Fresenius Se & Co (FSNUF) Q2 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:04.494 Good afternoon and welcome to the conference call of Fresenius Investor Relations which 00:00:04.494 -- 00:00:09.978 is now starting. May I hand you over to Nick Stone, Head of Investor Relations. 00:00:09.978 -- 00:00:15.241 Thank you Valentina. Hello everyone. Welcome to our half year in Q2 26 earnings call 00:00:15.241 -- 00:00:20.265 and webcast. The presentation was emailed to our distribution last night following the 00:00:20.265 -- 00:00:23.938 ad hoc announcement and is available on Fresenius.com. 00:00:23.938 -- 00:00:27.740 On slide 2 of the presentation you will find the usual safe harbour statements and less 00:00:27.740 -- 00:00:32.982 stated otherwise will comment on our performance using constant exchange rates or CER. 00:00:32.982 -- 00:00:36.764 Today's results show Fresenius is delivering from a position of operational strength 00:00:36.764 -- 00:00:40.946 with another excellent quarter or grade of full year guidance and clear evidence of the 00:00:40.946 -- 00:00:44.788 structural step up in earnings quality that we've been building towards. 00:00:44.788 -- 00:00:48.390 I'm very pleased to be joined by Michael and Sara who will take you through the results 00:00:48.390 -- 00:00:52.055 and what they mean for the continued delivery of future Fresenius. 00:00:52.055 -- 00:00:55.778 As usual, the call will last approximately one hour with the presentation taking around 00:00:55.778 -- 00:00:58.841 30 minutes with remaining time for your questions. 00:00:58.841 -- 00:01:03.465 To give everyone a chance to participate, please limit your questions to one to two. 00:01:03.465 -- 00:01:06.727 We can always come back for a second round if needed. 00:01:06.727 -- 00:01:10.971 And with that, I'll hand over to Michael to expl...