Toni Laaksonen
Chief Executive Officer

Good morning, everyone and welcome to the Q1 Investor Call from FLS. My name is Toni Laaksonen, and I will be presenting today with our CFO, Roland Andersen. And we start from the Q1 highlights.

So, first going to the market and commercial highlights. On the service and PCV side, we saw very strong development with our organic growth. So in both business lines, the order intake was growing with double-digit numbers. With services, we captured 19% organic growth compared to last year and with PCV, 16%. So very strong development, which reflects that the market activity remains high at the brownfield sites.

Then with the products, we saw a different development. There, the market is more like subdued, and we didn't capture growth. The order intake was declining compared to last year, but still the underlying market activity remains positive.

Then when going to the revenue figures, our revenue declined organically by 7%, and that was driven by the timing and order mix based on the recent quarters. On the profitability side, we saw positive development compared to Q1 '25. So our EBITA margin percentage increased, and it was 15.2% in Q1, and it was in line with our financial forecast for this year. Then with the cash flow, we saw satisfactory development. So the cash