Thank you, and welcome everyone to Eurogroup Laminations H1 2026 financial result presentation. Joining us today are Marco Stefano Arduini, Group Chief Executive Officer, Isidoro Guardalà, Deputy Group Chief Executive Officer, and Matteo Perna, Group Chief Financial Officer. The press release and the presentation supporting today's conference call are available on the company website in the investor relations section. Before we begin, please note that during this call, the company will discuss its business outlook and make forward-looking statements based on its current expectation. These statements are subject to risk and uncertainties that could cause the actual results to be materially different. I will now hand over to the Group Chief Executive Officer, Marco Arduini. Please, Marco, go ahead. Thank you, Luca. Thank you very much, as well, welcome to everyone to the first half 2026 presentation. I want to start this presentation with a few statement before entering in the results. 2025 has brought a lot of changes in the market in view of all turbulence that we experimented and we saw. For this, we consider 2026 a year of transition. I have to say that the first half 2026 results are in line with our expectation. On the other side, we see as well that the general macro trends of electrification go behind the electrical car. The EGLA diversified business model is ensuring the possibility to catch all the opportunities that are linked to the energy transition. To recognize as well the next wave that can secure the growth for EGLA. Having said that, we enter in the results for this first half and we confirm the improvement on the quarterly basis, driven by the industrial and infrastructure business solution. We see, at the same time, the first sign of recovery in mobility. If we enter in the detail, we see, of course, that 2026 is impacted, especially in the North American market. For the e-mobility, we achieved EUR 224 million revenues. That is down 13.3% compared to last year. These lower sales are mainly driven by the North American markets. At the same time, we see early sign of recovery in the order book and as well in the pipeline. The region where we see is, of course, for the order book is China and Europe. For the pipeline is as well the European market. Overall, we see early sign of recovery. If we move to the industrial and infrastructure solution, we see as well a sequential growth in this business. Mainly driven by the increasing demand for our application that serve the data center market. Here specifically is about generation of energy, is the cooling down, the refrigeration for this data center. The sales revenue are in line with EUR 173 million, up 9% compared to last year. The higher volume are consistently in Europe, in North America. While in Asia, we see a stable volume compared to last year. Overall, the margin are improving thanks to the execution of our performance improvement program. If we move to another important part, in May this year, we as well finalize a medium to long-term financing agreement with a duration of five years, up to EUR 375 million. This was an agreement that was made with a pool of leading banks and is allowing us to optimize the financial structure. The average debt maturity moved from two years to four year. With regards to the performance improvement program, just some as well highlight on this side. With regards to the organization, in the first half, we have reorganized our Mexican manufacturing footprint in line with the volume that are now foreseen, and we have consolidated the tooling facility in Italy. Last but not least, we have as well appointed a new Chief Operating Officer, Renzo Argentin, in order to strengthen our operational leadership, and as well execution. With regards to the operational efficiency programs, we have advanced our program in Europe, in EMEA, and as well in North America. Thanks to this, we have as well achieved improvements in margins and cash flow. Based on all, let's say, this consideration and as well results, we confirm our 2026 guidance. In term of revenue, a range between EUR 700 million- EUR 750 million. In term of adjusted EBITDA margin, around 11%. In term of free cash flow, will be positive in 2026, including as well CapEx of approximately EUR 45 million. With this, let's say, statement, I now ask Matteo Perna, our group Chief Financial Officer, to enter in the details of the financial results. Okay. Thank you very much, Marco, and good evening. The total amount of revenues that we generated in the first half of 2026, it's equal to EUR 396.5 million. This is implying a 7.6% decrease as per last year. This is as well the evolution of the different behavior of the two segments. You can see that the industrial segment reported a 5% increase compared to last year, whilst the e-mobility solution business a decrease in the range of 15.5%, driven by the evolution of the North American market. I have to say, revenues are above the budget across the different geographies, I've as well to say that the ordering taken for the second part of the year, it's as well slightly above our budget. Moving to the EBITDA adjusted, you see the total amount is EUR 36.1 million. This is implying a 9.1% margin over revenues, a 19.4% decrease compared to last year. A few consideration. The total amount of adjustment, which is part of our results, it's approximately EUR 7 million, I have to say that out of the EUR 7 million, EUR 3 million are restructuring cost. As we said, we completed the reshaping of the tooling activities in Italy in 2026. As well, we had approximately slightly more than EUR 500,000 restructuring cost in Mexico. The total amount of restructuring cost for the reorganization efficiency was in the range of EUR 3 million. Having said that, you see that in terms of segment report, good performance coming from the industrial and infrastructure solution segment, EUR 19.1 million increase in 18.5% compared to 2025. Whilst the e-mobility business is reporting EUR 17 million in terms of EBITDA adjusted. I have to say that on a quarterly basis, this is implying approximately EUR 8.5 million in terms of the EBITDA generated in the second quarter for the e-mobility segment. The increase on a quarterly basis is mainly driven by the evolution of the industrial segment, due to the strong operation that we had both in North America and as well in Europe. Total amount of D&A that we accounted in the period it's EUR 27.8 million, basically in line compared to what we report in 2025, which was equal to EUR 27.6 million. It's important as well to mention that out of the total financial expenses that we accounted in the second quarter, we have EUR 1.8 million of one-off cost related to the evolution of our financial structure and the refinancing agreement that we signed with the banks. You had the effect of the previous contract, which were closed, and as well, the related derivatives, plus the effect of the new agreement with the banks. Moving on on CapEx side, we accounted approximately EUR 20.8 million of CapEx, of which 53% is the part related to auto, whilst the remaining 47% is to support the growth of the industrial segment. If we can move to the next slide, please. In terms of a few breakdown over the revenues. You see that now, e-mobility segment is representing approximately 56% over the total amount of revenues, whilst industrial 44%, and Europe is still representing among the vast majority of the business, accounting for more than 56% over the total amount. In the period, we sold approximately more than two million motor sets to support the automotive business, and we add four new SOP in the quarter. The total amount of SOP that we had, so the new project we started to support the traction business for the automotive, it's equal to seven, of which three were what we accounted in the first quarter and four in the second quarter. I have to say that we were originally expecting five new projects to get started, but one has been shifted to the Q3. We do confirm the total amount of new SOP for this year, which is going to be equal to 14 new SOP. If we move to the next slide. We said the total EBITDA adjusted margin, it's at 9.1%. You see the Q2 2026 EBITDA adjusted margin, it's at 9.1%, and this has to be compared with 10.2% that we are reporting in Q2 2025. It's important to emphasize that in light of the execution of our performance improvement program, we achieved approximately EUR 2.5 million of improvement in EBITDA, which are the result of the execution on such a program. We already commented the D&A. If we can move to the next slide. In terms of net working capital evolution, we had a EUR 10 million decrease, compared to the figure that we reported at the end of March. We're at EUR 10 million above compared to what we reported at the end of June 2025. It's important to consider that in terms of trade receivables, the total amount is equal to EUR 163 million, and this is implying a DSO in the range of 75 days, compared to 69 days in terms of DSO that we had at the end of June 2025. On inventory side, our DOI stands in the range of 159 days compared to 152 days that we reported at the end of June. Whilst on a payable side, we're running with DPO in the range of 149 days compared to 147 days. I have to say that one of the major impact that we have now embedded in our net working capital, it's evolution of our business on a geographical basis, given that the decrease of our activities in North America, it's having a negative impact in terms of our net working capital, both in terms of DSO, given that the cash collection in North America is very effective. As well in terms of DPO, whilst due to the fact that we have to import 100% of the raw material that we need and that we consume in North America, the DPO decreased accordingly. Moving to the next slide. This is a result of the evolution of the performance on economical basis, and as well on the CapEx and the net working capital absorption. You see that in terms of net leverage, considering the last 12 months of EBITDA adjusted, we're now in the range of 3.5x, implying a net debt in the range of EUR 280 million, so approximately EUR 8 million decrease compared to the figure that we reported at the end of March. You see that out of the EUR 280 million, EUR 40 million are making reference to the financial lease liabilities as per IFRS 16. In the period, we bought BTP which will expire above 12 months, and now it's part of the financial assets. As well, we distributed certain dividends with certain of our controlled companies, which are not entirely controlled by Eurogroup Laminations, and the total amount of the BTP purchase and dividends, it's in the range of EUR 3 million. Moving to the next slide. Given that we are now in line as per our expectation, we do confirm as well, the performance that we discussed as well last time, it's backloading in the second part of the year. In light as well of the visibility that we have with the order intake for the next month and again, in light of the expected execution of the efficiency program and the related effects to be released in the second part of the year, we do confirm our guidance for the 2026 year, which is including total revenues to be between EUR 700 million-EUR 750 million, and EBITDA adjusted margin in the range of 11%, CapEx in the range of EUR 45 million, and a positive operating free cash flow. Thank you, Matteo. We can now pass the floor for the question-and-answer session. Thank you to the speakers today. We now have an opportunity for a question. As a reminder, if you would like to ask a question, please use the raise hand function on your screen, or for those dialing in, it is star nine on your keypad. Once your name is announced, please unmute your line, state your company name before asking your question. Thank you. We will wait just a few moments to give everyone the opportunity to ask a question. The first question today comes from Alberto Gegra. Please, Alberto, the floor to you. Hi. Good afternoon, everybody. Hope you can hear me well. Yes. My first question is a clarification on the guidance just to better frame the second half, because as you also said in the first half, we look ahead on sales, but also even the high end of your guidance would imply a lower half on our sales in 2026. Just to understand which kind of quarterly development we should assume in the third and in the fourth quarter, and at the same time on margins confirming roughly 11% will require a significant step up in the second half. Also if you can provide us more color on the moving parts that you expect would bring benefits on margin would be helpful. I have a second one. If you can comment, how is your main customers in the automotive segment doing in this year, in the first half? What are your expectation for the full year? Okay, let's get started from the first question, Alberto. We do expect total revenues to be slightly above compared to what we report in the first half of 2026. You have as well to consider the seasonality that we will have as well in August and December. That's why we do confirm our range between EUR 700 million- EUR 750 million. As of today, to the best of my knowledge, we are more, let's say, closer to the upper part of our guidance in terms of revenues. We don't expect to be above the guidance as of today. In terms of margin, you are right. We have to consider that we do expect an improvement in terms of margin due to the, let's say, full execution of our performance improvement program. I have to say that as of today, in the first half, we have accounting approximately 40% of the total amount expected to be achieved this year in terms of improvement of the performance. I have to say that as part of our guidance in the second part of the year, there is as well a potential income deriving from the discussion that we're having in the supply chain. Of course, we don't want to disclose this amount, but it's embedded in our estimate. The second question, you know that we don't want to comment on our customers. I have to say that we are progressing a very important discussion with them. We have been involved in 100% of the project that they are launching, and this is not only make a reference to the automotive segment. I have to say that we are able to serve them across all the different geographies. As of today, we are progressing very well as per our expectation. Thank you, Alberto. Thank you. Currently, we don't have any question queued, so we will wait just a few moments to give everyone the opportunity to ask a question. As a reminder, if you would like to ask a question, please use the raise hand function on your screen, or for those dialing in, it's star nine on your keypad. Once your name is announced, please unmute your line, state your company name before asking your question. We will wait just a few moments to give everyone the opportunity to ask a question. We now have a follow-up question from Alberto. Please, Alberto, the floor to you. A few follow-up from my side. The first on data center business, if you can better quantify the percentage of sales on the first half and maybe also the growth rate and also the kind of complexity that this application requires to understand the competitive advantage in this segment. If you can provide an idea, at least directionally, of what is the expected trend for the CapEx in 2027. Very last on India market, if you can comment on how is Kumar growing, how is the transformer business is growing, and maybe how close you are to finalize the additional partnership in India for the automotive segment. Okay. On data center. It's interesting because we do expect to generate approximately slightly more than EUR 50 million of total revenues in 2026 deriving from data center application. To let you know, let's say on an apple with apple basis, the total amount of revenues that we generate in 2025 was in the range of EUR 30 million. This is implying an increase year-over-year in the range of 87%. This is very meaningful. As you can imagine now we're able to catch this, let's say, opportunity mostly in North America, especially through our Mexican, but as well through our Eurotranciatura USA plant, and as well in Europe. While it's still not meaningful the amount of revenues expected to be generated this year from such a trend in Asia. With respect to our segment, this is having an impact both in HVAC, as Marco was saying, as well in what we call energy, as well due to the need of new electric generators to support the energy consumption required by the data center. As well, as you were saying, deriving from the transformer business. CapEx, we didn't provide the market with any guidance to support guidance for 2027. I have to say that to the best of our knowledge, we don't expect guidance to be above compared to what we will report this year. We do expect the CapEx of 2027 as of today to be above EUR 45 million. Kumar, first half to stay in line as per our expectations. This is implying approximately a 10% year-over-year increase, without the Forex effect, which is having, as of today, a negative effect. We are progressing consistently with the expectation we call. On JV. On the JV, yes. As you know, we are in advanced stage of discussion with a potential local partner to support our entrance in the Indian market, in the e-mobility segment. I have to say again, we're in advanced stage of discussion also. We do expect to complete such discussion within year-end. Maybe just to add two points related to the data center. As you can imagine, all the specification that are connected to this application are very sensitive to the efficiency. Efficiency in the consumption of energy and efficiency in the generation of energy. It's important to secure the best technologies in order to have, let's say, the right capabilities that are required by the customer operating in this field. With regards to the rate of growth, I think you can, of course, consider as well what the market is expressing. The number are really incredible. I don't want to throw numbers, but if you consider the declaration that all the big companies are making in North America and in Europe, the rate of growth is double-digit for sure. Thank you. Thank you, Alberto. Thank you. If I may, very quick follow-up on tariffs on steel, because of the new European regulation. If you can remind us which percentage of the steel that you use in Europe is imported, and if you are having any impact from the new regulation that lower the allowable amount of steel without paying tariffs. Well, we import approximately 65% over the total amount of electrical steel that we consume in Europe. Finally, the quotas were published few weeks ago. Well, of course, it's a matter of now being able. Now that we know the rules, it's a matter to reorganize ourself to be able as well to face such a change. As well to remember that it's not only a matter of different quotas, but as well the duty has been increased from 25%- 50%. On top of that, there is as well the so-called CBAM, having as well an impact on our import price. For us, it's important to be able to pass through the expected evolution of the electrical steel purchasing cost in our price list. I have to say that as well our competitors are facing such a situation. Of course, we do expect overall the price to increase in Europe compared to what we have experienced over the last months. To me, it's the major points which are worth to be discussed. Okay, clear. Thank you. Thank you, Alberto. We now have a question coming via chat from Federico Femminella. The question is, you mentioned improving trends in the e-mobility order book. Could you please provide more detail on your visibility for the next 12 months, 18 months? Specifically, what do you expect the recovery in order intake to start translating into revenue growth and EBITDA margin improvement? As we said, the order book, compared to the figure that we reported at the end of April, despite the fact that in the meantime we have generated sales increase by approximately EUR 100 million, this is mostly driven by, as Marco said, the evolution of the business in China, but as well, the evolution of the business in EMEA. I have to say as well, through the significant business development activity that we have been able as well to carry out in North America. Pipeline increased and now, somehow surprisingly, the region which is leading the most growth in pipeline, it's Europe. It's Europe as well, including potential new projects which have been requested to be quote from Chinese OEMs, which are now considering potentially to establish and set up their setup in Europe. On top of that, I have to say that as per VCR, given that we do expect 14 new projects to get started, the total amount of revenues deriving from the new projects is expected to be in the range of EUR 40 million compared to what we have in our guidance. Robotaxi is a trend in North America that is growing and for which, of course, there are new forecasts that are increasing the pipeline and the order book. It's important to underline this trend that is not perceivable here in Europe, but is perceivable when you travel to America and you visit certain cities. This is one of the causes of this increase in order book and pipeline. Thank you very much. Currently, we don't have any question queued. We will just wait a few moments to give everyone the opportunity to ask a question. As a reminder, if you would like to ask a question, please use the raise hand function on your screen, or for those dialing in, it's star 9 on your keypad. Once your name is announced, please unmute your line, state your company name before asking your question. Thank you. We will now wait just a few seconds to give everyone the opportunity to ask a question. I currently see no question queued. We will wait just a few moments before handing back to the speakers. There are no further question queued, I will now hand back to the speakers for any final comments before bringing this presentation to a close. Thanks again for attending to this conference. We want to just underline again that 2026 is a year of transition, and the first half results are in line with our expectation, and that the macro trends of electrification go behind the electrical car and our diversified business model can secure that any possibility of an opportunity that there is in the market, Egla is capable to catch it. Any opportunity connected to energy transition is, of course, an opportunity for Egla. We remain positive, and we thanks again for your attention to Egla. Thank you. This presentation will now come to a close. Thank you.