Clariane SE (KRNMF) Q2 2026 Earnings Call Transcript

Thank you very much. Ladies and gentlemen, dear investors and financial partners, good afternoon, and welcome to the Clariane Group's 2026 half year results presentation. I'm Sophie Boissard, Chief Executive Officer of the Clariane Group; and together with Gregory Lovichi, the Group Chief Financial Officer, I will present our results for the first half of 2026, the refinancing transaction we completed during the period and our outlook for '26 and '28. Let me start with the agenda. I will begin with the main highlights of the first half and the progress we made on our operational, financial and non-financial priorities. Gregory will then take you through the income statement, cash flow, debt and our owned real estate portfolio. I will return for the final section on the drivers of our performance and of course, on the outlook. Let me now start with the key highlights. The first half results reflect the sound execution of our roadmap and confirm the solidity of our fundamentals. The strong improvement in our operating performance underpinned by the quality of our activities, the discipline in execution and the relevance of our model place us in a very favorable position with regard to our medium-term objectives. Three messages stand out. First message, the group delivered a clear improvement in operating performance. As you see here on the slide, organic revenue growth