Maria Forss
President & CEO

Hello, and welcome to BICO Group's Quarter 1 2026 Earnings Call. I'm Maria Forss, President and CEO, and I will together with BICO's CFO, Ewa Linsater, present this interim report.

Here is today's agenda. I will open today's session by summarizing quarter 1 2026 and also describe how BICO serves the world's leading pharma and biotech companies with solutions that transform how labs operate, innovate and solve our customers' challenges.

Following that, Ewa will present the group's financial performance. I will then comment on our R&D pipeline with our ongoing product development efforts. Additionally, I will highlight some recent and upcoming product launches. The session will conclude by highlighting our focus for 2026 before we open up for Q&A.

A strong start to the year with 11% organic growth, navigating in a dynamic market still affected by geopolitical uncertainty and a weak academic funding in the U.S. Due to continued currency headwinds, our total reported growth was negative 1.4%. All numbers presented are in million Swedish kroners, unless otherwise stated.

EBITDA was negative SEK 42 million with adjusted EBITDA of negative SEK 11 million and the difference is mainly related to our restructuring cost of SEK 52 million, of which SEK 30 million affected EBITDA.

Cash flow from operating activities totaled SEK 47 million. BICO successfully issued senior secured bonds of EUR 40 million and the new capital puts us in a position to support further growth and capture market recovery while navigating ongoing