Thank you very much, and welcome to our conference call also from my side. We just published and presented the quarterly report first quarter, and as usual, the first quarter is, yeah, a little bit slow.

We are top line basically on the same level compared to last year, and the EBITDA is a little bit below last year, and Robert will go into more details later on. In general, the general outlook view is that we see a slow and a little bit a reluctance in the industry, especially with the customer and in the curing business, but the whole industry also in other divisions.

Automotive is slow right now. We do have positive effects and a very active market in disinfection that is offsetting a little bit also from weaknesses in other business units.

As I said, the sales level is basically on last year, and we expect that we will have more business going forward, second, but especially third, fourth quarter. That is where we probably will see better revenues and better business.

The activity right now, of course, is beside active penetration with customers and quotations, is also a focus on after-sales support because, especially in those times where investment budgets are a little bit tight, usually the money for after-sales support, for maintenance and support upgrades is a little bit easier to achieve. That is where we focus right now on.

With this introduction, I would basically hand over to Robert to go through the number part.

Thank you, Franz, and also good afternoon from my side. As mentioned, I will take you through the financial development, focusing on revenue and EBITDA.

Then I will comment on the performance of our three business units, and finally on our capital structure and cash flow. I will basically start with the overall performance in the first quarter of our fiscal year '25/'26.

As our business has a meaningful project component, which naturally leads to quarter-to-quarter fluctuations in revenue as well as profitability. This is particularly also true in our first quarter, which we see here, which is typically kind of weaker for us.

Group sales came at €21.5 million, which is, yeah, broadly in line with our prior-year level. On the earnings, EBITDA amounted to €0.5 million, which is in the same amount below last year's level.

Basically, there were two key points to highlight on the earning side, as Franz also indicated: the mix and the volume effects, especially from the weaker development in curing, which weighed on the group profitability in the quarter. Secondly, on the cost line, we saw temporary headwinds from currency effects, in particular, these were unrealized intercompany currency exchange effects, and we had somehow also higher marketing and IT expenses in the quarter.

These were temporary burden on the quarter, with a softer contribution from the sales parts of our portfolio, especially in curing. Turning the slide, you can see that the quarter clearly had different dynamics across our three business units, starting with adhesive systems.

Sales were at €8.1 million, essentially at a prior-year level. EBITDA came at €0.7 million.

From a business perspective, this performance was within our expectations. Operationally, we continue to see a stronger adhesives business supported by a higher demand in medical technology applications, and this strange [trend?]

what we see right now is offsetting a weaker equipment business in the adhesive curing business in this segment. Overall, the unit is developing as anticipated.

To curing, we had a weak start in the new fiscal year. Sales were down to €6.6 million.

EBITDA was -€1.2 million. The key driver is demand.

Curing is to a large extent an investment goods business and, therefore, highly exposed to capex cycles. In our customer segments, especially mechanical and plant engineering, sheet-fed sector, we have seen further investment reluctance, with customers postponing business or stretching decision cycles.

From the management perspective, we are addressing this into two levels. On the commercial side, we are pushing initiatives, like Franz mentioned, for after-sales business, for life cycle solutions, to generate additional, more resilient revenue streams to support the recovery during the year.

On the cost side, curing remains under clear cost savings program. We are continuously aligning with the cost base with the current top line and the environment we are challenging.

The last business unit, disinfection, finally delivered the strongest performance in the quarter. Sales were up by 80% 18% to €6.7 million.

EBITDA was up to €1 million. This unit continues to benefit from a strong demand for water disinfection systems, and we are seeing a very solid momentum here.

Giving this positive development, we are actively strengthening the commercial execution. Specifically, we are stepping up our sales efforts in the Americas and Southern Europe to further leverage the momentum and expand our reach in these markets.

Moving to the next slide, briefly covers our capital structure and cash flow. Our equity ratio stands at 50 C 53% as of end of December, which underlines, yeah, a solid capitalization for the group.

On the net financial debt, from our point of view, two things are important. First, the net debt position largely reflects our investments in company buildings, and these are long-term secured.

Secondly, the net financial debt is continuously decreasing. Yes, we see a small catch-up in Q1, but nevertheless, overall, it is decreasing.

There's a kind of strong discipline in cash and financing. For the cash flow, in the weak quarter, we generated a slightly positive operating cash flow of about €200,000, but cash flow from investing were nearly €400,000, financing €600,000.

The overall cash change was €1 million for the quarter. With that, I would hand back to Franz for some words for the outlook.

I think concerning the outlook, of course, we are early in the year. Uncertainty in the markets are still there, but from the activity we see, from those activities we are taking, we reiterate and we keep our guidance: the revenue in the €95 million to €105 million range, and the EBITDA level should be between €6 million and €9 million.

As I said before, of course, at this point in time, some uncertainties are there, and I think it's not only for us, it's for everybody in the industry, and we will monitor very closely the activity. As Robert mentioned, cost cut and very cost-sensitive activities will be watched carefully.

With this outlook, I would like to hand over back to the operator and take questions. Yes, yeah, the last slide is basically the next activity on our side is then the shareholders meeting in end of March, March 25th.

We see the underlying demand. We see it especially in the water disinfection.

There are a lot of new projects. This is nothing about project timing.

It is in line with our sales focus and the demand on the market, no timing effects on this side.

Oh, sorry, I misunderstood here. That's correct.

Okay.

There is not this one or two big projects which make a big difference. There are always some pushouts from a customer side, but not a significant order of magnitude.

On the other hand side, we try to pull in from the second or into the first quarter at the end of the quarter. That's usually the game we are playing to, yeah, at the end of the quarter, that's usually pushouts and pull-ins.

Of course. First one element, of course, is increased top line.

More orders, top line increase will significantly contribute to higher profitability. You can see the revenue of 20 21 in the first quarter, if this would continue on the same level, of course, the profits will not be in the range.

That would mean the total number would be only €80 million or €84 million. We expect an increase in top line and, together with that, of course, also significantly increase in profitability.

Yeah. We can put it roughly.

It is strongly depending on the top-line development and the order income we will see in the next couple of weeks. Therefore, nevertheless, curing is for transformation.

We have measures in place which will lead, depending on our execution, to up to €1 €1 million in savings. Still, it depends how the business is running the next couple of weeks and month.

We never know how the euro against the US dollar will perform the next month. It strongly depends on the American president, what the US dollar is making up.

Nevertheless, we have a couple of IT projects in-house which are mandatory, upgrading some systems. Therefore, the expenses for IT will be a little bit higher than last year, which is budgeted, but nevertheless, we are strongly focusing on which return comes from which trade fair, from which events we are looking to.

Therefore, this will be balanced out, and we never know what the exchange rates will bring to the future.

We are not looking for expansion in terms of acquisition, if that is behind the question, or in huge investments. I think right now there are basically, as I said, partnering with companies which do have technology which is helpful, or with customers which have an access to markets on a sales front.

That is basically to broaden our offering to the market, to customers and, let's say, upgrade our offerings right now. It's not in the term that we are looking for new products in general or huge investment upfront.

We do have an ongoing R&D development where we do upgrades and improvement to our products, for example, more towards LED, cost reduction with some outsourcing parts, and so on. It's not an increase of investment of capital injection, what the question was here.

Thank you very much.