Operator

Good afternoon, ladies and gentlemen, and welcome to the Q1 2026 AUMOVIO SE Investor and Analyst Call. [Operator Instructions] Let me now turn the floor over to your host, Lutz Ackermann, Head of Investor Relations.

Lutz Ackermann

Yes. Thank you very much, and a very warm welcome to everyone joining us today for AUMOVIO's Q1 2026 Results Presentation. With me for today's presentation is our CFO, Jutta Donges. We will provide an overview of our financial performance and operational achievements in the first quarter of 2026. As always, both the press release and today's presentation are available for download on our IR website. Following our remarks, we will open the line for a Q&A session with our sell-side analysts.

With that, I will hand it over to Jutta to begin with an overview of Q1.

Jutta Donges
CFO & Member of the Executive Board

Thank you, Lutz, and good morning, everyone, and thanks for joining our call today. Let me start with a brief overview of our first quarter performance. Overall, Q1 2026 is on track to deliver our full year outlook despite a continued challenging market environment. While our top line continues to reflect this environment, our results clearly demonstrate ongoing transformation progress and disciplined execution on profitability and cash. Adjusted sales in the first quarter came in at EUR 4.4 billion.

On a year-on-year basis, Q1 adjusted sales declined