Per Widerstrom
CEO & Director

So good morning, everyone, and thanks for joining us today for our full year 2025 results. I am Per Widerstrom, and I'm joined today by Sean Wilkins, our CFO.

We start with the agenda on Slide 2, and I will start with a brief overview of the year and some opening remarks, including an update on the strategic review. Sean will then take you through our financial performance, which is consistent with the trading update we gave a few weeks ago as well as covering Q1 2026 performance. We will then open up for questions.

Turning to Slide 3 and before getting into the results, I want to address the strategic review and the context for today's presentation. As you know, following the U.K. duty changes announced in November, the Board initiated a strategic review to assess the full range of options to maximize shareholder value. The process has been comprehensive, including wide-ranging third-party interest.

We recently confirmed we were in discussions with Bally's Intralot regarding a possible offer for the whole group, and those discussions remain active. As a result of the ongoing process, we are deliberately keeping today's presentation short and focus on the full year 2025 results and the brief trading update. We are not providing forward guidance.

And just to note ahead of the Q&A, we cannot provide further information on the strategic review or possible offer beyond what I have just said. So we will not take questions on these topics. What I will say, though, is that operationally, our priorities remain unchanged: disciplined execution, driving profitable growth and strengthen the balance