Reach PLC (RCH) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.977 Good morning, everyone. Thank you for joining today online or in person. 00:00:03.977 -- 00:00:06.621 It is good to see some familiar faces in the room. 00:00:06.621 -- 00:00:10.787 For those of you joining online, I apologise, there is some construction noise outside, 00:00:10.787 -- 00:00:13.912 so I hope it's not affecting the audio too much. 00:00:13.912 -- 00:00:17.598 But welcome to the REACH full year results for 2025. 00:00:17.598 -- 00:00:23.082 Before I start, I would just highlight the usual disclaimer slide. 00:00:23.082 -- 00:00:27.549 My name's Piers North, I'm Chief Executive Officer of REACH PLC and today I'm joined 00:00:27.549 -- 00:00:31.475 for these results by Darren Fisher, our Chief Financial Officer. 00:00:31.475 -- 00:00:35.481 I'm going to start with some highlights of the year and then pass to Darren for some 00:00:35.481 -- 00:00:38.206 of the detailed overview of the financials. 00:00:38.206 -- 00:00:43.113 Before I will return and talk about some of the progress we've made this year, explain 00:00:43.113 -- 00:00:48.682 some of the key developments since the year end, but also our priorities for 2026. 00:00:48.682 -- 00:00:53.088 So let's talk about 2025 at a summary and high level. 00:00:53.088 -- 00:00:58.256 It has been a busy year for us. We've clearly had a good financial performance with growing 00:00:58.256 -- 00:01:02.943 profits and standout operating margin of over 20%. 00:01:02.943 -- 00:01:07.309 We've made some really good strategic progress against the priorities that we set out 00:01:07.309 -- 00:01:12.337 last year and were designed for the changing landscape that we operate in digitally. 00:01:12.337 -- 00:01:18.145 And that's in video, in AI, but also in diversifying our revenues with...