Thank you very much. Good morning, everyone, and welcome to Loomis's second quarter 2026 presentation. My name is Aritz Larrea, and I'm the Chief Executive Officer of Loomis. With me here today are our Chief Financial Officer, Johan Wilsby, and Jenny Boström, our Head of Sustainability and Investor Relations. I'll start by providing a brief summary of our second quarter results before opening the floor for questions. Let's begin by turning to slide number two. We delivered a strong second quarter with revenue of almost SEK 7.9 billion. Currency-adjusted growth was above 9%, driven by strong organic growth and contributions from acquisitions. During the quarter, we saw very strong growth in our International and FXGS business lines, driven by increased demand for the transportation of precious metals. We also continued to deliver strong growth in our Automated Solutions business line. We increased our EBITDA margin by more than one percentage point year-over-year to 14%. This represents the highest margin in our history, and I'm pleased to see that the restructuring and efficiency initiatives we have implemented continue to support margin expansion. Our robust cash flow enables us to continue investing in the business while also delivering attractive returns to our shareholders. Although quarterly operating cash flow was impacted by higher working capital, we achieved a strong rolling 12-month cash conversion of 95%. As we announced at our 2024 Capital Markets Day, we have the ambition to expand our footprint in Latin America, and we made significant progress towards that ambition during the quarter. In early July, we completed the acquisition of the Argentine cash handling company, Transportadora del Interior. This acquisition doubles our operations in Argentina, giving us presence in the country's largest and economically strongest regions. As you know, we're in the process of acquiring Hermes Transportes Blindados, the most significant acquisition in Loomis's history. Hermes is the market leader in secure transportation and cash management in Peru, with approximately 50% market share. They have around 1,000 customers and approximately 3,200 employees. The acquisition further strengthens our position in Latin America and is an excellent strategic fit for Loomis. It also supports our growth ambitions in both Automated Solutions and the International business line. We are currently preparing to launch the public tender offer, which is currently expected to take place in August. Together, these acquisitions strengthen our footprint in Latin America, a region characterized by high cash usage and attractive long-term growth opportunities. Creating value for our shareholders remains a key priority at Loomis. During the second quarter, we distributed an ordinary dividend of SEK 15 per share and an extraordinary dividend of SEK 5 per share, returning more than SEK 1.3 billion to our shareholders. I'm also pleased that Standard & Poor's reaffirmed our BBB credit rating with a stable outlook, recognizing the strength of our balance sheet and our disciplined financial management. Finally, I would like to welcome Tobias Hägglöv as Loomis's new Chief Financial Officer. Tobias will join us in September and brings extensive leadership experience from a range of companies and industries. With that, let me turn to the next slide and review the performance in Europe and Latin America. Our Europe and Latin America segment delivered a strong performance during the quarter, with revenue of SEK 3.7 billion and a solid currency-adjusted as well as organic growth. Demand for secure logistics and the management of high-value assets remained strong, supporting continued growth in both our international and FXGS business lines. Automated Solutions also performed well, delivering growth of more than 20% compared to the prior year. The EBITDA margin reached 12.4%, reflecting continued progress in our margin expansion initiatives despite some short-term headwinds in the ATM business. Let me now turn to the next slide to discuss our performance in the U.S. The U.S. segment delivered another exceptional quarter with revenue exceeding SEK 4.1 billion. Currency-adjusted growth reached a very strong 12.2%, partly supported by fuel price indexation. Our international business line delivered an outstanding performance driven by strong demand for the cross-border transportation of precious metals. At the same time, our Automated Solutions business line delivered another quarter of double-digit growth, contributing to strong organic growth across the segment. Our efficiency initiatives continue to deliver tangible results, enabling us to grow the business without increasing headcount, while maintaining high service quality and strong customer satisfaction. As a result, we delivered record operating income and the highest operating margin in the segment's history, demonstrating the scalability of the business and the strength of our execution. Let me now turn to the next slide to discuss our SME/Pay business. Revenue in the SME/Pay segment increased to SEK 90 million during the quarter, with nearly half generated from cash-related services provided to small and medium-sized businesses. We continue to see encouraging momentum in our combined cash and digital offering, winning contracts across additional business verticals, including sports arenas and healthcare. This new customer segment demonstrates the growing relevance of our integrated payment offering and our ability to support larger organizations with the efficient management of both cash and digital payments. The migration to new POS platforms enables Loomis Pay to focus on larger SME customers across a broader range of verticals. As part of this process, Loomis Pay has chosen not to migrate unprofitable customers, which has had a modest impact on several transaction volumes. The reduction in the operating loss compared to the previous year is fully in line with our strategic priorities for the segment. Let me now turn to the next slide and provide an update on our sustainability progress. As we mentioned during our Q1 presentation, Loomis became the first company in our industry to have its climate targets validated by the Science-Based Targets initiative in April. This represents an important milestone and a commitment that we take very seriously. We are already making good progress against those targets, continuing to deliver on our carbon emissions reduction plan. During the quarter, our use of HVO biofuel increased by more than 25% compared with the prior year. HVO now accounts for approximately 6% of our total fuel consumption. Combined Scope 1 and Scope 2 emissions decreased both year-over-year and compared with the previous quarter. Compared with Q1, Loomis reduced its combined Scope 1 and Scope 2 emissions by approximately 4%. Safety remains the top priority for us. As you know, our ambition is to reduce our work-related injury rate by 10% by 2027 compared with 2024 levels. On a rolling 12-month basis, we remain slightly above that target trajectory. Protecting our employees and further reducing workplace injuries remain key priorities for the company, and we will continue to maintain a strong focus on safety and continuous improvement. With that, let me turn to the income statement, where I'll begin by highlighting that we delivered both strong currency adjusted and organic growth. Our performance resulted in record high earnings per share. Our quarterly EPS grew by 30% compared to Q2 2025. During the quarter, we had a few items affecting comparability. The most significant was the reversal of the Burroughs earn-out provision, reflecting that the earn-out conditions were not met. We remain very pleased with both the acquisition and the multiple we paid. We also recognized the write-down related to an older software development project and recorded a small provision in connection with an ongoing claim in Chile. Finally, I would like to highlight that our net debt to EBITDA ratio improved year-over-year and remains well below our target of 2 x. Following the completion of the Hermes acquisition, leverage is expected to temporarily exceed this level before returning below 2x within approximately six months. Maintaining our investment-grade credit profile remains a key priority. As I mentioned earlier, we're pleased that Standard & Poor's reaffirmed our BBB credit rating with a stable outlook. With that, let's turn to the next slide and review our performance in a historical context. We continue to execute our strategic priorities while strengthening the platform for long-term profitable growth. Loomis is well-positioned to capture opportunities in both existing and new markets while continuing to make progress on our sustainability ambitions. Looking at the rolling 12-month period, we achieved a revenue of SEK 30.7 billion and a record high EBITDA margin of more than 13%, despite significant currency headwinds over the past several quarters. Currency adjusted growth reached 8.2% over the last 12 months, giving us confidence that we remain on track to deliver our strategic targets. We expect to remain in the upper half of our 12%-14% EBITDA margin target range for the remainder of the strategic period. As mentioned earlier, we're also making steady progress toward our 2027 sustainability targets. As we enter the second half of our strategic period, I'm confident that we will continue to deliver on our strategic priorities and achieve our targets. This concludes my summary of the quarter. Operator, we are now ready to take questions. We will now begin the question and answer session. Anyone who wishes to ask a question may press star and one on their telephone. You will hear a tone to confirm that you've entered a queue. If you wish to remove yourself from the question queue, you may press star and two. Questioners on the phone are requested to disable the loudspeaker mode while asking a question. Anyone who has a question may press star and one at this time. The first question comes from the line of Simon Jönsson from ABG. Please go ahead. Good morning, everyone, and thanks for taking my questions. I hope you can hear me well. First, I want to start with the U.S. and the performance that continues to be very impressive here. You highlighted a few things. You highlighted the organic growth may have been a little bit boosted by the price indexations for fuel costs. Do you expect those price increases to carry into the coming quarters, or would lower oil prices here mean that you would give back sort of the part of that growth? As you know, the fuel, we have what we say the matrix fuel included in the customer contracts. We don't predict how fuel is going to behave now, but we expect a stable trend till the end of the year. All right. That means that it should all else equal continue to be positive for the organic growth coming quarters. It will. That's what we estimate till the end of the year. Yes. Yeah. All right. Follow up on that topic. Given the strong margins also in the U.S., was that impacted by the price indexations or was it more driven by just the regular ongoing business? We had a bit of a problem to hear your question, Simon. Can you repeat it? Yeah, sorry. In terms of margins, was that also impacted by the price indexation? No. The fuel fee matrix is just to cover the potential risk that we can have with the prices of fuel going up or in our P&Ls. No. The U.S. margins are just showing the trend that we see in the last quarters, and we expect those to continue during the rest of the year. Perfect. On international revenues are plateauing a bit here, I'm assuming. How was the growth through the quarter? Did you see any deceleration trend through the quarter coming into Q3 at a lower base, or was it more stable through Q2? You know that Q1 was a very strong quarter for us on international, and at the beginning of the quarter, it remained strong. In the middle of the quarter, it slowed down a little bit, and it came up again during June. We expect the international business line to remain at this level at least till the end of the year, though you never know with the uncertainty and the volatility. We do expect it to remain at the levels that they are today. Excellent. Thanks for that. Just a final one from me on M&A. You have been very active here in Latin America, in line with what you have been targeting and wanting to do, which is good. I'm curious what potential is left for you there in Latin America. You still have relatively low market shares in Chile and Argentina, but you also have big competitors there. You tend to prefer to be a number one or two player, right? Now you are number three. What's your outlook on that? The first thing is it's very difficult to become number one or number two there because there's a big difference between our competitors and us. Just bear in mind that today, Latin America represents 1.5% of our revenue. With the Argentinian acquisition, that could go up to 2%. If we conclude the Hermes acquisition, which we expect, the weight of the LatAm business could be between 5% and 6%, which is still very low compared to where our competitors are. I don't foresee us occupying that first or second place, but we just want to keep growing there because, again, it's an attractive market with a lot of growth opportunities there. It's a way of spending in places where cash is still strong. All right. Excellent. That's all for me. Thank you so much. Thank you, Simon. Thank you very much. The next question comes from the line of Dan Heimer from SEB. Please go ahead. Yes. Hi, everyone. Thanks for taking my questions. Circling back a little bit on Simon's question on fuel. I would assume it's a net negative in this quarter, in terms of the profitability, at least. Can you remind me the fuel impact in Europe? Do you have a view on the margin impact from that? Also, have you implemented sufficient price increases now during Q2 to offset that negative margin development, or where are you in terms of price increases in general, in Europe right now? Thank you. Morning, Dan. Thank you for your question. I think it's important to understand that we could say that on a global basis, 60% of our businesses is protected from fuel price increases. The remaining 40%, which is mainly on the European side, that is up to individual discussions with customers, due to clauses of extraordinary things happening in the contracts. We're negotiating those as we speak and every day. At least we are comfortable with having at least 60% covered through these fuel matrixes. Okay. Perfect. Were you at price increases with customers in general on top of that then, or was it only related to fuel? No, also in general, where are you in terms of price increases? Are you sort of on the curve because Q2 is typically an important quarter in terms of setting prices in Europe for the year, I guess. I didn't. Sorry, can you repeat the question, please, Dan? I didn't hear you well. Sorry for that. I was just referring to price increases in general as well. Are you on the curve now in Europe in Q2? Yeah, because it's typically an important quarter for price increases. Yeah. It's important to understand that the bulk of the price increases in the European contracts are at the beginning of the year, January, February. Of course, in the negotiations we actually have with customers, if we're not capable of transferring part of that cost, then we will include that in the price increase for next year. Great. Understood. Maybe touching a little on SME/Pay. It was a very strong quarter in terms of revenue development. Is it more that you expand CMS, CIT and SafePoint across new smaller businesses that you have taken on? Or is it rather the digital offering through Loomis Pay that's growing here? As we outlined at the capital markets day, you need to see Loomis Pay as part of a broader SME offering. In that comprehensive value proposition for the SMEs, cash remains still a critical component, and Pay just complements that ecosystem. Yes, we've got all the CIT, CMS, Automated Solutions. We're including all our solutions in the bundle offer to the customers. It's more of the integrated offering across all business lines that explains the growth in this quarter, which seems on quite good levels right now. Correct. Yes. Maybe final one. You touched a little bit on Hermes. Remind me of the timeline. You're launching the offering now in next month, in August. If everything goes well, it's closure quite immediate, right? When do you expect to have it in the books, sort of speaking, everything goes according to plan? We're launching the public offer now during August, and if everything goes according to plan, at the beginning of Q4, we will close the acquisition. Okay, perfect. That was all from my side. I'll jump back in the line. Thank you very much. Thank you, Dan. Thank you. The next question comes from the line of Viktor Lindeberg from DNB Carnegie. Please go ahead. Yes, good morning. Thank you. Looking firstly at the U.S. business, congratulations on the strong performance both on the top line and the margins there. Trying to understand and trickle out the margin drivers, you obviously have the Burroughs integration, you have the operating leverage from the cash business, you have the international business as well. Firstly, Burroughs, maybe at least compared to my notes, the revenue momentum has been a bit slower. Maybe you've been focusing on integration profitability first instead of growth. Can you first, in light of the margin drivers, comment a bit on the progress with Burroughs here? I think with Burroughs, Viktor, we need to understand what we acquired. Burroughs was suffering a lot on service quality, and they were losing important contracts when we acquired them. The first thing there was to try to stabilize all that. We've been working on that. I think that they have been even growing. We stopped the bleeding on the revenue side, on top of that, we did grow. Right? Now, it's still early stages with them. It's a new line of work for us, for Loomis. It's more technology-driven with technical services. We still believe it's the perfect fit for us. First, we need to fix the quality issues and ensure that we have an excellent service. Once you achieve that, then it's about improving the efficiency and improving the margins. They have supported the growth in the U.S. Aside from that, the other drivers I think you asked about for the quarter, as you mentioned, it's Automated Solutions with double-digit growth again, and the international business being stronger. I would say on the margin side, it's important to understand the work on increasing the operational efficiencies that is being done there. There's been significant progress in the last quarters. On efficiency, is it the density in the routes that you can leverage more? Is it lower employee turnover? Or what are the key ingredients here for lifting an already good margin level? It's both on transportation and on the CMS rooms. It's about improving the flows of our processes, working in a different way on the different products that we provide. On the transportation side, it's about being more efficient, which also helps to reduce the fuel usage as well. Okay. Maybe this is not fully correct because you have some integration of the Burroughs revenues in some of the business lines. Looking at CMS, to my calculations, it looks like you now are operating with a flat revenue line the past three quarters, so not really growing, but maybe having focused on efficiency. Would you say that is a fair picture and that the emphasis going forward would be to reignite growth within CMS, or how should we look upon that? You're completely spot on. We do expect the CMS area to grow in the near future. Perfect. Jumping to Europe and what we have seen in the past couple of quarters, having been the lower ATM revenues still being down by the double digits in Q2 as expected in my book. We now, going into Q3 and Q4, start facing, call it, easier comps. They should be largely out of the picture. For that reason, my question here is, looking at the contract portfolio going into Q3, how does that look? Have you been facing additional contract losses that we should be mindful, looking into cash trends for ATM volumes in Q3 and Q4? Simply on the basis of leaving the comps, are we looking back to growth now? It's a long question. Let me take it step by step. If you look at the second half of the year, growth would look positive for Europe. We have the seasonality coming in in Q3, and despite having strong comps on the international side, we expect the second half to be a good half for international as well. We don't foresee that. On the ATM side, probably we expect it to be a bit more flattish, slightly increasing a little bit. Hoping that next year we have a better year on the ATM business line in Europe. Okay. Got it. The mix effect on, I'm looking at margins now and the EBITA margin in Europe here, because you have the operating leverage, you have the strong growth in Automated Solutions and a slight potential recovery needing ATM. It should be quite beneficial when we look at the operating leverage, or is this tainted as the previous question on inflation and more so on fuel? It looks positive, and as I said during the presentation, you can see that we talked about having an EBITDA margin between 12 and 14 annually. We talked about being on the upper part of that range at the end of the strategic period. You saw that on a rolling 12 months, we are at 13.2. What I can tell you is that we will remain on that upper half for the remaining strategic peak. Thank you. Viktor, Q3 and Q4 are strong European seasonality quarters as well, that you know from the past. Yep. That's clear. This is maybe an early question to ask. We've had very big heat waves so far in July. We're talking about cash usage, cash in circulation, but also how that may affect behavior in Europe. Is that something that we should be mindful here of when looking two, three months ahead and closing this quarter? Could that be an impact on consumer behavior in your book? No, I don't expect any significant impact because of that. I think e-consumption will behave the same way as in past years. Very good. Final question for you, Johan. I think on the financial net, there were a couple of cost items in the financial net relating to refinancing. Is there anything else we should be mindful here? Given the strong financial position you have and the interest rate levels, it should be lower financial net costs going forward. Is that a fair assumption? It's at least stable going forward. As you allude to, we had some refinancing cost in the quarter, and also compared to a Q2 of last year where we had a bit of a one-time positive FX effect. That's why you have an increase this quarter. I don't expect that trend to go on. That's clear. Thank you so much. Ladies and gentlemen, that was the last question. I would now like to turn the conference back over to Aritz Larrea for any closing remarks. Thank you. Before we end today's call, I would also like to take the opportunity to thank Johan Wilsby for his professionalism, dedication, and valuable contributions to Loomis. As this is his last quarter with us as Chief Financial Officer, I would like to wish him every success in his future endeavors. Thank you all for joining us today. If you have any follow-up questions, please don't hesitate to reach out. I wish you all a wonderful summer. If we don't have the opportunity to speak before then, I look forward to speaking with you again when we present our third quarter results. Thank you.