Operator

Ladies and gentlemen, welcome to the Uniper Analyst and Investor Conference Call First Quarter Results 2026. At our request, this conference will be recorded. [Operator Instructions] May I now hand you over to the Executive Vice President, Group Finance and Investor Relations, Sebastian Veit, who will start the meeting today. Please go ahead.

Sebastian Veit
Executive VP & Head of Investor Relations

Thank you, operator, and good morning, everyone. I'm pleased to welcome you to our results call on the first quarter results 2026. Next to me on today's call are Michael Lewis, our Chief Executive Officer; and Christian Barr, our Chief Financial Officer. Michael will present company highlights followed by Christian covering financial results for Q1 2026. And as usual, we will wrap up with a Q&A session at the end. And now, let me hand over to Michael Lewis, please.

Michael Lewis
CEO, Chief Commercial & Sustainability Officer and Chairman of Management Board

Thanks, Sebastian, and very good morning, everyone, from my side, and thanks very much for joining the call. And let me start by highlighting the results of the first quarter, and I'm pleased to say we had a very good start into the financial year of 2026. Our operational earnings in the first quarter matched our expectations as presented during our full year 2025 Investor and Analyst Call in March. Group adjusted EBITDA ended up with EUR 407