Sulzer Ltd (0QQ9) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:03.315 to Sulzer's half year 2025 00:00:03.315 -- 00:00:04.897 results 00:00:04.897 -- 00:00:10.824 presentation. Welcome also to Thomas Zickler, my colleague and the CFO 00:00:10.824 -- 00:00:16.431 of Sulzer. We will lead together through the presentation. 00:00:16.431 -- 00:00:21.497 Also, we will answer questions at the end of our presentations. 00:00:21.497 -- 00:00:25.900 And so please ask them then. 00:00:26.103 -- 00:00:28.767 Investor Day 2024, 00:00:28.767 -- 00:00:34.014 in June 2024 at the airport in Zurich, 00:00:34.014 -- 00:00:37.359 Sulzer presented in detail 00:00:37.359 -- 00:00:42.947 the strategy and also our mid-term financial goals. 00:00:42.947 -- 00:00:48.896 Important growth above market, an EBITDA margin above 17%, 00:00:48.896 -- 00:00:54.421 and the return on capital employed of above 22%. 00:00:54.942 -- 00:01:00.393 Two pillars in the strategy, profitable organic growth 00:01:00.393 -- 00:01:05.964 and Zulzer excellence along the entire value chain. 00:01:05.964 -- 00:01:11.591 Now, the world has definitely moved on since June 2024. 00:01:11.969 -- 00:01:15.696 Let me just quickly mention what you all know. 00:01:15.696 -- 00:01:20.766 The geopolitical framework has changed. We have tariffs 00:01:20.766 -- 00:01:26.317 and counter tariffs and in general a higher uncertainty 00:01:26.317 -- 00:01:30.397 in the markets and low visibility. 00:01:30.397 -- 00:01:34.562 Let me also mention our reporting currency, 00:01:34.562 -- 00:01:40.448 Swiss Franc, which has increased in value 15% against 00:01:40.448 -- 00:01:45.251 the dollar since the 1st of January 2025. 00:01:45.253 -- 00:01:47.115 I 00:01:47.115 -- 00:01:51.480 think we all agree we do live in a phase of accelerated 00:01:51.480 -- 00:01:55.965 change ...