In the first half of 2026, the Fielmann Group once again demonstrated the resilience of its business model in a challenging market environment. While growth in Germany remained temporarily subdued, the Group benefited from its diversified country portfolio as strong momentum across international markets supported the overall growth of the Group. The US business made further progress during the first half of 2026. Growth in local currency accelerated, supported by continued investments in the platform, operational improvements and expanding doctor capacity. In addition, foreign exchange headwinds eased in Q2 compared to Q1. Macroeconomic conditions varied across the Group's markets. While subdued consumer sentiment continued to weigh on Germany, economic conditions in several international markets remained more supportive. Against this backdrop, the Group maintained a robust profitability profile, reflecting its disciplined cost management while investing in its long-term growth ambitions. Looking ahead, the Fielmann Group is well positioned for stronger growth in the second half of the year. New store openings, productivity initiatives and targeted hiring are expected to expand the Group's capacity to serve more customers and support the continued execution of Vision 2035.