Michael Paska
Chief Investor Relations Officer & Chief Risk Management Officer

Good afternoon, and welcome to Monde Nissin's First Quarter 2026 Earnings Call. I am Mike Paska, Head of Investor Relations.

On today's call with me are Henry Soesanto, Chief Executive Officer; Jesse Teo, Chief Financial Officer; and from the Quorn team, we have with us David Flochel, Chief Executive Officer; and Nick Cooper, Chief Financial Officer.

By now, everyone should have access to today's earnings presentation and press release, all posted on the PSE Edge website earlier today. This information can also be found in the Investors section on Monde Nissin's website.

And finally, before we begin, please note that the financial information being presented is unaudited. And during the course of this call, management may make forward-looking statements based upon current assumptions and expectations. These are not guarantees of future performance, and I encourage everyone to read the disclaimer in today's presentation.

Now I'd like to turn the call over to Henry for our first quarter 2026 business performance. Henry?

Henry Soesanto
CEO, Executive VP & Director

Thank you. Thank you, Mike. Good afternoon, everyone. Before we get into the details, I wanted to share the key takeaways for this earnings call.

For APAC BFB, top line growth in the first quarter was driven by volume growth across all businesses. Growth was led by our domestic business, which grew 9.5%. This was partially offset by our international business, which declined due to the Gulf crisis.

Gross margin was flat year-on-year, but we saw impacts from carryover