Unknown Executive
Welcome to our pre-close catch-up for Q2 fiscal year 2026, which was recorded on March 23, 2026. This content will neither be amended nor updated at any time. With this Q2 episode of our pre-close catch-up, we aim at having everyone on the same page regarding our upcoming Q2 fiscal year 2026 before we go into silent period.
We sum up and repeat relevant topics, which were communicated in public as potentially relevant for the upcoming quarter and address current macro topics, for example, foreign exchange.
Obviously, we are before closing and therefore, have no indications on our Q2 actuals with the quarter ending on March 31. And before we start with this episode, let me remind you of the safe harbor statement on our website for this recording. I’ll start with some comments on the translational foreign exchange impacts on revenue. As you know, we always refer to organic revenue growth numbers. As usual, we try to triangulate the translational impact from the latest foreign exchange movements to align the absolute revenue and organic growth numbers in the models.
In Q1, we saw a translational headwind of around 5%. In Q2, the U.S. dollar was on average weaker than in Q1. At the same time in prior year, Q2, the dollar was the strongest during the last fiscal year. So it would be fair to assume that the translational headwind in Q2 will be more than the 5% headwind in Q1.
This brings me to the 2 major headwinds on adjusted EBIT in fiscal year 2026, foreign exchange and tariffs. Foreign exchange. We assume a headwind of around EUR 0.15 on EPS incrementally compared
