Operator

Good day, and thank you for standing by. Welcome to Galderma's Q1 2026 Trading Update Conference Call. [indiscernible] Please be advised that today's conference is being recorded. I would now like to turn the conference over to Emil Ivanov, Head of Strategy, Investor Relations and ESG, to introduce the call. Emil, please go ahead.

Emil Ivanov
Head of Strategy, Investor Relations & ESG

Thank you. Welcome to Galderma's 2026 First Quarter Trading Update Call, which is planned for 45 minutes. As customary, the press release was published at 7:00 a.m. Central European Standard Time today and can be viewed on our corporate website at any time. Today's presentation slides as well as a recording of the webcast will be made available on our website after the call. Please be advised that today's presentation contains forward-looking statements, which should be treated with the appropriate level of caution as detailed on the slide. Let me now introduce today's trading update webcast. Dr. Flemming Ornskov, CEO of Galderma, will provide performance highlights for the first quarter.

Thomas Dittrich, CFO, will then present the trading update and the financial outlook for the full year. Both Flemming and Thomas will be available to answer questions from financial analysts