Our Consumer sales in the 2nd quarter shows a clear acceleration in Western Europe, in a year particularly rich in product launches, and a confirmed return to growth in Asia, especially in China.

The Professional business also recovered in the 2nd quarter, in line with our expectations, after three quarters of significant decline.

This positive trend, however, contrasts with the situation in North America, where significant uncertainty surrounding tariffs has led to a marked wait-and-see attitude among retailers, weighing on our performance in the region.

The results for the 1st half of the year, which are down, reflect this more deteriorated environment in the 2nd quarter, with direct effects on the North American market, but also indirect impacts, and particularly related to strong currency volatility.

In this context, and in light of the 1st half performance and the ongoing uncertainties, we are revising our annual outlook. However, the Group’s fundamentals remain solid; in the 2nd half of the year, which is traditionally more contributive to profits, we anticipate improvement in both the Consumer and Professional businesses, along with a rebound in results, thereby returning to a trajectory more in line with our medium-term ambition.