Operator

Ladies and gentlemen, welcome to the Aquafil Group 2026 Q1 Results Presentation Conference Call. [Operator Instructions] Now I will hand the conference over to Giulia Rossi, Investor Relations. Please go ahead.

Giulia Rossi
Investor Relator

Thank you, operator. Good evening, everyone, and welcome to Aquafil Investor conference call. Today, we will update you on the company's first quarter 2026 results.

Before going ahead, let me remind you that this presentation may contain certain statements that are neither reported financial results nor other historical information. Any forward-looking statements are based on Aquafil's current expectations about future events and are subject to risks and uncertainties that could cause results to differ from those expressed by the statements. For a discussion of these risks and uncertainties, you should review the disclaimer in the presentation we issued today. I will now leave the floor to Mr. Giulio Bonazzi for his remarks.

Giulio Bonazzi
CEO & Director

Thank you, Giulia. The results of the first quarter of 2026 demonstrate with great satisfaction, the group's ability to translate commitments into tangible results.

Margins showed an excellent performance despite market uncertainty. A strong benefit derived from the cost rationalization projects launched in 2025. The plan of approximately EUR 17 million is generating the expected structural savings and cost containment actions will continue in the coming periods.

We also continue our debt reduction path with discipline. The net financial position decreased sharply compared to the first quarter of the previous year. Supported by a