Azelis Group Nv (AZLGF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for joining us as we present our trading update for Q1 twenty twenty six. As usual, we have Anna Bertone, Group CEO, who will give an update on our operating progress year to date. Boris Cambon Lelem, Group CFO, will present the financial results, and then Anna will say a few words on the outlook. After their presentations, we will open the call for Q and A, but until then, you will be on listen only mode. As a reminder, this presentation may contain forward looking statements that are subject to risk. We will make a recording of this call available on our website later today. I will now hand you over to Anna. Thanks, Ben, and good morning to everyone. Let me start with the most important messages regarding Q1 twenty six. First, we saw mixed trends across our regions during the quarter. Some end markets are stabilizing and others continue to be very challenging. In this quarter, we have seen some, but still limited pre buying from customers, but we expect this to change as the Middle East conflict continues. The relatively limited pre buying suggests that there are at least part of the stabilization that we have seen in some end markets, and that has been demand driven. I will go into more detail per region and end market in the next slide. Second, we generated broadly the same amount of cash, despite lower EBITDA during the period, translating into a 113 cash conversion. This performance is another demonstration of the asset light, cash generative nature of our business. And this is actually a good segue to my third point. The Middle East conflict has further increased volatility across our markets, highlighting the need to balance growth and take the right actions to protect our profits. And this is exactly what we are doing. We are on track ...