Mutares SE & Co. KGaA (MUTRF) Q2 2025 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:04.177 A very warm welcome to our H1 2025 00:00:04.177 -- 00:00:06.518 earnings call. 00:00:06.961 -- 00:00:12.309 I'm very happy to introduce you to a new format of the earnings call, which 00:00:12.309 -- 00:00:17.637 from now on we would like to share with you and we would like to host you. 00:00:17.637 -- 00:00:19.600 And in the new format, 00:00:19.600 -- 00:00:24.247 we want to introduce and we want to have more detailed insight on our portfolios. 00:00:24.247 -- 00:00:29.879 And as you can see, we are here now in a studio at the Magirus 00:00:29.879 -- 00:00:34.007 Museum in Ulm, presenting the Magirus Museum in Ulm. 00:00:34.007 -- 00:00:39.699 And later on, you will even get more insights on Magirus presented by 00:00:39.699 -- 00:00:43.442 the CEO of the company. 00:00:44.395 -- 00:00:49.020 Let me first get you through the agenda. So we're going to kick off with a reminder on 00:00:49.020 -- 00:00:54.847 a business model. Then Mark will lead through H1 financials. 00:00:54.847 -- 00:00:59.972 I'll give you a portfolio update where we will do some changes here. 00:00:59.972 -- 00:01:05.458 And then after the Margiris Insight, you also get an outlook on the second half 00:01:05.458 -- 00:01:07.959 of 2025. 00:01:07.981 -- 00:01:11.605 But first of all, let me remind you on our business model. 00:01:11.605 -- 00:01:17.398 And looking back on H1, I think it's also needed after facing 00:01:18.823 -- 00:01:23.952 the results out of the Gotham report, having the BaFin part, having the 00:01:23.952 -- 00:01:29.240 Seneca year and things. So I'm very sure H2 will 00:01:29.240 -- 00:01:34.389 be a very business focused, buying companies, selling companies, making shareholders, 00:01:34.389 -- 00:01:37.754 stakeholders and at the end als...