Operator

Ladies and gentlemen, we warmly welcome you to the 2025 results conference call and webcast of the SCHMID Group. I am pleased to welcome the CFO, Arthur Schuetz; and CSO, Roland Rettenmaier, who will guide us through the presentation shortly, after which we will move on to the Q&A session.

Before we begin, I'd like to remind everyone that today's discussion will contain forward-looking statements within the meaning of applicable securities laws. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those described in these forward-looking statements.

Please refer to our filings with the U.S. Securities and Exchange Commission, including our annual report on Form 20-F for a discussion of these risks and uncertainties. We undertake no obligation to update any forward-looking statements, except as required by law. In addition, today's discussion may include certain non-GAAP financial measures. Reconciliations to the most directly comparable GAAP measures can be found in our earnings materials and filings.

And with that, I'm handing over to you, Arthur.

Arthur Schuetz
Chief Financial Officer

Thank you. Before we begin, a brief personal note. I joined SCHMID in January because I believe this company combines great technology, strong market positioning and significant value creation potential. I also invested personally because I believe management and shareholders should be aligned.

2025 was a year of transitioning and repositioning of SCHMID. We saw a significant recovery of our operations during the second half. And over the last 6 months, we achieved some very important milestones. We secured solid financing for the group through our $30 million convertible announced in January. And we just