I think we have almost everyone, most of the people have connected. I suggest that we start. Just share my screen. Okay. Thank you for attending the presentation. It's about the revenue for Q3 2025. As you may have seen, the reported growth on Q3 for Cegedim was a negative of 2% reported, + 0.5% like for like. The difference between both being the deconsolidation of in-practice system at year end 2024. On a nine-month basis, you can see the growth for the group is slightly positive and reaches 2.1% like- for- like, in line with our outlook. The activities which have performed best during this quarter have been cloud, HR software activity, digitization, and insurance. We will see that we have some base effects on some other activity, especially on the marketing side, compared with Q3 last year, where we had a very positive impact from the Olympics. Other main news during this quarter that we have already mentioned during the half-year results were the workforce restructuring at the pharmacy business, the transfer of Cegedim Group shares on Euronext Growth, and also the sale of the in-practice system to One Advanced by the administrator. We have not much more news than we had in September. Remember that any impact from this latter news, if any, would be in 2026. You can see here on this slide the bridges of growth on Q3 and on a nine-month basis. You can see the structure impact in the middle of each of the bridges is actually for the Q3 fully in-practice system. On the year-to-date nine-month basis, mainly in-practice system with a slight positive impact from the integration of Visiodent on the full half, where it was integrated last year on March 1st, meaning that there are two months more this year. Then you can find the like-for-like growth of 0.5% on the quarter, 2.1% like-for- like on a nine-month basis, and a very low impact of currencies, if any. Now, you know, we would like to introduce you to the group through its business units. We started in July, in September, and we want next year to be fully in revenue in business units. I'm going to introduce by business units, and then after, we'll have also the view on division so that you can recollect everything. Our main on our five business units, the first one is health and provident insurance. On Q3, you can see that it had a revenue of EUR 40.4 million, a slight decrease of 0.7% reported, 0.6% like- for- like. You can see that on Q3, on its software activity, still experiencing growth of 7.5% in line with the previous quarters, with the same trend on projects and run from 2024 projects. Its flow operation is the third-party payer activity, in which we still experience growth related mainly to its fraud and long-term illness detection offering. It's still performing quite well. On the BPO side, we have a seasonal impact related to the execution of the Allianz contract. We'll see on the next slide that overall, there's still a growth on this BPO activity in health and provident insurance. On the Cegedim business services, the revenue on Q3 was EUR 43.4 million, a growth of 6.1% reported. Here on the software side, a growth of 8.2%. It's mainly its HR software, which is still being propelled by its client diversification strategy. The flow activity is this e-business activity, in which we have seen during this quarter a clear pickup in projects in e-invoicing in France, as we are a bit less than one year ahead of the entry into force of the regulation in France. Companies are getting prepared for that. Also, on its BPO activity, the strategy is to increase indirect sales through partners, and it has an impact. We have seen a slight decrease in the use of our business compliance offering from pharmaceutical companies during this quarter. On the data and marketing business unit, data during the business unit, its revenue is EUR 27.7 million, a decrease of 1.7% reported, 2.3% like- for- like. This decrease comes mainly from the marketing activity. As I mentioned earlier, we have a tough comparison effect on Q3. Remember last year, C-Media was able to sell some special campaigns during the Olympics in Paris. Of course, we had not this year, so we had a tough comparison effect. You'll see on the next slide that overall marketing on the nine-month revenue is still growing. It's exactly as expected. On the data side, the growth is 2.1% on this quarter, in line with the previous quarters and in line with the previous trends, meaning that France is more dynamic than the international activities. For healthcare professional, the quarter established at EUR 32.3 million. We have a big gap between a big delta between reported growth, reported slowdown, and like- for- like. This is due to the deconsolidation of in-practice system, which has this negative impact. We'll see also later that we have still the negative impact from the renegotiation of our data providing contract. Also in here, we have the French pharmaceutical business, for which during this quarter was mainly focused on repositioning teams and product offering, meaning that not generating growth. Last but not least, with cloud and support business unit, the revenue for this quarter was EUR 9.9 million. It's benefiting from two things. One is the start of projects, one in late 2024. Also we had a special trading contract in July, sort of a one-off. Those both, we'll see later on the next slide, more than offset the ending of the outsourcing contract that came to an end in Q2. Here on the nine-month basis, year- to- date, you can see that the insurance business, the health and provident insurance experience is experiencing a growth of 4.4% reported in like for like. You can see especially that on this BPO side, despite a difficult Q3, growth is still 1.1% year- to- date. The same as you can see on the Cegedim Business Services, even though BPO was a bit slowing down in Q3, still experienced a growth of 2.5% year- to- date, meaning that Cegedim Business Services overall is experiencing a growth of 7.4% since the beginning of the year, with the trends we had talked just before, keeping on on HR software and e-business. On data marketing, you can see down on the right side that marketing from the beginning of the year is experiencing a 5.8% growth, meaning that this Q3 that we were expected didn't offset all the good growth from the marketing activity, which outlook was to be able to be flat in terms of growth overall over the whole year. It is more than on track to respect this outlook. The data side, still 2.4% growth on a nine-month basis, meaning that the data and marketing is experiencing overall year- to- date 4.1% growth reported, 3.9% like- for- like. You can see the cloud and support also that this Q3 allows this business unit to have a growth year- to- date of 8.5% reported in like- for- like. On the healthcare professional, as I mentioned, the trends just before are the same. The difference between the reported growth and the like- for- like growth is due to the deconsolidation of in-practice system in December 2024. In this next slide, you can see the revenue growth bridge by business units on reported growth. You can see that the healthcare professional is suffering from this data contract renegotiation. Also, as it's reported growth, we have the impact of the deconsolidation of in-practice system. Also, Smart Rx, the French business, the French pharmacy business, is focusing on its repositioning and teams and product offerings. Now, the presentation you're more used to is by division so that you can find it. No big surprise here. You can see that in Q3, the BPO activities have been a little drag on the growth from the group, as we mentioned for the insurance BPO and also on the business services BPO. I suggest we dive into each of the divisions and especially what we haven't mentioned before. On the software and services, you can see that there's a slight difference in Cegedim Santé on the nine-month basis between reported and like-for-like growth. This is due to the integration of Visiodent on the full year nine months. Last year, we had only seven months. It's worth noting that there's a good momentum for the Maya suite of products. The negative is mainly coming from this renewed data supply renegotiation that was with lower rates. On the other activities in France, we have the two main contributors, the HR software on all client segments and also the health and provident insurance, with what I mentioned earlier, project-based sales and the start of run phases from last year. Also here, we have the pharmacy business in France with the focus now on repositioning the product offering and teams. Something we haven't seen before is the international activities. You can see the difference between reported and like-for-like. Of course, you can see it's here where lies the in-practice system impact. Yes, in-practice system impact, sorry. You can see that on like-for-like, on a year-to-date growth, we are flat, a little positive. We have seen some pickup in projects in the U.K. in both activities, pharmacy activities, and also insurance softwares. Spain is still performing very well. You can see a pickup in the international activities. On the flow division, we have already talked a bit about this. Worth noting that on the e-business side, there is a pickup in the electronic invoicing, especially in France, as we are now a bit less than one year ahead of the entry into force of the reform. The third-party payer is still experiencing good growth from a bit from project, but mostly from its fraud and long-term illness detection offering. On data and marketing, we have already quite talked about it. Just remember the negative impact on Q3 from the Olympics, but still robust growth over nine months for the marketing side. BPO, I think we have discussed a bit about that. We have the impact of phase executing on the Allianz contract. O n the business services BPO, it is both the strategy and also pharmaceutical companies using a bit less our business compliance offering. On the cloud and support, to finish with this, is the start of projects won in late 2024 and also a bit of a trade contract in July, but consider this is a one-off. These both have more than offset the ending of the outsourcing contract in Q2, meaning that we have this 8.5% growth year- to- date on the cloud and support. Overall, we stick to our outlook for the full year in the like-for-like growth between 2% and 4% in the range. On the nine months, we are still in the range with 2.1%. We expect an increase in the adjusted operating income for the full year. Remember that in the adjusted operating income, we will benefit from the deconsolidation of in-practice system this year as it was losing money. Also, you have seen on the growth that C-Media, the marketing side, even though Q3 was difficult, was able to achieve a 5.8% growth over nine months and should be able to at least meet its outlook of flat growth, maybe better. We had some questions last time about the impact of the restructuring of pharmacy business in France. They will happen in 2026, this was saying also. On this last slide, you can see our financial agenda for 2026, which is quite similar to the one we had this year also, just for you to take a good note of it. I think now we can switch to questions, if you have some, to the Q&A session. Just as we do traditionally, please raise your hand so that I can give you the floor for asking your questions. Thank you. Okay. Amadou, yes, Amadou, Okay. Amadou, yes, Amadou, please. Thanks for the presentation. Just one for me, please. Considering the BPO segment, you said that there was some seasonality involved, and that is why this quarter revenue was down. My question is, is it truly just for this quarter, and shall we expect an uptick, or shall we expect a lower base from now on? Thank you. Okay. Sorry, this was just due to last year. I guess your question is to know whether there is some seasonality in the contract. No, it's not the way we, sorry, excuse me, we had just an effect last year, but you should not expect any much more volatility in the future. I don't know, Pierre, if you want to add something with that. We expect to have a Q4 growing compared to Q4 last year. Somehow, the project we have built in August has given some effect at the beginning of 2025. Globally, on the year, there is no negative impact. It's only a visual impact on Q3. The profitability of the contract is still there, although we are still loss-making, but the loss is much less than the one last year. We expect to be profitable on this contract next year. Nothing has changed on a midterm vision. Johannes, you have the floor. Thank you for taking my question for the presentation. Can you be a little bit more, or can you give a little bit more color on the recurring EBIT guidance, especially for the second half of 2025? Because you know now what the missing impact from Olympia would be. Do you think that EBIT will also increase in the second half, or do you see perhaps also an increase in EBIT for Q3, and what do you expect from Q4? We expect that the negative effect coming from C-Media will be compensated by the fact that C-Media is making a better year than expected, and all the businesses are improving their EBIT. We can say that there is a very good chance that the EBIT of the second semester of this year will be roughly the same or a bit better than the one of last year, meaning that we should end at a range between EUR 45 million and EUR 50 million current EBIT. Okay. Recurring EBIT, without the risk of specialists. Current, yes, without exceptional charges. Okay. That was my main question. Thank you. Okay, thank you. Amira, you have the floor if you want to ask your question. Yes. Thank you so much for the presentation. Maybe talking about the Q4, what would be the trend by division? You want the trend on sales or on division? Yes. You know most of our business is quite recurring. Usually, we have a strong Q4 in data, which is the less more cyclical part of the business. We stick overall to our guidance of organic growth of 2% or there in the range of 2%- 4% in organic growth. This is what I can say. I don't know if you want to ask something more, Pierre, on this. Usually, the revenue of the second semester is equal to the revenue of the first semester, plus roughly EUR 20 million. We don't see why it should not be like that for 2025. If you take the first semester and you add EUR 20 million, you come to our guidance. Okay. Thank you. Perhaps you can remind us about the amount that you can benefit from the following sale of ENPS. We haven't communicated on it. If any impact, it will happen in 2026. I'm not sure that this is the question. What is your question? What benefit we had this year from the exit? No, no, not this year. For 2026, what could be the benefit? We cannot say because the company has been sold. It has been sold at what we think is a good price. The administrator has now to make the liquidation, and if something remains, it will be for us. We are not able today to say exactly what it could be. If there is a positive impact, it will be an exceptional profit. It will not enter the current EBIT. Okay. Okay. Thank you. Thank you. Yes, Amadou, I think you have another question. Yes. Thank you. This one is regarding the e-business. In one of our last calls, you mentioned that e-business is mainly profiting from the volume of invoices processed by you. If you'd be open to give us some more insight into that, where the volume this year is coming from. Is it coming from new customers you gained? Is it from an increased processing of invoices by you? Maybe if you'd like, some outlook doesn't need to be specific for the future because currently, the companies processing invoices are not required to use X-I nvoice, I think it's called, and ZUGFeRD. In the future, if the regulation is coming to be, then they would be. Are we able to extrapolate an increase in volume at a cost base which would be rather flat? Thank you. Today, the growth comes from new clients. We are very cautious on the number of documents we will manage in the future. Why? Because the regulation, the law has been postponed. For big companies, it will be mandatory to use electronic invoicing next September. As you know, the political people are changing a lot today in France, and there can be some postponement of the law again. That's the reason why we don't produce any figures on what could be our revenue when the law will be in place. We know that it will grow. We are sure of that because today, for most of our clients, we are just managing part of their invoices. The day they will be obliged to send to us 100% of their invoices, it will give new revenue for us. We don't plan any increase for 2026, except the fact that we are signing new clients. Thank you. We may have very good surprise and news to give, but we better not speak about that today. Okay. We had a written question from Jonas asking. Yes, indeed, Maya sales were better on this Q3 and since the beginning of the year, as we had mentioned in the previous calls. On your question whether the mix between On-Premise and Maya going to Maya would boost the margins going forward, yes, the margins would be better. We're happy with the growth that happens for the moment at Maya with the Maya products. We had launched the Maya Doctors in the beginning of the year. We're still experiencing it's growing. We have a lot of fixed costs on Maya, R&D costs. For the legacy products, of course, the R&D costs are lower. When we have a new client on Maya, it's profitable. The more we have new clients, the better it will be. We can say and remember that next year, there will be subsidies from the SEGURE plan. That was important for us to launch Maya Doctors because Maya Doctors has been designed to respect the SEGURE requirements. The SEGURE subsidies are for next year, not for today. Yeah, starting in 2026 and over the years after. Yes, we have also a second question from Jonas about cloud and support in terms of growth drivers and margins, and sort of long-term potential for cloud and cloud and support. Okay. At the end of Q1, there was a big service contract which finishes. Next, at the end of Q1 2026, we have another big contract which will be finished. Those two contracts, they were very specific. In fact, we were hiring people, technical people, to put them into companies which are administration companies, so companies linked to the state. Those companies, they have no possibility to hire people. They use those contracts to have extra people. Those contracts, they have a big revenue, but they are profitable, but in terms of percentage of margin, it's not that profitable. We will have next year probably a 0% growth year on cloud and support due to the fact that we are going to lose this turnover for this contract which will be stopped. Those contracts, they are stopped. Why? Because in those administrations, they are obliged to change, how do you say, prestataire? Provider. Providers. Suppliers, provider. Every three or five years. We knew that we had to lose those revenues. For next year, we will be very cautious and we will plan a 0% growth on cloud and support. Yes, Johannes. Can you hear me? Yes. Yes. Could you give a little bit of an outlook for the profitability in 2026? What could be the driver for higher or lower profitability? I think one driver is the Allianz contract, BPO contract that will get profitable. Another driver will be the increased revenue of Maya. What are further drivers for higher or lower profitability? There will be a third driver, which is the fact that we have a reorganization plan on our French pharmacy business with 100 people leaving the company. This will generate, although it makes a lot of perturbation, a lot of movement into the company. We are hiring now a lot of commercial people to reinforce the commercial business on this part. We will save the salary of 100 people, so roughly EUR 5 million-EUR 6 million. I cannot give you a figure for 2026, but we feel that we may have an improvement into the EBIT, current EBIT equivalent to the one we will have this year, meaning that we could be between EUR 45 million and EUR 60 million. Unless you mean EUR 50 million. You mean EUR 55 million and EUR 60 million? I'm sorry. Yes, EUR 55 million, and EUR 60 million, yeah. Okay, thank you. You're welcome. On the pharmacy business, you made a question. We have a plan where we hire a lot of commercial people to reinforce the sales of the software business. We are creating a company which is called DokaShop. This will be a company dedicated to sell everything healthcare professionals need. It will be only in France through a web system. It is really an e-business. E-trading for hardware. Yeah, for hardware. We never push a lot those hardware sales in the past. Now we are splitting the pharmacy business. It will be a software-dedicated business with a specific team to sell software. We will have DokaShop, which will be a company that will work for all the healthcare professionals in France. Pharmacists, of course, but also doctors, kinesiotherapists, nurses, and so on. This new company, DokaShop, will be launched in January. We don't think it will continue to shrink. In fact, we expect not. Yes, Amira, I think you have one more question. Yes, please. You said that 2026 will benefit from increased profitability. What about sales? How do you see the outlook on revenues, especially for software business? Software, are they. For the division, I guess. You're speaking about division, not business units? Yes, yes, about the division. Oh, it's a bit early to give figures. It is true that we, as for the present year, are more focused on improving the margins, so reducing the costs than having a strong growth. I think that next year, it's a bit early to say, but we will have the same kind of proposition we have made this year. We will have a growth between 3% and 5% like for like. Okay, thank you. I think we have one more question on the pharmacy market in France and the competition from Equasens. You know that in the last few months, years, it's more than Winpharma that gained market share in the French pharmacy market. Equasens is quite stable. The player that took share is Winpharma. Today, we are focused on stopping losing clients. That's the reason why we are hiring a lot of commercial people, because the problem is that with this big reorganization into the company, a lot of clients have been not visited. Our first goal is to stop losing clients. Since it seems that our software and our offer is the most modern one, we think that we are going to very slowly, because pharmacists are not changing their system very easily. Very slowly, we can win some market share in the next years. Okay. Do we have some more questions? I guess I don't see any raised hand, and I think we answered the written question. Thank you for attending the presentation. Thank you for your questions. Next call will be in January for the full year revenue. Thank you very much, and have a good evening. If any questions, you can still send them to me if needed. Thank you very much, and see you next. Bye-bye. Bye-bye. Thank you. Bye. Thank you.