Full Year 2025 Gemfields Group Ltd Earnings Call Transcript
Good morning and welcome to Gemfields 2025 full year results shareholder and investor webcast. Sean Gilbertson, CEO and David Lovett, CFO will present Gemfields financial results. At the end of the presentation, we will go into a Q&A. If you'd like to ask a question, please write it in via the webcast page by clicking the ask a question button. Before we start, please take a note of the important information in our disclaimer on slide 2, with the full disclaimer in the appendix.
And with that, I'm going to pass you on to Sean.
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Thank you very much, Heinrich. Good morning and welcome. Thank you for your time and interest in what was an extremely difficult year for Gemfields. Ignoring the COVID year of 2020, 2025 saw us deliver our weakest annual auction revenues since 2013, more than a decade. And only 41% of the peak auction revenues,
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