Aperam Sa Ord (APMSF) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Aperam Second Quarter twenty twenty six Results Conference Call. I'm Iruna, the Chorus Call operator. I would like to remind you that all participants will be in listen only mode and the conference is being recorded. The presentation will be followed by a Q and A session. The conference must not be recorded for publication or broadcast. At this time, it's my pleasure to hand over to Mr. Suchivacci, CEO. Please go ahead, sir. Hi. Welcome, everyone, and thank you for joining our Q2 twenty twenty six conference call. Our presentation covering the q two performance was published earlier today in our morning podcast alongside our financial results and relevant regulatory disclosures. You know, we have always set up things this way so we can jump straight into q and a and spend more time addressing what's top of mind for you. I know it was a busy day for a lot of you, and, hopefully, our podcast family helps make that day a little bit more easier for you. Together with my colleague, Nicolas Sergio, we're looking forward to the dialogue with you now. Let's start straight away with the Q and A. Operator? The first question from the phone comes from Tristan Greza with P and P Paribas. Please go ahead. Yes, hi. Thank you for taking my questions and thank you for the slide in the presentation that shows the net margin improvement. I have some questions around that number. If you could clarify if it's related to Europe only, if it's the spread, EBITDA per ton improvement or the raw material spread improvement for H1 year to date and if it's also on a spot basis or is that already realized on the q two results? So if you, yeah, clarification on that number, that that would be great. Sure. Tristan, let me start right away by saying that because...