Operator

Ladies and gentlemen, welcome to the Loomis Quarter 1, 2026 Conference Call. I'm Lorenzo, the Chorus Call operator. [Operator Instructions] At this time, it's my pleasure to hand over to Aritz Uribiarte, President and CEO. Please go ahead.

Aritz Uribiarte
President & CEO

Thank you very much. Good morning, everyone, and welcome to the First Quarter 2026 presentation for Loomis. My name is Aritz Uribiarte, and I'm the CEO of Loomis. And with me here today, I have our CFO, Johan Wilsby, and Jenny Bostrom, our Head of Sustainability and Investor Relations. I'll start by providing a quick summary of our first quarter before opening for questions.

Let's start the presentation by turning to Slide #2, We delivered a strong first quarter with revenues close to SEK 7.5 billion despite an 11.6% negative impact from changes in exchange rates. Currency adjusted growth reached 9.7 -- sorry, 9.3% with both strong organic growth and contribution from acquisitions.

During the quarter, we saw very strong growth within the International and FXGS business lines, driven by increased trend for the movement of precious metals, partly due to geopolitical uncertainties. We also continued to deliver strong growth in our Automated Solutions business line.

We increased our EBITDA margin by 1 percentage point year-over-year to 12.6%. This represents our highest first quarter margin to date, and I'm pleased to see that the restructuring and efficiency initiatives we have implemented support the margin expansion.

We delivered another quarter of strong operating cash flow with