Umicore Sa Ord New (UMICF) Q2 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to the Umicore half-year 2025 results conference call. My name is Alan and I will be your coordinator for today's event. Please note this call is being recorded and for the duration, your lines will be on listen only. However, you will have the opportunity to ask questions at the end. This can be done by pressing star 1 on your telephone keypad. If you require assistance at any time, please press star 0 and you'll be connected to an operator. I will now hand you over to your host, Bart Saab, CEO, to begin today's conference. Thank you. Hello, very good morning, everyone, and welcome to the H1 2025 results for Umicore. I do realize that for many of you, it's a very busy season and very busy week, so I highly appreciate for you being here in the call. As usual, we have an interesting agenda for you. On the first point, I want to take us back to the core strategy in a first snapshot, so a small reminder of our CMD. Then we'll have a look at our key figures and highlights. I'll cover the business review. Juanos will then go to the financial review. I'll be back with the outlook 2025. We'll wrap it up, and then we'll open the floor for Q&A. So let's have a look at our core strategy, which we launched in March 2025. Now, as you might remember, we are building on our core, which is our business model, right? And our business model is more relevant than ever. We are building on our business model with four key pillars, key focus domains, with the first one being capital. Then we have performance, people and culture, and partnerships. So on the capital, it's all about a more midterm balanced capital allocations. So what does that mean? We continue to invest in battery materials, but at a lower pace. But we also allocate a significant portion of our future capex to our...