Forvia Se (FURCF) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.341 Good morning, ladies and gentlemen, and welcome to our 2025 half-year results call. 00:00:05.341 -- 00:00:10.727 I'm presenting this morning together with our CFO, Olivier Durand. 00:00:10.731 -- 00:00:15.741 I'll start by sharing our H1 highlights. Then Olivier will walk you through the financial 00:00:15.741 -- 00:00:21.530 results. And in the end, I'll wrap up with our outlook for the rest of the year. 00:00:21.530 -- 00:00:26.715 So starting with our H1 highlights, I will present them as three distinct chapters 00:00:26.715 -- 00:00:31.801 that match the three pillars of our strategy, performance, transformation, and 00:00:31.801 -- 00:00:33.801 culture. 00:00:34.604 -- 00:00:39.208 I'm very pleased, in fact, to report that we have made solid progress on all three of 00:00:39.208 -- 00:00:43.313 these priorities that we set out earlier this year. 00:00:43.313 -- 00:00:48.899 First, our drive for best-in-class performance is reflected in increased operating margin 00:00:48.899 -- 00:00:54.012 and stronger cash flow. Second, our business transformation has gained 00:00:54.012 -- 00:01:00.301 further momentum, both in terms of portfolio review and disposal execution. 00:01:00.301 -- 00:01:05.889 And third, when it comes to invigorating our culture, we are reorganizing 00:01:05.889 -- 00:01:11.076 and simplifying our operating model. This will support a more agile and efficient 00:01:11.076 -- 00:01:13.076 organization. 00:01:13.400 -- 00:01:18.567 These three priorities are being emphasized by two key management changes. 00:01:18.567 -- 00:01:24.093 Olivier Lefebvre has been appointed to group COO with a clear objective 00:01:24.093 -- 00:01:26.516 to drive performance. 00:01:26.516 -- 00:01:31.661 And Carla Gohan has been recruit...