Operator

Welcome to Surgical Science Q1 Report 2026 Presentation. [Operator Instructions]

Now I will hand over to the speakers, CEO, Tom Englund; and CFO, Anna Ahlberg. Please go ahead.

Tom Englund
Chief Executive Officer

Hi, everyone, and welcome to this earnings call for Surgical Science for the first quarter of 2026. My name is Tom Englund. I'm the CEO. And with me today, I have Anna Ahlberg, our CFO.

So we'll start with a walk-through of quarter 1 and the numbers, and then we'll open up for questions.

So quarter 1 is a quarter with 2 stories running in parallel. On the surface, reported sales are down 6% to SEK 236 million. But once you strip out the currency headwind that we had and the dollar moved significantly against us, the underlying business grew by 4%. And if you look at cash flow, we generated SEK 65 million from operations, which is a very strong number and significantly better than the same quarter last year. So the business itself is in good shape.

Adjusted EBIT came in at SEK 28 million or 12%. That's in line with last year. And when you adjust for currencies, it's actually around 16%, right at our target level. So the headwind here is, as with the revenue, almost entirely a currency story and not an operational one. Throughout the quarter, we're executing on the strategy we laid out at the Capital Market Day in December, and I feel good about where we're headed.