Ströer SE & Co. KGaA (SOTDF) Q2 2026 Earnings Call

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WEBVTT 00:00:00.470 -- 00:00:06.113 Thank you very much. Dear investors, dear analysts, welcome to today's Q2 and H1 00:00:06.113 -- 00:00:11.156 2026 earnings call. Let us dive straight into the numbers and 00:00:11.156 -- 00:00:16.779 details. On the top line, revenues in the first half amounted to 1 billion 00:00:16.779 -- 00:00:22.041 and 37 million euros, compared to 980 million euros in the prior 00:00:22.041 -- 00:00:28.844 year period. On an organic basis, growth accelerated from 0.5 to 2.7 percent 00:00:29.228 -- 00:00:33.030 While on a reported basis, revenue grew by 6%. 00:00:33.030 -- 00:00:38.053 Moving down the P&L, EBITDA adjusted reached 273 million euros 00:00:38.053 -- 00:00:43.336 compared to 266 million euros last year. This represents 00:00:43.336 -- 00:00:46.897 a 3% year-on-year increase. 00:00:47.279 -- 00:00:52.342 On EBIT adjusted, we reported 150 million euros up from 109 million 00:00:52.342 -- 00:00:55.184 euros in H1 2025. 00:00:55.184 -- 00:00:58.600 This corresponds to an increase of 6%. 00:00:58.600 -- 00:01:03.721 Net income adjusted amounted to 56 million euros compared to 52 million euros 00:01:03.721 -- 00:01:09.422 in the prior year period. This translates into a 7% year-on-year 00:01:09.422 -- 00:01:10.822 increase. 00:01:10.822 -- 00:01:16.363 Turning to cash flow, free cash flow adjusted remained broadly on the prior year level. 00:01:16.363 -- 00:01:21.484 For the first six months, we reported minus 1.9 million euros compared with 00:01:21.484 -- 00:01:25.905 minus 1.6 million euros in H1 2025. 00:01:26.316 -- 00:01:32.460 Christoph will elaborate on this in detail later in the final section. 00:01:32.460 -- 00:01:37.743 Finally, CapEx before M&A amounted to 51 million euros, up 12 00:01:37.743 -- 00:01:42.024 million euros a...