Thank you. Thank you very much, and well welcome to today's conference call where we will present Byggmax Group's interim report for the second quarter of 2026.

As you heard, I'm Karl Sandlund, CEO, and with me is Helena Nathhorst, our CFO. As usual, the presentation is available on our website, and we will refer to relevant pages during this call.

I will start with a short business update, and then we Helena will review the financials. After the presentations, there will be a Q&A session, as usual.

Let's start and move into the presentation, and please go to slide number two. The second quarter marks the beginning of our high season, and our sales follow a clear seasonal patterns as as you know.

It means that sales in the in the second and third quarters are significantly significantly higher than in the first and fourth. After spring preparations across the entire Byggmax Group, the transition from low to high season was well executed, and our operation performance during the quarter has been strong.

We improved our profitability compared to last year with an EBITDA margin in the quarter of 12%, up from 10.8% last year, and we continue to have a very strong financial position. It continues to be a market with large variations, high demand for categories related to smaller projects, while larger projects and renovations are still more challenging.

All in all, our sales increased by 2.9% compared to last year, including positive effects from currency exchange rates. Helena will come back to the financials and give more details in a minute.

Again, a quarter with strong operation performance, improved profitability, and a solid financial position. This makes us well prepared for the rest of the high season.

At the same time, we are continuing to develop Byggmax to enhance customer value and to further support long-term growth. Before we continue with the business update and the financials, please on slide three, a brief overview for those who might be less familiar with us.

We were founded back in 1993, and has now grown to 211 stores across four Nordic markets. We serve primarily consumers with a clear focus on building materials for home maintenance.

We have high product availability in our stores. In addition to the Byggmax brand, we operate Right Price Tiles in Norway, focused on tiles and bathroom, and Skånska Byggvaror offering products such as conservatories and and greenhouses.

We are built for fast and easy shopping, and our drive-in concept makes it convenient to purchase heavy building materials, while our efficient e-com enables customers to large order large volumes for Click & Collect or or home delivery. At the core of our model is commitment to the best price, and this is enabled by large-scale purchasing and a highly efficient operating model across the entire organization.

On slide number four, we have a brief update on the macro environment. The overall Nordic consumer market has been in a cautious recovery, with some retail indicators pointing to a more active consumer.

At the same time, consumer confidence remained well below normal. Households remain cautious about personal finances and major purchases, suggesting still a subdued market environment.

For building materials, the market showed large variations underneath. Customers are doing projects, but they are selective and more focused on on smaller projects.

Some categories are performing well, such as garden and and outdoor, while timber and heavy building materials remain weaker. This leads to mix effect, and our exposure to heavy building materials give a lower overall growth.

A year ago, in Q2 last year, the effect was the opposite. Turning to our priorities for the quarter, starting on slide number five.

As mentioned in the beginning, at at this time of the year, operational execution becomes one of our most important priorities. Summer is significantly larger than the winter season.

We have more customers in our stores, more deliveries, and very large volumes of material moving through the the whole chain. In this period, even small operational issues can quickly have large impact on the customer experience, and that is why availability, replenishment, and staffing are are so important.

As mentioned, our operation performance has been strong in the quarter. We have recruited and trained many new employees for our stores, and at the same time, we have built up inventory in an efficient way, which supports strong product availability.

In total, our inventory value is slightly higher than than last year. Overall, we are pleased with how operations have been carried out during the quarter.

Good product availability and stable supply have given us good position to to meet demand. At the same time, as we focus on operations, we are building further on on our commercial capabilities.

If you move to slide number six. We have a very strong customer position.

Brand awareness is at 93% in Sweden, and our store Net Promoter Score reached 68 in Q2. Customers not only know Byggmax, they also appreciate the experience when they visit us.

During the quarter, we have continued to build on on that foundation. One example is our new customer program, which will be developed step-by-step together with our customers, with a clear ambition to further simplify their customer journey and increase relevance and and build a stronger customer customer base over time.

We have also strengthened our marketing function by moving into more data-driven setup with clearer channel priorities and a more systematic follow-up. At the same time, we are enhancing our commercial activation and have more sales focus.

In selected seasonal categories, we have seen example of how adjustments in rate mix and and exposure can steer sales towards products with with higher customer value. This is this is relatively early in progress, but the direction is is important.

We are also enhancing our sales channels, see slide number seven. In stores, we continue to raise the baseline through clearer seasonal areas and and better product placements.

This is an effect that will come over time, but ambition is to make it easier for customers to find the right products and to complete their projects. We are also continued to develop our store footprint.

In Stenungsund, Sweden, we reopened after almost 3 years with an updated stores store with a new flooring department and and our signature drive-in yard. We also opened a new Skånska Byggvaror showroom in Gothenburg, and in Trondheim, Norway, we relocated our Right Price Tiles store to a better location with an upgraded store experience.

Online, well, last year's work to to simplify and sharpen the assortment is now completed. We have a stronger digital offer, especially in building materials and garden buildings.

During the quarter, e-commerce has shown a good performance. With enhanced stores, sharper online, and stronger CRM, the ambition is to drive more traffic and increase conversion and to capture more of of customers project projects over time.

We are also, if you look to slide number eight, we're also using AI to to strengthen both customer experience and to improve efficiency. In in customer service, AI is already acting as first line of support, and it resolves more than 80% of the incoming cases without manual handling.

In addition, we have taken a clear step forward in in AI-driven sales during the quarter, and we are now live live with agentic commerce, where AI moves beyond only customer service and become also a active part of the of the buying journey. Instead of asking the customers to search through product lists or websites, they can describe describe what they want to build, and they get help with material choices, quantity calculations, product recommendations, all the way to the checkout.

Everything is in the same flow. This is, of course, an an early version and and a very small channel so far, but but conversion is around 30%, which shows that AI can make the customer journey simpler while also over time maybe contributing to sales.

In addition, we are taking steps in in-store support by launching an AI assistant for our store employees. This will give our teams better support in in the customer meeting, but also enable faster service and and help create a more consistent customer experience.

The point is not that we are trying to become an AI company, but the point is that we're using AI where it makes Byggmax better in sales and service, but also in productivity and and the customer experience. With that business update, I hand over to Helena and our financials.

Thank you, Karl, and good morning, everyone. Before we move into the quarter in more details, I'd like to put the results into a broader perspective.

We are on slide nine. This slide illustrates the sales and margin progress we've made over the past 3 years.

Despite a prolonged period of soft and volatile market demand, we have delivered a significant improvement in profitability. Our rolling 12 months EBITDA margin has now increased to 6.2% compared with 5.3% a year ago and 2.9% 2 years ago.

This improvement has been achieved with broadly similar sales levels, reflecting structural improvements in the business rather than a recovery in market demand. That momentum continued in this quarter, where EBITDA margin increased by more than 1 percentage point to 12%.

With that longer perspective, I'll move into the quarter in more details, starting with the income statement on slide 10. Operating profit increased by 44 million to 267 million in the quarter.

If we look at the year-on-year bridge, you can see the key drivers of gross profit combined with continued cost control and disciplined investments. Sales increased by 2.9% or 1.7% excluding currency effects.

Demand remains mixed. Lower volumes in timber and heavy building materials were balanced by continuing strength in garden products and smaller renovation projects.

Also, good in-store product availability throughout the quarter supported sales. In the quarter, gross margin continued to improve, contributing 20 million to earnings.

The improvement reflects stronger commercial execution together with underlying improvements in sourcing, logistic, and our e-commerce offering. In the quarter, product mix and early supplier payments supported margins.

Some announced supplier price increases have yet to be fully reflected in the market and may put some pressure on margins in the coming quarters. We continue to demonstrate disciplined cost management.

Operating expenses increased by 3% compared with last year. This reflects annual wage increase across the Nordics, continued investment in our digital capabilities, as well as store opening activities during the quarter.

This means that the organization is now leaner and more flexible, allowing us to absorb these investments while maintaining a disciplined cost base. In the quarter, depreciation and amortization also contributed to the impact on operating profit.

The lower investment levels over the past 2 years have reduced depreciation expenses. In addition, amortization related to Skånska Byggvaror acquisition is completed.

These positive effects of 16 million were partly offset by higher depreciation related to IFRS 16 lease agreements. Operating profit and margin improved, turning us to the cash flow on slide 11.

Strong profitability combined with disciplined capital allocation continues to generate healthy cash flow. Over the last 12 months, cash flow from operating activities amounted to 880 million.

We continue to invest to strengthen the business over long term. While CapEx increased compared with last year, investment levels remain below historical levels.

During the quarter, investments included continued ERP upgrade and store projects with customer-facing improvements such as store layout and checkouts. The working capital remains well-managed.

Inventory levels have increased to support product availability and customer demand, while we continue to balance the level of capital. Overall, strong earnings combined with disciplined investments and effective working capital management continues to support strong cash flow.

This strong cash flow generation continues to strengthen our balance sheet, which brings me to the final slide on net debt. Net debt excluding IFRS 16 has been reduced to 186 million at the end of the quarter, and our net debt EBITDA ratio has improved to 0.4 times.

Combined with committed credit facilities, we have substantial financial flexibility to support both continued investment in business and future growth opportunities. Overall, the financial development this quarter demonstrates that the operational improvements implemented over the past 2 years continue to translate into stronger earnings, stronger cash generation, and significantly stronger balance sheet.

With that, I hand back to Karl to conclude before we open up for questions.

Thank you, Helena, and please move to slide number 13. Byggmax has a clear position, and it's to offer building materials easily and at a good price.

Our drive-in model makes shopping really efficient, and together with a low cost base and an extensive store network, this provides us with a scalable business model. We delivered a solid Q2 with strong operation performance, improved profitability, as you've heard, 12% EBITDA margin in the quarter, and a very robust financial position.

Our priorities going forward are clear. It's about combining a continued very strong operational performance with enhanced commercial capabilities to unlock further potential.

We aim to deepen our understanding of customer needs, and improved customer insights will provide a stronger foundation for how we develop our offering, both in categories where we are already strong and in related areas. Another dimension is how we activate the offer across our sales channels, and at the same time, improved customer communication will help driving traffic and sales.

The ambition is to gradually enhance the entire commercial loop, from customer insight and relevance to execution and validation. Finally, all our employees, they work hard to ensure that we are fully ready during the summer season, and we are really looking forward to meeting all our customers during the rest of this peak season.

This concludes our presentation, and so thank you for your attention, and we now welcome your questions.

Good morning. A couple questions for me.

I was wondering if you could discuss a bit more the growth deviation from the DIY growth reported by Sweden Statistics. For April-May, SCB reports DIY growth roughly 9% year-on-year for context.

Good morning, and thank you, Benjamin. As mentioned, we see a market with significant variations where some categories are developing well, while others have yet to gain momentum, which makes, I guess, comparison based on aggregated sales figures quite challenging.

Our exposure to heavy building materials has an effect and gives lower overall growth, while our assessment is that we remain strong in our major categories. Looking at last year, Q2, as mentioned, the effect was the opposite, where the more heavy building materials grow a little bit more, having a higher total sales growth.

At the same time, we're not complacent, and we see further potential. As mentioned in the presentation, we have a high brand awareness, a high customer satisfaction, and by improving insights and converting these customer insights into offer relevance for more customer needs, we have the potential to secure further growth.

Thank you. I was wondering as well if you could elaborate on the comment regarding cash discounts lifting gross margins in the quarter.

I seem to remember you using cash discounts extensively in the comparable quarter as well.

Helena, will you?

Yes. Yes, that is totally correct.

We have for a longer period used cash discounts, but it has been a larger impact, and as I commented, there are other underlying improvements that has raised the gross margin. It still has an impact this quarter versus the same quarter last year.

It has been used to a higher extent, but less impact on the margin.

Perfect. Thank you.

Then finally, and I understand this is more a question for the board really, but I'm sure they will listen to your input. What do you want to do with cash flows now that your balance sheet has re-strengthened?

Our strong financial position provides us with good strong operational flexibility. It allows us to build inventory ahead of the season in an effective way, and also to, as Helena mentioned, also fully leverage purchasing or cash discounts.

Our business model is efficient and it generates strong cash flows, and it enables us both to invest in our business, in the assortment, customer experience, stores, and e-com, and to deliver attractive returns to our shareholders, where our policy is to distribute half of the earnings. When it comes to the future capital allocation and distributions, that as you say, it's for the board to decide, and the board will come back on this in due course.

Perfect. That's all I had for now.

Thank you very much.

Thank you, Benjamin.

Thanks a lot for your time, and I really hope that you will have a nice summer. If not before, we look forward to connecting in October after our third-quarter report.

Thank you.