Good morning, everybody. I'm pleased to welcome you to our today's conference call. Today's agenda will cover our results for the first half of 2025, together with the outlook for the full year. I'm joined by our CEO, Dr. Christian Ricken, and our CFO, Andy Halford. They will take you through your presentation, which will be followed by a question-and-answer session. Now, I'm pleased to hand over to Christian. Christian, please. Yeah, many thanks, Jürgen. Good morning, everyone, and thank you for attending today's call. I'm very pleased to present our results for the first half of 2025. The good start to the year, which we reported for the first quarter, has continued. Our first half adjusted operating profit is up 21% on the first half of 2024. Therefore, we are confirming the outlook for 2025. Just a note on the environment. While economic and geopolitical uncertainty has led to market volatility, we have not experienced any directly discernible impact. We will, of course, remain vigilant and maintain our conservative approach to risk. Turning back to our results, net interest income is in line with expectations, reflecting the reduction in market interest rates, while loan impairment charges are markedly down on last year's first half. In addition, administrative expenses are down 8%, benefiting from the ongoing tight controls that we have put into place. In the Structured Property Financing segment, we recorded good margins and conservative loan-to-value ratios on newly acquired business. Overall, we achieved EUR 4.7 billion of new business in the first half of the year, which is substantially ahead of the same period in 2024. Our capital and liquidity ratios are very robust, and the 2025 funding plan has largely been executed already now. We also strengthened housing industry deposits, which reached an average of EUR 14 billion in the second quarter. One of the aims of the Aareal AMBITION strategy, which we launched earlier this year, is to increase return on equity. In the first half of 2025, we increased the return ratio to 9.1%, which compares to 8% in the first half of last year. This is just one aspect of our Aareal AMBITION strategy. I will say more about the milestones we have already achieved and the progress we have made on this strategic initiative later in this presentation. I will now hand it over to Andy, who will provide further details on 2025's first half figures. Andy, over to you. Thank you, Christian, and good morning, everybody. Let me start on slide five. As Christian has said, Aareal Bank has continued its good progress through the first half of 2025. Whilst net interest income is down 11% to EUR 473 million, this is as expected. I'll say a bit more on net interest income when we turn to the next slide. Loan impairment charges are down 34% to EUR 16 million. This is a significant decrease when compared to 2024's first half and reflects the work we have done and continue to do in carefully managing the loan portfolio. Administrative expenses have been tightly controlled, and excluding non-recurring items, are down by 8% to EUR 162 million. The other components line includes a EUR 20 million positive one-off, which comes from the successful restructuring of a former legacy non-performing loan. Overall, adjusted operating profit of EUR 223 million is therefore up by 21% over the first half of last year. The effective tax rate for the first half was 25%. AT1 costs are up by EUR 7 million compared to the first half of 2024. This is because of our new AT1 issue overlapping with the previous AT1 for about three months. Taken together, as Christian has noted, return on equity rose to 9.1% compared to 8% in the first half of last year. Our robust CET1 ratio, fully phased, increased to 15.5% at the end of June from 15.2% at the end of last year. Now, moving on to slide six, let's take a look at the key profit and loss account elements. Net interest income, as I said, is down 11%. This is in line with expectations and reflects a near halving in most European interest rates since the first half of 2024. There are two other important contributing factors, namely the interest effects of proactively strengthening our Tier 2 and senior non-preferred funding positions over the last 12 months and foreign exchange rates, with the euro strengthening against other currencies, notably the dollar, in the second quarter. We expect net interest income to continue at around the current quarterly run rate for the rest of the year. In the second chart on this slide, we have shown the stepped effects on the net interest income of the main factors driving change between this year's first half and the comparable period in 2024. Loan book growth adjusted for FX added around EUR 8 million, whilst the effect of lower interest rates in our banking and digital solutions segment reduced net income by EUR 15 million. Returns on treasury assets declined as a consequence of lower market interest rates and led to a reduction of EUR 33 million, whilst the strengthening of our subordinated funding, which I just mentioned, explains a further EUR 11 million reduction. Turning now to slide seven and administrative expenses, they continue to be very tightly controlled, and the efficiency measures that we have put in place are beginning to lead to reductions in costs. Our administrative expenses are down 8%, excluding EUR 15 million of one-off charges. Our cost-to-income ratio for the first half of 2025 was 32%. Let's now turn to risk provisioning. The loan impairment charge is down 34% to EUR 116 million. Provisions on the U.S. office portfolio, which only represent about 10% of our total portfolio and have actually been reduced by nearly $1 billion in the last 12 months, continue to be the largest part of the P&L charge, representing around 75% of the total. Impairment charges on the remaining 90% of the portfolio are running significantly below long-term averages. Management overlays stood at EUR 17 million at the end of June, following incorporation of EUR 40 million of the previous overlays into the underlying provision models. In addition, EUR 20 million of individual exposures have been allocated directly to stage three. The remaining management overlay has been retained to reflect continuation of uncertainties in the U.S. office market. I'd now like to hand back to Christian, who will talk about business developments in more detail. Yeah, thank you, Andy. First, I would like to expand further on the effect of interest rates in the Structured Property Financing segment. The gross margin contribution from the commercial real estate portfolio has remained stable. However, the increase in subordinated funding volumes to strengthen our balance sheet and the declining returns on our treasury assets led to the decrease in the segment's net interest income, which was down by 11% compared to the first half of last year. Now, let's turn to new business. We achieved a strong EUR 4.7 billion of new business in the first half of 2025. Looking at the geographical distribution of the first half's new business, 81% was in Europe, 17% in North America, and 2% in the Asia-Pacific region. As planned, we reduced activity in North America, concentrating on premium assets and long-standing trusted partners. We focused on other geographies, and we're particularly active in Southern Europe in the first half of this year. There were completed four large financings in the retail and logistics sectors. Our strategy on asset classes has also evolved. Hotel sector financing continues to be our largest area of new business. However, we are currently taking a more selective approach to new office financings while moving to introduce data centers in line with our Aareal AMBITION strategy. The average loan-to-value ratio for the first half of 2025's newly acquired business was a conservative 55%, which provides a comfortable risk buffer. Margins were also good, averaging 251 basis points. These figures show that we are actively identifying attractive market opportunities. Sustainability has been and continues to be an integral part of lending decisions. In the first half of 2025, we again supported the green transformation of commercial properties with EUR 1.1 billion of green loans included in our new business numbers. Let's now turn to the next slide, which shows our current portfolio. The portfolio totaled EUR 32.4 billion at the end of June, which is down when expressed in euros. However, a EUR 1.2 billion reduction, more than the net decrease, is explained by foreign exchange rate movements. As you can see from the two pie charts at the bottom of the slide, we are still broadly diversified by property type and region. We continue to have a clear focus on properties in the major metropolitan areas. We are not financing new construction, have exposure of only around 8% in Germany, and no exposure at all to Russia, China, or the Middle East. Driven by new business in the first half and an increase in properties now meeting the criteria in our green finance framework, green loans stood at EUR 8.5 billion at the end of June. The next slide tracks two key performance indicators of our performing portfolio. Loan-to-value and yield on debt. Our conservative approach is reflected in these indicators, which remain at healthy levels. The average loan-to-value ratio for our overall performing portfolio stands at a very respectable 56%. At 62%, the loan-to-value ratio for the office asset class has improved. I would also like to highlight the development of yield on debt, i.e., the ratio of a property's net income to the amount of the loan. This is a key indicator of gauging a property's profitability relative to the financing structure. Yield on debt for our entire performing portfolio is now at 9.9%, up from 9.6% at the end of 2024, and is now at our highest level for many years. Hotels, shopping centers, and logistics properties have particularly good yield on debt ratios. While the ratio for offices is currently a little lower, it has improved markedly over the last half year. Let's now turn to non-performing loans. Non-performing loans are stable at around EUR 1.4 billion compared to the balance at the end of last year. The coverage ratio also remains stable at 28%. We are continuing very active management of non-performing loans. The U.S. office market remains challenging and continues to represent around 80% of total non-performing loans. Other asset classes and geographies are operating normally. The non-performing exposure ratio, according to the EBA's methodology, stands at 3.3%. Let's now turn to our banking and digital solutions segment, where business with clients from the housing and energy industries has been very encouraging. First Financial Software, our joint venture with Aareon, is also successfully attracting new clients. Net interest income is down 11%, driven mainly by lower market interest rates. We expect net interest income to be stable around current levels for the remainder of the year. At EUR 13.7 billion, the average volume of deposits from housing industry clients remained at a high level during the first half of the year. Volume strengthened in the second quarter, and the six-month average reflects the first quarter at EUR 13.4 billion and the second quarter at EUR 14 billion. There is a clear upward trend. Rental deposits and maintenance reserves have increased yet again, confirming two particularly granular and sticky components of the deposit structure. They come from around 4,000 clients managing more than 9 million housing units. Now, let me hand over to Andy for an update on our funding, liquidity, and capital positions. Thanks, Christian. On to slide 16, this shows our broadly diversified funding mix, solid liquidity ratios, and capital markets activity. Following a very active first-half funding program, liability terms have been successfully extended. Deposits now total around EUR 18 billion, representing around 44% of our total funding volume. The largest part comes from the housing industry, and an additional EUR 3.3 billion is from retail deposits via platforms like Raisin. These retail deposits have an initial term of at least two years. Our liquidity ratios are solid, with the net stable funding ratio at 121% at the end of June and average liquidity cover ratio at 262% for the second quarter. Our full-year funding program was largely executed during the first half of the year. We increased our AT1 capital by approximately EUR 100 million by replacing the outstanding EUR 300 million issue with a new issue of $425 million, and we issued an additional EUR 100 million of Tier 2 capital. In addition, we placed bonds and family equivalent to around EUR 1.6 billion in total. This included both euro and Swedish krona issues. That was Aareal first Swedish currency issue since 2006. During the second half of this year, we will consider pre-funding the future plans depending on market opportunities. Next, on to our treasury portfolio on slide 17. Treasury portfolio stood at EUR 9.2 billion at the end of June 2025, up from EUR 8.2 billion at the end of 2024. In terms of asset classes, the portfolio comprises public sector borrowers, covered bonds, and a very small portion of bank bonds. It therefore has a strong liquidity profile. High credit quality requirements are reflected in the rating breakdown. 100% of the portfolio has an investment-grade rating, with 89% having a rating of AA or higher. Asset swap purchases ensure there is low interest rate risk exposure. The portfolio is almost exclusively in euros and has a well-balanced maturity profile. Turning now to capital on slide 18, first of all, I'd like to point out that we have moved from focusing on phased-in numbers in the charts on this slide to fully phased Basel IV figures, even though technically they don't apply until 2030. Please don't wonder about our ratios having come down compared to the equivalent slide in our first quarter results presentation. Now, looking at our ratios, they continue to be strong. Our CET1 ratio was up at the end of June and stood at 15.5% on the fully phased basis. The increase was mainly driven by a decrease in risk-weighted assets caused by foreign exchange rate movements. Both the Tier 1 and Total Capital ratios were further supported by additions to AT1 and Tier 2 capital during the first half of this year. As I just mentioned, our capital ratios are significantly above SREP requirements, and our leverage ratio of 7.1% at the end of June is also well above regulatory requirements. The CET1 ratio on a Basel IV phased-in basis reached 21.8%. The results of the most recent ECB stress test were published last Friday. To sum it up, the 2025 stress test results demonstrate the strength of our balance sheet. This year, the adverse scenario puts greater emphasis on tighter financing conditions, along with disorderly adjustments to real estate prices. Assuming materialization of geopolitical risks leads to commodity price increases originating in energy price hikes. The scenario also includes a moderate rise in short-term risk-free rates and a rise in sovereign credit spreads. Our stressed CET1 fully phased ratio is within the 11%- 14% range and in line with the EBA, ECB, SSM averages. CET1 fully phased depletion stands at the lower end of the bucket 2, which is 300- 599 basis points and thus is lower than the EBA, ECB average. Our stressed leverage ratio is above 5%. Now, I'll hand back to Christian for an update on our Aareal AMBITION strategy and the outlook for the rest of the year. Thank you very much, Andy. Earlier this year, we introduced a three-year growth plan called Aareal AMBITION. Here's a very brief recap, and then I will provide an update on progress. The plan has four strategic targets. First, to strengthen our core business, second, to expand our activities, third, to enhance efficiency, and fourth, to maintain a disciplined approach. We are applying these targets across the group. This means that we are continuing to grow the Structured Property Financing segment's business, both on and off balance sheet. In banking and digital services, we are targeting growth from existing housing market clients and by moving further into adjacent markets. We are optimizing the scalability of our infrastructure, and on the risk capital and funding side, we are maintaining tight control over our capital and liquidity ratios. Now, here's an update on our progress. Importantly, implementation is on track, and we are already achieving key milestones. In line with plan in the Structured Property Financing segment, we have added data centers as an asset class with the first financing of EUR 160 million in July. We have continued to achieve good new business margins and have revised our strategy in the U.S. In the Banking and Digital Solutions segment, housing industry deposits increased to an average of EUR 14 billion in the second quarter. We also began our international expansion plans with the entry into the Dutch market being underway. Next, in the context of risk funding and capital, we restructured a former legacy non-portfolio loan, and as Andy mentioned earlier, we achieved a EUR 20 million gain from this transaction. Our capital ratios have all strengthened with new AT1 and Tier 2 issues. Further initiatives are ongoing to optimize our liquidity profiles and risk-weighted assets. There has also been progress on our infrastructure plans. A new COO division has been created. The planned headcount reduction is on track, and costs are being reduced. As you've seen, we have reported an 8% reduction in administrative expenses for the first half of this year. Now, let us turn to the 2025 outlook. Our first half results are fully in line with expectations, and therefore we are confirming the 2025 outlook. We certainly recognize that recently heightened uncertainties generating increased market volatility may have implications, but so far we have felt no discernible impact. Let me summarize our outlook in this financing segment. We aim to expand our credit portfolio to between EUR 34 billion and EUR 35 billion, excluding foreign exchange movements. We are targeting between EUR 9 million and EUR 10 million of new business. In the Banking and Digital Solutions segment, our conservative estimate of deposits continues to be between EUR 13 billion and EUR 14 billion. All in all, we are targeting an adjusted operating profit of between EUR 375 million- EUR 425 million for 2025, excluding expected one-off charges of between EUR 20 million and EUR 25 million. I would now like to thank you all very much for your attention, and Andy and I are very happy to answer any questions you may have. Ladies and gentlemen, we will now begin the question-and-answer session. Anyone who wishes to ask a question may press star and then one on their telephone. You will hear a tone to confirm that you have entered the queue. If you wish to remove yourself from the question queue, you may press star and two. Questioners are requested to stay in loudspeaker mode while asking a question. Anyone who has a question may press star and one at this time. We have the first question coming from the line of Christian Leukers from CQS. Please go ahead. Yes, good morning. Thank you for taking the questions. I just wanted to get a bit more detail on future loan growth and where you see that going. I see that the data centers and you put out a press release about a new data center financing. Is that going to be a large proportion? Basically, geographically, where are you focused? You said Southern Europe for the last half year. Are we going to see any sort of changes in the weighting of the portfolio? Is the portfolio going to grow overall? Thank you. Yeah, the last question of our portfolio is, it should grow further. That's part of our Aareal AMBITION 2027 plan. From the current levels, we are planning to grow up to EUR 37 billion over the next couple of years. That is part of the plan. In terms of portfolio composition, I think you have rightly said that data center will become a part of our diversified portfolio. We may de-emphasize office, especially in the U.S. for the time being. We are growing in new asset classes, not only data center, but alternative living and others. There will be a constant rebalancing according to margin development, according to opportunities. Geographically, talking about data centers, I think in Europe, also Germany will play an important part. It's about France, U.K., Sweden, Netherlands. Geographically, I would also like to emphasize that we have a growing interest in Asia-Pacific. We are currently exploring opportunities there because that's the fastest growing area in the world and offering also very good margins. That's also part of our geographical diversification strategy. Thank you. As a reminder, if you wish to register for a question, please press star and one on your telephone. There are no more questions at this time. I would now like to turn the conference back over to Jürgen Junginger for any closing remarks. I'll wait for the last minute. Okay, now he's gone. Hand over to Mr. Jürgen Junginger, please. Thank you. Thank you all for joining our conference call and listening in. Sorry for the interruption. We have another questioner Montague Robert from Allspring Global Investments. Please go ahead. Yeah, thanks so much for the conference call. Can you give us any shining light on the speculation about your future ownership? I can tell you two things. One is that we will continue with not commenting on market rumors. Number two is this bank is a very strong bank with a functioning business model, with a sound strategy, with very highly motivated and passionate staff. I think we are well equipped to execute on our strategy, and we are not being distracted from rumors. Thanks so much. There are no more questions at this time. I would now like to turn the conference back over to Jürgen Junginger for any closing remarks. Okay. Thank you. If you have further questions, as always, the IR team is happy to take on follow-up calls and answer further questions. Have a good day, and thank you again for listening.