Befesa S.A. (0RVK) Q1 2025 Earnings Call

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WEBVTT 00:00:01.398 -- 00:00:07.205 Good morning and welcome to the first quarter 2095 results conference call of BEFESA. 00:00:07.205 -- 00:00:12.351 I am Rafael Perez, CFO of BEFESA and this morning I'm joined by our group CEO, Asier 00:00:12.351 -- 00:00:13.873 Zarraonandia. 00:00:13.873 -- 00:00:18.078 Asier will start with an executive summary of the period and then he will cover the business 00:00:18.078 -- 00:00:23.445 highlights for the steel dust as well as aluminum salt slag recycling business. 00:00:23.445 -- 00:00:27.790 I will then review the financials by business and will cover the evolution of commodity 00:00:27.790 -- 00:00:33.794 prices, our hedging program, And finally, cash flow, net debt, and capital allocation. 00:00:33.794 -- 00:00:39.081 Here, we'll close this presentation providing an update on the outlook for 2025 00:00:39.081 -- 00:00:44.808 and an update of our growth plan. Finally, we will open the lines for the Q&A session. 00:00:44.808 -- 00:00:48.993 Before getting started, let me remind you that this conference call is being webcasted 00:00:48.993 -- 00:00:55.021 live. You can find the link to the webcast and the first quarter 2025 results presentation 00:00:55.021 -- 00:00:58.483 on our website, www.befeza.com. 00:00:59.414 -- 00:01:02.919 Let me turn the call over to our CEO. Asier, please. 00:01:02.919 -- 00:01:08.386 Thank you, Rafa. We're moving to page five of the business highlights. 00:01:08.386 -- 00:01:14.034 Befesa has delivered a strong first quarter result despite a challenging macroeconomic 00:01:14.034 -- 00:01:15.716 environment, 00:01:15.716 -- 00:01:20.443 which demonstrates the resiliency of our business model. 00:01:20.443 -- 00:01:25.970 Total adjusted BDA in this quarter has been 56 million euros, up 15% 00:01:25...