Arcelik A S Unsp/Adr (ACKAY) Q2 2025 Earnings Call

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WEBVTT 00:00:00.481 -- 00:00:02.663 Ladies and gentlemen, thank you for standing by. 00:00:02.663 -- 00:00:07.346 I am Geli, your chorus call operator. Welcome and thank you for joining the Archelik 00:00:07.346 -- 00:00:12.530 conference call and live webcast to present and discuss the second quarter 2025 financial 00:00:12.530 -- 00:00:16.713 results. At this time, I would like to turn the conference over to Mr. 00:00:16.713 -- 00:00:19.975 Baris Alparslan, Chief Financial Officer, Ms. 00:00:19.975 -- 00:00:21.856 Minesh Shuleyazgan, 00:00:21.856 -- 00:00:27.100 Finance and ERM Executive Director, Ms. Delal Alver, Capital Market 00:00:27.100 -- 00:00:32.289 Compliance Senior Lead, and Mr. Sezer Ercan, Investor Relations Senior Lead. 00:00:32.289 -- 00:00:35.411 Mr. Alparslan, you may now proceed. 00:00:35.411 -- 00:00:39.072 Thank you. Good morning and good afternoon, ladies and gentlemen. 00:00:39.072 -- 00:00:43.614 Welcome to our second quarter 2025 financial results webcast. 00:00:43.614 -- 00:00:47.715 This presentation contains the company's financial information prepared according to 00:00:47.715 -- 00:00:53.357 TFRS by the application of IS-29 inflation accounting provisions. 00:00:53.357 -- 00:00:55.798 Here are the highlights of the first quarter. 00:00:55.798 -- 00:01:00.839 We generated 121.4 billion TL revenues with a gross margin 00:01:00.839 -- 00:01:06.101 of 28.4% in the second quarter, reflecting an 11.5% decline in sales 00:01:06.101 -- 00:01:10.062 year-on-year in real terms, mostly due to weak international demand and performance in 00:01:10.062 -- 00:01:14.863 Europe. In Turkey, domestic demand was steady, whereas we have seen a nominal growth 00:01:14.863 -- 00:01:19.184 but a real decline due to relatively unfavorable product mix and pricing...