Operator

Thank you for joining our LANXESS's Q1 Results 2026 Conference Call. [Operator Instructions]

First, we will hand over to Eva Husmann, Head of Investor Relations, for opening remarks.

Eva Frerker

Yes. Thank you, and welcome to our Q1 call. Before we start, please take note of our safe harbor statement. And as always, we have our CEO, Matthias Zachert here; as well as Oliver Stratmann, our CFO. Matthias will start with a quick presentation before we answer your questions.

Matthias, please go ahead.

Matthias Zachert
Chairman of the Board of Management

Thank you, Eva, and welcome all of you to our conference call on first quarter '26. I start the presentation straight on Page 4, where we comment on the key financial indicators.

So as far as Q1 is concerned, we guided in March already that it will be a soft start to the year. We've seen lower volumes, especially in January, February, a positive tone on March where business started to improve from the volume side, and was clearly a difference compared to the previous months and also towards the fourth quarter.

Please take note of the fact that, in the comparison base last year, we have a relatively strong dollar and still the contribution from our urethanes business units, both has changed.