Lenzing Ag Ord (LNZNF) Q1 2026 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.955 Yeah, perfect. So good afternoon, everyone, and thank you for handing over to me. 00:00:03.955 -- 00:00:07.638 And thanks to everyone for joining our call today. 00:00:07.638 -- 00:00:11.582 Today, we're going to walk together through Lansing's result for the first quarter of 00:00:11.582 -- 00:00:13.582 2026. 00:00:13.764 -- 00:00:15.666 Just a brief 00:00:15.666 -- 00:00:20.151 look into the agenda. I will start with the key highlights, followed by an update on 00:00:20.151 -- 00:00:24.515 the market environment, as always. And then I will take you through the financials in 00:00:24.515 -- 00:00:29.099 more detail, including the EBITDA, the cash flow, the working capital, and our balance 00:00:29.099 -- 00:00:34.489 sheet position. And finally, we will end with our current view on the outlook 00:00:34.489 -- 00:00:39.534 before we move to the Q&A session. Let me start with the key highlights of 00:00:39.534 -- 00:00:42.556 the first quarter of 2026. As 00:00:42.556 -- 00:00:48.402 we also discussed in March this year, the year began in a very challenging geopolitical 00:00:48.402 -- 00:00:53.426 and macroeconomic environment, in particular the escalation in the Middle East, 00:00:53.426 -- 00:00:58.604 which has increased the uncertainty across energy, chemicals, logistics, 00:00:58.604 -- 00:01:03.711 and finally also consumer markets. Against this backdrop, we delivered a revenue 00:01:03.711 -- 00:01:08.898 of €616 million, which is an 11% decline year-on-year 00:01:08.898 -- 00:01:14.266 and slightly below the fourth quarter of 2025, reflecting the 00:01:14.266 -- 00:01:18.412 still challenging market environment and lower pulp volumes. 00:01:18.412 -- 00:01:22.858 Please keep in mind that especially the first quarter of 2025...