GrafTech International Ltd.

Good morning, ladies and gentlemen, and welcome to the Graf Tech third quarter 2023 earnings conference call and webcast. At this time, all lines are in a listen-only mode. Following the presentation, we will conduct a question and answer session. If at any time during this call you require immediate assistance, please press star zero for the operator. This call is being recorded on Friday, November 3rd, 2023. I would now like to turn the conference over to Mr. Mike Dillon. Vice President, Investor Relations, and Corporate Communications. Please go ahead, sir.

Thank you. Good morning, and welcome to Graphic International's third quarter 2023 earnings call. On with me today are Marcel Kessler, Chief Executive Officer, Jeremy Halford, Chief Operating Officer, and Tim Flanagan, Chief Financial Officer. Marcel will begin with opening comments. Jeremy will then discuss safety, the commercial environment, sales and operational matters, Tim will review our quarterly results and other financial details, and we'll close with comments on our outlook. We will then open the call to questions. Turning to our next slide. As a reminder, some of the matters discussed in this call may include forward-looking statements regarding, among other things, performance, trends, and strategies. These statements are based on current expectations and are subject to risks and uncertainties. Factors that could cause actual results to differ materially from those indicated by forward-looking statements are shown here. We will also discuss certain non-GAAP financial measures, and these slides include the relevant non-GAAP reconciliations. You can find these slides in the investor relations section of our website at www.graftech.com. A replay of the call will also be available on our website. I'll now turn the call over to Marcel.

Good morning, everyone. Thank you for joining Graftech's third quarter earnings call. I will begin by summarizing three key points We will discuss in more detail on our call today. First, the global steel industry remains constrained by geopolitical conflict and economic uncertainty, which has resulted in a persistently soft commercial environment and weak demand and declining prices for graphite electrodes. As a result, our performance for the third quarter fell short of our expectations and our outlook has weakened. Second, Graphtec remains focused on managing through the near-term market disruptions while maintaining our positioning for long-term opportunities. We recognize steel industry performance and demand for graphite electrodes will be dependent on macro conditions. As such, we continue to prioritize those things that are within our control. These include proactively reducing our production volume to align with our near-term demand outlook, closely managing our operating costs, capital expenditures, and working capital levels, and making targeted investments to further improve our operational flexibility and support long-term growth. Our ability to execute these strategies is evident in the strong cash flow generated in the third quarter. Supported by these actions, we remain confident we have ample liquidity between cash on hand and borrowing availability to weather the market challenges. Third, we remain optimistic about the long-term outlook for our business and our ability to deliver shareholder value. We are taking actions that we believe will optimally position Graf Tech to benefit from longer-term industry tailwinds in our graphite electrode business. At the same time, We continue to advance our efforts toward participation in the development of a Western EV battery supply chain, and we remain excited about this opportunity. Jeremy and Tim will expand on all these points during the call today. Before I turn the call over to them, I would like to address the recent announcement that I decided to resign from my role as CEO and President of Gravtech due to family health reasons effective later this month. During my first call after joining the company, I spoke to the reasons why I was attracted to Gravtech. A set of distinctive capabilities that provide confidence in our ability to deliver shareholder value over the long term. A business that is well positioned to participate in the long-term growth of the electrode market and with a promising foundation to pursue other avenues of growth. and a team with an impressive level of know-how, energy, and dedication. I feel that all these attributes are still in place today, and I continue to believe that Gravtech has some of the industry's best assets, operated by the best people, and will get through this challenging period to remain an industry leader. We remain confident in the long-term direction of the company and the experienced management team that remains in place to execute our strategies. With that, let me turn the call over to Jeremy.