We had a very strong first half year. In the first six months of 2026, Bertelsmann achieved organic growth of more than 5 percent. We also reached two strategic milestones with RTL's completion of the acquisition of Sky Deutschland and the imminent combination of BMG and Concord.

Given the positive business performance in the first half of the year, and taking into account the acquisition of Sky Deutschland as of June 1, 2026, and the expected completion of the transaction to combine BMG and Concord in the third quarter of 2026, we are raising our outlook for the 2026 financial year. Bertelsmann now expects strong revenue growth and significant growth in Operating EBITDA adjusted.