Andreas Trösch
Head of Investor Relations

Hello, everyone. This is Andreas Trösch from Investor Relations. Also on behalf of my entire team, I wish you a very warm welcome to our conference call on the first half year results '25/'26. With me in the room are our CEO, Miguel Lopez; and our CFO, Dr. Axel Hamann, and also my colleagues from the IR team. Before I hand over to the CEO and CFO for their presentations, some housekeeping. All the documents, as usual, for this call are available in the IR section on the website. The call will be recorded, and a replay will be available shortly after the call. After the presentations, there will be the usual Q&A session for our analysts. [Operator Instructions]

And with that, I would like to hand over to our CEO, Miguel Lopez.

Miguel Angel Lopez Borrego
CEO & Chairman of the Executive Board

Thank you, Andreas, and hello, everyone. Welcome to our quarter 2 conference call. As usual, I would like to give you a concise management summary for the second quarter of fiscal year '25/'26, covering our performance, our portfolio progress under ACES 2030 and the key milestones with regard to our green transformation efforts. Let me start with some examples for our portfolio efforts under ACES 2030. At headquarters, we have started the transformation towards the financial holding structure, aiming to be finalized and fully effective by 2030 at the latest. This goes hand-in-hand with a declining cost base.