Fresenius Se & Co (FSNUF) Q2 2025 Earnings Call

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WEBVTT 00:00:01.381 -- 00:00:05.568 Good afternoon and welcome to the conference call of Fresenius Investor Relations, which 00:00:05.568 -- 00:00:10.936 is now starting. May I hand you over to next go and head of investor relations. 00:00:10.936 -- 00:00:16.385 Thank you, Valentina. Hello, everyone. Welcome to our half year in Q2 2025 earnings 00:00:16.385 -- 00:00:21.372 call and webcast. The presentation was emailed to our distribution list earlier today 00:00:21.372 -- 00:00:24.365 and is available on Fresenius.com. 00:00:24.365 -- 00:00:28.171 On slide two of the presentation, you'll find the usual safe harbour statements. 00:00:28.171 -- 00:00:32.397 Unless stated otherwise, we'll comment on our performance using constant exchange rates 00:00:32.397 -- 00:00:34.139 or CER. 00:00:34.139 -- 00:00:37.484 Today, I'm delighted to be joined by Michael and Sarah who will take you through the 00:00:37.484 -- 00:00:41.710 guidance raised in another resilient business performance in these uncertain and volatile 00:00:41.710 -- 00:00:46.577 times. As usual, the call will last approximately one hour with the presentation taking 00:00:46.577 -- 00:00:51.545 around 35 minutes and the remaining time for your questions to give everyone the chance 00:00:51.545 -- 00:00:55.543 to participate Please limit your questions to one to two. 00:00:55.543 -- 00:00:59.008 We can always come back for a second round if needed. 00:00:59.008 -- 00:01:04.172 And with that, I will now hand the call over to Michael to kick things off. 00:01:05.076 -- 00:01:09.001 Thank you, Nick, and welcome to everyone joining us today. 00:01:09.001 -- 00:01:14.289 Future Fresenius keeps delivering. Our momentum continues 00:01:14.289 -- 00:01:19.457 with another quarter of performance. driven by resiliency 00:...