Eramet Sa Unsp/Adr (ERMAY) Q2 2024 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Aramath first half 2024 resource presentation. I now hand over to Christelle Bory, Chair and CEO of Aramath. Good morning, everyone. And thanks for being with us this morning for our half year result presentation. I will start with the introduction and then We will review the financial performance and operational performance, and Nicolas Carré, our CFO, will take care of this presentation, and I'll come back with an update on the strategic roadmap and the conclusion. So starting with some words of introduction, we delivered a good operational performance in the first half of the year. with normal operating conditions in Gabon, a strong increase in production in Indonesia, and mining and grade optimization everywhere. In terms of financials, our intrinsic progress driven by organic growth and productivity has enabled us to weather a challenging pricing environment and to continue to invest for the group's future growth with a limited impact on net debt. We have also taken a decisive step in our development in energy transition method strategy with the commissioning of our first lithium plant in Argentina. Production will start in November, and this growth driver will fully contribute to the group's performance from 2025. And last but not least, we have started to deploy our new CSR roadmap, Ask for Positive Mining, with the first new steps, particularly in terms of employee social protection. If we move to the financials, some words on them. The environment in terms of pricing has been continuously depressed over the semester. We delivered an adjusted EBITDA of 247 million euros, including a strongly negative contribution of SLN of 109 million, and we managed to deliver that thanks to a good intrinsic performance. This intrinsic performance of 216 milli...