Norma Group Ag Name Akt (NOEJF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.098 -- 00:00:02.020 Yeah, hello. 00:00:02.020 -- 00:00:06.606 From my side, a warm welcome to all the participants here. 00:00:06.606 -- 00:00:11.992 I'm here in Maintal together with Annette Stiebel, CFO to Norma Group, 00:00:11.992 -- 00:00:15.396 and we'll take you, as usual, through the slides. 00:00:15.396 -- 00:00:20.883 Also, as usual, answering of questions will be pushed to the back end 00:00:20.883 -- 00:00:23.126 of the presentation. 00:00:23.126 -- 00:00:26.890 Let me start with a few general remarks. 00:00:26.890 -- 00:00:31.904 I guess it's obvious to everybody that Norma is a company in a 00:00:31.904 -- 00:00:36.995 period of change. Our decision to sell the water business has been 00:00:36.995 -- 00:00:42.367 the first very decisive step to free up resources and enable future 00:00:42.367 -- 00:00:48.209 growth and at the same time crystallize value inherent in that water business. 00:00:48.209 -- 00:00:53.335 But that alone is not enough. There still is a lot of homework to be done in 00:00:53.335 -- 00:00:58.662 the company, in the remaining company, to ensure that the margins, the business 00:00:58.662 -- 00:01:02.086 setup, the cash flow of that 00:01:02.086 -- 00:01:06.129 remaining business meets our expectations. 00:01:06.332 -- 00:01:12.509 Above all, this means putting structure of our company to the test. 00:01:12.509 -- 00:01:17.938 This morning we announced to our employees that we are starting a transformation. 00:01:17.938 -- 00:01:23.167 We will further elaborate on this one, the details for you as shareholders towards 00:01:23.167 -- 00:01:28.776 the back end of the presentation. But let's first start with the Q1 00:01:28.776 -- 00:01:33.924 numbers and take it by walking through the various 00:01:33.924 -- 00:01:35.92...