Lenzing Ag Ord (LNZNF) Q1 2025 Earnings Call

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WEBVTT 00:00:00.942 -- 00:00:06.648 Thank you, Carmen. Ladies and gentlemen, welcome to the presentation of Lenzing's results 00:00:06.648 -- 00:00:09.411 of the first quarter 2025. 00:00:09.411 -- 00:00:14.094 With me today, as usual, is Nico Reiner, our CFO. 00:00:14.597 -- 00:00:18.619 Let's start with an overview of the key developments. 00:00:19.182 -- 00:00:25.008 Revenue and EBITDA continue to improve, also in the first quarter of this year, 00:00:25.008 -- 00:00:29.427 in a market environment that remains still challenging. 00:00:29.427 -- 00:00:35.195 Our revenue reached 690 million euros, an increase of 5% compared 00:00:35.195 -- 00:00:38.020 to the first quarter last year. 00:00:38.020 -- 00:00:43.988 EBITDA more than doubled compared to the first quarter 2024 and reached 156 00:00:43.988 -- 00:00:48.395 million euros with an EBITDA margin increasing from 11 to 23%. 00:00:48.395 -- 00:00:50.715 Free cash 00:00:51.239 -- 00:00:54.604 flow was back to positive in the first quarter. 00:00:54.604 -- 00:00:59.694 However, not on the very high level we have seen in quarter one of 2024. 00:00:59.694 -- 00:01:01.694 Overall, 00:01:01.857 -- 00:01:06.864 our performance continues to show very positive developments despite 00:01:06.864 -- 00:01:10.265 the lack of market recovery. 00:01:13.513 -- 00:01:19.160 As I said, the markets remain challenging also in the beginning of 2025. 00:01:19.160 -- 00:01:24.087 Since the inauguration of Donald Trump and his first tariff announcements, market uncertainty 00:01:24.087 -- 00:01:26.414 has clearly increased 00:01:26.414 -- 00:01:31.462 However, the direct impact on the first quarter 2025 was still 00:01:31.462 -- 00:01:36.650 relatively limited, as the measures intensified in the beginning of the second 00:01:36.650 -- 00...