Piaggio & C. SpA (PGGCY) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.854 Good afternoon, this is the Coruscall conference operator. 00:00:02.854 -- 00:00:08.060 Welcome and thank you for joining the Piaggio full-year 2025 financial 00:00:08.060 -- 00:00:10.961 results conference call. 00:00:11.023 -- 00:00:14.707 As a reminder, all participants are in listen-only mode. 00:00:14.707 -- 00:00:19.532 And after the presentation, there will be an opportunity to ask questions. 00:00:19.532 -- 00:00:23.836 Should anyone need assistance during the conference call, they may signal an operator 00:00:23.836 -- 00:00:27.858 by pressing star and zero on their telephone. 00:00:28.162 -- 00:00:31.546 At this time, I would like to turn the conference over to Mr. 00:00:31.546 -- 00:00:34.810 Raffaele Lupotto, Investor Relations of Piaggio. 00:00:34.810 -- 00:00:37.391 Please go ahead, sir. 00:00:37.554 -- 00:00:42.861 Hello, everyone, and welcome to Piaggio Group's full year 2025 financial results conference 00:00:42.861 -- 00:00:47.867 call. Joining us today are Matteo Colanino, Chairman of Board of 00:00:47.867 -- 00:00:53.374 Directors of Piaggio Group, and Alessandra Simonotto, Group Chief Financial Officer. 00:00:53.374 -- 00:00:58.705 The slides supporting today's presentation are available on the Piaggio Group website. 00:00:58.705 -- 00:01:04.413 Before we begin, I would like to remind you that during today's call, we may make forward-looking 00:01:04.413 -- 00:01:10.562 statements based on Piaggio's current expectations and projections about future events. 00:01:10.562 -- 00:01:15.569 By their nature, these statements are subject to risks, uncertainties, and 00:01:15.569 -- 00:01:21.077 other factors that could cause after-results to differ materially from those expressed 00:01:21.077 -- 00:01:23.100 or implied...