Prevas AB

Hello and welcome to today's presentation with Prevaz. With us presenting today we have the CEO Magnus Wilhelm and CFO Helena Burström. If you're calling in and would like to ask a question please press star 9 to raise your hand and star 6 to unmute yourself when you get the word. You can also type in your questions using the form to the right. And with that said please go ahead with your presentation.

Thank you very much. Hello everybody. My name is Magnus Wilén and I am the CEO of Prevaz and I welcome you to the presentation of the Q1 results for Prevaz. The agenda for this short meeting looks like this. We will start with this introduction. Then we will have a review of our financial performance for the first quarter. We will have a market update and finalize this meeting with a Q&A session. And I hope that you will bring in some interesting questions for us after the presentation. So how did we perform in the first quarter of 2026? During the quarter, we saw a stable revenue performance in a continued cautious market environment. We had a negative growth of around minus 1% and organically minus 2.9%. The positive part for this quarter is that we see a Continued profitability trend that goes upwards. Adjusted for restructuring costs, we delivered EBITDA margin of 9.3% for this quarter. The reported EBITDA margin was 35.7 million SEK, which is in line with last year. An EBITDA margin of 8.4%. Also that in line with last year. But another positive part for this quarter is that before the six consecutive quarter in a row, so a positive development in Finland, where we had an EBITDA in CEC of 2.4 million compared to last year of 0.6. So that means that we continue the positive development we have seen in Finland for quite a time right now. Looking into the operative cash flow, we can see that it was 10.8 million SEK for the quarter compared to 32.2 last year. And this was impacted by working capital effects due to larger engagements. Helena will review this more in detail later on in the presentation. Looking into the EPS, we can see a decrease from 1.75 to 1.57. And that was mainly due to negative currency effects on lows that we have in euros. And of course, the underlying reason is that the euro and the SEC ratio has changed during this quarter. So all in all, I believe that we in Prevost during the first quarter has taken positive steps in the right direction to improve profitability, even though we still are in the present very cautious market. And if we zoom out a little bit, we can see that Prevas is a company focused to grow with profit. You can see that on this graph where you see the rolling 12 figures that we have a continued growth in the company, although we can see that we have been flattening out in this cautious market we have seen during 25 and also start of 26. Looking into the EBITDA and EBITDA margins, we can see that we now for three quarters in a row has performed increased EBITDA or the same level of EBITDA as the year before. So now we are in a different trend compared to what we have seen for 2024. So that I believe is a good step forward as well. So with this, I leave to Helena to review a little bit more in detail related to our cash flow and our financial position.

Thank you, Magnus. Cash flow from our operating activities amounted to 11 million SEK in Q1, representing a decrease of 21 million SEK compared with the same period last year. The decline was mainly driven by a change in working capital, reflecting a different project mix compared to last year. The overdraft facility of 100 million SEK remained fully unused, end of Q1. Cash at the end of the quarter amounted to 10 million SEK. And net debt in relation to EBITDA, rolling 12, was 0. And our financial goal is not to exceed two times over time. Equity ratio amounted to 53.1%. We have a strong balance sheet and we have a solid financial position. And with that, Magnus, I hand over to you again.