Alexander Reindler
Chairman of the Management Board & CEO

[Audio Gap] Market environment is indeed very challenging. Despite that, we have quite good progress on our strategy execution. The overall quarter 1 results for turnover, we are at EUR 61.2 million, which is a decline of minus 4% versus previous year. Despite this environment and despite the challenging market environment, we invested into the Leifheit 2345wret654332wsadbrand, which showed positive impulse where I will go back later. We see on the gross margin continuous very good progress. However, we are still doing more on the efficiency and the resilience side. And as reported previously, we now started and launched the Focus program to enhance efficiency and resilience. On the EBIT, we saw an EBIT decline of EUR 2.8 million in the first quarter, which is due to our increased marketing investments. Still, despite that, we are confident for the remainder of the year and confirm our forecast for the full year 2026.

If we look at the market side at the consumer side, we definitely see a significantly worsened consumer climate. Main consumer indexes, you see here the European and the German, the ones we are tracking are in the case of the German, especially on the lowest point since COVID, especially the willingness to purchase or the consumption is weak. And we saw especially the input now on the petrol prices, which has an immediate effect on certain KPIs we look at. So definitely a very challenging environment we are in.

How does the turnover development