Emma Nordgren
IR & Communications Manager

Welcome to the presentation of Swedencare's Q1 report led by our CEO, Hakan Lagerberg; and CFO, Jenny Graflind. And we are pleased to have our CEO of Europe, Laszlo Varga, joining us with the presentation during today's webinar. And as usual, we will have a Q&A after the presentation. So please raise your hand if you have any questions. Over to you, Jenny and Hakan.

Hakan Lagerberg
Chief Executive Officer

Thank you so much, Emma. Warm welcome for our Q1 2026 presentation. We had a solid quarter, starting the year good, double-digit growth, improved gross margin compared to Q4 and '25 and increased profitability as we expected and communicated with our pre-call late -- earlier this year.

Margins and sales still impacted by NaturVet Amazon project and the takeover. It is improving month by month. We target that the normalized levels will be in H2 2026. The other issues we had in Q4 mitigated. And we're happy that we could deliver that as we also communicated. Strong momentum, especially in Europe and production segments with 20% organic growth.

And in different growth groups. Pharma we have been waiting for both development and manufacturing had a fantastic quarter. Dental, including Dental Month in U.S. predominantly, but it has been presented in Europe as well in some markets, really strong demand for dental product and also online overall, of our brands continue to grow faster than we do