Hardy Mehl
CEO & Member of Management Board

Hello, everyone. Good afternoon. Ines and I are warmly welcoming you to our Q1 reporting and it's kind of a stellar reporting. But before we start, I have to hint you on our disclaimer that all the statements that we are making during this call are based on information we have at this time. There are forward-looking statements that by nature are subject to significant known and unknown risks and uncertainties. Let's start. We start, as usual, with an executive summary. I will after that hand over to Ines. She will do a deeper dive into our financials, our share development. And also the outlook that I will present at the end of the presentation. And then we have also enough time for hopefully lively Q&A session at the end of the call.

Let's start with our executive summary and with the market environment. And first of all, it's worth to mention really that we are seeing a broader market recovery in many vertical markets. We see manufacturing PMIs increasing and they are in the major economies above 50 and we see a positive trend. The German industry for vision components grew in bookings by 20% and in billings by 9% in the first quarter, which is definitely a larger or a stronger growth than what was expected from the participants in this industry.

We ourselves see as we have also high exposure to the Asian market especially a