Max Hunger
Head of Investor Relations

Hello, everyone, and welcome. Good morning to everyone joining from the U.S. and North America, and good afternoon to everyone here in Europe. I am Max. I’m Head of Investor Relations here at innoscripta and I’m very pleased to have you all with us on this earnings call for the first half year of 2026 today. We’ve scheduled around 30 minutes for this call. [Operator Instructions]. Also, please be aware that this meeting is being recorded. Okay. With that, we are ready to get started, and I will hand over the word to our CEO, Michael Hohenester.

Michael Hohenester
Founder, CO-CEO & Chairman of the Management Board

Thank you very Max — very much, Max. Can we jump into the first slide, please? Yes. So basically, you saw the highlights already from the — from today’s press release. So basically, we have continued business operations in the second quarter and the first half year. So we see constant customer growth, constant low churn rate and let’s say, stable financial data.

Next slide, please. Some things we would like to address to give you some color about what we have reached already. So if you look at the German R&D workforce, as you know, probably R&D research and development is a pretty recurring endeavor. So that means once you do research and development, once you set up a research and development department, usually, you continue here over several years. And yes, so this is actually a pretty

Thailand is preparing a sweeping overhaul of its securities and digital‑asset laws in a bid to accelerate financial‑crime investigations and rebuild investor confidence. The Cabinet approved amendments to four key market‑regulation laws on Aug 25, signalling a shift toward more assertive enforcement .

A central change would allow the Securities and Exchange Commission (SEC) to work directly with police on probes into insider trading, stock manipulation, and corporate fraud — cases that currently take more than two years due to limited investigative capacity . SEC secretary‑general Pornanong Budsaratragoon said closer cooperation should significantly shorten investigations and respond to investor demands for tougher action against wrongdoing .

The reform push follows high‑profile scandals at Stark Corporation, which defaulted on nearly 40 billion baht after revealing accounting irregularities , and Energy Absolute, whose founder and director faced SEC allegations of fraud and corruption that triggered a sharp market reaction and bond‑payment delays . These cases have intensified calls for stronger oversight.

Beyond enforcement, the amendments aim to reinforce supervision of auditors and financial advisers, described as critical gatekeepers in preventing corporate misconduct . The proposals will now move to Parliament, with implementation expected in 2027, according to Finance Minister Ekniti Nitithanprapas

The late owner of streaming platform OnlyFans was paid more than $700m (£513m) in dividends before his death from cancer earlier this year.

Fenix International Ltd, the British company that owns OnlyFans, made $714m in profit before tax last year, it said in its annual report. This is an increase of 5% from 2024.

The site hosts a range of subscription-based content from cooking to fitness videos, but it is best known for pornography and is credited with transforming online adult content by encouraging personal connection between sex workers and subscribers.

Its owner Leonid Radvinsky, who died earlier this year aged 43, bought the site from its British founders in 2018.

OnlyFans employs just 47 people. Companies with such high profits rarely have such small staff – for example, British retail giant Marks and Spencer, which employs over 65,000 people, made £671m in profit last year.

Fenix International’s company results show that it paid dividends of $535m for the year ending 30 November 2025, with further dividends payments totalling $174m between then and 26 March 2026.

Radvinsky, who was born in Ukraine and raised in the US, died on 23 March. The company is now owned by his widow, Yekaterina ‘Katie’ Chudnovsky.

OnlyFans surged in popularity during the Covid-19 pandemic, landing Radvinsky on Forbes’ annual list of billionaires just three years later.

The site is known for the way it encourages creators and fans to connect through livestreams, personalised messages, and direct requests for custom-made photos and videos.

In return for hosting the material, OnlyFans takes a 20% share of all payments.

The site had 132 million paying subscribers and 2.5 million active creators in 2025.

The boom in size and popularity under Radvinsky’s ownership also brought scrutiny from lawmakers and regulators over its adult content — a recent BBC Three documentary uncovered allegations of exploitation, coercion and violence committed against OnlyFans creators.

In 2024, British regulators launched an investigation into whether children were accessing porn, an issue that the company at the time blamed on a technical issue.

Ofcom ultimately dropped that probe, but it fined the firm about £1m, external for failing to respond accurately to its requests for information about the measures it had in place to check the age of its users, who in theory must be 18 or over.

Creators have also debunked the narrative that making explicit videos on the site is a get-rich-quick scheme.

Keily Blair, the chief executive of OnlyFans, said on Tuesday that the company had paid over $30bn to creators since launching a decade ago.

“OnlyFans provides real opportunities to real people by creating a safe, regulated space where people can monetise their content with a global fan base,” she said.

“As a UK-based business we have also made a significant contribution to the UK economy, paying over £600 million in corporate taxes from 2016 to date.”

NEW YORK — Outage tracking service Downdetector recorded a rise in user reports of problems with Dunkin’ beginning around 12:19 p.m. EDT on Monday, with the majority of complaints centered on the mobile app, login difficulties and ordering functions.

The monitoring platform posted an update noting that user reports indicated problems with Dunkin’ and invited feedback on the impact. Breakdowns of submitted issues frequently highlighted the app as the primary point of failure, followed by login problems and a smaller share related to ordering. Such spikes on Downdetector reflect crowdsourced data rather than direct confirmation from the company and can signal anything from a widespread technical disruption to localized network issues, high traffic or problems limited to specific platforms.

Dunkin’, the American coffee and doughnut chain that rebranded from Dunkin’ Donuts in many markets, relies heavily on its mobile application for rewards programs, mobile ordering, payments and store location services. Interruptions to the app can affect customers who prefer contactless ordering, those attempting to redeem points or apply promotions, and users simply trying to check wait times or menu availability before visiting a location. Physical stores typically continue operating during digital disruptions, though some customers report longer lines when app-based orders decline.

Independent status checkers produced mixed results during the same period. Some monitoring tools registered the Dunkin’ website as reachable with normal response times, while user-generated reports on outage maps remained elevated for the app. This pattern is common when backend services supporting mobile authentication or order processing experience strain even if the public-facing website remains accessible.

No immediate public statement from Dunkin’ detailing the cause or expected duration appeared in the hours following the initial spike in reports. Companies in the quick-service restaurant sector often investigate such incidents by examining content delivery networks, authentication systems, payment gateways and third-party integrations before issuing updates through official channels or social media accounts. Resolution times vary depending on whether the issue stems from a software deployment, capacity limitation, regional connectivity problem or broader infrastructure event.

Digital ordering has become a significant channel for Dunkin’ and similar chains. Customers use the app to customize drinks, schedule pickups and earn loyalty rewards. When the application fails to load, process logins or complete transactions, many users turn to in-store ordering or competing coffee providers. The inconvenience is especially noticeable during peak morning and afternoon periods when volume is highest.

User reports of this type often surface first on social media and specialized trackers. Individuals describe symptoms ranging from complete inability to open the app, repeated login failures, spinning load screens or error messages during checkout. Some note that website ordering continues to function while the mobile experience does not, pointing to platform-specific rather than total system failures. Others report intermittent success after force-closing the app, clearing caches or switching networks.

Recovery advice commonly shared among users includes restarting the device, ensuring the latest app version is installed, attempting access via mobile data instead of Wi-Fi, or waiting for automatic restoration. Persistent problems sometimes resolve after an app update or server-side fix. Customers who experience payment charges without corresponding orders are typically advised to contact the company’s support channels with transaction details.

The Monday reports arrived without an accompanying company status page update visible in public channels at the time of the elevated complaint volume. Media coverage of similar past incidents involving coffee chains has shown that digital disruptions can generate temporary frustration even when store operations remain largely unaffected. Franchisees and corporate locations often continue serving walk-in and drive-thru customers while technical teams address backend issues.

Dunkin’s app serves as a key loyalty and convenience tool across thousands of locations in the United States and internationally. Features such as order-ahead, rewards tracking and personalized offers depend on stable connections between the mobile client, authentication services and store systems. Any disruption that interrupts that chain can reduce the volume of digital orders and increase reliance on traditional counter service.

Outage trackers such as Downdetector aggregate reports in real time and display percentages by problem type. For Dunkin’, the concentration of submissions around the app and login categories during the elevated period provided an early indicator that mobile functionality was the primary pain point. Geographic heat maps, when available, can further clarify whether issues are concentrated in particular regions or more broadly distributed.

In the broader context of quick-service digital platforms, Monday’s reports fit a familiar pattern: a noticeable uptick in user submissions, public discussion on tracking sites, and a period of uncertainty until either the problem resolves or the company provides clarification. Similar spikes have occurred across the restaurant and retail sector when high-traffic periods coincide with software updates or infrastructure strain.

Customers seeking coffee or baked goods during such episodes often adapt by visiting stores in person, using alternative ordering methods if available, or choosing other brands temporarily. The combination of mobile dependency and high concurrent usage makes these platforms sensitive to performance variations. Ongoing investments in system redundancy and monitoring aim to reduce both the frequency and duration of disruptions.

As of the latest available user reports, the elevated complaint volume on Downdetector began in the early afternoon Eastern time and prompted the service to flag potential problems. Whether the underlying cause was a brief technical glitch, a capacity constraint or an issue limited to specific user segments remained unclear without further official information.

The episode illustrates the dual nature of modern restaurant operations. Traditional in-store service continues to form the core experience, while digital channels expand convenience and personalization. Maintaining consistent performance across both environments requires ongoing attention to capacity, testing and rapid response capabilities.

Viewers and customers monitoring the situation typically look for official updates via the company’s website, app notifications or verified social accounts. In the absence of an immediate statement, the volume and type of user reports on independent trackers remain the most accessible public measure of service health. Subsequent monitoring determines whether reports subside quickly or persist long enough to warrant a formal explanation.

For now, the combination of elevated Downdetector submissions focused on the app, the lack of an official company confirmation at the time of the spike, and the continuation of physical store operations defines the scope of the reported disruption. Customers experiencing issues are directed toward basic troubleshooting steps while technical teams work to restore full mobile functionality.

CHICAGO — Specialty baker Sweetmore Bakeries has acquired Fantasy Baking Co., a Sylmar, Calif.-based manufacturer of private label and branded sweet baked foods.

Financial terms of the transaction, announced Aug. 25, weren’t disclosed. Sweetmore said Fantasy Baking’s product roster includes cookies, fruit-filled bars and dessert bars and extends into protein and breakfast bars, dry blends, and ice cream ingredients and inclusions, along with organic, high-protein, non-GMO, gluten-free, and kosher recipes and solutions.

Chicago-based Sweetmore said the acquisition marks its sixth production facility and first on the West Coast, expanding its manufacturing footprint to cover the Northeast, Midwest, Southeast, Southwest and West and bolstering its position in the cookie and baked bar categories.

“Fantasy Baking gives us a true West Coast manufacturing footprint and deeper category capabilities that strengthen our ability to serve customers’ various product needs nationwide,” said David Veenstra, chief executive officer of Sweetmore Bakeries. “Between their R&D bench strength and their reach into better-for-you trends, this addition makes Sweetmore an even stronger strategic national partner.”

Launched in 1979, Fantasy Baking brings more than four decades of formulation expertise, supported by its own in-house R&D lab, Sweetmore said, adding Fantasy’s products and capabilities are well-aligned with better-for-you and functional snacking trends.

“For over 45 years, the Fantasy Baking team has built our business on doing right by our customers — innovation, quality and service our partners can rely on,” said Russ Case, CEO of Fantasy Baking. “Joining a like-minded partner like Sweetmore allows us to continue this tradition while providing access to scale and resources that will enable Fantasy to serve a broader audience and expand its capabilities.”

Now through six bakery divisions, and with about 500 employees, Sweetmore produces baked foods — ranging from biscotti, brownies, cinnamon rolls, cookies and danishes to dessert bars, Mexican pan dulce, muffins, granola, baked bars, icings and fillings — for the retail in-store bakery and foodservice channels nationwide.

The company started in 2019 when private equity firm Shore Capital Partners recapitalized and boosted investment in Main Street Gourmet, an Akron, Ohio-based wholesale baker supplying in-store bakeries, restaurants, warehouse clubs and convenience stores. Shore Capital then began a series of acquisitions that included Greensburg, Pa.-based specialty wholesale bakery Biscotti Brothers (serving in-store bakeries) in November 2020 and Fond du Lac, Wis.-based premium pastry maker Meurer Brothers Bakery (serving in-store bakeries) in November 2021, with the three bakeries uniting under the Sweetmore Bakeries banner in mid-2022.

That was followed by the purchases of Smyrna, Ga.-based wholesale cinnamon roll manufacturer Sweet Eddie’s (serving retail and foodservice channels) in May 2024 and Phoenix-based Azteca Bakeries, a wholesale manufacturer of Mexican pastries and baked foods, in January 2025. Then in May 2025, Chicago-based Shore Capital recapitalized Sweetmore through a special purpose vehicle to support further growth.