Good morning everyone, and welcome to the press conference of our Strategy Day. We are pleased to welcome you in our wonderful store in Hamburg. My name is Fabienne Caron. I am heading the Investor Relations and Corporate Communications department. Before we begin, let me briefly refer to the disclaimer included in today's presentation. We meet today in an hybrid setting, the event is being recorded. A replay will be made available afterwards. The presentation will last around 30 minutes. After that, we will have enough time for your questions. They can be asked either by phone or via the chat box below the webcast. Now, without further ado, let me hand over to our CEO, Remko Rijnders. Good morning, everyone, from me as well. Thank you, Fabienne. Three years ago, we introduced our Experience Electronics strategy to you. We had a clear target to reach EUR 500 million adjusted EBIT by fiscal year 2025-2026. Some were skeptical. Indeed, it was ambitious. It represented nearly doubling our adjusted EBIT over three years. We ll, we are going to make it. Today, I am proud to say we will hit that mark. We worked hard to bring our Experience Electronics strategy to life, and none of it would have been possible without our 50,000 employees, without their dedication, commitment, and hard work. Thank you again for everything you do. What we have built is great, but this is just the foundation. Because our world is changing, AI, digitalization, endless options. We have infinite choice. There is one thing that helps us make decisions: trust. Trust is the decisive factor for our customers. Our brands embody trust. MediaMarkt, MediaWorld, and Saturn are beloved by millions of customers across Europe. They stand for tech, innovation, and for customer centricity. The customer is at the center of everything we do. We create long-term relationships across the entire customer life cycle. We create trust in every interaction, online, in-store, or through our services. We create value and are determined to become best in class. Financially, this translates into a clear ambition. By 2028-2029, we are targeting EUR 800 million in adjusted EBIT, supported by operational improvement and expected synergies from the partnership with JD.com. That means increasing our adjusted EBIT by 60% over the next three years. We are turning customer experience into moments of trust and trust into sustainable growth. We can see where we are moving fast, and we are not slowing down. You all know that we announced our partnership with JD.com last July, and expect approval for this transaction in the second half of this year. With JD.com as a strong partner, we will be able to accelerate on our strategy. Today, let me present the next chapter of our strategy for the next three years. Before looking in the future, let's take a moment to look back. I already said it. We are extremely proud of what we have achieved over the last years. On our 2023 Capital Markets Day, we introduced our Experience Electronics strategy. Over the past three years, we have executed it, and we have been successful. First, we have taken our consumer electronics to the next level. Classic retail has become Experience Electronics along four dimensions: Employee, Shopping, Usage, and Impact Experience. Second, we have strengthened our strong customer relationships. We are building lasting long-term connections rather than simple shopping interactions. Third, we are seamlessly linking our business areas. This makes us an omnichannel service platform. We combine multiple business areas under one roof. All this has made us more than a retailer. Looking back, some of you have may doubted our ability to deliver. Can we shift our business and become omnichannel service platform? Can we increase our profitability? Can we grow in a challenging environment? We can. We have delivered year after year. Our financial performance is strong. We are on track to achieve our headline ambition of EUR 500 million in adjusted EBIT and to strengthen our cash generation as reflected by a free cash flow, EUR 337 million in fiscal year 2024- 2025. We are delivering on the operational targets that we have set ourselves. What you see here are our nine key pledges. They help us measure the implementation of our strategy. The picture is clear. We are on track, and we will even exceed five of our targets. We have achieved 80 million loyalty members. We have improved our net working capital by reducing our stock reach by 16%. We have increased our income share of service and solutions to 6%. Our marketplace has a GMV of EUR 800 million. Finally, we have grown our retail media income to EUR 150 million, more than three times our initial target number. This trajectory clearly shows that we are moving into the right direction. Why do I believe that we are ready for the next chapter? Because our foundations are stronger than ever. Our employees are proud to work for MediaMarktSaturn. Our People Net Promoter Score (pNPS), with which we measure our employee satisfaction, is at an all-time high of 44. We have embedded a customer-first mindset into our organization. It's truly become part of our DNA, and our NPS shows this. Our NPS Increased by 10 points to 63 over the last three years. We have successfully repositioned our brands around the theme of experience. Our brand value of MediaMarktSaturn has grown to EUR 2.1 billion, increasing by EUR 1 billion over the last three years. This is the foundation we can build on. We have come a long way. We will accelerate even more. We are taking our strategy to the next stage. What we are presenting today is deliberately an evolution, not a reinvention. Our strategy has consistently been delivered. Our Experience Electronics strategy is working and paying off. We want to continue this path, always with the customer in mind. This core belief remains the foundation of everything we present today. What has evolved is how we engage customers across the different touchpoints. We will use both existing channels and new opportunities. An important lever will be agentic commerce. It will change how customers discover, decide, and shop. AI is powerful. We have sometimes equally meaningful, unique personal customer experience. Combining the two, AI-driven intelligence with genuine human interaction, is where a true competitive edge is built. We create Experience Electronics that matters. Those experience-earned moments of trust. Let me explain. We are living in a paradox. AI is delivering more transparency than ever before, more options, more information. Yet we feel lost. Think about it. You walk into a store, open an app, browse a marketplace. Infinite choice stares back at you. Algorithms flood you with recommendations. Prices flash. Reviews contradict each other. New sellers appear. Your data is being tracked, analyzed, personalized, and sometimes in ways are really explained to you. You ask yourself, "Who can I rely on?" That is what millions of our customers ask us every day in real conversations. They don't just want more options. They want somehow and somebody that they can trust. Trust is the lever that builds a real relationship. Trust is the essential value driver and one that competitors cannot simply copy. We have 50,000 colleagues who build trust through genuine human interaction. Over a thousand stores, a brand portfolio that is among the most trusted in consumer electronics across our markets. In a world of infinite choice and algorithm-driven decisions, trust isn't a nice-to-have. It's the competitive advantage. Trust is built through four experiences, and we are mastering that for the last three years: Employee Experience, Shopping Experience, Usage Experience, and Impact Experience. With each of them, we build moments of trust. We have the best people. They create authentic, personal interactions that cannot be replicated. No online competitor can replicate what 50,000 trained colleagues can deliver across 1,000 stores daily. We offer our customers the right selection, and we guide them through increasingly complex markets to the products that best meet their interest. We support our customers throughout a full product lifecycle, whenever and wherever they need us, from finding and buying a product to installing, repairing, upgrading, and recycling it. We take responsibility for the ecosystem that we operate in, always driven by the highest standards. We hold our partners to the same standards we hold ourselves on product quality, data ethics, and customer service. So how do we do this in this environment? When customers ask, "Who can I trust?" We answer with moments of trust. Not just once, but in every interaction, every touchpoint. That's our strategy. It's built across four experiences working together. Here is the competitive edge. Against online-first retailers, our advantage is physical presence at scale, 1,000 stores with personnel advice, hands-on product experience, and direct personal service in one place. Against established competitors, our lever is personalization at scale, AI-powered customer journeys delivered through colleagues who know their customers. This is human trust that drives real loyalty. Our partnership with JD.com will accelerate our logistics and tech capabilities. As a leading global supply chain-based technology and service provider, JD.com has cutting-edge retail infrastructure that enables customers to buy whatever they want, whenever, and wherever they want it. We link omnichannel depth with human experience. That's what our competitors cannot match. We have a clear answer to the questions that shape retail right now. Moments of trust delivered at scale across all channels and the driver of our competitive advantage. The data is unambiguous. Customers who trust us are worth significantly more. Trust is what sets apart the customer experience at MediaMarktSaturn. The data also shows this. Customers who trust us visit more often. They buy more products, engage more with our services, and report higher satisfaction. The result is measurably higher customer lifetime value, and at a business model that compounds as trust deepens. Moments of trust aren't just the right thing to do and create, they are the most valuable things we can create. We turn customer experience into moments of trust and trust into growth. Let me give you a concrete example. A customer walks into one of our lighthouse stores, like the one we are in right now. In a single visit, they experience the full power of what we have built: omnichannel core, service and solutions, private label, our boutiques as part of Retail-as-a-Service, and retail media. What we call our growth business have matured from early stage to proven contributors. I'm sure that will be great, and we will grow even more. They enhance our omnichannel core with even more relevance for our customers. One seamless experience, multiple value streams, multiple moments of trust. We have already heard me referring to the nine key pledges. They show our commitment to keeping you regularly informed on the progress of our strategic implementation. What you see here is the updated set. Some pledges carry over, others reflect the evaluation of our strategy. We are anchoring our moments of trust ambition in two critical KPIs, NPS and repurchase rate. Why these two? On the one hand, NPS measures satisfaction. We have added 10 NPS points over the past three years, and now the target NPS of 66 by fiscal year 2028-2029. On the other hand, repurchase rate measures stickiness, true loyalty, and we will increase the repurchase rate from 46% today to 54% in the same timeframe. Moments of trust create long-lasting customer relationships, and these relationships translate into concrete business outcomes. EUR 1.6 billion in gross profit from service and solutions, nearly EUR 2 billion in marketplace GMV, a private label share of 7%-8%, EUR 90 million in gross profit from Retail-as-a-Service, and EUR 230 million in retail media by fiscal year 2028-2029. This growth, achieved by a moderate top-line expansion, will drive our profitability. Over the last three years, we have more than doubled our adjusted EBIT. Now, we set ourselves an ambitious target, EUR 800 million adjusted EBIT for fiscal year 2028-2029, driven by further profitability gains in our growth areas, as well as expected synergies from our partnership with JD.com. At that level, we are moving firmly into best-in-class territory on margin. Let me be clear about this. With 50,000 exceptional colleagues giving it their all, building moments of trust day after day, the topic's exactly where we belong. The mix shift in our gross profit tells the clearest story of our transformation. Today, in fiscal year 2024-2025, around 60% of our gross profit comes from our retail core. 40% comes from our growth areas: service and solutions, marketplace, private label, Retail-as-a-Service, and retail media. By fiscal year 2028-2029, we want to see a different picture here. More than half of our gross profit, 51%, will come from our growth areas. Retail core will remain at 49%. This isn't just a shift in numbers. It's proof that our omnichannel service platform is working. We are building a more resilient, more diversified business model. All business areas will significantly contribute to our gross profit, which is precisely the resilience the model is designed to deliver. Our growth areas are a key driver of our business, but t here's more. The use of AI opens new opportunities for us. Our AI roadmap is built around three transformational bets to improve the customer journey end-to-end. All three bets are being piloted or tested this year. In the future, we'll be building on these shared data foundation and AI platforms to create a connected customer experience. According to recent studies, electronic is the number one category for AI-assisted shopping. We are adapting to this changing customer behavior by increasing our visibility on external AI platforms through enhanced content. We will enable our platforms to provide AI-powered advice and inspiration directly to our customers at scale. Human-led, AI-powered conversations bring AI into a store experience in a way that strengthens, not replaces, human interaction. For customers, this means more personalized and more relevant advice. We are already testing a solution which helps our employees to better understand each customer's individual wishes and preferences, making every consultation more tailored, more informed, and ultimately, more valuable. Let me put it in a nutshell. Trust from the customer perspective is straightforward. They expect us to understand their needs and to follow through with reliability. Our customers set a clear bar. It just works every time, without exception. My honest assessment is that at this point, we are already doing many things very well. Our aim is to build on this and deliver the experience with much more consistency across touchpoints, something that our customers expect. That is our strategic priority. Achieving this consistency will require us to build processes and deliver operational excellence, but strategically, it goes further than that. However, consistency alone will not be enough to win. What will set us apart is relevance, making every interaction feel like it was designed for that individual customer and not just any customer. The right message at the right moment, personalized communication, journeys that reflect what we know about each single customer. That is the layer that turns a reliable experience into a memorable one, and a satisfied customer into a loyal one. Let me explain how this translates into numbers. The acceleration across all our business areas will drive our increase in profitability. By fiscal year 2028-2029, our adjusted EBIT will reach EUR 800 million, up from EUR 500 million today. That is a 60% increase. Our net sales will grow to approximately EUR 24 billion, a 4% increase over FY 2025-2026. Our ambition is not only driven by operational performance. Cash investment will increase approximately EUR 350 million per year, reflecting our strategic ambition going forward. These high investment levels will allow us to capture new opportunities and capabilities, particularly in technology and logistics. The exact breakdown of these investments will be further redefined as our overall strategic roadmap is refined and execution progresses. For free cash flow, we see significant improvements to more than EUR 300 million. This will be primarily driven by our EBIT expansion. We will generate stronger profitability through our margin improvement and disciplined cost management. This will directly translate into better cash generation, sustainably underpinned by EBITDA growth rather than working capital optimization. Now, how will we achieve this. We have identified three key levers that drive this transformation. First, gross profit improvement by focusing on the high-growth areas. Second, strict cost discipline. We will keep our OpEx ratio stable, even as sales grow. Third, sales growth slightly above the market. We won't chase aggressive expansion. We will grow steadily and profitably, which will give us margin discipline and operational leverage. These three levers working together are what will get us to the EUR 800 million in adjusted EBIT and a free cash flow of more than EUR 300 million. Let us now look at our partnership with JD.com. What you have seen today is the story of a company choosing its future with its eyes wide open. We have a strong strategy, and we have a strong financial foundation. We are choosing to work with a strong partner because we can, not because we must. JD.com is a partner with global scale, digital infrastructure, and a long-term investment horizon. We are a European company, and our partnership reflects this. There are rigorous governance, worker representation, regulatory discipline, and cultural respect built into every single layer. We expect to have all these regulatory approvals that we need in the second half of 2026. A delisting is then planned for the beginning of 2027. I understand that you will have detailed questions in this context. But before closing, we are subject to legal restrictions that prevent full disclosure. We are convinced the best partnerships aren't built on what each side needs. They are built on common understanding. On that front, JD.com and MediaMarktSaturn are speaking the same language with keywords such as customer centricity, omnichannel conviction, and a long-term investment horizon. Both companies are convinced that the physical store isn't a relic. The store network is a strategic asset. JD.com has a store network with more than 10,000 outlets. Both JD.com and MediaMarktSaturn have made sustainable, sustained material investment in the omnichannel model. Through this partnership, MediaMarktSaturn will gain access to JD.com's industry-leading technology, its omnichannel retail architecture, and its logistics infrastructure. For us, this is a leap towards years of technology development compressed into the partnership. This is acceleration. Let me be ambitious on this point. MediaMarktSaturn will maintain its own strictly independent IT system and technology stack. We aren't being integrated into JD.com's infrastructure. Furthermore, JD.com has committed to building a separate, fully independent European tech stack. Our data, our systems, and our customer architecture remains independent. Both companies have a track record of building deep, durable relationships with suppliers and partners. We build partnerships on mutual investment and long-term commitments. What we are building with JD.com is exactly what we are building with our customer relationships based on trust, transparency, and shared ambition. Let me summarize the last 30 minutes. There are five points I want you to take home today. First, we are solving a paradox. Infinite choice, infinite options. That is what our customers navigate. They choose to shop with us because they trust us. Second, we invest in creating moments of trust across our four experiences. Simultaneously, and they work as one integrated system, empowered employees will give trusted advice, a shopping experience where relevance replaces volume, a usage experience that extends far beyond checkout, and an impact experience that holds our ecosystem to the standards we hold ourselves. Every moment of customer experience creates a moment of trust. Third, we build trust through resilience. By fiscal year 2028-2029, over 50% of our gross profit will come from our growth businesses, more than doubling their share over six years. Fourth, our focus on trust pays off financially. EUR 800 million in adjusted EBIT in three years. That's not an aspiration. It's a financial translation of our strategy. Fifth, we are ready for our partnership with JD.com. We have done the preparations strategically, operationally, culturally, and legally. From day one of our partnership, we can move. What we have shown today is a strategy that delivers and a platform positioned to deliver even more. We have successfully translated our strategy into economic success, and I trust that, having seen our plan, there are fewer skeptical faces in the room than we had three years ago. We will now track delivery against our updated key pledges. This is the same accountability framework that held us to our commitments over the last three years. Now, Fabienne, please join me on stage, and we look forward to answering all your questions.