Solvay Sa Act (SVYSF) Q3 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good afternoon, everyone, and welcome to Solvay's third quarter and first nine months of 2025 earnings call. I'm Geoffrey Loutremont, head of investor relations, and I'm joined here today on the call by our CEO, Philippe Queren, our CFO, Alex Bloom, and our COO, Lani Duval. This call is being recorded and will be accessible for replay on the investor relations section of Solvay's website later today. I would like to remind you that the presentation includes forward-looking statements that are subject to risks and uncertainties. The slides presented in today's call are also available on our website. We'll first discuss our third quarter earnings, then give an update on the operational excellence program and come back also on some recent development survey before taking your questions. Philippe, please go ahead. Thank you very much, Geoffroy, and hello, everyone. As usual, I will start with a word on safety. While the number of injuries is stabilizing at low rates since the beginning of the year, the few accidents we saw in our operations remind us that we need to continue to work hard on the transformation of our safety culture. Changing the mindset and the behaviors is our main focus. Safety will always remain our number one priority. Slide six, please. So Alex will go through the earnings in detail, but I would like to give you a few messages first. So first, the overall environment remains difficult. We didn't see any improvement in the general macroeconomic indicators and the geopolitical and trade environment remains volatile. Our Coatis business continues to see very difficult market conditions related to the direct and indirect impacts of the increased tariffs for Brazilian imports to the US. Our Sodash business also continues to be under pressure, specifically...