Elkem Asa Ord (ELKEF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello and good morning and a very warm welcome to LKM's third quarter results presentation. My name is Oddje Lyngstad and I'm responsible for investor relations in LKM. In today's presentation, we will go through the highlights for the quarter and give an update on the markets before we go through the outlook for the fourth quarter. CEO Helge Aasen will take us through this first part of the presentation before CFO Morten Viga will present the third quarter results in more detail. We will open for Q&A after Helge and Morten's presentations. So with that, I give the word to CEO Helge Aasen. Thank you, and good morning, everyone. Very nice to see the turn up today. Yeah, we seem to be repeating ourselves when it comes to describing the markets we operate in. The story about the weak and challenging conditions doesn't seem to go away. And the market does actually remain much the same as it has been for a while now. However, despite the challenging macroeconomic environment, Alchem's results are relatively good, but of course below our financial targets. The EBITDA for the third, I'm sorry, the EBITDA for the Third quarter ended at $829 million, which gave an EBTA margin of 11% for the group. If you exclude silicones, the operating income ended at $4.1 billion, with an EBTA of $586 million, which then represents a margin of 14%. This result is to a great extent explained by good operational performance and ongoing cost improvements. Silicon products was impacted by low silicon and ferrosilicon prices in the third quarter, but specialty segments as foundry alloys. and micro-silica, which is a silica powder, delivered improved results. Carbon solutions continue to deliver good margins, but the operating income and the following EBITDA is impacted by the lower sales. Silico...