Despite difficult conditions, we can look back on a solid performance in the first half of 2025. We are also pleased to have reached further milestones in implementing our strategy - in particular the announced acquisition of Sky Deutschland, the sale of RTL Nederland, and our entry into the U.S. fashion logistics business.

Bertelsmann continues to expect positive business development for the full year. We anticipate growth in revenues and operating earnings as well as Group profit of around €1.5 billion.