Hello, welcome to today's broadcast with Nolato, who will be presenting their financial report for the second quarter of 2026. With us, we have the CEO, Christer Wahlquist, and CFO, Per-Ola Holmström. If you wish to ask questions, you can do so via the form found to the right of the broadcast. If you're calling in and would like to ask a question, press star nine to raise your hand and star six to activate your audio once you've been given the word. With that said, I hand it over to you, Christer and Per-Ola. The floor is yours. Thank you, and welcome to the presentation of the second quarter for Nolato Group. Starting on page two, we saw a quarter with growth in both business areas, with a total growth of 4%, currency adjusted, with the strongest growth in the medical business area. This was achieved in a difficult environment, I would say. Sales ended up at close to SEK 2.5 billion in the quarter. That was 4% adjusted currency growth. The profit, EBITA, ended up at SEK 247 million, creating a margin of 10.1%. The margin was affected by increased raw material prices and some startup costs for new programs. Strong cash flow in the quarter ended up at SEK 287 million. As a total, we have a very strong financial position enabling us to deliver on the intensified acquisition strategy as communicated previously. Turning to page three, summing up the group. Nolato consists of two business areas that create synergies across. Both business areas are working as a development and production partner for leading global customers. On page four, we see a summary of Medical Solutions' development over the last 20 years. We have seen a continuous sustainable growth and built a global expansion. On page five, we see a summary of our focused product areas. As mentioned previously, we see growth opportunities across, of course, with some different driving forces, but we see good potentials across the board. We will continue to deliver on the long-term growth of the business area. On page six, we summarize up the second quarter for Medical Solutions. The sales ended up close to SEK 1.4 billion in sales. That is, of course, a growth of 4% if we adjust for the currency. We saw good development for the in vitro diagnostic market segments. We saw also continuous growth in the drug delivery systems and across the other market areas, we saw stable volumes. The EBITA margin ended up at 11.7%. We saw some negative impact from both raw material price increase driven by oil prices. In that sense, we have a time lag before we can adjust to our customers. We will adjust that going forward. We saw a negative impact in the quarter from startup of new programs or projects that have not reached the volumes. That is, of course, these projects are part of supporting our growth targets for the medical business area. The expansion in Hungary linked to the new customer contract is proceeding according to plan. We have started commercial volumes produced in the end of the second quarter. After the quarter, we have started deliveries of commercial volumes. We will gradually increase our capacity according to previously announced schedule. Jumping into Engineered Solutions on page seven. Here we see also a summary of the last close to 20 years for the business area. On page eight, we summarize up the focused product areas for Engineered Solutions. Here in this area, we have four of these areas, consumer electronics, automotive, hygiene, and others are sort of similar in the business scope. Then we have the materials part that is a little bit different, where we have our own developed material solutions for shielding and thermal management. That area, we saw strong growth in the quarter. Jumping to page nine, summarizing the second quarter for Engineered Solutions. We ended up at the sales of close to SEK 1.1 billion in the quarter. That was a 3% adjusted growth in the quarter. Supporting that was our strong growth for the materials, which by itself reached a 19% organic growth in the quarter. We also saw sustained growth in consumer electronics with an increase in smart home products. In the quarter, we also had lower volumes in the hygiene area affected by inventory adjustment and lower market demands. Automotive contracted as expected. Summarizing this, it created a margin of 10.3%, and we saw a negative impact from the price increases, the raw material, similar to the Medical, but also a favorable product mix with a higher proportion of materials sales in the quarter. Good morning, Per-Ola Holmström, CFO. Group financial highlights on page 10. Net sales was SEK 2,454 million in the quarter, a 4% growth. Less currency headwinds than recent quarters. On group level, 1.5%. Operating profit EBITA amounted to SEK 247 million compared to SEK 277 million. The EBITA margin was 10.1% compared to 11.6%. Negatively affected mainly by price increases for raw materials, driven by higher oil prices. The effect is estimated to almost SEK 20 million, most part within Engineered. As planned, during the first six months, we have had resources ahead of starting production and during ramp-up in a number of projects negatively affecting Medical, estimated to almost SEK 10 million in the quarter. On group level, a one-off severance cost affected by SEK 6 million in the quarter. Net investments decreased to SEK 133 million compared to SEK 188 million. As planned, most of the CapEx for the Hungarian expansion is paid. As we have commented earlier, CapEx will be on a lower level going forward. SEK 600 million-SEK 650 million is expected for the full year. Cash flow after investments was higher, SEK 154 million compared to SEK 128 million. Net financial liabilities, excluding pension and lease liabilities, totaled SEK 1,055 million, resulting in net financial liabilities in relation to EBITA of 0.7 x, giving flexibility. Return on capital employed decreased to 13.3% compared to 14.2% for the full year 2025, as the profitability was slightly lower. We now have a balance sheet loaded for higher speed. Turning to page 11, focusing on the current situation. If we start with the Medical Solutions business area, we have, of course, the continued growth strategy, higher market activity. We feel that across the board. We have built that on our broad customer base with the long-standing close customer relationships. We see that the major client contracts confirm the overall strategy, and we have started commercial production as in our Hungarian establishment. The establishment of operation in Malaysia and expansion in Poland is also creating opportunities going forward. On the Engineered Solutions side, we have advanced our market position, not least in the consumer electronics. We have established position in new product areas and focus on innovative and sustainable solutions. We see success in new products and technology areas, mainly data center, that is positive for materials. Of course, the expansion of operations in Malaysia is also supporting the long-term development of Engineered Solutions. Overall, we have a favorable financial position that enables our intensified M&A agenda. We will now open up for questions. Thank you for that presentation. We now open up for our Q&A session. As a reminder, if you wish to ask questions, you can do so via the forum found at the right of your broadcast. If you're calling in and would like to ask a question, press star nine to raise your hand and star six to activate your audio once you've been given the word. We'll begin with Adrian from ABG. Yes, hello and good morning. Just from my end, before moving into the segments, a question on the group costs. Even if we remove the SEK 6 million in severance pay, the group costs would still have been at a significantly elevated level compared to your usual run rate. Can you just mention what drove this and if this is something that will revert in coming quarters? I would say that if we look on the actual for this quarter and compare with the actual previous quarter last year, I would say last year was at a low level. This year was at a high level. If you would combine them, I would say that is more the normal level. By doing that, we have the extra SEK 6 million, as you say, on top of that. We have had a quarter where our intensified M&A agenda also has had some cost in this quarter. That is explaining the high number this quarter. Okay, understood. Then you mentioned the SEK 20 million impact from the higher input costs. Do you expect to have raised prices to fully offset this already in Q3? Do you think there could be some lingering effects from higher input costs still in Q3? We do see some of these costs also affecting the third quarter. We assess that we have taken two-thirds of that effect in this quarter, the rest will come in the beginning of the third quarter. Okay, that's very helpful. Then perhaps just a status update on the GLP-1 deliveries in Hungary maybe for the second half of the year now that commercial deliveries are up and running. What sort of ramp-up pace should we expect from here? As we communicated when we announced this new program, we said that we will have a starting point in the second quarter of this year, then a gradual increase for some years, and reaching the full volume somewhere in 2029. How exactly that will come in different quarters, it's very difficult to say because we are, of course, starting the production, ramping up, and continuously adding new capacity over that period. I understand. Can you at least help us if it will be sort of lumpy in stages or whether it will be more of a straight line ramp-up? It will be not a straight line, but more you can take a line and then, of course, different quarters will be affected a little bit. It's more of a line than lumpy jumps. Okay, understood. A final one from me, more on a broader note regarding the materials business. Now that you are back to significant growth, is there any sort of capacity cap for this business? How long can you sustain growth in this business before you need major investments? This area is light on the investment compared to the rest. It's not big jumps in capacity increases that it's needed. It's more easy on the growth side from the capital side. Okay. No real endpoint of when you need to start investing again. This can grow for quite a while, it sounds like. Yes. On the material side, it's light on the investment. Okay, understood. In that case, that's all from me. To Christer, I wish you all the best going forward. Thank you very much, Adrian. Thank you so much. For our second speaker, we will let the number who ends in 1,008. Thank you. This is Oscar Rönnkvist from SEB. Good morning. First, I had a question on the product ramp-up in Medical, which had a drag on, I think you said SEK 10 million. Just wanted to know if you had any comments on the timing. Will that be gone now in Q3, or should that still be the case with this SEK 10 million drag in the coming, let's say, one to three quarters? The situation during the first half year has been affected by different projects, as we say. Of course, starting the production in Hungary, that will support going forward in that, and some of the others will also increase in volumes going forward. There will be effects on the margin in a way doing that. For these projects, we will not have, let's say, the targeted margin near time. That will come gradually over time for these projects. The situation will ease up going forward gradually in small steps. Perfect. Just also follow up on the oil price implications here. You said that around two-thirds, and it was, I think, SEK 20 million now in Q2, the effect. We could expect SEK 10 million in Q3, after that should be over. Is that how to interpret? That is our estimation if the situation will calm down in Middle East and we won't have any new spikes popping up. Perfect. Just because the oil price obviously has come down a bit, could you see any sort of positive effects when that reversed and that you have raised prices for some of your customers and that you could have a short-term boost if plastic prices comes down a bit? No, we don't see that yet. It's still a large uncertainty in the market, and there are many other effects affecting the pricing picture, and we haven't noticed any downturns yet. Understood. Just the final one. Sorry for the detailed questions here. Again, on the group function, EBITA here. I think the difference sort of on an average level in H1 versus last year looks to be around SEK 10 million, and you say that it's in the sort of middle of that. Is it fair to say that this quarter was maybe elevated by approximately SEK 5 million on group function level and that's due to M&A activity? Well, of course, there are different things fluctuating a bit. That is one, maybe the main reason of the difference you mentioned. Yes. All right. The magnitude is sort of approximately in the right area? Yeah. Perfect. That was all for me. Thank you very much. I wish you all the well, Christer. Thank you. Thank you so much. We have some questions from chat, and one of them is that the increased administration costs, what is the effect of those, and will they be frequent going forward? I think we have commented on the administration increased cost already. It is linked to the severance cost. It is linked to M&A activities and some others. That is naturally, of course, something that hits the administration cost line. Thank you so much. Going forward, Christer, this is your final interim report as CEO after more than a decade in the role. How would you describe Nolato's position today, and what gives the confidence in the company's future on new leadership? Oh, that's a very nice question. Yes, during my 10 years as a CEO of Nolato, we have developed the group to a true global player in both business areas. We have changed our positioning from more a production partner to a development and production partner. I'm fully confident in the potential of continuous growth and increased margins, delivering on our financial targets going forward. In the new leadership, Anders, I have had the opportunity to work with him for many years. I think I hired him three, four years ago. I have full confidence in his ability to take Nolato to the next level. Thank you so much. We can continue with some more questions. For example, the EBITA margin declined to 10.1%, mainly due to higher oil-related raw material costs. How quickly do you expect these cost increases to be passed through to customers? Yes, as we commented, we do see that we have one-third of these cost effects still coming in the beginning of third quarter. It should be handled by us. If the pricing situation is stable after that will be it, so to say, then we're through. Thank you. Let's see. Well, that was today's last question. With that, we wrap up today's broadcast. We'd like to extend a real big thank you to Christer and Per-Ola for the presentation, as well as to everyone who submitted questions and watched today's broadcast. I wish you all a continued pleasant day and also a great weekend. Thank you all.