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for the first nine months of fiscal year 2025. Next to me on today's call are Michael Lewis, our Chief Executive Officer, and Christian Bahr, our new Chief Financial Officer. I'm glad that both are with us today and a special warm welcome to Christian joining us for his first results presentation as Uniper's new Chief Financial Officer. Today, Michael will start with a summary of the company highlights and Christian will guide you through the financial performance for the first nine months 2025. And as usual, there will be a Q&A session after the presentation. Now, let me hand you over to Michael Lewis, please.

Thank you, Sebastian, and a very good morning to everyone, and thank you for tuning in to Uniper's nine-month results call for 2025. And we're very pleased to report a solid set of results in a challenging market environment, and we can confirm our outlook for the full year. But before we get into the numbers, I'd like to give you an update on our leadership team. And with me today, for the very first time, is Christian Barr, who I cordially welcome here as our new Chief Financial Officer. And this is, in fact, his fourth working day. And Christian joined as CFO on November the 1st. I've known Christian for quite some time as we were former colleagues at E.ON, and we successfully worked together at E.ON UK, where Christian served as the CFO when I was the CEO, and we successfully managed the UK transformation on the acquisition of NPower. And Christian has a distinguished track record in financial management within the energy sector, and this experience, coupled with his transformation expertise, make him an invaluable addition to our management team. So again, I repeat, a very warm welcome, Christian. And alongside Christian's appointment, we've also reorganized our management board to focus more effectively on our strategic transformation. And effective from November 1st, a new division has been established combining the roles of chief people and transformation officer. This new area is led by a longstanding, highly experienced colleague, Fabienne Twilliman. And Fabienne has held key roles over the past years in the CEO area of Uniper in leading our communications and government relations function during the energy crisis, as well as heading successfully our human resources function over the past year. And she's widely recognized across Uniper for her leadership skills and her ability to drive change. And I'm delighted that she's now part of Uniper's management board. In addition, Uniper has extended the contracts of Holger Krietz, our Chief Operating Officer, and Carsten Poppinger, our Chief Commercial Officer, for a further five years through to February 2031. And both Carsten and Holger are playing pivotal roles in Uniper's strategic transformation. And Carsten is, among other things, focused on building a diverse and risk-balanced gas and LNG portfolio, following our successful litigation against Gazprom and our cancellation of those contracts. And Holger is delivering the transformation of our power plant portfolio. And their continued presence on the management board will provide the continuity and stability needed to successfully execute our strategic transformation. And in this context, I'd also like to express my sincere thanks to Jutta Dunges as former Chief Financial Officer. for her extraordinary commitment and outstanding contribution over the past years. Her performance was absolutely decisive for Uniper's stabilization and the successful repositioning of the group. And on behalf of the entire management board and all employees, I would like to wish Jutta every success in her new role and in her personal future. And with this, let's now turn to our nine-month highlights on slide four. As you can see, our operating business performed solidly in the first nine months of this year. The positive earnings momentum from the second quarter continued into the third quarter. Group adjusted EBITDA amounted to 641 million euros and group adjusted net income reached 268 million euros. As anticipated, these figures are below the exceptionally strong results of the prior year period, but they are in line with expectations. Also, our financial position remains in very good shape, even after the full payment of the €2.6 billion of contractual recovery claims of the Federal Republic of Germany in March 2025, and the Group's net cash position reached €3.3 billion at the end of September. Looking ahead, we're on track to deliver our full-year earnings outlook. We expect adjusted EBITDA to range between €1 and €1.3 billion. and adjusted net income is expected to come in between €350 million and €550 million. And Christian will provide a more detailed explanation of the financial drivers in a moment. So our transformation journey continues. On the financing side, we've extended our toolkit. Only recently, we published our Green Finance Framework, which will form the basis for green bond issuance in the future. A decision for issuance is not planned at the moment, but this green finance framework and our debt issuance programme together form a strong debt financing toolset, securing a range of options for future funding. In addition, we've also been able to further reduce the KFW credit line from €5 billion to €1 billion as of October 1st. Coming to our strategic transformation, so far we've invested 610 million euros this year, with the majority of this investment going into our flexible generation and green generation segments. And we continue to focus on the execution of our strategy. For instance, a number of financial decisions in the renewables business are still expected this year. Furthermore, we've fulfilled almost all the necessary remedy measures and obligations agreed between the German government and the EU Commission. as part of the state aid approval. And we've announced the sale of the 1.1 gigawatt German coal-fired power plant Dateln IV, and this transaction is still subject to the usual regulatory approvals. And also since the last call, we've announced the sale of the district heating business in Germany, which successfully closed a few days ago. So we've made great progress in that area. But let's now take a closer look at the nine-month results. And Christian, over to you.

Yeah, thanks, Mike, for your kind introduction and a warm welcome to all of you. It's a privilege to join Uniper as the Chief Financial Officer. And my special thanks go to my predecessor, Jutta Dünges, whose exceptional dedication and excellent work have laid a strong foundation for Uniper's next step. In a professional and smooth handover process, Jutta was handling over to me a critical sphere of responsibility for Uniper's success, which is supported by a highly qualified and superbly coordinated team. I look forward to working with our talented teams to drive Uniper's transformation and create long-term value. I bring with me sector expertise and experience from various senior financial leadership roles within the E.ON group. And over the years, I gained extensive expertise in the commodity business and a deep understanding of all parts of the energy value chain from the supply energy down to its consumption. As he said, I worked closely and successfully together with Mike Lewis, a CFO of Eon UK until 2023. While I followed Juniper's developments with interest over the past years, it was also great to meet again many colleagues I still know from our joint Eon times. So the start during the first days was very positive in any respect. With Unipo's strong asset base and a clear decarbonization strategy, I am convinced that we are well positioned to play an essential part in Europe's energy transition. And my key priorities are twofold. First, continue safeguarding Unipo's strong financial position. And second, support the strategy execution while maintaining rigorous investment disciplines. I'm grateful for the trust placed in me by the supervisory board and Mike Lewis. I look forward to working closely with my fellow board members and the wider Uniper team to deliver sustainable value. And now I'm pleased to present the Uniper numbers of the first nine months of 2025 in more detail. Headline results for the nine months of the 2025 financial year have been published in an ad hoc release on 24th of October as we did in previous quarters of this year. The outlook of the whole year 2025 has been confirmed. In the period under review, the Unipat generated an adjusted EBITDA of 640 million euros. The group's adjusted net income came in at 268 million euros. We achieved these results against the backdrop of a decline in Unipass gas sales and lower electricity generation volume. The latter was also driven by portfolio changes, decommissioning of plants and outages. Margins from forward hedging transactions have normalized in this market environment. Further figures are detailed on subsequent slides. Coming from an elevated level, greener commodities recorded a sizable drop in adjusted EBITDA contribution to Uniper's group results. After nine months of the 2025 financial year, the segmental adjusted EBITDA was still negative at minus 196 million euros. However, since Q2, a turnaround, is clearly visible with profit contribution of around 300 million euros in the summer season. Overall, the reduction in earnings is primarily linked to the concession of favorable margins from prior years. Key influences on earnings include challenges resulting from previous portfolio optimized measures and the end of gains associated with alternative Russian gas supply hedging. One bright spot was the significant increase in earnings contributions from the US LNG business, which benefited from earlier favorable forward sales.