E.ON SE (EONGY) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.899 our full year results. As with every occasion, we will leave enough room at the end for 00:00:04.899 -- 00:00:06.701 your questions. 00:00:06.701 -- 00:00:09.185 With that, over to you, Leo. 00:00:09.185 -- 00:00:11.188 Good morning, everybody. 00:00:11.188 -- 00:00:12.611 Thank 00:00:12.611 -- 00:00:14.714 you, Iris, for the introduction, also from my side. 00:00:14.714 -- 00:00:19.742 The past financial year has once again proven one thing. 00:00:19.742 -- 00:00:25.546 We at E.ON deliver on our promises, and we at E.ON are exceptionally well-positioned 00:00:25.546 -- 00:00:30.473 to not only be the playmaker of the energy transition, but also a beneficiary of this 00:00:30.473 -- 00:00:32.215 transition. 00:00:32.215 -- 00:00:37.223 In a year that has been characterized by geopolitical instability and 00:00:37.223 -- 00:00:42.350 macroeconomical challenges, E.ON is a safe heaven. 00:00:42.350 -- 00:00:46.776 One has to admit that our business is facing a secular growth opportunity. 00:00:46.776 -- 00:00:51.179 It has no U.S. dollar exposure. It's largely inflation-protected. 00:00:51.179 -- 00:00:56.186 It's unaffected by U.S. tariff policy, and it's even largely shielded 00:00:56.186 -- 00:00:59.290 against the latest fear of an AI disruption. 00:00:59.290 -- 00:01:03.396 What more can you ask for in terms of resilience? 00:01:03.396 -- 00:01:06.380 But that doesn't mean that we are without challenges. 00:01:06.380 -- 00:01:12.429 And so let me now move to my four messages before handing over to Nadia. 00:01:12.429 -- 00:01:17.757 First, we have delivered strong financial results for the year 2025 again. 00:01:17.757 -- 00:01:22.643 Second, we have not only delivered financially, we have also delivered operationally. 00:01:22.6...