Ana Fuentes

Good evening, and thank you very much for taking the time to attend the first quarter results of Gestamp. I am Ana Fuentes, M&A and IR Director.

Before we begin, let me refer you to the disclaimer on Slide #2 of this presentation, which has been posted on our website and sets out the legal framework under which this presentation must be considered. The conference call will be led by our Executive Chairman, Mr. Francisco Riberas; and our CFO, Mr. Ignacio Vazquez. As usual, at the end of the conference call, we will open the floor for Q&A session.

Now let me hand the call over to our Executive Chairman.

Francisco Jose Riberas de Mera
Executive Chairman

Good afternoon, and thanks for attending our call. In Q1 2026, the key highlights for us is, in terms of revenues, we have EUR 2.8 billion in revenues, which is flat compared with Q1 2025 at FX constant and clearly outperforming the market. In this period, we had a solid EBITDA in this first quarter of EUR 307 million, which is 10.8% margin in the quarter, which means 52 basis points better than the Q1 2025. And of course, in this quarter also, keep on delivering on Phoenix Plan, which is clearly giving us the message that we are right on track, even if the market in North America remains lower than expected.

Referring to the market, global vehicle manufacturing