Alexander Saverys
CEO & Member of Management Board

Good afternoon, everyone, and welcome to the CMB.TECH Q1 2026 Earnings Call. My name is Alexander Saverys, and I'm joined by my colleagues, Ludovic Saverys, Enya Derkinderen and Joris Daman. We will present to you the highlights of our first quarter and the title of this call is Firing On All Cylinders. We had a very interesting quarter, a very good quarter, and we would like to start with some financials and highlights, and I will hand it over to Ludovic.

Ludovic Saverys
CFO & Member of Management Board

Thanks, Alex. As usual, we will start with a high-level overview of our company. We're active in 5 different segments from dry bulk crude tankers, containers, chemicals to offshore energy. We had an interesting quarter, as Alex mentioned. Compared to last quarter, our total fair market value has increased. Our market cap has increased. We've reduced our leverage. We've reduced our CapEx commitments and increased our contract backlog.

Next slide, please. If we zoom in on the Q1 financials, we've ended the quarter with a net profit of $368.8 million. Notable in these figures are obviously our increased revenue, but we have been able to, while the quarter passed, delever quite a bit and reduced our margins with the banks. And so our interest -- our net finance expenses decreased from $113 million from last quarter to $81 million this quarter, delivering a very nice profit. The liquidity