Barry Callebaut AG (0QO7) Q2 2025 Earnings Call

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WEBVTT 00:00:00.807 -- 00:00:04.773 Good morning, everyone, and welcome to Barry Callebaut's half-year results presentation 00:00:04.773 -- 00:00:06.873 for 2024-2025. 00:00:07.117 -- 00:00:10.643 I'm Sophie Lang, Head of Investor Relations, and our session today will be hosted by 00:00:10.643 -- 00:00:13.908 our CEO, Peter Feld, and our CFO, Peter Van Ester. 00:00:13.908 -- 00:00:17.694 After the presentation, we'll have a Q&A session for investors and analysts. 00:00:17.694 -- 00:00:22.158 And as normal, please limit yourself to no more than two questions. 00:00:22.323 -- 00:00:26.909 Before we start, please take note of the disclaimer on slide two, and I'd also like to 00:00:26.909 -- 00:00:29.633 remind you that today's session is being recorded. 00:00:29.633 -- 00:00:33.519 With that, I will hand you over to our CEO, Peter Feld. 00:00:33.519 -- 00:00:36.443 Thank you very much, Sophie, and good morning and good day from my side. 00:00:36.443 -- 00:00:39.988 Thank you for joining our half-year results presentation today. 00:00:39.988 -- 00:00:45.155 As you are fully aware, we are today in an ever-seeing environment, also 00:00:45.155 -- 00:00:50.365 in our chocolate industry. On one side, we have the pleasure to create the little 00:00:50.365 -- 00:00:55.392 happy moments for millions of consumers and to operate in a category 00:00:55.392 -- 00:01:00.159 that will prevail to be a growth opportunity globally. 00:01:00.159 -- 00:01:05.107 It is also very good to see that we have started our next level investment program already 00:01:05.107 -- 00:01:11.243 18 months ago and we're strongly progressing, delivering on our set course. 00:01:11.243 -- 00:01:16.353 However, we must recognize today that we are sailing through what one could call a 00:01:16.353 -- 00:01:19...