Befesa S.A. (0RVK) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning, and welcome to the first half of twenty twenty six results conference call of Befesa. I am Rafael Perez, CFO of Befesa. And this morning, I'm joined by our group CEO, Assier Saravanandia. Assier will start with an executive summary of the period, and then he will cover the business highlights of the steel dust as well as aluminum salt slag recycling businesses. I will then review the first half financials by business and cover the evolution of commodity prices, hedging program and finally, cash flow, net debt leverage and capital allocation. Assier will close the presentation providing an update of the outlook for the rest of 2026 and an update of our growth plan. Finally, we will open the line for the Q and A session. Before getting started, let me remind you that this conference call is being webcast live. You can find the link to this webcast on our website. Now let me turn this call over to our CEO, Achille Pris. Thank you, Rafa. Good morning, all. Moving to Page five of the financial and business highlights. Befesa has delivered strong second quarter results, resulting in a remarkable first half results with solid volume growth, especially from our operations in The U. S. Total adjusted EBITDA in this half has been EUR 124,000,000, up 11% compared to the same period last year, reflecting a strong performance driven by solid volume and a favorable development of the zinc LME price, especially during the second quarter. EBITDA margin of the group has significantly improved to 22% in Q2 twenty twenty six versus 19% in the second quarter of twenty twenty five. The deleveraging trend continued with financial leverage that yields to 2.18 in June 2026 compared to 2.7% in June 2025. The increase in net income and EPS of $0.13 per share year on year reflect...