Operator

Good day, and thank you for standing by. Welcome to the Mips Interim Report Q1 2026 Webcast and 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 speaker today, Max Strandwitz, CEO. Please go ahead.

Max Strandwitz
CEO & President

Thank you, operator, and good morning, everyone. My name is Max Strandwitz, and I am the CEO of Mips. With me today, we also have our CFO, Karin Rosenthal, and we will take you through the interim report of the first quarter.

So if we look at the key highlights of the quarter, Q1, it was a strong start of the year, 30% growth in the first quarter if we adjust for acquisition and impact of ForEx, we did deliver an organic growth of 25%. We did see growth in all our 3 categories and all of the key regions. We did acquire the Koroyd business in December last year, and that has been well received in the market with a lot of interest for their products. The sales development as Mips has a very scalable business model, we see with the strong growth that we see, we also had a good improvement of the profitability.

And if we look at our adjusted EBIT in the quarter, even though historically, Q1 is the smallest quarter of the year, it's one of the best Q1s that we ever