Andrew Orchard

Good. Well, good morning, everyone, and welcome to this presentation of B&M European Value Retail's 2026 Financial Year Preliminary Results. My name is Andrew Orchard, Head of Investor Relations. And joining us today to present the results are Tjeerd Jegen, our Chief Executive Officer; and Pete Waterhouse, our Interim Chief Financial Officer. So we'll start as usual with some prepared remarks, and then we'll devote some time at the end of the meeting to your questions. We'll take those both from you assembled in the room and also anyone joining by the webcast can put a question into the chat function and we'll relay them into the room by that method. And with that, let me hand over to Tjeerd.

Gerardus Jegen
CEO & Director

Yes. Thank you very much, Andrew. Let's see if this works. Yes, it works. So yes, welcome to everyone to this presentation in the room and online. Before I'm going to hand over to Pete for the financial review of FY '26, I would like to share the key highlights of the year set out on Slide #3 behind me. So first of all, I'm pleased to announce profit came in at our midpoint of current guidance, adjusted EBITDA of GBP 459 million. I'm also pleased that on the back of good