Interpump Group Spa (IPGLF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome and thank you for joining the Interpump Second Quarter 2026 Financial Results Conference Call. As a reminder, all participants are in listen-only mode and after the presentation there will be an opportunity to ask questions. Should anyone need assistance during the conference call, they may signal an operator by pressing star and zero on their telephone. At this time, I would like to turn the conference over to Mr. Federico Pavese, Head of Investor Relations of Interpump. Please go ahead, sir. Thanks. I'm Federico Pavese, Head of Investor Relations of Interpump Group. Welcome to the Interpump 2026 Second Quarter Financial Results Conference Call. And thanks to all of you connected for joining us today. Please be aware of the cautionary language that is included in our forward-looking statements. included in the material that we have distributed today. For example, you can find it in the appendix of the presentation, slide 27. With that, I would like now to hand it over to Mr. Marasi, Interpump's CEO. Thank you, Mr. Pavese. It's my pleasure to welcome you again to Interpump Group and to wish you all the best for your future within the company. Let's start by looking at our consolidated financial results in slide 2 of the presentation. We should reflect our guidance and expectations. During the second quarter of 2026, Group sales were down by 0.7% on organic basis year over year, affected by the decrease in water jetting characterized, as you know, by a very challenging comparison basis with the first half of 2025. Hydraulics on the other end delivered the fourth consecutive quarter of organic improvement with a very meaningful plus 6.2%. I will come back soon with additional color on both divisions. Consolidated BDA margin stood at 22.9% in the quarter from 23...