Mersen Ord (CBLNF) Q3 2025 Earnings Call

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WEBVTT 00:00:03.583 -- 00:00:07.985 Welcome to the conference call on Mersenne's Q3 sales presented by Mr. 00:00:07.985 -- 00:00:14.026 Luc Timlin, Chief Executive Officer and Thomas Baumgartner, CFO. 00:00:14.227 -- 00:00:19.469 Participants will be on listen mode only first during the Q&A. 00:00:19.469 -- 00:00:24.651 You will have the opportunity to ask questions in writing using the chat below the audio 00:00:24.651 -- 00:00:30.405 player or ask your questions directly by dialing the pound sign plus five on your phone. 00:00:30.405 -- 00:00:33.847 I will now hand over to the speakers. 00:00:34.549 -- 00:00:36.970 Bonjour à tous. 00:00:37.332 -- 00:00:43.877 Hello everyone and welcome to this conference on Mersenne's sales for Q3 2025. 00:00:44.121 -- 00:00:49.285 We posted sales of 285 million euros for the quarter, representing an 00:00:49.285 -- 00:00:54.309 organic growth of minus 4.3%, which is in line with what we saw in the first 00:00:54.309 -- 00:00:59.933 half of the year. This brings revenue for the first nine months to 895 million, 00:00:59.933 -- 00:01:05.017 representing organic growth of minus 4.1%, which is in line with 00:01:05.017 -- 00:01:09.539 the minus 4% reported at the end of June. 00:01:09.568 -- 00:01:14.771 We saw contrasted trends in our markets in Q3, strong 00:01:14.771 -- 00:01:20.233 growth, meaning double digit in rail, wind and power electronic markets, 00:01:20.233 -- 00:01:25.216 recovery in the silicon semiconductor markets, 00:01:25.216 -- 00:01:31.038 low level compared to last year in SIC semiconductors, and finally, contrary to 00:01:31.038 -- 00:01:36.341 our expectations, we did not see a positive turnaround in the solar market during 00:01:36.341 -- 00:01:42.104 this quarter. For this reason, we've adjusted our targets f...