Ladies and gentlemen, please note that this conference call will be recorded. I will now hand over to CEO Alexander Reindler and CFO Marco Keul for presentation. Mr. Reindler, please go ahead. Yes. Thank you very much, Mr. Huber. Ladies and gentlemen, a big welcome to all of you to our investor call for the first nine months of the year 2026. As usual, we are going through three chapters in our presentation, Marco Keul and myself. I give you an introduction of the status of the business on the environment as well. Then we get the financial update from Marco Keul, and I will finish with the status on our strategy implementation. Afterwards, obviously, as mentioned, we have the Q&A and the opportunity for you to ask questions. Let me start with one topic which was important in the last weeks, which we wanted to highlight here again. As you might have seen, the supervisory board has decided to reduce the management board of Leifheit from three to two members. It is now the two of us. The COO, Igor Iraeta, leaves by mutual agreement by end of the year. He has left the company already, so laid down his mandate. Marco Keul is taking responsibility for the operations functions in the business, and therefore the responsibility on this in the management board. Generally, we believe that two board members for a company like Leifheit, if we may say that, is much more efficient and is also in line with our strategic targets in the FOCUS project. Coming now to the overview. We have seen, there is obviously a lot of initiatives which we are implementing as we speak, but overall, it remains, as we have highlighted previously, it remains a very challenging market environment. As a result, you see turnover now at -5.5% for the first nine months. We come afterwards to a brief look at the third quarter as well. It was -5%. Still, we are investing into the brand growth and obviously into many initiatives, especially the relaunch of the brand, and therefore to actualize, to update, and to rejuvenate and make the Leifheit brand even more attractive for shoppers and consumers. You see the gross margin up 1.8 percentage points, so 180 basis points. I think definitely continuously one of the highlights. You see the strategy really works in terms of efficiencies, in terms of mix elements, which all pay into the gross margin. I think very strong development. You see here since 2022, we have an improvement of 6.8 percentage points in gross margin. I think a very good result. EBIT, on the other hand, not so good, let us say, -EUR 2.9 million. Of course, the special one-off effects have an overall EUR 1.9 million already in the first nine months. Operationally, the EBIT is at minus EUR 1 million. These investments, of course, we do to strengthen our competitiveness and resilience. Now to the consumer, to the market side. A lot of you will obviously see that there are some positive signs now, speaking particular about our main market, Germany, when it comes to GDP developments or slight growth now this year, most likely also next year, and a better outlook from a lot of businesses. Although, if we look at consumer sentiment and consumer climate, it is still not improving. Also last month, the GfK numbers, which you see here on the right, were again slightly down versus previous month, the month of October. That was the November data. Still, there is a quite weak consumer sentiment overall, and we also see that reflected in our markets, and we keep on reiterating this because that's the environment we work in. The market is now for the first nine months, we just got this last week, in Germany, that is only German market, of course, reflecting a market decline of minus 7%. A quite significant market decline, which is reflecting this consumer sentiment, but also the fact that people postpone purchases in a situation where food is prioritized, and with food inflation, this is getting more and more important for consumers. Here, as usual, you see the details by segment and by geography. The group minus 5.5% in the third quarter. You see this on the next chart, but to take that away, we had a minus 5%, so in a very similar way as the first six months. We see that developing across the two household and well-being segments, which is almost in line with the minus 7% we have just heard for the market. Private label is very positive, developing positive by 4.2%, highly related to actually a market in France, which is quite good in a challenging situation, especially for the overall private label segment. We see growth especially coming from Herby, related to one big promotion. I was mentioning that in the six-month call as well. But overall, also with Birambeau, a very good development of plus 4.2%. If we look at the geographies, we see Germany at minus 6.5%, so slightly below the group. This is driven especially by big customers, discounters, Aldi, Lidl, and Kaufland, these three customers. Other customers, we have also very positive developments in Germany. I take the DIY segment, which is also positive and shows growth. Customers like OBI as one example. Central Europe has not changed significantly versus the first half. They are quite mixed back. We have some markets which develop positive or on previous year level. I give you the examples of Belgium, Netherlands, and Switzerland. On the other hand, we have a couple of markets obviously who are negative. To mention one, Spain as an example, or Italy. I think overall we see there that where we have strong brand equity, the business for us is more resilient, and where the brand is more in the build-up phase, it is more challenging. In Eastern Europe, we see the decline across most markets. We have, of course, markets who are doing slightly better or almost on previous year levels, like Poland, for instance. On the other hand, Czech, more negative than the overall minus 5.8%. Our rest of the world, that's the distributor business, a very small business, therefore, you have to take the percentage with a pinch of salt. They are negative for us, especially Denmark and China, but some other markets as well with positive dynamics, South Africa, Middle East, as examples. That is the quarter-by-quarter development, and here you see obviously that the, yeah, I said it, I think the market conditions overall are even deteriorating slightly. The market development in the second and the third quarter are weaker than the first quarter, and this, to a certain extent, is also reflected in our net sales, so the quarter three minus 5%. And obviously, therefore, in line more or less with the first nine months. What we reiterate is that our core business is generally a very reliable, strong business, which is the focus of the strategy as well, mechanical cleaning and laundry drying. You see that by the CAGR over the last years. Of course, we now have to say that this core is at the first nine months at a minus 5.7%, so quite in line with overall company. But here, as we said, especially we have the market decline of, I said it before, roughly minus 7% in Germany and the European numbers. We have few European countries which relevant coverage is in a similar direction. We are gaining market share. This is important. I keep on reiterating this. We keep overall market share gains for the first nine months in such a declining market, and this you see maybe in the slight difference between the numbers. Obviously, always difficult to compare with the limited coverage such data has, but overall, we are gaining market share, which shows our competitiveness, and I think this is something very important to keep in mind in such a dynamic. Now the different sales channels, and there you also see that some things are really working also very well. Although the overall situation is challenging, we see the DIY channel, which is kind of our home turf as a segment, and you see is one of our biggest segments and most important ones. We grow there 5% through many of these customers. We have very good customer engagement there. That's generally a channel where we develop the brand in a very favorable way. We have lots of spaces usually, can really showcase the different products and segments of the categories. So 5% strong development. We see D2C and e-commerce overall, together with hypermarkets, our most important channel. We see there significant growth. It continued in the third quarter. We had for a half year a very similar number, 33%, so here also strong growth, which, and this I keep on saying, which partly comes from a shift from Amazon vendor to the 1P model to the D2C, the 3P model. This is also one important effect which we have to keep in mind, but also the marketplace development is working very well. On hypermarkets, we see a minus 6%, more in line with the total business. That's our biggest segment. One channel which is challenging is discounter. For the first half, you saw a minus 30, so now we are at minus 18, so we improved in the third quarter. Very important promotions are indeed in the first half, and these were less than previous year. Therefore, that is the channel which is definitely the most challenging one for us. With this said, I hand over to Marco Keul for the financial update. Yeah. Thanks, Alex. Let me briefly guide you through our financials for the third quarter before we then get to our strategy update, our outlook for the rest of the year. Turning to our P&L, we improved our gross margin in both the first half and Q3 alone, despite lower revenue compared with last year's gross margin before special items related to our strategic production optimization project. Of course, this represents an increase of nearly one percentage point. We achieved this despite higher raw materials, energy costs, and therefore higher freight costs. We expect these pressures to intensify in the fourth quarter. On a positive note, our sales price increase began to have an impact in Q3, with most of the benefit then expected in Q4. The rest, and the next slide shows the trend since 2022. Our gross margin improvement and cost savings did not fully offset the negative effects elsewhere. Higher costs were primarily driven by additional marketing investments, up by a mid-single-digit million euro amount year on year, higher outbound freight costs due to D2C growth, and higher fuel prices, and additional spendings on strategic projects such as FOCUS, of course. In addition, the 2025 result included EUR 1 million one-off in other operating income from a patent infringement. Overall, the EBIT for the first nine months for 2026 was minus EUR 2.7 million, minus EUR 2.9 million with a break-even result in Q3 and Q2. This suggests that excluding the one-off costs of our performance program and the last year's one-off income from that patent infringement, our EBIT would also be break-even for the first nine months. Gross margin, we continue to deliver strong margin improvements in the first nine months, including Q3 standalone. Maintaining this momentum will become more challenging in Q4. Our guidance continues to assume that the war in Middle East will weigh on our business through December 2026. Countermeasures, including the sales price increase I mentioned earlier, are already in place, and this gives us a good chance of sustaining our margin improvement. Our efforts in recent years to strengthen our production capabilities and expand capacity of our own manufacturing are now paying off, of course, and this makes us more resilient to macroeconomic crisis and gives us a clear advantage in the current environment. If you look at the comparison with 2022, Alex mentioned that before, and it's progress, our gross margin has improved by 6.8 percentage points despite the things that are going on currently. Regarding free cash flow, we are at minus EUR 3.8 million after Q3, which is minus EUR 7.1 million compared to the previous year. Let's have a look at the next chart. This chart shows the key drivers of our cash flow development. Since our last call, we have refined the presentation, let's put it like that, which is meaning that dividend payments are now shown separately on the left. This allows us to focus on the underlying business performance and the free cash flow then on the right. Let me walk you through the main drivers. We recorded a net loss of EUR 2.7 million for the period. The depreciation was around half a million euros higher than in previous years, reflecting our investments in production and logistics. The trade receivables increased by EUR 3.3 million. As in quarter one and quarter two, the sales in Q3 were increasing towards the end of the quarter, and that means higher trade receivables then, at least temporarily. Inventories are temporarily up by EUR 1.2 million when reflecting seasonality and the raw material safety stocks that we increased because of the crisis. During Q3, however, the inventories fell by EUR 3.1 million. We expect both receivables and inventories to decline in the coming months, reducing working capital then by year-end. The CapEx stood at EUR 3.6 million, EUR 1.3 million below last year. In the light of the current business conditions, we are carefully reviewing, of course, all planned investments to determine which should be reduced or could be deferred to next year. Importantly, the free cash flow was positive at EUR 3.5 million in quarter three, following positive free cash flow of EUR 4 million in quarter two. Taking the one-off effects of our FOCUS program and taking that into account, we expect free cash flow for the full year 2026 to be negative, but at least at minus EUR 1 million to minus EUR 2 million. Of course, the next month will remain challenging, but even so, we remain committed to creating sustainable value for our shareholders. Our dividend policy remains unchanged. We continue to believe that our shareholders should benefit from the company's strong liquidity position. At our AGM in early June, shareholders approved a dividend of EUR 1.20 per share in the proposed capital measure. This measure gives us additional financial flexibility then to support future activities. With that, thanks for your attention. Now, back to Alex for an update on strategy and on activities that you can expect in the fourth quarter. Thank you very much, Marco. Yes, ladies and gentlemen, let me now come to the strategy update. I think all of you have been in previous calls or engagements, so you know our strategy, leading with FOCUS, creating sustainable value, in essence, a focused strategy on what we can do best and where we can win. We have a question is now, what is the next phase of the strategy execution? This has not changed versus previous call. The implementation of that has changed and has advanced with high speed. The Leifheit brand relaunch is now coming into the stores, into point of sale, and more and more. We always had the start, therefore, planned mid of the year, and we are now coming to more stores and more distribution. That is important to make the brand even more attractive and having a sharper positioning, having obviously all the innovations coming along with that, very important, and I come back to some of them, and then having very targeted and marketing activities with a good or high ROI. We have the FOCUS program, and I come to that on the second chart. But you know, overall, that is really to strengthen our competitiveness in a situation, in a challenging environment. This is what we do and what is key to really make the company future-proof. Then for the focus company, as communicated in the last call for the six-month result, we always had as part of the strategy the review of the non-focus companies and subsidiaries, and there we have nothing new to be communicated, but we are in an advanced stage for one of these. Let me go more into the update on the FOCUS program. We started that in the first quarter, and we are now in full swing in implementation now already as we speak. Overall, we accelerated the program. It is now giving us at least EUR 8 million annual savings. The purpose is to really transform the company into a simpler, faster, and more customer-centric organization and company, and therefore really making us more efficient and more competitive, and obviously also reducing costs. Overall, as you can see here, it is about focus and agility. We have a new operating model, new governance, which we are implementing most of that 1st of January 2027, so absolutely in line with plans. Some we are changing already now as we speak. We have a lot of digitalization of key processes to reduce manual labor and to be more efficient, and therefore also reduce costs, and therefore allow us to have leaner structure, and obviously faster decision-making is key to be really a speedboat as a company, and therefore more competitive. In the financials impact, you have seen that, so we have EUR 8 million reoccurring annual savings from 2028 onwards, and that includes the change in the Management Board. That is regarding FOCUS. Regarding the FTEs, we wanted to update you specifically on this. What does that mean? We have already, up to now, we have already reduced 2% of our headcount. You see, overall, we plan with FOCUS up to 70 positions we want to reduce, and that is equals here that we want to be below 900 FTEs, and therefore a reduction of around about minus 7%. This will be until end of 2027 already, and then with the full effect, as mentioned, for 2028. Now to the activities, to update you where we stand there, and this is, of course, always with fast improvement. Brand relaunch, really to drive stronger sellout in store, is in full swing and implementation. Obviously, this goes step by step. It is a complex assortment, so we do not change this all at once. But what you will see is most of the point of sale material is already changed to be much more stronger benefit-focused, to create a clearer and more impactful brand presence, and therefore really drive the sellout. You see on the right side, the examples are the product detail pages, which we use in e-commerce, the PDPs, which drive conversion, proven. We expect to drive conversion there significantly, and therefore increase sellout by roughly 10%. That is the plan, and that is an important business, as you know. We are just here in an A/B testing to really make sure we have the best quality and the clearest benefit-driven communication for this tool, which is, again, very important for our e-commerce business. It will then go live in December when we have the testing results. Here, SUPERDUSTER, this keeps on being very important, clear focus for us, really for the next years. I was always mentioning and reiterate this, it is the largest single market we have. It is larger than manual floor cleaning, a big market in Europe. We estimate around about EUR 300 million at least. The market share gains, which we see in the data for the first nine months, comes a lot also from SUPERDUSTER, so we really gain shares. You see overall net sales contribution +22%. Yes, it goes slightly down because it is against the sell-in from last year. This, I think, is an obvious element, but we have already for next year also an innovation plan, so we want to keep this, refresh this, and have always news for shoppers, but also for our customers. The long-term success story keeps on being BLACK LINE. You see the nine-month moving here, +11%, and that is already a business which is a double digit in million euros. Now we launched the cleaning sets. We have introduced that last time to you, BLACK LINE cleaning sets for our winning cleaning segments, Profi and CLEAN TWIST, three products. They look excellent. They really express a high quality of these products. Their first reception, so they are coming now to market as of October, their first reception from customers is excellent, but also from shoppers, consumers. Very good products, and I think this will help us definitely to continue to build our position in that segment. Also this proves us that innovations is a very important element for us. Maybe allow me there to add, it is usually also margin accretive. Both segments, also the SUPERDUSTER, highly margin accretive, which drives our gross margin and which is one of the results why gross margin is improving so significantly, as also Marco stated. That is BLACK LINE. Then, RockSolid, and two new laundry dryers, the best we have ever done as a company, so you can assume is the best in the market. We just introduced them, so too early to show you results. They are also very specifically targeted, especially at DIY customers, so we are also in distribution here more specific to have the respective pricing and to allow us also to really target especially these shoppers who look for highest quality laundry dryer. By saying this, let me give you an outlook, and then we come afterwards to the Q&A. Outlook, first of all, important for us is, it is a challenging environment, but we have a clear strategy which remains absolutely valid and the right strategy, and we have a very clear strategic response as well in our activities. I don't have to talk about the environment anymore. I think everybody of you is aware about that. We see that in the market data. What do we do in terms of growth? Yes, we continue to drive our strategic initiatives, and they bring us growth, as you have seen, especially in our core business. We have a full innovation pipeline for next year. Internally, people are really excited seeing what all is to come, and we will share that continuously with you. And of course, we keep on rolling out the new brand identity to increase also sellouts. That for the growth, not to mention e-commerce here as well. This is, of course, keeps to be a very important segment, and you see the progress which we have on D2C. And then on the other hand, we are also continuously working on efficiency and resilience, and therefore, our extremely important FOCUS project program, which is not only a cost-cutting exercise. Yes, it is also to get operational costs down. It should make us, and it will make us better as a company, more competitive, better in collaboration, and just faster in decision-making. Therefore, that is important and obviously gives us the annual cost savings, as mentioned, EUR 8 million as of 2028. This is still our Vision 2030+ and our mid and longer term outlook. Of course, we are aware that we are not in line with what we wanted to achieve this year when it comes especially to top line, but therefore also to bottom line. But we still believe that we will come back to growth. The market will remain challenging. I think this goes without saying. We don't expect the market to show suddenly growth next year. It will be challenging, but we believe that we will be continuously competitive, gaining continuously market shares. This will bring us to a growth, and we believe mid-term, 2028 and beyond, that can be between 3% and 6%. And on the EBIT margin, and this is maybe something which is even more important, as you see our very good gross margin development, we believe that this and then the cost exercises we have been talking about, that EBIT margin can go to 5% shorter term, but then also back to high 7% and 10%. That is now the forecast which we communicated already two weeks ago, roughly, with the adjusted numbers. Mid-single digit decrease for the group turnover. You see the different business segments here, as mentioned by Marco and as explained, corridor minus EUR 5 million to minus EUR 6 million, the EBIT for this year, and free cash flow in the corridor of minus EUR 1 million to minus EUR 2 million. Overall, despite, for sure, not an easy year, that goes without saying, we believe that Leifheit is still positioned well as a profitable growth and attractive shareholder returns. We have a strong brand in various markets. We work on making this brand even more attractive. We have attractive core categories, where we want to be market leader in many markets. We have, therefore, the potential and the base to expand that, not only with that brand, but also with growth potential in European markets, and again, for innovations, it is what we are already seeing, and with new e-commerce and digital acceleration. On the other hand, we always speak about efficiency, so lean, efficient production and logistics especially, is very important to support profitability. Marco spoke about attractive capital allocation, which is in principle, obviously, fully in place and a full commitment from us. This is what we wanted to share with you today, so half an hour about the strategic update, but also the financial update, and now we are very happy to receive your questions. Thank you very much. Thank you, gentlemen, for guiding us through the slides. Let's jump now into the Q&A session. Please raise your hand for asking your questions, and then please unmute yourself. You can also send us your questions using the Q&A chat of your dashboard. The line is open for questions. Please go ahead. We start with Mr. Mühlenbrock. Please go ahead. Can you hear me? Yes, we can hear you. Perfect. Thank you for taking my question. I have only one question to the shareholder returns. Would it not make sense to reduce the dividend slightly and focus more on share buybacks, given the weak share price? Or do you plan to pursue both, given the strong cash position? Yes. Alex, maybe I take that question. I think that's a valid question which we should look at if we then decide what to do with 2026, with the negative result that we now have, and going then forward. Therefore, currently, I think we don't have a final answer to that, but we will look at that. Okay, perfect. Thank you. Yeah, and that is what Marco mentioned before as well. We have the ability to do both, of course, and that, I think, gives us the flexibility to decide. Mm-hmm. Thanks. Thanks, Mr. Mühlenbrock. Thanks for the question. Please raise your hand for asking your questions or use the Q&A chat to get in touch. Any more questions? Then please raise your hand or use the Q&A chat. Once again, any more questions? Then please raise your hand or use the Q&A chat to get in touch. Gentlemen, there do not seem to be any further questions for today. Your closing words, please. Thank you very much, Mr. Huber. Thanks to all of you for participating. We always take the fact that there are little questions as the statement of clarity of what we have been saying. Obviously, we might also have the opportunity to see one or the other in one of the conferences. First of all, thank you very much for joining today. As a summary, while market conditions we are not able to change, what we can change and what we are continuously improving is our strategic response to that. I think that's what we do. Strategy remains in place, remains in full swing of implementation, and we have the right strategic response. Strengthening the brand, innovations are helping us to obviously mitigate the decline in the market and in the net sales. E-commerce business D2C, very, very strong growth. On the other hand, we also drive efficiency and resilience. Gross margin is one testament of that, but also the FOCUS program, which now will need to transform the company and also deliver cost reductions. We are fully committed to that, and we are fully committed to shareholder value, as we stated. With this, thank you very much for joining today, and hope to see you next time or in one of the conferences. Thank you. Thank you, Mr. Reindler. We will now close the conference call. Goodbye. See you soon.