Acerinox Sa (ACRXF) Q3 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.456 Good morning to you all, and welcome to Atherinox's third quarter 2025 results 00:00:05.456 -- 00:00:07.456 presentation. 00:00:08.059 -- 00:00:13.545 As you well know, geopolitical uncertainties, regional conflicts, and tariff wars 00:00:13.545 -- 00:00:16.568 continue to affect world markets. 00:00:16.568 -- 00:00:20.592 Consequently, the third quarter has been another challenging quarter. 00:00:20.592 -- 00:00:25.397 However, as a group, we have demonstrated our resilience in the light of the difficult 00:00:25.397 -- 00:00:27.817 market situation. 00:00:27.858 -- 00:00:33.106 As we will explain in this presentation, we continue to focus on working capital reduction 00:00:33.106 -- 00:00:35.770 and solid cash generation. 00:00:35.770 -- 00:00:40.497 During this call, we will hear from our CEO, Bernardo Velazquez, our chief corporate 00:00:40.497 -- 00:00:44.383 officer, Miguel Fernandez, and also Esther Camoz, 00:00:44.383 -- 00:00:50.285 our CFO, who will explain our third quarter results and provide outlook for Q4. 00:00:50.285 -- 00:00:54.777 Before we start the presentation, let me remind you that this conference call is being 00:00:54.777 -- 00:00:58.588 broadcast on our website, atherinox.com. 00:00:58.588 -- 00:01:03.548 And now I'll hand you over to our CEO. Bernardo, please go ahead. 00:01:03.548 -- 00:01:08.835 Thank you, Carlos. Good morning, everyone, and thank you for attending this presentation. 00:01:08.835 -- 00:01:13.902 We have released this set of results in the lowest part of a long 00:01:13.902 -- 00:01:19.609 cycle that is basically defined by the geopolitical conflicts, 00:01:19.609 -- 00:01:21.011 tariffs, 00:01:21.011 -- 00:01:26.779 negotiations, and uncertainty. If something can define this part of the...