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Ladies and gentlemen, welcome to the Scout 24 Q1 2026 results conference call. I am Matilde, the course call operator. I would like to remind you that all participants will be in listen-only mode and the 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 and 1 on your telephone. For operator assistance, please press star and 0. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Philipp Lindwall, Vice President, Group Strategy and Investor Relations. Please go ahead.

Good afternoon, everyone, and welcome to Scout24's earnings call for the first quarter of 2026. My name is Philipp Dienwald, and I'm Vice President, Group Strategy, and Investor Relations at Scout24. With me on the call today are Ralph Weitz, our Chief Executive Officer, and Martin Mildner, our Chief Financial Officer. Ralf will start the presentation with key business highlights and Martin will provide a detailed overview of our financial results. As always, we will conclude the call with a Q&A session. You can find today's presentation on our website under Financial Reports and Presentations. This session will be recorded and a replay will be available shortly after the event. Please take note of the disclaimer on page 2. Lars, now over to you.

Thank you, Philipp, and welcome everyone. Let's turn to page 4. Q1 marks a good start to the year for Scout24. We delivered double-digit organic revenue growth, mid-teens growth in ordinary operating EBTA, and 20% adjusted EPS growth. This performance was driven by continued strength in our professional business and a solid contribution from private. In professional, B2B subscriptions continue to drive strong revenue growth, supported by positive customer development and very high retention. Agents value our comprehensive and continuously evolving product suite as well as our role as a trusted partner. In private, PPA is developing well as our platform gains further trust amongst private sellers and landlords. At the same time, our B2C subscriber base continued to expand despite the rollout of the new tiering model. Our ecosystem is becoming increasingly interconnected. All customer groups are growing. We see an increased share of logged-in users and customers are buying more products across the platform. The pace of product innovation remains high. In Q1, we launched the tenant network and rating list, as well as scout the street and further enhance our AI-powered search. These innovations further strengthen the ecosystem and enhance the user experience. This ultimately reinforces Scout24's position as a leading real estate platform in Germany. AI continues to play a central role of Scout24. Wherever we deploy AI, we see higher engagement, increased usage and improved monetization. We are also leveraging AI internally to drive efficiency. We will share more details on our product and AI roadmap at our Capital Markets Day in two weeks. We completed the Spain acquisition at the end of February and consolidated first revenues in March. As communicated yesterday, we are also upsizing our share buyback volume in 2026. A step that reflects the confidence we have in the business and future performance. Martin will explain on this further in his part. Overall, Q1 shows that Scout24 is continuing to deliver double-digit organic growth, accelerating innovation and expanding margins. Based on this strong start, we are confirming our full-year 2026 guidance. Let's review our customer development for the first quarter. We reached 24.4 thousand professional customers in Germany, an increase of 3.7% year-on-year. This growth is broad-based across sectors. We are adding customers across residential, commercial and developer segments. Professionals choose Scout24 because we bring together agent software, data, valuation and marketing in a very structured membership logic with the possibility for customers to purchase ecosystem products using our digital currency ImmoPoints. Our relationships with professionals continue to deepen, and Scout24 is increasingly being seen as a trusted partner that delivers value year after year. Our V2C subscription business reached an average of around 508,000 customers, up 2.5% year on year. Momentum improved towards the end of the quarter, with March increasing to around 516,000. We are making good progress with the rollout of our new tiering and pricing model. Our recently launched tenant network product, which is the core part of the additional product features offered in the upper tiers, is gaining quickly. We now have close to 20,000 listings after just a few months. This additional inventory is already contributing 50 to 100 B2C subscription signups per day to our higher value pro membership. This goes on top of our existing funnel. Now let's turn to page 6 for an update on the dynamics of the German real estate market. The market remains fundamentally stable and healthy. This is reflected in our SCAO24 transaction momentum index. It stands at 92 in Q1. Although this is slightly lower than last quarter, it still indicates a stable overall environment. On the supply side, listings are increasing. Inventory reached around 640,000 in March, up around 15% year-on-year. This development is driven by the strength of our platform and brand, as well as longer standing times in the sale and rent market. On the demand side, requests for rental contracts remain at healthy level, although they are below previous peaks, mainly due to affordability constraints and reduced mobility. Buyer interest has also moderated from earlier highs due to recent macroeconomic uncertainty, interest rate movements and geopolitical developments. Despite these trends, the underlying fundamentals of the sales market remain intact. Turning to page 7. You can see how AI is already delivering tangible growth and monetization across all platforms. At our 2024 Capital Markets Day, we established AI as a core part of our roadmap. Since then, we have rolled it out across our products, and we now see clear impact. On the consumer side, take Heyemu. In just a few months, it reached around 650,000 monthly users, with close to a million conversations taking place in April alone. This shows that effectively integrating AI can drive engagement and loyalty on our platforms. At the same time, traffic from external LLMs remains very low, at around 0.3 to 0.4%. This suggests that users do not perceive any added value in using external LLMs for real estate searches. On the agent side, PropStack shows how this translates into monetization. Features include automated listing, expose, video and floor plan creation, saving time and increasing productivity. Agents can manage more clients and hence are willing to pay more. Customers using these AI features generate around 340 euros in monthly APU, compared to around 220 euros without, more than 50% higher. A win for agents and for Scout24. The use of AI strengthens our platform, accelerates revenue growth and increases APU. And this is just the beginning. At our upcoming CMD, we will demonstrate further integrations across our B2B memberships. Now, I will hand over to Martin, who will talk you through our financial performance as he joins us for his first earnings call at Scout24.