Mersen Ord (CBLNF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the conference call on Mersenne's Q3 sales presented by Mr. Luc Timlin, Chief Executive Officer and Thomas Baumgartner, CFO. Participants will be on listen mode only first during the Q&A. You will have the opportunity to ask questions in writing using the chat below the audio player or ask your questions directly by dialing the pound sign plus five on your phone. I will now hand over to the speakers. Bonjour à tous. Hello everyone and welcome to this conference on Mersenne's sales for Q3 2025. We posted sales of 285 million euros for the quarter, representing an organic growth of minus 4.3%, which is in line with what we saw in the first half of the year. This brings revenue for the first nine months to 895 million, representing organic growth of minus 4.1%, which is in line with the minus 4% reported at the end of June. We saw contrasted trends in our markets in Q3, strong growth, meaning double digit in rail, wind and power electronic markets, recovery in the silicon semiconductor markets, low level compared to last year in SIC semiconductors, and finally, contrary to our expectations, we did not see a positive turnaround in the solar market during this quarter. For this reason, we've adjusted our targets for 25 to the lower end for organic growth and EBITDA margin. We've also revised our investment plans downwards, and we're maintaining our current operating margin target. I will come back in greater detail to this at the end of the presentation. Without further ado, over to Thomas, who is going to give us a more detailed review of sales. Hello, Luke, and hello, everyone. I will start by commenting The nine months sales before we focus on Q3. Revenue for the first nine months of the year amounted to 895 million euros, as Luke said. The scope impact corr...