we will have a Q&A session together with Anders. So if we go to the first slide. Strong quarter performance with a record high adjusted operating profit and improved profitability. Net sales increased in the quarter, partly supported by previously postponed projects that has gradually got underway. But it's also a fact that our businesses performed strongly in the respective markets, indicating that we gained market share. Order intake and net sales grew organically by 5% and adjusted EBIT amounted to 1.2 billion SEK with a strong margin of 16.9% in the third quarter. The order backlog increased to 8.2 billion SEK, supporting a positive development for the coming quarters. I will comment more on the financial outcome in details later in this presentation. Our listed portfolio remains unchanged, with the same 10 holdings where Latour is the main shareholder or one of the main shareholders. During the quarter, we increased our ownership in Fagerup by acquiring 1.5 million shares, bringing our share of the total capital to 48.7%. As active owners, we are stepping up our AI efforts even more, with the ambition for our companies to be at the forefront of AI adoption. Our focus is on using AI to improve efficiency and over time support sales and product development. This will partly be enabled by working together across our businesses and leveraging the strength of our global group. I'm looking forward to see how this development is going forward. And by saying that, I hand over to Michael to comment on our net asset value.

Thank you very much, Johan. And when summarizing the first nine months of the year in figures, we can conclude that the net asset value increased by 2.5% during the period. And this is adjusted for dividend and amounted to 216 SEK per share to be compared to the 6RX that increased by 10.8% during the period. and the value of our listed holdings decreased during the period while our wholly owned industrial operations have continued to develop positively driven by increased earnings rather than any increase in the multiples. The consolidated net debt decreased during the quarter from 12.3 billion SEK to 11.5 billion SEK and this is mainly driven by a strong cash flow. The net debt corresponds to about 8% of the market value of our investments, leaving headroom for further acquisitions as we go forward. And the share price at the end of September was 202 SEK, which means that there was a discount of 6.5% compared to how we present the net asset value. And as of yesterday, the nested value was 223 SEK per share, and the share price on the same day closed at 219 SEK. which gives a discount to our way of describing the net asset value of about 1.8%. And with that, I hand back to you, Johan.