Operator

Good evening. This is the conference operator. Welcome, and thank you for joining the Valeo First Quarter 2026 Sales Conference Call and Webcast. [Operator Instructions] At this time, I would like to turn the conference over to Ms. Marisa Baldo, VP, Financial Communication and Investor Relations of Valeo. Please go ahead, madam.

Marisa Baldo

Good evening, everyone, and welcome to Valeo's first quarter sales conference call. I'm Marisa Baldo and joining me is our CFO, Edouard de Pirey. The format for today will be a presentation for 10 to 15 minutes, followed by a Q&A session for sell-side analysts.

For your reference, the press release and slides are already available on our website at www.valeo.com. A replay of the call will also be available on our website. Before Edouard begins, I want to quickly directly -- direct you, sorry, direct your attention to the disclaimer on Slide 19, which I invite everyone to read. Thank you again for joining us. Edouard, the floor is now yours.

Edouard de Pirey
Chief Financial Officer

Thank you. Thank you very much, Marisa, and good evening to all, and thank you for joining Valeo's First Quarter 2026 sales presentation. So let's start with the key takeaways for the quarter on Slide 2. In a global environment that remains volatile, we delivered a solid performance. Total sales were up 1.3% on a like-for-like basis, consistent with our full year objective. OEM sales decreased slightly like-for-like in a market down by 3% resulting