Zumtobel Group AG (0MJH) Q1 2026 Earnings Call

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WEBVTT 00:00:01.432 -- 00:00:06.778 Good morning, ladies and gentlemen, and welcome to Zumtobel Group's conference call 00:00:06.778 -- 00:00:10.583 on the Q1 results for the 2025-26 financial 00:00:10.583 -- 00:00:15.609 year. With me on the call are Alfred Felder, our CEO, and Thomas 00:00:15.609 -- 00:00:20.655 Errath, our CFO. Alfred will walk you through the highlights of the quarter, while Thomas 00:00:20.655 -- 00:00:25.000 will discuss the financial performance. After the presentation, both gentlemen will be 00:00:25.000 -- 00:00:29.365 available to answer your questions. In case you have not a copy of the report and the 00:00:29.365 -- 00:00:34.272 presentation, you may find both documents for download on our webpage. 00:00:34.272 -- 00:00:39.298 After the call, a playback of this conference call will be available on our webpage 00:00:39.298 -- 00:00:43.281 as well. And with this, I hand over to Alfred. 00:00:43.364 -- 00:00:48.330 Good morning. Welcome, ladies and gentlemen, and thank you for joining us today for our 00:00:48.330 -- 00:00:49.772 Q1-25-26 00:00:49.772 -- 00:00:51.772 call. 00:00:52.546 -- 00:00:56.114 This first quarter was again not an easy one for us. 00:00:56.114 -- 00:00:59.601 Market environment remains very, very challenging. 00:00:59.601 -- 00:01:04.332 In addition, the geopolitical environment also difficult. 00:01:04.332 -- 00:01:08.681 And the demand of the new construction, especially in our core markets in Europe, is 00:01:08.681 -- 00:01:13.184 weak, triggered by a lot of shifts and delays. 00:01:13.184 -- 00:01:17.331 And obviously, that has resulted 00:01:17.331 -- 00:01:22.440 in figures what we will show in a minute. But before I go into this, as usual, I would 00:01:22.440 -- 00:01:24.324 like to 00:01:24.324 -- 00:01:29.39...