OC Oerlikon Corporation AG

Good morning, ladies and gentlemen, and welcome to the Oerlikon Q2 2025 Results Conference Call and Live Webcast. I am Youssef, the course call operator. I would like to remind you that all participants will be in listen-only mode and that this conference is being recorded. The presentation will be followed by a Q&A session. You can register for questions at any time by pressing star followed by 1 on your telephone. For operator assistance, please press star and zero. The conference will not be recorded for publication or for broadcast. At this time, it's my pleasure to hand over to Aymeric James, Head of Investor Relations. Please go ahead.

Good morning, ladies and gentlemen, and welcome to Ehrlichon's first half year results call. My name is Aymeric James, Head of Investor Relations. I have here with me Michael Suss, our Executive Chairman, and Markus Richter, CFO of Erlikon. Michael will start the presentation with a strategy update. Markus will then highlight our financials outlook. We will end with a Q&A. With that, I would like to open our presentation and hand over to Michael. Michael, the floor is yours.

Thank you, Amalric. Hello, everyone. and welcome to our half-year 2025 presentation. Before Markus takes us through the financial details, I'd like to start with some reflections on our strategic journey and keep it short, only to remind you where we're coming from the past 10 years. We have fundamentally reshaped Erlikon from a conglomerate into a focus, which was always requested, high-performing pure play company. While we are in this transition, We have created a diversification in our market places within the service solutions as a leader in advanced technologies. And on the other hand, Barmark is on a good way to be divested, as we have signed in May. All the procedures in between are on track. So from our side, there is no doubt that this... that this divestment will work out in time and in quality. And if you talk about in quality, you remember the transaction value was 850 million with an additional earn-out potential of up to 100 million. What's even important is that we have parallel to that a very strong reduction of pension liabilities. Sometimes maybe that's not really perceived in a proper way. but I have to restructure that because that was a massively deload of pension liabilities of our company. What we have done on top of that, we optimized further our portfolio, which unfortunately ended up in an impairment of 46 million. We will go to details in the Q&A if there are some. But one or two of them are battery development in Europe, green hydrogen development in Europe, where we simply have stopped certain R&D activities, and some other stuff in addition. The structural cost measures are implemented further on track, and we will see benefits second half year, and further on benefits in 26. So cost structural improvements are on a regular base. So we do that consistently, not as a one wave, but as a consistent further development, the performance quality within the company. That said that, I simply will further confirm that the transformation is on track, is on track to be an actual and efficient organization, and we have a distinct brand and a distinct investment case for you and very open to all the Q&As you will have to us. Marcos, would you like to take over from my side and go to the financials?