Aperam Sa Ord (APMSF) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to Aperam Q1 podcast. I am Tim Di Maolo, Aperam CEO, and I wish you a good start of the day. Together with Sud Sivaji, Aperam CFO, I will be discussing our first quarter performance, current trading, and the outlook for the second quarter. We will host a conference call today at 2 p.m. Central European Summer Time, where we will answer your questions. The link to register for the conference call is available on our website and on the last slide of this presentation. In order to facilitate the dial-in to the call, we would ask you to pre-register for getting your personal code. The transcript of this podcast is available on our website. As always, please note, take note of the disclaimer on page two. What to say about the first quarter of 2025? Overall, it was a quarter without surprises, despite a very volatile environment. Our spending guidance and the effect we anticipated for the first quarter were fully realized. The new year has begun as the old one ended, and the situation remains challenging. The hope for a necessary and welcomed EU economy recovery has improved, but real business has not changed much so far. So we continue improving Apera. The closing of Universal took place in January. Now our value chain is even more differentiated by successfully entering the United States as well as the aerospace industry. Europe was again a very tough market and pricing pressure intensified in the course of the quarter. Seasonally higher volumes did not lend support. But what is still valid and important, we are the cost leader in Europe, which allows us to stay breakeven in difficult times. Brazil is different with Q1 being the summer holiday quarter. However, Demand was robust and we are supporting the market with the good performance of the hot rolling meal up...