Katariina Hietaranta
Head of Communications, Sustainability & Investor Relations

Good morning, everyone, and welcome to Kamux's Q1 Results Information session. My name is Katariina Hietaranta, and I'm Head of Investor Relations at Kamux. We have today our CEO, Juha Kalliokoski; and CFO, Enel Sintonen, presenting our quarter 1 results. And after the presentation, we shall hold a Q&A session. We shall first take the questions from the teleconference line, followed by questions from the audience here as well as via the webcast chat.

Thank you. Please go ahead, Juha.

Juha Kalliokoski
Founder, CEO & COO

Thank you, Katariina. Good morning. Let's get started. Let's take a quick look at our agenda today. As usual, we will begin with an overview of the quarter. Then, take a look at the market development, looking at each operating country separately. Then Enel will present our financial development in more detail. And as usual, we will finish with a Q&A session.

As it was last year, our focus during Q1 was on profitability. We succeeded quite well and gross profit improved significantly despite a negative volume development. Following this, adjusted operating profit improved but was still negative. Cash flow for the quarter was lower than last year. This is directly related to the very different starting position with our stock. We started the year quite a low stock as planned. And towards the end of the quarter, we increased our inventory.

Revenue from integrated services was EUR 12.7 million, which is 6.2% of