Operator

Ladies and gentlemen, welcome to the Montana Aerospace Q1 2026 Conference Call and Live Webcast. I am Sandra, the Chorus Call operator. [Operator Instructions] The conference is being recorded. The conference must not be recorded for publication or broadcast. At this time, it is my pleasure to hand over to Patrick Maurer, CFO of Montana Aerospace. Please go ahead, sir.

Patrick Maurer
Chief Financial Officer

Welcome, everyone, to the Q1 2026 earnings call of Montana Aerospace, a quarter that marks the continuation of our success story and above-market growth. To start and for everyone new in the call, I'd like to reiterate the USP of Montana Aerospace. We are a game changer in the aerospace industry because, one, we have a very integrated value chain, which brings reliability to our customers and mitigates our reliance on the outside world, especially important in these turbulent times.

Two, we have high material competence in aluminum, but also steel, titanium; three, the majority of our workforce and assets is located in best-cost countries, both in Europe, but also Asia. And four, we have unique process know-how, partially backed by our own IP and overall, are situated as a key player from an ESG perspective with our integrated business model.

Here, you see our long-term visibility of the orders, which has grown in the past from roughly EUR 4 billion in '21