Seb Sa Unsp/Adr

Hello and welcome to the SIB 2024 first quarter sales and financial data. My name is Jess and I'll be your coordinator for today's event. Please note this call is being recorded and for the duration of the call, your lines will be on listen only. However, there will be the opportunity to ask questions. This can be done by pressing star one on your telephone keypad to register your question at any time. If at any point you require assistance, please press star zero and you'll be connected to an operator. I will now hand over to your hosts, Stanislas de Gramont, CEO, and Olivier Casanova, CFO, to begin today's call. Thank you.

Thank you very much. Good afternoon, ladies and gentlemen. Indeed, Stanislas de Gramont speaking. I'm with Olivier Casanova, and we'll take you through the results of our first quarter in sales and financials. This will be followed by a question and answer. Going straight maybe to our page number four. Key results. Yeah, this one, thank you. The first quarter comes out with continued good dynamics and comes out as expected. We post sales for the quarter nearly 1.9 billion euros. That is 7.3% growth like-for-like versus our first quarter last year. That has converted in an offer level of €111 million. This is a 70% increase on the low Q1 2023. That in turn has converted in a 5.8% operating margin, 220 basis points versus first quarter last year. And finally, our financial debt at the end of the quarter, stands at €1.836 billion, €28 million lower than last year, same period. If we move on to the first quarter activity highlights, going straight to this bridge, a few things to comment on this bridge. The first one is our absolute reported sales number is up 3.9% year-on-year on the quarter. that breaks down in 7.3% organic growth as mentioned previously. We have a currency effect, I'll come back to that, of negative 4.1% and the scope effect of 0.7%, mainly driven by the integration in our full year sales of Lassonde-Marco, Pacojet and Forgeadour that were acquired in the course of 2023.

Moving on to the next slide.