Fredrik Ruden
Group Deputy CEO & CFO

Good morning. Welcome, everyone, to EG7's First Quarter Earnings Release. My name is Fredrik Ruden, Deputy CEO and CFO. And with me, I have my colleague and the company's CEO, Ji Ham. We will start with the presentation and then end with a Q&A session. And if you have any questions, please e-mail our Investor Relations e-mail address. By that, I hand it over to you, Ji.

Ji Ham
Chief Executive Officer & Director

Thanks, Fredrik. Good morning, everyone. Thank you for joining us this morning. And let's go to the first slide. We'll start off with our first quarter key performance figures here.

For the first quarter, we came in with SEK 345 million of net revenues. That's down 24% in SE year-over-year, 13% organic in local currencies. Adjusted EBITDA came in at SEK 51 million, down 31% compared to last year, and EBITDA margin came in at 14.8%. That's 140 basis points lower than last year's numbers. Net profit-wise, we're returning to profitability with SEK 21 million of net profit compared to a loss of SEK 18.5 million last year and operating cash flow is strong with 5x the multiple compared to last year, coming in at close to SEK 90 million and EPS on a diluted basis of SEK 24 -- SEK 0.24.

Next slide, please. So here, we showcase the net revenue bridge from last year to this year. So we wanted to demonstrate some of the key components that contributed to that decline. Underlying business is stable, but there's 2 major components that reduced our revenue for year-over-year. The first part