Operator

Welcome to the AAK Q1 2026 Report Presentation. [Operator Instructions] Today's event will last for 45 minutes.

Now I will hand the conference over to the speakers CEO, Johan Westman; and CFO, Tomas Bergendahl. Please go ahead.

Johan Westman
President & CEO

Good morning, everyone. Thank you for joining us, and thank you for your interest in AAK. As you heard, with me here today to review our first quarter results is our CFO, Tomas Bergendahl.

Please turn to page or Slide #2. Today, we will cover quarterly highlights, selected events and the business and financial update, followed by concluding remarks. This presentation is scheduled for 45 minutes in total, including questions and answers at the end.

And with that, please turn to Page #3, regarding forward-looking statements. This presentation includes forward-looking statements that come with risks and uncertainties. These are our views on future events and financial performance, but actual results may differ.

With that, please turn to Slide 4, quarterly highlights. We delivered a solid start to the year with both organic volume growth and continued strong profitability. As expected, currency translation had a negative impact on reported figures. Operating profit increased by 11% year-on-year at fixed exchange rates. Including currency effects, growth was more modest at 2%, reflecting the headwind from FX during the quarter.