Fredrik Dalborg
President & CEO

Good morning, everyone, and a warm welcome to the AddLife first quarter presentation. As usual, we will be going through the developments in the different parts of the business, as well as the financials, and after that, open up for questions. After the Q&A session, we have prepared a video from one of our subsidiaries, this time around, BonsaiLab. So we do encourage you to stay on to listen to that very interesting video.

So let's move on to the highlights of the quarter. So in the first quarter, we're pleased to note that these high margins continue and at the same time, we are increasing the acquisition activity. The EBITA margin remained high at 12.5%, only slightly below the very high levels of Q1 in 2025. In Labtech, which had a really strong quarter, we saw an increase of 1 percentage point to 13.1% margin, very, very strong. On the Medtech side, we were able to retain almost 13% EBITA margin, even though it's slightly below the record level of 13.5% in Q1 of 2025.

The underlying demand in all businesses is quite solid. And if we exclude the divested endoscopy business in the U.K., we saw an organic growth on a group level at 3%. It's also worth to note that we had a fantastic finish to 2025. So the start of the quarter was somewhat more cautious, but towards the end of the quarter, the demand picked