Eramet Sa Unsp/Adr (ERMAY) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everyone and thank you for joining us for our H1 results. I know it's a busy time for most of you with a lot of half-year results being published today. So thanks for being with us and I'm pleased to present you What we think are very encouraging results versus the situation that we had only six months ago. 2025, as you know, proved to be a challenging year for Eramet in many respects. And in H1, I think we have demonstrated that we brought back the situation under control. And despite challenging events at some of our key operations, and especially in Senegal and in Ouedabé, H1 showed very solid and concrete progress across the group, demonstrating that the management team is fully operational and clearly focused on execution. We deliver stronger operational performance, which translated into a 45% increase in our adjusted EBITDA, our adjusted free cash flow return to positive territory, despite our traditional seasonality in H1. And we have then stabilized our debt. And while further balance sheet strengthening is still needed, the funding plan is progressing according to schedule. So today I will first take you through the main operational and strategic highlights in an introduction. Then I will hand over to our CFO, Simon Henochsberg, who will then present the H1 financial results, the operating performance. Then we'll move to the funding plan, and we'll finish with outlook and guidance. So a few words in introduction. Of course, safety first. It's always our top priority. Our safety results have improved increasingly in the past years at the group level. And we are still improving this year, both on lagging and leading indicators, by the way. The group injury frequency rate Keeps improving. It stands at 0.5 in H1 2026, which is good. However, this p...