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ERAMET S.A.'s (ERMAF) CEO Christel Bories on Q2 2021 Results - Earnings Call Transcript

Aug. 01, 2021 2:27 AM ETERAMET S.A. (ERMAF), ERMAY
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ERAMET S.A. (OTCPK:ERMAF) Q2 2021 Earnings Conference Call July 29, 2021 4:30 AM ET

Company Participants

Christel Bories - Chairman, Chief Executive Officer

Thomas Devedjian - Chief Financial Officer

Kleber Silva - Head of Mining and Metals Division

Conference Call Participants

Alain William - Oddo-BHF

Christel Bories

Good morning, one and all. Welcome to this presentation of our Half Year Results for H1, 2021. Our performance is robust and promising, running on the back of excellent operating performance and a stronger price environment. So we're optimistic when it comes to the next few months.

So about this presentation, I will start with a short introduction, then I will share with you the progress that we've made in terms of our CSR roadmap. Corporate social responsibility is gaining pride of place in terms of our general roadmap.

Our CFO, Thomas Devedjian will present our financial performance, and then I will be back to discuss our operating performance, as well as the inroads we have made in terms of our strategic roadmap and then the conclusion. By way of introduction…

[Foreign Language]

Obviously, let us zoom in on the performance of our first half strong performance. So revenue is up 11%, so close to €1.9 billion. So 82% of that revenue comes from M&M, Mining and Metals. Manganese accounts for 47% of that business. EBITDA is up the strongly. So, 2.5 times that what EBITDA was in H1, 2020, so close to €300 million. Our operating income close to €160 million.

Net income group share is €53 million and our free cash flow is really good. As you know, there is an unfavorable seasonal effect in terms of our mining operations in Q1 and despite that, there was excellent cash generation. So €111 million in cash generation. This means we've been able to reduce our net debt and we're

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