Mersen Ord (CBLNF) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

in two parts. First, a presentation by the Mersenne Management Team, represented by Luc Temelin, Group CEO, Salvador Llamas, Group CEO, and Thomas Baumgartner, Group CFO. After all, there will be a Q&A session during which you may have questions in or by clicking the green hand button on the player to ask your question orally. I will now end the call to Luc Temelin to begin today's call. Please go ahead. Thank you. I am happy to introduce this presentation for the last time. As you know, I will hand over to Salvador in less than one month. But about the quarter one, we have a positive set of results to share. It actually marks a return to quarterly organic growth with a plus 3.1% All in all reported Q1 2026 sales of 296 million euros with two main highlights Reverse to growth in the electrical power segment with organic growth of just 8.7%. Electrical power is increasingly acting as a key growth engine for the group, supported by strong structural demand around electrification, grid efficiency and data centers. Positive momentum in North America with 8.2% organic growth for the period. As far as exchange rates are concerned, we have a negative impact of 17 million euros, mainly linked to the depreciation of the US dollar and the R&D. I remind you that this does not impact our competitiveness, it is purely a commercial effect. I will now turn over to Salvador and Thomas for more details. Thank you Luc and hello everyone. So the organic growth to that 3.1% for the quarter including around 2% of price increases. If we look at our performance by geography, here are the key highlights. and being with North America, the largest area in terms of revenue with 42% of the total. So North America reported strong growth of 8.2%. This is a very solid performance driven especially...