VusionGroup

Good day and thank you for standing by. Welcome to Views and Group H1 2025 results. At this time, all participants are in the listen-only mode. After the speaker's presentation, there'll be a question and answer session. To ask a question during the session, you will need to press star one and one on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star one and one again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to Olivier Guerneau, Fusion Group's Investor Relations Officer. Please go ahead, sir.

Thank you very much, operator. Ladies and gentlemen, good afternoon, and welcome to our 2025 first half results presentation. With me today are Thierry Gadot, our Chairman and Chief Executive Officer, as well as Thierry Lemaitre, our Deputy CEO, Corporate and Finance. Thierry Gadot will make some brief opening remarks on the group's business performance, which we already presented to you at the end of July. Thierry Lemaitre will then make some detailed comments on our first half financial performance. And Thierry Gadot will conclude with some remarks regarding our full-year outlook, which we are upgrading today. After these remarks, we will be happy to take your questions. As a reminder, some of the information to be discussed on our call today is forward-looking and subject to important risks and uncertainties that could cause actual results to differ materially. For these, I refer you to the safe harbor statement included in our press release and on slide three of this presentation. This evening's release was issued a short while ago and is available in French and in English on Vision Group's website, vision.com. The slides of this presentation can also be found on our website in the regulated information section. A replay and a transcript will also be available on our website after the call. And with that, it's my pleasure to hand you over to Thierry Gadot for his opening remarks.

Thanks, Olivier. Good afternoon, everyone, and thanks for joining our conference call. I'm very pleased to present to you, along with Thierry Lemaitre, the second part of our H1 results, which is dedicated to the financial performance I will therefore hand over to Thierry Lemaître very shortly after just a brief reminder of the main highlights. So, Vision Group achieved an excellent first semester ahead of our guidance with 51% growth in adjusted sales at 649 million euros. Order entries were up 22% for the first half and the vast revenues doubled year on year at 91 million euros. Thanks to our strong business model and operating performance, our profitability continued to increase sharply, with a 300 basis point increase in EBITDA margin versus H1 last year. And we delivered a sharp increase in operating free cash flow, even when neutralizing the prepayments on large contracts, as well as a strong increase in our net cash position. We are confident also in our growth visibility for the rest of the year and have therefore raised our revenue and profitability targets for the full year. I will come back on this last point, but before I hand over to Thierry Lemaitre for the detailed comments on our financial performance.