Operator

Good morning, ladies and gentlemen, and welcome to the HELLA Investor Call on the Results for the First Quarter of Fiscal Year 2026. This call will be hosted by Professor Peter Laier, the CEO; and Philippe Vienney, the CFO of HELLA. [Operator Instructions]

Let me now turn the floor over to your host, Peter Laier.

Peter Laier
CEO & Chairman of the Management Board

Thank you very much, and good morning to everybody and a warm welcome to our Q1 Investor Call. And we have prepared as usual short agenda for today's call. I would like to talk at first about our achievements in Q1 followed by the financial results. Then we will talk about the financial outlook of 2026 again. And at the end, we will summarize with key takeaways. And after that, we are for sure open and happy to take your questions.

Next slide. Let me talk about achievements at first. You see here, sales in first quarter is somehow flat. We have increase of cost measures to safeguard our profitability.

If you look a little bit to the sales at first more in detail. As I mentioned, at constant FX sales is year-over-year, nearly flat with a slight increase by 0.2%. We achieved an absolute figure of EUR 2.001 million (sic) [ EUR 2.001 billion ] sales.

If you look a little bit more to the details of sales, you see