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Welcome to our pre-close catch-up for Q3 fiscal year 2026, which was recorded on June 22, 2026. Its content will neither be amended nor updated at any time. With this Q3 episode of our pre-close catch-up, we aim at having everyone on the same page regarding our upcoming Q3 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 Q3 actuals with the quarter ending on June 30.

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 usual, we try to triangulate the transactional impact from the latest foreign exchange movements to align the absolute revenue and organic growth numbers in the models. Let me quote our CFO on translation impact in Q3.

“We see the year-over-year translation headwind easing in Q3 compared to Q2 as we will be going against an already weaker U.S. dollar from prior year.”

In Q2, we saw a translational headwind of around 7%. In Q3, we expect this to become significantly less negative since in prior year Q3, the U.S. dollar became weaker. However, we still expect a year-over-year weaker U.S. dollar in Q3. Assuming that on average, in Q3, the U.S. dollar would be around 3% to 4% weaker than in prior year quarter and assuming for simplification purposes, only 50% U.S. dollar exposure, this would mean roughly a translational headwind of 1 to 2 percentage

Ryanair will “reluctantly” allow parents to sit with their children for free after an investigation into the practice was opened, bringing the airline in line with European industry standards.

Previously, Europe’s largest airline by passenger numbers charged a fee—typically $10.70 each way per adult—to allow up to four children aged 2 to 11 to sit next to an accompanying adult. Moving forward, families who do not pay to reserve seats will be allocated random seats together for free after check-in, likely toward the rear of the plane, Reuters reported.

THREE RYANAIR PASSENGERS REMOVED FROM FLIGHT AFTER BRAWL ERUPTS: VIDEO

Ryanair Boeing 737 MAX aircraft flying on final approach. On Friday, the budget carrier said it would allow parents to sit with their children for free. (Photo by Nicolas Economou/NurPhoto via Getty Images / Getty Images)

“We will reluctantly adjust to this industry standard as we don’t want to waste time explaining to misguided regulators how badly they misunderstand what is in the best interest of UK and Europe’s consumers,” Ryanair CEO Michael O’Leary said in a statement.

The Ireland-based budget carrier’s shift came after the Competition and Markets Authority (CMA) launched an inquiry into whether the original policy violated consumer law.

PASSENGERS SETTLE MASSIVE LAWSUIT WITH ALASKA AIRLINES AND BOEING AFTER MIDFLIGHT DOOR PLUG FAILURE

Ryanair CEO Michael O’Leary said the company will “reluctantly adjust to this industry standard.” (Fernando Sanchez/Europa Press via Getty Images / Getty Images)

A CMA spokesperson said the agency will test whether the new policy complies with the law. While they noted the change would be “a win for families,” they added that the investigation remains ongoing.

“It doesn’t change the fact that families have been paying for ‘mandatory family seats,’” the spokesperson said.

A Ryanair Boeing 737 MAX 8 passenger airliner comes in to land at Stansted Airport in Essex. (Nicholas T. Ansell/PA Images via Getty Images / Getty Images)

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FOX Business has reached out to the CMA for comment.

SEATTLE — Mohamed Salah’s Egypt will look to confirm a place in the World Cup knockout stage for the first time in 92 years when the Pharaohs face Iran on Friday night, in a Group G finale that carries history-making stakes for both nations.

The match kicks off at Lumen Field in Seattle, with Egypt entering as the clear favorite after becoming the only team in Group G to register a win through the first two rounds of fixtures.

Egypt in control of its own destiny

Egypt’s path to this point has been built on resilience rather than dominance. The team opened the tournament with a 1-1 draw against Belgium, before coming back from a goal down to beat New Zealand 3-1 in its second match — a result that marked the program’s first World Cup win since its 1934 debut. Egypt is in full control of its own destiny, having beaten New Zealand 3-1, with Mo Salah central to that win, recording a goal and an assist.

The stakes for Friday’s match are layered, though Egypt has more paths to advancement than its opponent. A draw will be enough for Egypt to confirm qualification for the round of 32, as that result would put the team out of reach of both Iran and New Zealand. Egypt could even top the group with a draw, provided Belgium doesn’t beat New Zealand by more than two goals, while a win would confirm Egypt as outright group winners.

Opta’s data models reflect Egypt’s strong position heading into kickoff. According to Opta’s supercomputer, Egypt is given a 44.1% probability of winning the fixture, with Iran assessed a 24.6% chance and a 31.3% probability of a draw. Overall, Egypt is favored to finish atop Group G with a 62.51% probability.

A personal milestone in sight for Salah

Beyond the team’s broader ambitions, Friday’s match carries personal significance for Egypt’s biggest star. Salah is one goal away from becoming Egypt’s joint all-time top scorer, a record currently held by 69 goals — a tally belonging to his own manager. Hossam Hassan, who played for Egypt between 1985 and 2006, now serves as the national team’s head coach.

Hassan has been careful to manage the weight of expectation surrounding his star forward. “We do not put everything on one star or two stars and just bet that they will bring it for us,” Hassan said, addressing the pressure on the 34-year-old forward.

The Egyptian coach also pointed to a tactical shift that has unlocked a different dimension of Salah’s game this tournament. “I think it’s a new version of Mo Salah at the moment,” Hassan said. “He plays in a new position — he plays very freely in a very creative way.”

For Salah personally, qualification would represent a landmark moment regardless of whether he reaches the scoring milestone. According to Egyptian football officials, the forward has described reaching the knockout stage as potentially “the greatest achievement” in his nation’s football history.

Iran navigating unprecedented circumstances

While Egypt’s path has been relatively straightforward, Iran’s World Cup campaign has unfolded against an extraordinary geopolitical backdrop. Iran enters Friday’s match with two points from back-to-back draws — a 2-2 result against New Zealand and a 0-0 stalemate against Belgium — achieved while dealing with travel restrictions tied to the war the United States and Israel launched against Iran in late February.

Those restrictions have directly affected the team’s preparation and recovery between matches. For its first two group games, Iran was permitted to travel to its U.S. playing venues only within 24 hours of kickoff, requiring the squad to return to its training base in Tijuana, Mexico, immediately after each match.

Conditions have eased somewhat ahead of the Egypt match, though not without continued friction. Iran’s football federation said that officials had “caused problems” when the team traveled from its Mexican base for Friday’s contest, even as broader travel restrictions were loosened for this final group match.

Iran coach Amir Ghalenoei addressed the toll the situation has taken on his squad, while striking an optimistic tone ahead of kickoff. “We are now fitter and also we are in a better position,” Ghalenoei said Thursday, acknowledging that the restrictions had “physically affected us” during the team’s earlier matches.

Ghalenoei also emphasized that his team’s focus remains squarely on football, even as the match has become entangled in unrelated controversy. “We are going to be positive,” Ghalenoei said. “We are not going to think about any other issues … we seek to bring joy to our people.” The Iranian coach declined to be drawn into questions about Pride-related celebrations planned around the match in Seattle.

A contest with layered storylines

Friday’s match has drawn attention beyond the pitch after Seattle’s local Pride celebration committee designated the date for recognition events, prompting formal objections from both the Egyptian and Iranian football federations, in countries where homosexuality is criminalized. FIFA has maintained there is no officially designated “Pride Match” associated with the tournament, while confirming that fans will not be barred from displaying rainbow flags inside the stadium.

What’s needed for Iran

For Iran, the path to the knockout stage is simpler in description than execution: a victory over Egypt would put the team into the round of 32 for the first time in its eighth World Cup appearance, while anything less would leave its fate dependent on results elsewhere in the group and the broader battle for the tournament’s eight best third-placed finishers.

Kickoff details

Egypt and Iran are scheduled to kick off Friday at 8 p.m. local time in Seattle, 11 p.m. Eastern time, with the match airing in the United States on FOX, FOX One, and Telemundo platforms. Coverage in Egypt is scheduled for early Saturday morning local time, while viewers in Iran can follow the match via IRIB TV3 and other domestic broadcasters.

With Salah chasing history on an individual level and Egypt on the verge of a national breakthrough, Friday’s match in Seattle carries the kind of dual significance rarely found in a final group-stage fixture — one in which both nations have already exceeded expectations simply by arriving at this point with a genuine chance to advance.