OC Oerlikon Corporation AG (0QO3) Q3 2023 Earnings Call

Investor webinar replay

Replay transcript excerpt

Ladies and gentlemen, welcome to the Erlikon Q3 2023 Results Conference Call and Live Webcast. I'm Sascha, the Caller's Call Operator. At this time, it is my pleasure to hand over to Stefan Gieck, Head of Investor Relations. Please go ahead. Good morning, ladies and gentlemen, and welcome to Erlikon's Q3 Results Call. With me in the call, I have Philipp Müller, CFO of Erlikon. Philipp will start the call with a presentation providing an update on our end markets, financials, and guidance. We will then follow up with Q&A. With that, I would like to open our presentation and hand over to Philipp. The floor is yours. Thank you, Stefan. Good morning, everyone, and welcome to our third quarter results presentation. In Q3, we continue to execute our strategic objectives and successfully drove forward technical innovation and the integration of REERI. We are doing this in a difficult economic environment as industrial production and consumer spending continue to be subdued and currency headwinds persist. I will start the presentation with an overview of the group results, followed by an update on our end markets, the divisional results, and I'll conclude with our outlook. At the group level, orders were 567 million Swiss francs. Polymer Processing Solutions customers continued to delay their investment decisions. In Surface Solutions, orders were up 3% organically. Group sales decreased 11% at ConstantFX to 623 million Swiss francs. This includes a 5% contribution from our acquisition of REERI. In Surface Solutions, We achieved a slight FX adjusted organic sales increase in Q3 and a solid 7% growth in the first nine months of the year. This was more than offset by the declines in polymer processing solutions. Operational EBITDA was 98 million Swiss francs and EBITDA margin ...