Acerinox Sa (ACRXF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, everyone, and welcome to the Acerinox First Quarter 25 conference call. Today, the presentation will be hosted by our CEO, Bernardo Velázquez, our Chief Corporate Officer, Miguel Fernández, and our CFO, Esther Camos. After our prepared remarks, we will open the line for questions. Before getting started, let me remind you that this conference call is being broadcast on our website, atherinos.com. Now, I would like to give the floor to our CEO, Bernardo. Please go ahead. Good morning, everyone. Thank you for attending this presentation. Before I came here, I was reading the reactions in the newspapers and saying something like, I think those results are shrinking because of tariffs. This is not reflecting the reality. Steve and Miguel will explain later our financial data and why the profits are below Q1 2024. But this is not the situation. Remember, there was a correction in the market in Q4. And as expected, we started this quarter recovering gradually, recovering step by step. March was a good month in other book. Other book is in a healthy situation. And in the 2nd of April, with the announcement of the Liberation Day, with the tariffs, that created a lot of confusion. It doesn't mean that the market shrank again or that the market went down again. The market remains stable at the level of March, waiting for the news, waiting for the negotiation, and waiting for what can happen next. with the situations, supply chains, and how the tariffs will affect the different markets. What can we do in this situation, in this scenario? First of all, as we present in this slide, is control the controllables. So we have to surf these big waves, and the best way to do it is monitoring our supply chains, keeping control of our business, and keeping control of our wo...