Elkem Asa Ord (ELKEF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning and welcome to Elkem's second quarter results presentation. My name is Objar Lyngstad and I'm responsible for investor relations in Elkem. In today's presentation, we'll go through the highlights for the second quarter and give you a market update with the outlook for the third quarter. CEO Helge Aasen will take us through this part of the presentation before CFO Morten Viga will present the financial results for the second quarter. We will open for Q&A after Helge and Morten's presentations. So with that, I will leave the word to CEO Helge Olsson. Thank you, Odger. And good morning, everyone, following this presentation. We have navigated through... a relatively weak second quarter, and we've seen downward price pressure in several of Elkem's key markets. However, the operational performance has been good, and we've had generally high utilization rates due to good cost and market positions, very much supporting the financial result. The EBITDA for the second quarter ended at 803 million NOC, which gives a margin of 10% for the group. And silicones is included in this number. If you exclude silicones... which has been reclassified as assets held for sale. The operating income was 4.3 billion NOK with an EBITDA close to 547 million. And that results in a margin of 13%. The silicon products division result is impacted by weak demand and price pressure, especially coming from Chinese imports into the EU. Carbon Solutions is also this quarter delivering a strong performance, although the EBITDA was lower than what we've seen in preceding quarters. Earlier this week, we announced that the Norwegian Ministry of Climate and Environment has concluded in favor of Elken's complaint of unequal treatment in allocation of free emission quotas under the EU environment...