Fluidra Sa

Good morning and welcome to our first half 2026 results call. My name is Clara Valera, Strategy, Investor Relations and FP&A Senior Director. Joining me today on this call is our Executive Chairman, Eloy Planes, our CEO, Jaime Ramirez, and Xavier Tintore, our current CFO, who will step down on first of August. They will walk you through the presentation and afterwards we will open the floor for questions. I am also pleased to have on the call Juan Graham, Fluida's incoming CFO, who joined us on 1st of June. You can follow the presentation in either English or Spanish by selecting your preferred language in the drop-down menu at the bottom right-hand side of your screen. If you would like to ask a question, please find the information and instructions in the Ask a Question tab on the webcast. Please register to receive dialing details. Thank you Clara. Good morning and thank you for joining our results call today and for your interest in Fluidra.

Jaime and Xavier will provide more details shortly but let me start with a few key points from my side Our performance in the second quarter was outstanding reflecting the effectiveness of our strategy and the quality of our business This enabled us to continue strengthening our leadership position and generating solid results across dynamic market conditions Jaime will comment further on this We delivered continued sales growth and complemented this with initiatives to protect margins while continuing to invest in our strategic priorities. Over the six-month period, sales were up 5% year-on-year at constant effects, with positive volume and positive price. Adjusted BTDA was up 6%. In a market that remains below historical new build levels, we continue to outperform through disciplined and consistent execution, strong customer focus and continued market share gains. Cash generation was strong, allowing us to further strengthen our balance sheet and continue reducing leverage. Given our performance in the first half and current trading, we are maintaining our full year guidance. We remain focused on delivering the year with discipline and agility while closely monitoring the trading environment. I am proud with how the team is executing in a volatile macro environment. We are making strong progress against our priorities and we remain firmly focused on building a stronger and better fluida. Supported by the structural attractiveness of our industry and the resilience of our business model, we remain confident in our ability to continue creating value for shareholders now and into the future. Finally, today we are launching a 40 million euro share buyback to enhance shareholder remuneration. At current valuation levels, we believe buying back our own shares is an attractive investment and a clear demonstration of our confidence in Fluidrans' long-term value. Before I hand over to Jaime, I would like to take a moment to recognize Javier's contribution over his 16 years at Fluida. As you know, Javier will be stepping down as CFO this August. 16 years leave a mark on any company. Javier's mark on Fluida will remain for many years to come. On behalf of the board, the management team and everyone at Fluidra, I want to thank Xavier for his outstanding contribution. His leadership, professionalism, integrity and unwavering commitment have played a defining role in shaping the Fluidra we know today. On a personal note, Xavier, it has been a genuine privilege to share this journey with you. We have grown alongside this company, faced many challenges together, celebrated many successes and always kept the long-term interest of Fluidra at the center of every decision. For that and for your friendship over all these years, I will always be grateful. We all wish you every success and happiness in the next chapter. Xavier, from the bottom of my heart, thank you very much. Javier Ramirez Garcia He has been working closely with Xavier and the wider leadership team to ensure a smooth transition and I am pleased to have him on board as we continue executing our strategy and entering the next chapter of Fluidra's development. Juan, welcome to the team.

Thank you Eloy, Jaime and team for your warm welcome. I am very pleased to be joining Fluidra as its next Chief Financial Officer. and I appreciate the opportunity to speak on this call for the first time today. Although I'm still early in my journey with the company, I have already spent considerable time with the leadership team, our financial organization and colleagues across the business. My initial impressions are very positive. I have been particularly struck by the strength of the company's competitive position, global reach, its depth of its brands and customer relationships, and the commitment of our people worldwide. There's a great deal of expertise throughout the organization together with a clear understanding of the opportunities and challenges ahead. I have also been positively impacted by the strategic direction of the business. Our priorities are clear, accelerating our growth, fostering competitive differentiation and enhancing operational excellence. As an organization, we have internalized these priorities Javier Ramirez Garcia My focus has been on listening, understanding the business in detail, and developing a fact-based view of where we are performing well and where we can raise the level of visibility and speed of execution. My initial experience has reinforced my enthusiasm about joining Fluidra and my confidence in its long-term potential. I look forward to meeting many of you over the coming months, listening to your perspectives, and building an open and constructive dialogue. I understand the importance of credibility and consistency in this role and I'm committed to earning your trust through clear communication and strong execution. I also want to take this time to thank Xavier for his support through my transition and wish him the very best in his next chapter. Thank you and I will hand over the call to Jaime.