Operator

Welcome to the Vicat First Quarter 2026 Presentation. [Operator Instructions] Now I will hand the conference over to Hugues Chomel, Deputy CEO and Group CFO; and Pierre Pedrosa, Head of Investor Relations. Please go ahead.

Hugues Chomel
Deputy Chief Executive Officer of Finance Department

Good afternoon, ladies and gentlemen. Welcome to Vicat Q1 2026 Trading Update Presentation. I am Hugues Chomel, Deputy CEO and CFO of the Vicat Group. I am joined by Pierre Pedrosa, Head of Investor Relations. On Slide 2, as a preliminary remark, we would like to draw your attention to the fact that the forward-looking information presented here reflects our current assessment of expected trends across the group various markets and should not be regarded as forecast.

Starting with the key highlights of the quarter on Slide 3. The group delivered a solid start in an international environment that remains particularly complex. Organic sales growth was strong at 8.5%. This performance was driven by price increases in Europe, a pickup in volumes in the U.S. and strong momentum in emerging countries. Once again, this illustrates the strength of Vicat's model, which is built on a balanced geographical presence across developed and fast-growing markets. On a reported basis, sales grew 4.1%, taking into account persistent foreign exchange headwinds. On the back of this first -- of this robust first quarter, we confirm our full year 2026 guidance with a slight like-for-like growth expected in both sales and EBITDA.

Lastly, we have updated our geographical segmentation in order to better reflect