Ladies and gentlemen, welcome and thank you for standing by. Welcome, and thank you for joining the full year 2024/2025 preliminary results, which will be presented by the CEO, Markus Wittmann, and CFO, Benjamin Retzer. Throughout today's recorded presentation, all participants will be in listen-only mode. The presentation will be followed by a question-and-answer session. If you would like to ask a question, you may press star followed by one on the telephone. Please press the star key followed by zero for operator assistance. I would now like to turn the conference over to Markus Wittmann. Please go ahead, sir. Yeah, thank you, Sandra. So, ladies and gentlemen, welcome to the presentation of Novem's preliminary results for the fiscal year 2024, 2025. As outlined in the previous presentations, we have faced a very challenging year. Revenue declined by 14.8% compared to previous year, settling at EUR 541.5 million. Reduced calls and postponements by our customer, along with the resulting poor cost coverage, had a significant impact to our Adjusted EBIT. Nevertheless, Novem once again demonstrated its ability to manage such challenges effectively. The profit margin remains solid at 9%, corresponding to EUR 48.9 million. In the final quarter of the year, we successfully increased Free Cash Flow to EUR 28.5 million, mainly through operating activities. As previously mentioned, the volatile environment required numerous of cost management initiatives. Among this, Novem unfortunately had to lay off 380 employees during this year. On a more positive note, we secured the Volvo XC60 program this year. With this addition, Novem now covers the entire SUV platform of Volvo. Despite a strong order intake of over EUR 100 million in the year 2024/25, the ongoing unpredictability of customer behavior and governmental policies continues to pose challenges for the automotive supplying industry in the year 2025. Quickly adapting remains crucial in navigating through these uncertain times. I'd like to move on with the financial highlights and starting with Q4 of the fiscal year 2024/25. Revenue in Q4 ended up with EUR 138 million, compared to last year's EUR 149.7 million, ending in a adjusted EBIT of EUR 12.7 million and margin of 9.2% compared to last year's margin 9.6%. Free cash flow, as mentioned, was very strong in the last quarter and ended up with EUR 26.6 million, increased compared to last year's by around about EUR 2 million. Net leverage ended up by 1.8x multiple adjusted EBITDA. Coming to the fiscal year, as mentioned, revenue with EUR 541.5, 15% below last year's revenue, adjusted EBIT at EUR 48.9 million. Adjusted EBIT margin 9%, compared to last year's 10.9%, and this three strong free cash flow ended up with EUR 28.5. Net leverage ended also over the entire year at 1.8x multiple adjusted EBITDA. So with this overview, I would like to hand over to Benjamin to give us more detailed insights. Benjamin? Thank you very much, Markus. I would also like to take this opportunity to welcome you to today's Q4 and preliminary results presentation, and now together, we will go through all the details of the group results, starting with the revenue development. Total revenue of EUR 138.0 million in Q4 decreased, as already heard, by -EUR 11.7 million or -7.8% in comparison to last year. In terms of series business, revenue series of EUR 118.6 million diminished by -EUR 10.8 million or -8.4% versus prior year, and contributed all in all to 85.9% of total revenue. This drop in series business was influenced by continuously subdued call-offs, above all, in the regions Europe and Asia. Top line benefited from favorable FX effects, so the revenue in Q4 would have been slightly lower by -EUR 0.1 million or -0.1% at a constant FX rate. Tooling. Tooling added EUR 19.4 million to total revenue and, noted slightly below previous year by -EUR 0.9 million or -4.6%, predominantly driven by a different project phasing. On a full year basis, as already presented, total revenue recorded at EUR 541.5 million, and therefore decreased by -14.8% compared to last year. In Q4, adjusted EBIT of EUR 12.7 million was slightly below prior year by -EUR 1.7 million, but as already heard, resulted in a robust profit margin of 9.2%. Compared to Q3, in which an Adjusted EBIT margin of 8.1% was reported, the margin improvement to 9.2% was predominantly influenced by Series Business, as volumes were seeking to kind of stabilize and supported by the ramp-up of our business with a large US EV platform. On a year-to-date basis, and in these persistently challenging times, we achieved a solid Adjusted EBIT margin of EUR 48.9 million in absolute numbers. Nevertheless, bottom line was still influenced by a sluggish market momentum due to continued low demand and volatilities surrounding US tariff discussions, and led also, and again, to an unfavorable cost coverage because of the difficult utilization of our operations. Consequently, Novem, we announced further restructuring activities in Lesce, Slovenia, to streamline the footprint, especially in Europe. Nonetheless, and despite all this, rigorous cost control in prior years, restructuring measures materialized and helped to sustain profitability. Additionally, the operational result was supported by customer compensation, one-off pricing effects, and the release of accruals in the low single-digit million EUR. Summarize, we are certainly not at a satisfied level as we continue to see this sluggish market momentum and tense market conditions, which are worsened by U.S. tariffs. Nonetheless, we would like to emphasize Novem's resilience, underpinned by restructuring activities and cost-saving programs, which helped to achieve a still solid profit margin of 9.0% for the full year, and a strong free cash flow, upheld and protected Novem liquidity position in a difficult market environment. Having said this, Novem posted a strong free cash flow of EUR 26.6 million, and outperformed last year by +EUR 2.5 million. Cash flow from operating activities of EUR 30.2 million, recorded EUR 4.2 million above last year. The main reasons for this development were a lower decrease in provisions in the amount of EUR 7.4 million, a higher increase in trade payables by EUR 4.1 million, partly compensated by a lower decrease in inventories by -EUR 8.0 million. The favorable development in provision was predominantly attributable to prior years' restructuring costs in Bergamo, Italy, and lower tax payments in Germany. Cash flow from investing activities of -EUR 3.5 million came in above previous year's figure of -EUR 1.8 million, mainly due to increased investments of EUR 1.0 million. Also, the full year free cash flow came in well below last year. The strong Q4 helped to offset some of these adverse one-off impacts, leading to a solid and overall figure of EUR 28.5 million. CapEx, capital expenditure, reached EUR 4.5 million in Q4, and therefore EUR 1 million or 29.5% above previous year's level, which resulted, at the end, in an underlying CapEx ratio of 3.3%, compared to last year's number of 2.3%. The majority of capital expenditure was invested in our plants in Pilsen, with EUR 1.8 million, and Querétaro, Mexico, EUR 1.7 million for that quarter under review. About half of the investments for the last twelve months were related to the industrialization of a large US EV platform. On a full year basis, Novem made overall investments in the amount of EUR 17.5 million, compared to prior year's investment of EUR 16.1 million. As of March 2025, the total working capital stood at EUR 123.8 million, and was 7.1% lower than last year, with an amount of EUR 133.3 million. This positive development of EUR 9.5 million resulted from lower trade receivables in amount of EUR 9.8 million, higher trade payables, EUR 3.6 million, lower inventories, EUR 3.0 million, and contract assets negatively affected by higher tooling net position in the amount of EUR 7.6 million. The decline in trade receivables was attributable to a, for sure, lower top line, but also due to an active AR overdue management, supported by the factoring program in place. And the decrease in inventories was driven by the volume-related decline in stock of raw materials and stock management. On the other hand, higher tooling net, due to increased tooling receivables and lower tooling-related deferred income, can be understood as an indicator for future series business, and is a result of the strong performance in the acquisition of new orders in recent years. Looking at trade working capital, means without both tooling net and contract assets, it developed favorable, from EUR 51.1 million to EUR 34.7 million on a year-on-year basis. So to put it in a nutshell, overall, the major KPIs in terms of working capital developed promisingly, as DPO of 59 days and DSO of 30 days developed favorable compared to prior year, while DIO of 40 days remained at a stable level. Having now a look at our capital structure, gross financial debt of EUR 298.3 million, recorded below last year's level of EUR 306.4 million, which is a minus of EUR 8.1 million. Lease liabilities, by definition, included in the gross financial debt KPI, stood at EUR 48.1 million, compared to prior year's number, EUR 56.5 million, and therefore declined by EUR 8.4 million. Also impacted by the aforementioned restructuring initiatives, optimizing our logistics and warehousing footprint. Having heard about the strong free cash flow in Q4, the cash position increased year-on-year from EUR 141.5 million to EUR 150.1 million, supported, as always, by EUR 41.2 million from a non-recurring factoring program, prior year's number, EUR 44.3 million. Therefore, net financial debt stood at EUR 148.2 million and showed a noticeable improvement against prior year, with a number of EUR 164.9 million. Net leverage ratio of 1.8x, recorded slightly above the level of last year, with 1.6 times adjusted EBITDA, but showed a favorable development versus previous quarter. We stood at 2.1 times adjusted EBITDA and led to a lower margin spread. Looking now into our operating segments, the geographical split. The revenue, for sure, decreased across all regions by -11.7 million, and to the largest extent in Americas, with a top-line decrease of -4.5 million year-on-year, but resulting mainly from tooling, while series turnover developed stable. Americas was still the region accounting for more than half of the total revenue, followed by Europe and Asia. Contrary to the development in Americas, the revenue decline in Europe, with -EUR 3.5 million year-on-year, stems from lower series revenue, which was partly offset by increased tooling revenue. Series business fell short because of the ramp down for Audi A4 and BMW 5 Series, as well as lower volumes of Mercedes S-Class. Following Europe, the weaker revenue in Asia, -EUR 3.8 million year-on-year, were also mainly attributable to series business as a result of continued lower call-offs of BMW X5 and the EOP of BMW X3. Transforming the before mentioned explanations to the bottom line or adjusted EBIT, we see that the adjusted EBIT increased in Americas, remained stable in Asia, and declined sharply in Europe compared to prior year. As already heard and mentioned, in Europe, Adjusted EBIT of -EUR 3.9 million. In prior year, we had a EUR 0.7 million positive result, was negatively affected by a volume-related poor cost coverage and an unfavorable product mix, as well as lower customer compensation payments. Conversely, cost saving initiatives materialized in lower leasing and rent costs, as well as leased workers, which at least partially mitigated and helped to protect the bottom line. Nonetheless, we still see good prospects in Europe as consolidation movements have already taken place, and the market and Novem has already, has taken place in the market, and Novem has already benefited from that fact and will take over future business, and thus gain further market share. In Asia, Adjusted EBIT of -EUR 0.1 million developed sideways despite the drop in sales due to rigorous fixed cost management. Adjusted EBIT of EUR 16.7 million in Americas outperformed prior year as a result of a one-off pricing effect and the release of accruals, whereas input costs remained so far stable. This brings us to the end of today's presentation. So to summarize, again, the ongoing geopolitical tensions and conflicts continued to disrupt global trade and economic stability during the financial year 2024-2025. In addition, the post-election shifts in U.S. trade policy have amplified uncertainty everywhere, driving inflationary pressures and dampening overall growth, and therefore, surely the overall automotive sector, as well as Novem, and remains in a period of transformation and transition. However, this phase also gives us an opportunity to potentially take advantage of, refocus ourselves, seize opportunities as they emerge, and look so far positively to the future, based on the resilient business model and supported by our liquidity position. Thank you for taking the time to participate in our call today, and we now look forward to addressing any questions you may have. Ladies and gentlemen, at this time, we will begin the question and answer session. Anyone who wishes to ask a question may press star followed by one on the telephone. If you wish to remove yourself from the question queue, you may press star followed by two. If you're using speaker equipment today, please lift the handsets before making your selections. Anyone with a question may press star followed by one at this time. Our first question comes from Alexandre Raverdy from Kepler Cheuvreux. Please go ahead. Good afternoon. Thanks for taking the questions. I have three, please. The first one is on the Americas profitability. Could you please quantify the different boosts in Americas, namely the one-off pricing and the release of accruals, so that I can try to understand the normalized EBIT level? That's the first one. The second question is on the US tariffs. If you could please provide some more color on the potential direct impact in terms of USMCA compliance, the flows between your different plants and whether you are engaged already in discussions with your customers on potential compensation. And the final one is on restructuring in Slovenia first. If you could please give some more details on the size and the expected savings. Also, in terms of the timing of the savings. And I know it's a sensitive topic, but do you feel that it's now enough in terms of restructuring, or whether you believe there is room for further? Thank you very much. Thank you for your questions, Alexandre. To your first questions, the effects in the Americas region. So at the end of the day, it's comparable, to be honest, to last year. So the release of accruals, they're in a lower single-digit million EUR range. And the pricing or customer compensation also have only a minor impact in the Americas result, as the pricing especially took place in, or the customer compensation and pricing took place in the European business. So, there are not really material impacts in terms of one-off items in the Americas regions, at a lower range of a single-digit million EUR number and level. Does this already answer your question, Alexandre? Yeah, sure. That's it. Thank you. Okay. Coming to the U.S. tariff discussion. So there were several rounds, as everybody know of being in place or not in place. So at the end of the day, with that announcement from the U.S. administration by beginning of May, that development, so to say, helped Novem and the footprint of Novem, because for sure, our Mexican plant is the biggest plant we have with the highest output, and therefore, all what we are doing there is in alignment with that USMCA agreement, and therefore compliant. So that helped and supported our view. Nevertheless, for sure, we have also a plant in Honduras. Honduras is not part of that USMCA agreement. There are still 25% applicable, which for sure hit us, but not to a large and material extent. All in all, for sure, we are in discussions with the applicable OEMs to have a certain pain sharing, and we are already or we have already a quite promising level of agreement. So, that's not materialized in any of that of the numbers, but we are in quite close discussions, and there is a room for negotiation and a room for an agreement on both sides. And therefore, we are so far satisfied with that situation and also with that development like it is for now. Yep. That's about the tariffs. I will take over for the Slovenia restructuring. To be honest, we feel to be on the bottom line now. We feel okay with all the actions we did in the past. Nevertheless, we have said it's a volatile market, so needs to be on focus. We are looking for some minor actions to do, looking into indirect structure, and also looking into some bringing warehouses back in-house, you know. That's more or less what we have in mind for the near future. As said, we are well prepared now for the coming months, as for the coming year. And also in Slovenia, we have some new ramp-ups where we are now, as said, prepared for that. Okay, thank you. I have a quick follow-up, if I may, because I didn't see any mention to the midterm targets, to the revised midterm target, I should say. So do you confirm, you're still expecting 11%-12%? Yeah. That's that adjusted midterm guidance we gave during the last presentation is still valid. So you see that we came out here for the full year 2024-25 at 9.0%. But for sure with some one-off items already that waited on that margin level and we still stick to that midterm guidance due to all the fact that restructuring will further materialize with our business with the US EV platforms and customer and therefore still valid that with midterm guidance. Great. Thank you. I give it here. Welcome. The next question comes from Olson Zachary, from Drum Hill Capital. Please go ahead. Hi, gentlemen. Thank you very much for taking my questions. I was wondering if on slide 7, it mentions publicly available data on the LVP market indicates year-over-year growth of 1.3%. Is that light vehicle or luxury vehicle? This one? It's, it's light vehicle production. Okay. Yeah, just as a follow-up to that, yeah, what I was wondering was obviously light vehicle production obviously growing a little bit, not, not strong growth. But would we say that, you know, definitely it's the tilt towards the luxes, luxury market that's, you know, obviously going to impact revenues to some extent, the OEM specifically, with whom you're dealing with, that probably, you know, makes sort of the revenue decline year over year, that little bit more dramatic, yes? Gregory, you are still in the line, right? Yes. Yes, I am. Can you hear me? Yeah. For sure, the luxury segment is still, or is for sure, under pressure, as the customer sentiment in these challenging times is on a, yeah, low level. And we have a negative market momentum due to the fact of all the external factors, macroeconomic, geopolitical. So, but nevertheless, we, as we already announced during the last presentations, we build up on that, strong acquisitions and order intakes we had recently over the last couple of years. We are in close discussions with all our OEMs, and therefore, that's a key fact that luxury segment we are in and which is the base for our business model will increase again. So it's all a volatile cycle, and therefore, we are quite confident about that. Also, what I mentioned, that there is a kind of consolidation effect, especially in the European market and segment, and therefore, for sure, these times are always risky. But for sure, always, there are always emerging opportunities which we are taking advantage of, and that makes us quite confident about the future. Certainly. Thank you very much. Maybe just sort of as a related follow-up, if I may. You know, could you speak, you know, without tipping too much of your hand in terms of strategy, taking advantage of sort of these challenging times to... You know, for example, we've discussed a little bit about cost cutting, and maybe let's call that playing defense, but playing offense in terms of winning, due to, you know, consolidation of suppliers and other things that can be done to, you know, win new platforms like you did, where you fully have the Volvo SUV platform. Just curious about things that you can, you know, not waste a good crisis, as they say, and take advantage of these times. Curious if you could expand a bit more on that. Yeah. You described already the main triggering points of that momentum right now. So, for sure, that gave us the time to refocus ourselves, to look into processes, also into plants and footprint of plants and also to our workforce. And we need to adjust that for sure. And also giving us the time or looking into ourselves, pushing digitalization prospects and processes and all that stuff. So that's for sure what we did and what we are right now doing in these challenging times to refocus right now, and it's the time for that to be prepared for the upcoming future. And also what I mentioned, for sure, especially in the Europe region, it's a quite difficult picture, not only for us, also for the competitors, and therefore, I think it's quite worse that we have a stable and an excellent liquidity position to come through that period, and then to be strengthened, when it comes to that point in time that we see then more positive developments and trends. Okay. It makes a lot of sense. That's all from my side. Thank you very much. The next question comes from Liana Abraham from RBI. Please go ahead. Thank you. Can you hear me? Yes, we can hear you. Ah, perfect. Perfect. Just one short question. Not sure if you can disclose it, but, like, can you give a rough, rough estimate of the revenue/EBITDA contribution of Tesla? So no, sorry. So we will not talk about that here in this conference, so we will not give no estimation for that. We are even not allowed to do so. But just how much revenue share? Okay. Yeah, so as mentioned, we... Okay. We are not allowed to disclose that on that customer-specified level, especially in this election. Okay. Thank you. As a reminder, if you wish to register for a question, please press star followed by one. The next question comes from Jose Asumendi from JPMorgan. Please go ahead. Thank you. Just a couple of questions. I mean, when you look at your revenue highlights, you mentioned some ramp downs of the ID.4, the BMW 5 Series, S-Class, and then in Asia, you mentioned also the X5 and the X3 from BMW. I'm just thinking. Are you also in the renewal programs of these vehicles, in Asia, when it comes to BMW, as we think about the X3 and the iX3? Are you able to offset the lower call-offs on the BMW X5 in China with other vehicles, with other customers? And just in general, you know, how are you able to hedge a little bit the declining volumes across these brands with other new businesses? Thank you. Good. Yeah, for China. Yes, I can give you a clear yes. So we have all these successor programs in place. Except in this 5 Series, yeah, but nevertheless, we can compensate this in China with these other new customers, also from the Chinese market. So we are actively working on the Chinese market to gain here more turnover, also with new OEMs. That is- For the European market, are you seeing any customers that you can offset that declining content or declining customer mix? Sorry. Can you repeat it again? Yeah, for the explanation on the ID.4, the 5 Series and the S-Class, is this also... I guess this refers to global platforms? Yeah, yeah. The S-Class is in Europe here. And as said, so we cannot fully compensate the S-Class, for sure, but nevertheless, as Benjamin and Marcel mentioned earlier, so with such a high order intake in the last year and also in the year before, we had a high intake. We diversified more and more in other customers, and therefore, we are able to catch up and, yeah, eliminate this. Yeah. Got it. Final question for me, as we think about BMW Neue Klasse, the content, the interior is gonna be very different to the previous one. Do you have roughly the same level of content, higher or lower, actually, as we think about the next Neue Klasse vehicles coming from BMW? Yeah, to be honest, so in the Neue Klasse, we are not in, yeah. Because this is not our market. So, we are in the premium market, so, and Neue Klasse goes in direction fabrics, yeah, and lower contenting and decontenting, as you said, yeah. So that's clear. Neue Klasse is going a completely different way, what we are seeing here, yeah. Correct. But Neue Klasse is gonna be the majority of BMW's business. So BMW is gonna be, gonna decline then substantially in the proportion of revenues for you? In BMW, we see a decontenting, yes. Nevertheless, for a bigger platform or a premium platform, as the 7 Series, 5 Series, and also the X platforms, X3, X4, X5, X6, X7. So we say are still going ahead with this premium interior, and we are in all of these platforms, yeah. Understood. Understood. Super. Thank you very much. Thank you. There are no further questions at this time. I hand back to Markus Wittmann and Benjamin Retzer for any closing comments. Yeah. Thank you very much for participating this preliminary result presentation. Thank you for all your questions. Yeah, and we are looking forward to, to hear you on presenting you the Q1 in the beginning of August. Thank you. Same from my side. Thank you very much, and hear from you soon. Thank you. Ladies and gentlemen, the conference is now concluded, and you may disconnect your telephone. Thank you for joining, and have a pleasant afternoon. Goodbye.