Tessenderlo Group N.V. (TSDOF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and good afternoon, everyone. Welcome to our webinar for our half-year results. We will start with a presentation from our CEO Luc Duc and our CFO Miguel de Potter. After that, we will give some analysts the chance to ask a live question, but for everyone else, if you have a question, please put it in the Q&A box, and at the end of the session, we will also try to answer as many questions as possible in the Q&A. So with that, I hand over to Luc. Good morning, good afternoon. Welcome and thank you all for joining us on this call on our H1 results. As you can imagine, it has been a busy first half year and also a turbulent first half year with all things happening in the world in respect of the Strait of Hormuz, etc., But I must say I'm extremely pleased with how the troops worked, how we as a company performed managing the different hurdles that came on the path during the first six months. So I will start by first giving you an overview of some of the key events of this morning. This will then be followed by Miguel, who will highlight you everything on the financials and the financial performance of the company. So first let me start by repeating that the joint venture with the Senderlo Group and Darling Ingredients entered into a definitive agreement in December 2025. This partnership aims to create a top-tier collagen-based health, wellness, and nutrition products company poised to capitalize on global collagen markets. In the JV, Senderlo will have 15% and Dari will have the majority of 80 items. Of course, we as Senderlo will be present in the board and we will further contribute to the success of our gelatin business. So the JV will combine darling ingredients collagen and gelatin with our branded Rousselot, with the branded Rousselot and our PV lin...