Q1 2026 Ependion AB Earnings Call Transcript
Key Points
- Ependion AB (FRA:TW4) reported a record order intake of SEK 778 million, marking a 41% increase, driven by strong bookings across all focus segments and geographies.
- The company's EBITA strengthened to SEK 75 million with an EBITA margin of 12.5%, up from 9.7% in the previous year.
- Westermo, one of Ependion's business entities, achieved a record high order intake with a 57% increase, particularly strong in the train segment.
- Beijer Electronics saw an order intake growth of 20%, driven by demand in the marine segment, EV charging, and data centers.
- The integration of Welotec has strengthened Ependion's energy offering, with positive collaboration and cross-selling opportunities emerging.
- Free cash flow was negative due to increased safety inventories and higher accounts receivable, reflecting a seasonal pattern.
- The global supply situation remains strained, particularly with memory circuits, leading to increased prices and lead times.
- Sales growth was modest, with a 10% increase overall but flat organically, indicating a lag between order intake and sales.
- Geopolitical uncertainty continues to pose potential risks to the business, with unpredictable impacts on short-term operations.
- The defense segment, while showing interest, is still in the early stages of development and will take time to generate significant business.
Welcome to Ependion Q1 Report 2026 presentation. During the Q&A session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the speakers, President and CEO Jenny Sjoedahl and EVP and CFO Joakim Laurén. Please go ahead.
Thank you very much. Welcome everybody to this Q1 presentation for Ependion.
The headline of this report is record order intake and strengthened profitability, as you have seen.
So as usual, it is myself and Joakim Lorian in the call, and the agenda is similar to previous times, even though we have changed the format.
Of the presentation, slightly. So, I will start by giving a general business update and also looking into the two business entities. Then Joakim will dive more into the financials and finally I will give some concluding notes and outlook and after that we will open up for Q&A as usual.
So, summarizing the quarter, we have seen already in the
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