Operator

Good day, and thank you for standing by. Welcome to the Nobia Q1 Report 2026 Conference Call. [Operator Instructions] Please be advised that today's conference is being recorded.

I would now like to hand the conference over to your speakers today, Kristoffer Ljungfelt, CEO; and Robert Belkic, CFO. Please go ahead.

Kristoffer Ljungfelt
CEO & President

Thank you very much, and good morning, everyone, and welcome to Nobia's Q1 update.

Let's take the first slide, please. Q1 has been a really defining quarter for Nobia as we reached several key milestones that strengthen the company and set a clear direction going forward as the #1 kitchen powerhouse of the Nordics. During the quarter, we completed the divestment of our U.K. operations and carried out a share rights issue with strong support from our shareholders and main owners. In addition, we also put our cost saving program into action with benefits expected to start coming in through from Q3, and we signed a new loan facility with our lenders and long-term partners. These achievements required a great deal of effort. And on behalf of the company, I would like to sincerely thank our employees, our shareholders, our main owners for their support in the rights issue and our lenders for their continued trust and long-term commitment.

Performance for the quarter was largely in line with expectations against the backdrop of continued soft market conditions. Demand remained at historically low levels with volumes broadly flat year-over-year. However, and importantly, we saw a