Operator
Welcome to this call. [Operator Instructions] Now, I will hand the conference over to our speaker, Felicie Burelle, Chief Executive Officer. Please go ahead.
Félicie Burelle
CEO & Director
Good evening, everyone, and thank you for joining us. Today, we have announced an adjustment to our 2026 financial objectives, together with targeted measures to reinforce our competitiveness in Europe. And before taking your question, I would like to explain the rationale for this decision and place them in the broader context of our strategy because I’d like to be very clear from the outset, it doesn’t change at all the strategic direction that we have. It clearly remains unchanged, and we are fully engaged in executing this road map strategy.
So — but as you know, the transformation of the automotive industry is accelerating, and some market conditions have become more challenging than what we anticipated initially at the beginning of the year and, obviously, more recently during the third semester quarter. Therefore, we are adapting the pace of what is the execution of our road map rather than changing it. So that’s why we remain fully committed to, again, our strategic priorities.
The purpose here is to act early to anticipate this pace of change with discipline like we always do based on the clear assessment of what we believe are today the market condition in the automotive industry, but still with a clear focus on profitability, cash generation and net debt reduction. We entered