Now, I will hand the conference over to CEO Staffan Torstensson and CFO Johan Irwe. Please go ahead. Thank you, operator, and good afternoon, everyone. Our performance in the second quarter was in line with our expectations across revenue, earnings, and a bit stronger when it comes to cash flow. We saw a strong momentum in our laboratory equipment and clinical trials business, which helped offset the tough comparison to last year's Q2 when we benefited from several large clean room orders. While the macroeconomic environment remains uncertain, with rising geopolitical tensions and a new tariff development, the markets we operate in are holding up relatively well. That said, we are seeing some softness in large CapEx-related sales cycles. We are also experiencing a headwind from the recent strengthening of the Swedish krona, which has impacted our top line and earnings through translation effects. Looking ahead, our focus remains clear to continue pushing our acquisition strategy and to deliver sustainable value creation for our shareholders. With that, let's take a closer look at our Q2 numbers. Our net sales came in at SEK 396 million, which took us to a year-over-year growth of 4% adjusted for FX and - 4% including FX. EBITDA came in at SEK 61 million, in line with last year's SEK 62 million, which takes us to a margin of 16%, slightly stronger than last year's 15%. Looking at the cash flow from operations, it came in strong at SEK 70 million compared to -SEK 19 million last year. During June, we finalized our new financing structure. We have now added proper bank financing combined with bond financing at better terms. If we apply the new financing structure for this quarter, our pro forma net profit will be more than double what is reported. The pro forma figure will be SEK 23 million and compared to the reported of SEK 10.8 million. Net leverage came in at three times. Having a bit more closer look to our new financing structure, gross debt reduced with approximately SEK 480 million. Our old SEK and U.S. bonds were partly refinanced with new SEK bonds of SEK 800 million with a margin of 350 basis points over Stibor. A new bank facility with a total of SEK 450 million, with a U.S. term loan of $15 million and an RCF of SEK 300 million. All in all, we have reduced our annual financing cost with approximately SEK 56 million. 2/3 comes from lower gross debt and 1/3 from better terms, meaning lower interest margins. The capitalized transaction costs going forward will be about SEK 6 million a year, which is SEK 15 million less than the previous structure. This will just affect the net profit, I mean, no cash flow effect. Coming into the commercial and operational highlights of Q2, we saw a stable business momentum in both healthcare and lab during the quarter. We continue to focus on efficiency initiatives to make sure that we are maximizing our potential to create shareholder value. Managing working capital is one of our top priorities. During the quarter, we saw cash flow increase compared to the same quarter last year. In terms of geography, approximately 42% of our sales in the quarter came from Europe, and the second largest market is North America, and the third is South America. Looking at our sales by product category, the top three for the year are laboratory equipment, 41%, followed by medical consumables of 33%, and medical equipment of 21%. High activity in laboratory equipment and also in clinical trials U.S. On the topic of tariffs, the direct impact at, I mean, level one, referring to products manufactured outside the U.S. and imported for sales into the U.S. is relatively limited. We have stated before, and it's the same at this stage, it's SEK 30 million - SEK 40 million. Most of our U.S.-based companies both manufacture and sell their products domestically within the U.S. market. That said, we do rely on certain components sourced internationally for our U.S. production. The positive aspect is that our products are essential in nature, designed to extend, improve, or even save lives, which provides a certain degree of resilience regardless of broader trade dynamics or geographical tensions. Splitting ADDvise Group AB into healthcare and lab, and looking at healthcare, our sales came in at SEK 235 million in the quarter, an organic growth of 1% FX adjusted and - 8% non-adjusted. Looking at the first six months, we saw an organic growth of 1% and 6% FX adjusted. The lab segment reported sales of SEK 161 million for the quarter. Organic sales came in at 3% and 8% FX adjusted. Looking at profit margins, healthcare came in at 15% EBITDA margin, and lab came in at 21%. Lab delivered a strong margin, and I would say healthcare came in at a stable level. Looking at net sales by geography, for the healthcare segment, North America continued to be the key market with roughly 51% of sales, and we don't see any big change going forward. Having said that, Europe has a good development. In the lab segment, Europe is the largest market, followed by the U.S. We remain focused on profitable growth, stable returns, and maintaining a well-balanced debt level, all underpinned by the execution of our acquisition strategy. A strong emphasis is placed on EBITDA growth and return on capital employed as our key financial performance indicators. EBITDA growth will be driven by a combination of organic expansions and strategic acquisitions. Our long-term target is to double EBITDA every five years. A dividend remains part of our long-term financial framework, but distribution will be considered once all other long-term financial goals are at satisfactory levels. We are committed to maintain a maximum net debt/EBITDA ratio of three times, while the dividend remains part. The dividend will come into play when all the others of our long-term financial goals are met at the sustainable and appropriate level. I'm now handing over to Johan Irwe to take you through the group's financial performance. Thank you, Staffan, and good afternoon all. I'm happy to be here today and take you through the numbers for the second quarter of 2025. EBITDA, which is ADDvise's main key metric for measuring profit, gives a fair view of the financial performance of our companies. EBITDA is defined as operating profit before amortization, impairment, expenses, and revaluation related to acquisitions, as well as non-recurring items. EBITDA is our key metric from this year, and figures in this graph have been historically adjusted for the new definition. EBITDA in the second quarter amounted to SEK 61 million, which corresponds to a margin of 16% or 15.5%. Both EBITDA and EBITDA margin are in line with the same quarter last year. As we have pointed out in earlier quarterly reports, 2024 faced tough comparables from 2023. However, the individual quarters of 2024 should be considered normal levels of profits, which means that from Q4, we are now on a normalized level of sales and profitability on a rolling 12-month basis, which is confirmed by this quarter as well. For the last 12 months, EBITDA amounts to SEK 267 million, which corresponds to a margin of 16%. Moving on to cash flow and capital efficiency. On this slide, when we talk about cash generation, we look at the underlying cash flow generated by our companies with deductions from changes in working capital, as well as depreciation and investments in our asset base, including lease payments. In the second quarter, we see a moderate working capital build of SEK 4.8 million. Working capital efficiency and optimization is and will always be a key focus area for us and our companies. Depreciations include depreciation on fixed assets, as well as depreciation on right-of-use assets related to leases. The net between depreciation, leases, and investments is SEK 2 million, indicating higher new investments than depreciations on existing assets, mainly driven by production efficiency and investments in our South American business. Total cash generation from operations in the quarter was SEK 54 million. Relative to an EBITDA of SEK 61 million, we consider this a solid level of cash generation in the quarter. Return on capital employed, which measures profitability and how efficient we use our capital, was 12% in the quarter. From this year, this metric is one of ADDvise's long-term financial targets, where the long-term goal is 15% return on capital employed. Moving over to a financial position. Here, our long-term net leverage target is 3 times net debt over EBITDA. In the quarter, net leverage was 3.0 EBITDA. The rights issue was finalized in April and added SEK 457 million before transaction costs to the company. It also included a warrant that could potentially add an additional SEK 172 million in Q1 2026 if fully exercised. As Staffan mentioned earlier, the new capital structure with bank financing and bonds at better terms will reduce our yearly interest expenses by around SEK 56 million compared to the old financing structure. Available liquidity is good. Cash at the end of the quarter was SEK 140 million, with an additional SEK 111 million available in unused credit facilities. That was all from me. I will now hand over to Staffan for some closing remarks. Thank you, Johan. I will summarize and give you our takeaways from Q2 before we open up for questions. Organic sales - 4% and + 4% if we adjust for FX for the quarter. EBITDA on a stable level despite FX headwind. Production and operational expenses in the same currency as revenue, so this has a good effect for us. Cash flow, solid cash generation. New financing is done. Bond refinancing at better terms and bank facility. All in all, better flexibility and lower financial costs. On the acquisition side, we continue to work on a couple of interesting opportunities. As said before, it has to be right. We are not stressed, meaning that we look for very good quality at a reasonable price tag. With that said, we open up for questions. If you wish to ask a question, please dial pound key five on your telephone keypad to enter the queue. If you wish to withdraw your question, please dial pound key six on your telephone keypad. The next question comes from Philip Eckengren from ABGSC. Please go ahead. Thank you, operator, and good afternoon, guys. First, Staffan, just a quick clarification. The direct impact from tariffs, I know it's limited, but you said SEK 30 million- 40 million. Is that an annual number? Is that correct? Yes. Yep, perfect. Good, okay. Let me make sure that this is, I mean, that's level one, right? I also stressed that there is another level. Yeah. Okay. Good. Sure. Good. Now, let's look at the sales growth because both segments seem to deliver organic growth and kind of in line with expectations if we look past the currency effects. Could you please give some color on that? Are there any particular companies or subsegments that are performing well or worse, if that's the case? As I said, laboratory equipment did very well. Clinical trials U.S. was also performing very well during the quarter. I would say the remaining is delivering on a stable level. There is no really surprise on the downside. That's good to hear. What will you describe the visibility as? Could we expect continued growth or should we see, I mean, you talked about some larger CapEx projects being a bit suspended or at least they're more hesitant. Could you say anything about the visibility, please? It's, of course, very difficult to look into the future. Looking at our orders, and if we then adjust for FX and also adjust for our big clean room orders that we had last year, we are more or less flat to a bit positive. That's a good indication that we are still growing and we are still set for growing. Yep. Sounds reasonable. The lab margin surprised me somewhat. I know it can be volatile, but what can you say about, because you say kind of that lab also surprised you a bit. I got that impression, at least. What can you say here? What do you think about the margins for the rest of the year in terms of volatility and a kind of normalized level? What do you think is reasonable here? From quarter- to- quarter, of course, it's difficult to, and it can be volatile. I would say that lab is performing where they should perform. Having said that, I mean, we are pushing for even higher margins. As you also know, there is a bit of project-related business in lab, which can disturb the picture a bit. Sure. Finally, I was reading the prospectus from July 11th, from the bond prospectus. It states, and I'll quote here, that you're involved in a dispute regarding an earnout claim amounting to approximately EUR 6 million. Could you give any color on that at its current state? What is that about and what should we think about going forward? It relates to also, if you recall, we had this big clinical trials Europe, which had one order that got a contract that was terminated. It was supposed to run for three years, and it got terminated year one due to the client was not able to recruit a sufficient number of patients. What happened there is that we received all cash on all sales on that contract in one year. That, of course, affected the performance of that company. I guess that's relating to that. We are in talks with them. We have a clearly other view in terms of how we should deal with that when it comes to earnout calculation. Okay. Thanks for the clarification. That's all for me for now. Thanks. Thank you. As a reminder, if you wish to ask a question, please dial the pound key five on your telephone keypad. The next question comes from Christian Lee from Pareto Securities. Please go ahead. Thank you, and good afternoon. Thank you for taking my questions. My first question is regarding the market hesitation regarding larger CapEx investments. Do you see this affecting both healthcare and lab? I would say it's mostly lab, and that's maybe a bit contradictory because lab was performing good, I mean, in terms of laboratory equipment. I'm not saying that it takes longer time. That is my feeling. Thank you. The EBITDA margin on rolling 12 months was 16%, which aligns with the level of 2024. Is this the normalized level we should expect going forward, or do you see any headroom for improvements given your comment about lab being at a healthy level and healthcare being at a stable margin level? Christian, we are always pushing for higher margins. I mean, we are not satisfied at all, but we say that there is, of course, as you can from quarter- to- quarter, 1% - 2%. It's extremely difficult to line out if it's a stable level or where it is. I mean, it's clear that the companies now are operating well, and we can continue to do them even better, which then will result in even higher margins. I mean, we have a clear target that we would lift the margins about 20%. All right. Thank you. Given that EBITDA for the first half of the year is down 3% year- over- year, do you still expect to reach your new target of increasing EBITDA with 15% this year? We need to do, and pro forma need to do an acquisition. Standalone where we are now, it will be tough. As we have said before, the 15% growth will be, must be helped by acquisitions. Right. You also commented that you saw good acquisition opportunities at attractive valuations. Given that your net debt leverage is at three times as of Q2, do you expect to continue your consolidation strategy this year, or will you focus on decreasing the debt ratio first? Hopefully, we will succeed to do both, even though that's a tough thing. We will continue, and we're looking into acquisitions. You never know when you can actually close the acquisitions. We are working with a couple of opportunities as we speak. We have clear ambitions to do so, to do acquisitions. Having said that, of course, we need to have a healthy debt level going forward. Okay. That's very clear. Thank you very much. That's all from me. Thank you. There are no more questions at this time. I hand the conference back to the speakers for any closing comments. Thank you all, and have a continuous good day and a good summer. Thank you. Bye-bye.
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