Operator

Ladies and gentlemen, welcome to the Hapag-Lloyd Analyst and Investor Q1 2026 Results Conference Call and Live Webcast. I'm [Moritz], the Chorus Call operator. Hapag-Lloyd today is presented to you by CEO, Rolf Habben-Jansen; and CFO, Mark Frese. [Operator Instructions] The conference is being recorded [Operator Instructions]. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Rolf Habben-Jansen. Please go ahead, sir.

Rolf Jansen
Chairman of the Executive Board & CEO

Thank you very much, and thanks, everyone, for making the time to join us here today. We'd like to give you a quick rundown of Q1 and hopefully also a little bit a glimpse into the future. Maybe if we start with what I would call the key developments for the first quarter, then I think it's fair to say that we definitely had an unsatisfactory start to the year. There are reasons for that. But nevertheless, if we look back at Q1, I think we would have hoped for a better quarter. If we look at the reasons behind it, one very big reason is definitely the adverse weather conditions that we've had in North and Southern Europe in January and February and a bit similar on the East Coast of the United States as we are very heavily exposed to those markets much stronger than many others that hit us