Global Fashion Group (GLFGF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.659 Good morning, everyone, and welcome to Global Fashion Group's Q4 and full year 2025 00:00:05.659 -- 00:00:07.722 results presentation. 00:00:07.722 -- 00:00:12.909 I'm Krzysztof Wasiewicz, CEO of GFG, and I'm joined today by our CFO, Helen 00:00:12.909 -- 00:00:18.237 Higman. I'll start today with an update on the strategic actions we have executed 00:00:18.237 -- 00:00:23.604 over the past three years, followed by an overview of our 2025 regional 00:00:23.604 -- 00:00:28.752 performance. Helen will cover results for the group and the outlook. 00:00:28.752 -- 00:00:33.818 Then we'll open it up for Q&A. To start, I want to briefly remind 00:00:33.818 -- 00:00:37.582 you of what underpins GFG's long-term potential. 00:00:37.582 -- 00:00:42.448 We hold leading positions across large fashion and lifestyle markets where online penetration 00:00:42.448 -- 00:00:48.334 continues to increase over time. We serve these markets with a tailored, customer-centric 00:00:48.334 -- 00:00:53.460 approach that reflects local needs, and we maintain strong relationships with 00:00:53.460 -- 00:00:56.241 both global and 00:00:59.802 -- 00:01:02.927 grow in complex markets. 00:01:02.927 -- 00:01:08.095 We also have a unique operational footprint, supported by proprietary technology 00:01:08.095 -- 00:01:13.284 and scalable infrastructure, which enables us to deliver fashion-specific customer 00:01:13.284 -- 00:01:16.609 experience efficiently at scale. 00:01:16.609 -- 00:01:22.018 With these foundations in place, we are on track to deliver profitable growth and positive 00:01:22.018 -- 00:01:24.642 cash flow across our markets. 00:01:24.642 -- 00:01:29.071 And we do so from a position of financial strength with a healthy balance sheet and a 00:01:29.071...