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

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Replay transcript excerpt

WEBVTT 00:00:00.158 -- 00:00:05.603 Good morning everyone and thank you for joining us for our H1 results. 00:00:05.603 -- 00:00:10.647 I know it's a busy time for most of you with 00:00:10.647 -- 00:00:15.391 a lot of half-year results being published today. 00:00:15.391 -- 00:00:20.715 So thanks for being with us and I'm pleased to present you 00:00:20.715 -- 00:00:25.777 What we think are very encouraging results versus the situation that 00:00:25.777 -- 00:00:29.638 we had only six months ago. 00:00:30.319 -- 00:00:36.182 2025, as you know, proved to be a challenging year for Eramet in many respects. 00:00:36.182 -- 00:00:41.264 And in H1, I think we have demonstrated that we brought back the 00:00:41.264 -- 00:00:43.825 situation under control. 00:00:43.825 -- 00:00:48.826 And despite challenging events at some of our key operations, and 00:00:48.826 -- 00:00:52.048 especially in Senegal and in Ouedabé, 00:00:52.048 -- 00:00:57.249 H1 showed very solid and concrete progress across 00:00:57.249 -- 00:01:02.291 the group, demonstrating that the management team is fully operational 00:01:02.291 -- 00:01:05.812 and clearly focused on execution. 00:01:05.815 -- 00:01:11.056 We deliver stronger operational performance, which translated into a 45% 00:01:11.056 -- 00:01:16.098 increase in our adjusted EBITDA, our adjusted free cash flow 00:01:16.098 -- 00:01:21.219 return to positive territory, despite our traditional seasonality 00:01:21.219 -- 00:01:25.260 in H1. And we have then stabilized our debt. 00:01:25.260 -- 00:01:30.461 And while further balance sheet strengthening is still needed, the funding 00:01:30.461 -- 00:01:34.222 plan is progressing according to schedule. 00:01:34.222 -- 00:01:36.063 So 00:01:36.063 -- 00:01:41.565 today I will first take you through...