Mercialys Paris Ord (MEIYF) Q4 2025 Earnings Call

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WEBVTT 00:00:00.976 -- 00:00:05.721 Ladies and gentlemen, welcome to the Merchalise presentation regarding its 2025 full 00:00:05.721 -- 00:00:08.924 year results. It will be structured in two parts. 00:00:08.924 -- 00:00:12.888 First, a presentation by Merchalise management team, represented by Mr. 00:00:12.888 -- 00:00:18.113 Vansan Rava, Group CEO. Afterwards, there will be a Q&A session during 00:00:18.113 -- 00:00:22.778 which you can ask oral questions through your computer or by joining the conference call. 00:00:22.778 -- 00:00:28.142 I will now hand over to Mr. Vansan Rava. Sir, please go ahead. 00:00:28.634 -- 00:00:33.820 Good morning, everyone. Thank you for attending this presentation 00:00:33.820 -- 00:00:37.884 of our 2025 full year results. 00:00:37.884 -- 00:00:44.011 Our presentation today is built around four main messages. 00:00:44.011 -- 00:00:49.858 First of all, the momentum created by the repositioning of our portfolio. 00:00:49.858 -- 00:00:55.624 Secondly, the foundations we have put in place to gain the preference 00:00:55.624 -- 00:01:01.422 of retailers and consumers. Thirdly, the strength of our results 00:01:01.422 -- 00:01:04.007 and our financial structure. 00:01:04.007 -- 00:01:08.594 And finally, our distribution policy and our outlook for 2026. 00:01:08.594 -- 00:01:10.594 2025 00:01:13.822 -- 00:01:19.972 was special for us. In October, we celebrated Mercedes' 25th 00:01:19.972 -- 00:01:21.972 anniversary. 00:01:21.976 -- 00:01:23.658 2025 00:01:23.658 -- 00:01:29.186 also marked a change of momentum for the company. 00:01:29.186 -- 00:01:34.653 For several years now, we have been undergoing a profound transformation 00:01:34.653 -- 00:01:36.896 of our portfolio. 00:01:36.896 -- 00:01:38.358 2025 00:01:38.358 -- 00:01:44.286 showe...