1. Opening Markus: Carla, thank you for joining us in Zurich. We’ve been following your company’s numbers ____. Could you ____ your latest results? Carla: Of course. In Q2 we ____ a ____ improvement. We ____ an EBITDA ____ USD 82 million, which ____ a 12% increase year-on-year. 2. Drivers of Performance Sophie: What were the main ____ that ____ EBITDA this quarter? Carla: Operational ____ helped us ____ our EBITDA margin ____ nearly 180 basis points. At the same time, the new pricing strategy ____ EBITDA across our consumer segment. Markus: Did inflation ____ EBITDA at all? Carla: It did pressure EBITDA in Q1, but cost controls allowed us to ____ most of the gains. 3. Outlook / Forecasting Markus: And ____, how do you ____ EBITDA for 2026? Investors are trying to understand the impact of Milei’s reforms. Carla: We project a gradual recovery in EBITDA, assuming the macro ____. If the currency plan works, we ____ EBITDA to ____ in the high single digits next year. Sophie: Are you confident you can ____ your EBITDA ____ Carla: Yes, as long as logistics costs don’t spike again. If they do, they could ____ EBITDA temporarily. 5. Closing Markus: Thank you, Carla. This gives us a clearer ____ of the fundamentals. We ____ the transparency. Carla: My pleasure. If you need a ____ I can walk you ____ the full EBITDA model later.

Discussing EBITDA - Key language

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