Amadeus FiRe AG (AFGZF) Q2 2026 Earnings Call Transcript

SA Transcripts 161.55K Followers Follow Amadeus FiRe AG ( AFGZF ) Q2 2026 Earnings Call August 4, 2026 2:30 AM EDT Company Participants Jorg Peters - Head of Investor Relations Robert Von Wulfing - Chairman of the Management Board, CEO & CFO Conference Call Participants Simon Van Oppen - Kepler Cheuvreux, Research Division Presentation Jorg Peters Head of Investor Relations Good morning, everyone, at the earnings call of Amadeus FiRe AG regarding the Q2 6 months interim report we disclosed yesterday after the trading hours of the stock exchange. I'd like to welcome our CEO, Robert Von Wulfing, who will guide us through the presentation in a moment, followed by a Q&A session via audio line and chat. And with that, I hand over to you, Robert. Robert Von Wulfing Chairman of the Management Board, CEO & CFO Thanks, Jorg. Good morning, everybody. So half year figures of Amadeus FiRe what will be our message for today. We started the current year on a positive note in Q1 and experienced a second quarter that surprised with a worsening sentiment in German economy. Well, nevertheless, earning opportunities in the second half year should be better than in the first half year. 2026 remains a highly challenging year for the German economy following a decline in GDP in '24 and '25. The economy expanded by only 0.2% again in the second quarter of '26. The persistently high level of uncertainty intensified in the second quarter following the Iran war and the associated economic implications. A good indicator here in Germany is the ifo Business Climate Index. The ifo Index is composed of the current situation of corporations and the business expectation, while the assessment of the current situation remained stable at an exceptionally low level but stable throughout 2026, the expectation level worsened. The significant fall here from 90.4 points in February to 83.5 points in April reflects the pronounced