Thanks, everybody, for joining this call. From past experience, we know that a lot of you have also joined the previous call that we have, the earnings call. As in past earnings calls, we will keep this a little brief by way of presentation and open up more time for Q&A. With that, maybe we just go straight into Quarter One and the results of Quarter One. We have revenue of EUR 247 million and Adjusted EBITDA of EUR 30.2 million, which is an Adjusted EBITDA margin of 12.2%. As I said on the earnings call, the performance is, in fact, a little better than it looks for a couple of reasons. One, we have a few million of deferred revenue from this quarter. What we call deferred revenue is when we have done the work, but the contracting is not completed, maybe because the client is in a hurry to move forward with the work, but we are not ready to invoice it and not ready to book revenue yet. This is not unusual in our business, but our deferred revenue has gone from about EUR 2 million at year-end on December 31, 2024, all the way up to EUR 5.5 million at the end of Q1. The delta is an amount that if we actually had recognized that, that would bolster both the top line and drop directly to the bottom line. We also have significant negative currency effects on Adjusted EBITDA in Q1. The change in exchange rates, especially the EUR/USD exchange rates, leads to a EUR 5 million negative impact on the Adjusted EBITDA, as we define it. Roughly EUR 4 million of that is due to reevaluation of intercompany loans, and roughly EUR 1 million of that is from reevaluation of the money that we hold in banks. Taken together, Q1 was stronger than the numbers would suggest. Based on the demand evolution that we have seen so far and also the trajectory of our costs, we do not make any changes to our guidance for 2025, and it stays in place. We are also seeing more activity in the markets. We believe that with GenAI, there was a time of paralysis when people were afraid to work on the new technology. It was not clear where this technology was going to impact IT spending. I think we are past that stage, and it is now a more mature technology. The action in IT services around data and cloud and AI and this interconnected threesome has really begun. We also believe that a lot of industries have some companies that are leading the way in the use of data and AI. When you have these success stories, once you have these success stories, I think that the adoption across these industries and the sudden race to invest will come. It's a bit like, I think, with post-COVID when everyone had this aha moment and everyone was like, "We need to get more digital." I think you will see this point when you have the first few successful stories that everyone will want to get much more AI-intensive. Coming back to Q1, our best-performing industry was management consulting and business information, while horizontal tech continued to be under pressure. We have been diversifying away from horizontal tech over the last many years, so that's a positive. Although we do see some signs of life again in this sector. In Q1, we had North America fairly steady, partly because of its exposure to horizontal tech, while Central Europe grew 8%. Our NPS for Quarter One was very high at 69, but I would caution you to read the footnote below. We have always excluded some very small projects from the surveys that we send out because it's very tedious to go and follow up with very small projects about replying to these surveys. People also don't necessarily appreciate it to be constantly reminded to send these answers in. If the projects are of a very small size, we have adjusted this threshold of size a little bit upwards because we were really struggling to get back our responses for very tiny projects. You can read more about that in the Q1 report. There is more detail around that. Moving to the next slide, which shows the breakup of our industries, you can see that we continue to remain very diversified. This diversification across industries and clients means that we are not at risk from one industry slowing down or one client really dropping off. You can see that our top five clients account for still just about 15% of our revenue, and we have maintained this degree of diversification. This industry diversification is also of great value to us as we work with our clients. For example, we were able to work with Siemens to get Siemens products and services into an automotive company in Saudi Arabia called Seer Motors. Seer Motors, you can see the case study on the website. Seer Motors is the pride of Saudi Arabia automotive, trying to build a new electric vehicle platform based on the BMW platform. It is a very interesting case study. We were able to do this because we were able to bring many different capabilities. We can bring capabilities like SAP. We can bring capability like automotive capability. We can bring capability like PLM or manufacturing, which is product lifecycle management or manufacturing execution systems. This ability, which sort of comes from the various things we do, acquisitions we have done, like mergers or acquisitions we have done, like Embiss in Turkey brings a strong SAP for automotive capability. We have ATCS in the past with strong automotive with some of the German companies. We have Infocore with strong PLM and MES capability. Stringing all this together to deliver value to a client and then to be able to add on a partner, a client and a partner like Siemens, and to bring it together, I think that's the kind of diversification we're talking about. It's not passive diversification, but rather very active, offensive, aggressive diversification. This work with Siemens to get into Seer meant that we were the only partner really put forward by Siemens in the Transform MENA event in Dubai. It was fantastic to be there. Also at the Hanover Messe, we were given a kiosk in the Siemens booth. This is the kind of partnering and joint selling with our customers that we are trying to graduate to as the company gets more mature and is really able to help our clients to also grow their revenue and their business around the world. When I said around the world, this is around the world. We are very much around the world, as you know, and sometimes we get some flack for it. The reason we were able to bring Siemens into Seer Motors was because we were already in Saudi Arabia. We were already in Saudi Arabia because we did this very small acquisition compared to the size we are at, which was Farabi, and we got some great people along with that. With that, we have been able to really grow our business in the Middle East, based mainly out of Dubai, but now moving to other cities in the region, including in Saudi Arabia. This diversification, regional diversification, in the last slide, we talked of industry and client diversification. This regional diversification is also very important for our clients because they are large multinationals. We are showing up with them in different countries around the world and following them around the globe and supporting them around the globe and also helping them adapt to different contexts. This diversification also diversifies our risk from national-level economic trends or currency movements. It is a bit of a natural hedge. That is the story of our diversification by region. You'll see the full slide deck on our website with a few more slides, but I want to leave time for questions on this call. You will know that we are doing a lot by way of capital allocation initiatives to add more value to our shareholders. We have share buybacks that we are doing. We have bought back 556,000 shares by May 9th. We have a dividend policy now. We have proposed a dividend of EUR 1 a share to the AGM. We will propose it to the coming AGM. We also have our inorganic growth as part of our capital allocation strategy. We are primarily focused on board-on acquisitions, but also open to doing the occasional more strategic acquisition. Moving on from there, I'd like to talk a little bit about the initiatives that we have for growth because ultimately, we are a little bit, I would say, eager to break out of this industry-level growth. For that, we need to not just stay with our current clients, but find some new channels of growth. We think partnerships are a big part of it. You would have heard in the last few months, if you're following our press notes or press releases, that we have struck up a couple of these partnerships that we are quite excited about, and there are others that we want to strike up and deepen and broaden. The first is about Japan Inc Japan Inc is extremely exciting right now. The economy is a very big economy, one of the biggest purchasers of IT services, but it has a lot of digital debt. Digital transformation has not really been rolled out across Japan like it has across other companies. There is this opportunity. We also have this pivot from Japan towards the West and to India, for example, for geopolitical reasons. You have a country that really wants to ride this data and AI wave. It feels it missed the digital transformation wave a bit. There is a new excitement in the capital markets. Berkshire Hathaway and Warren Buffett are investing in some of the large trading houses. The economy is changing and growing. It is a very interesting context. We have some history of working with a different language other than English in the German context, for example, where we started working 10, 15, 20 years ago as my part of Nagarro. We are very excited about Japan. We have excellent leadership from Nagarro, which is focused on Japan. We have a new global business unit focused on Japan, a new center of excellence to help our other business units work with Japan. Japan is a very big area. We have announced one partnership some months ago. We will have much more coming, and we are very excited about this being one of the drivers of our growth, not necessarily this year, but next year for sure. I mean, a little bit this year, but much more next year. The second topic is Edge AI and Edge Computing. We think that in the future, there will be a lot more synergy between hardware and software. Today, we make mostly software projects, but there are companies like Advantech, which are leaders in mostly hardware delivery. We are now working with Advantech, and I'm in Taiwan next week for Computex Taipei to announce some of the work that we are planning to do together. We have this opportunity to really lead in the various parts around the hardware to build not just the edge AI kind of solutions that can power this over the hardware because the expectation is that edge computing and edge AI will grow at significant double digits for the next few years. That's a big part of what we are trying to do, but also to take to our clients more integrated solutions, to take to Advantech's clients integrated solutions, hardware-software solutions. This is the second big area where we want to invest in and to create a separate layer of inorganic growth. The third, but not the least, is the German Mittelstand, which is the mid-market. We always thought that we would really be able to ride this Mittelstand, and we do really excel here in the SAP business unit, but somehow we have not been able to do that much on the digital engineering side. Now, with the benefit of a couple of years of not being able to do much, we realized what the problem was, which was that each global business unit had so many opportunities in the U.S., in the Middle East, in Asia, that they were not necessarily investing enough in German-located capabilities. The Mittelstand, more than the large companies, more than the Lufthansas, more than the big car companies, needs that German language connect. We have created this business unit focused on providing that interface to the other business units. It is called the Hidden Champions, which is the Mittelstand business unit. We believe that in this segment, as well as the largest German services companies, IT services companies, one of the largest listed companies in Germany, we have the right to win. This is the third layer of growth that we want to layer over the general growth trajectory of the subsector that we operate in. That is one whole part of the story. The other part is we also have 186 clients where we do more than EUR 1 million. How do we up the game there? The big meta trend or the meta story is that we have worked with a lot of decentralization of business units. We believe that we are at an interesting time right now. One, because of AI, there is a need to coordinate a bit more across business units. The technologies are changing very rapidly. We are seeing the need to build some IP, and we do not want to build it in 20 different places. We want to build it in a way that is at least more coordinated. For that, we have a lead CTO designated, who is our AI leader, to sort of coordinate the spend on AI platforms. We are also trying to up the move up, we call it the strategy up across together. The up is the together part is, for example, on the IP spend. The up part is to move up into the boardrooms to actually have more CXO connects. We have many new people that have joined us that we are very excited about to drive this. We are also creating topics that are cross-BU and more centralized, like supply chain to add on to supply chain consulting to add on to what we are already doing by different BUs separately. There is a whole lot of push to try to get the quality and quantity of our engagements with our existing clients up. Part of this is driven by the fact that we feel the organization and the uniqueness of the experience that we are trying to drive, that is more or less established. If you look at the NPS that I just talked about, Net Promoter Score of 69, that means that our clients are largely happy with us, or delighted with us, rather. What we have to do is to put more clients, which is the first part, top part of the slide, and then to do more with existing clients, which is the bottom part of the slide. We feel that the org is quite mature and some of the central coordination is now possible without damaging the uniqueness of the organization. Also in line with these initiatives, with the same context, we are in line to hire this year our first custodian of finance in the organization, our CFO. We feel, again, as I said, that the org is now mature enough to be able to be optimized a bit in this way. Coming now to one more aspect of our maturing as a company, we have an excellent supervisory board today with people who have put in a lot of effort and a lot of time and blood, sweat, and tears to help steer the company or to help us steer the company or to play the role of governance and oversight, going through with this new auditor, for example, and just a lot of work. We also have now some very exciting changes to this or additions to this supervisory board. As you know, George, who was chair of the Supervisory Board, had stepped down from the chair position for personal reasons. He's happy to return to the board, but doesn't want to return as chair. We will be proposing him to the AGM. I mean, the Supervisory Board and Executive Board, strictly speaking, will be proposing him at the AGM as a member of the board. We also have three very exciting new colleagues who I'm looking forward to working with. We have Martin Enderle, who was till recently and for many years the chair of the Supervisory Board of Delivery Hero and has earlier been the CEO of Scout24. We have Hans-Paul Bürckner, who has been the global CEO of BCG and the global chairman of BCG and chairman emeritus of BCG. A very credentialed person as far as professional services are concerned. We have, as far as consulting and strategy are concerned. We have Jack Clemens, who has been global CEO at Barry Callebaut and has been global CFO at Barry Callebaut before that. He has been on many other boards, including—and I like this very much—the chair of the Risk and Audit Committee of the WWF, the Worldwide Fund for Nature. We have a lot of capability that this board is bringing. I think that investors can just feel a lot more comfort that there is a strong supervisory board to coordinate the running of the company in the future. For us, on the management board, it's also a lot of fun to look forward to having more diverse perspectives and diverse experiences to inform our decision-making going forward. Hans-Paul Bürckner, for example, has been part of the enormous growth of BCG over the last years. I think that's the kind of growth that we want to mimic at Nagarro. That's all we have in terms of the slides that we are presenting for this retail investors call. Maybe we can go from here to the Q&A. Okay. Thank you, Manas. Again, if you've joined the call via Zoom and you'd like to ask a question, please use the raise hand button on your Zoom toolbar. For written questions, please use the Q&A button also found on your Zoom toolbar. If you're dialing in over the phone today, please dial star followed by one on your telephone keypad to enter the queue for questions. We'll pause for just a moment while we assemble our roster of questions. Our first question comes from Arturo. The question is, "Hi Manas. I appreciate that the company is taking the right initiatives to enhance the value of the company. What is the company's view on a shift that is being talked about in the industry to move to a platform business and less services business with no need to increase headcount in proportion to revenues? Will Nagarro start developing more IPs to sell to customers such as Ginger, Inspector, or Yeti? Thanks, Arturo. I think that this is a complex question. I think that what's actually happening is that existing large products are also being challenged because the same functionality can be built more custom, more tailored. That is one trend that is possible that we will see. The idea of building platforms over which you are customizing or over which you are building out more specific client-specific functionality, I think that is obviously there. As a company, we are doing a bunch of that. As I said earlier, we want to make it a lot more coordinated across business units. It will definitely be more of an area of growth. We stay flexible and not ideological about this. We would like to do what makes sense for our clients at that point in time. Yeah, we will keep reevaluating it. I believe that this will change dramatically from year to year because this is a very fast-changing environment right now. Yes, absolutely, we stay open to that. It is not a major—it is not something that you will start to see affect our core dynamics from next quarter or something like that. It is something that we are definitely reorganizing to take full advantage of. Great. Thank you, Manas. Our next question comes from Luis. The question is, "Could you please dive deeper into the Saudi Arabia market? It's a fast-growing country with many investments in digitization. Could you please elaborate on Nagarro's market strategy in terms of increasing brand awareness and being considered in different RFPs in the region that might be usually targeted by big brands like Oracle or Accenture?" Thanks. Yes. I think that in general, that brand awareness of Nagarro is something that we keep working on. There is a long way to go. Especially in a new market, which is more brand-conscious, perhaps, it's more likely that the first vendors that come to mind would be some of the better-known companies. That said, what we are trying to do, for example, with Siemens in the market and what we are able to do with some of the clients that I mentioned, some of the case studies I mentioned, is very interesting. I think that we are not that far away from a time when we will have our own networks of people who would have seen that they would get better outcomes with Nagarro, just like we have done in different parts of the world. It is a very interesting market. It is, let me say, a market that is in the process of becoming mature. There is a lot of fast movement, but also a lot of zigzagging. I think that it is a great opportunity. In fact, in general, what is happening in that country more broadly is also very exciting. Just for the planet, I would say, it's very exciting. Thank you, Manas. We have a follow-up question from Arturo. The question is, "Do you have any kind of strategy in Germany in order to benefit from the increase in public spending planned under the new government? Is this linked to the increasing growth that is the German Mittelstand that you are aiming for?" Arturo, possibly, yes. I will admit that we have, as of now, only a limited direct exposure to the public expenditure in Germany. It's something that we have tried to remedy with M&A, but not been able to get the right company to team up with. It's something that, yeah, it's on our mind. I hope that the Mittelstand becomes a proxy for this public spending. Even outside that, I think the German Mittelstand is really one of the forces of economic forces on the planet. The kind of work that they do is really incredible. I think we would love to bring our capabilities to supplement that, to help them grow their businesses. I think it is sort of linked to public spending, but not totally dependent on public spending. Nor is it a substitute for having a direct public sector revenue in Germany. Thanks, Arturo. Thank you. Thank you, Manas. The next question comes from Alejandro. The question is, "Regarding the recent margin decline, could you elaborate on contributing factors? Was increased price competition a significant driver?" Hi, Alejandro. As I mentioned in the Q1 description, it is coming from a couple of things. It's not really as big a decline as it seems at first sight because of the negative currency effects of about $5 million from just the reevaluation of intercompany loans and bank deposits in dollars, for example. There is an impact of the increase in deferred revenue in this quarter, which, again, would drop a few million to the bottom line. It's not really that significant. I think the pricing context is competitive, but it's not the reason for the margin decline. Great. Maybe just to follow on is, how competitive is the market currently, and what is the major risk that you envision to sustaining your margins? The market remains competitive. I think that that's kind of like it's always been competitive, and it remains that way. I think the margins are not at risk, in my view, from the competitiveness of the market. I think what we typically see as pretty standard in this industry, it varies from quarter to quarter. In the general context, what you have is that the wage inflation, the currency exchange rates, and the rates that clients are willing to pay, they kind of move in tandem, and they all tend to balance out each other, especially with regards to some of the bigger currency pairs that are used in global services like dollar to Indian rupee, for example. It's kind of like self-maintaining. I don't think that's a big threat for margins at the moment. Great. One last question from Alejandro concerns the automotive sector, a key area for Nagarro. How will tariffs affect it? I think we are at a point where we're not very sure how tariffs will affect anything, and we're not sure what the tariffs will be. I think there is a lot of uncertainty here. I think that we are hopeful that things will stabilize, and we will have a way forward that everybody in the economy is looking for. You can see that there is already a lot of balancing and stabilization and walking back some of the more extreme ideas. We are very positive. I think the U.S. economy, in particular, has a tendency to bounce back. The U.S., in general, is a very much market-driven country where things cannot be out of whack for too long. We are hopeful that things will stabilize, which will obviously flow through to the automotive sector. Again, no one really knows at this point. Great. Thank you, Manas. There are no additional questions at this time. Great. Thank you all for joining, and thanks for your support. Look forward to meeting you on the next earnings call or in other forums. Thank you very much. Thanks, everyone. Great. Thank you, everyone. This concludes Nagarro SE's retail investors call. Thank you all for joining in, and you may now disconnect your lines.